Post Tagged with: "2018"

EQT Records $2.3 Billion Non-Cash Impairment Charge

EQT Records $2.3 Billion Non-Cash Impairment Charge

EQT Corporation (ticker: EQT) reported a net loss of income attributable to EQT of $1,586 million, or $(5.99) per diluted earnings per share.

The net loss attributable to EQT for the first quarter of 2018 was impacted by an impairment …

Range Resources Reports Q1 2018

Range Resources Reports Q1 2018

Range Resources Corporation (ticker: RRC) reported a net income of $49 million, or $0.20 per diluted share.

“The first quarter was a good start to the year, generating record quarterly cash flow while remaining on track to deliver our expected …

Core Laboratories Stim-Lab

Core Lab Q1 Revenues Up 8%, Operating Income Jumps ~40%

For the first quarter, 2018, Core Laboratories N.V. (ticker: CLB) reported a net income of approximately $23.5 million, or $0.54 per share for Q1 2018. Revenue from continuing operations was $170 million, up over 8% year-over-year and operating income was …

ConocoPhillips Produces 1,224 MBOEPD, Nets $0.9 Billion

ConocoPhillips Produces 1,224 MBOEPD, Nets $0.9 Billion

ConocoPhillips Company (ticker: COP) reported first quarter 2018 earnings of $0.9 billion, or $0.75 per share. This compares to first quarter 2017 earnings of $0.6 billion, or $0.47 per share.

First quarter production, excluding Libya, was 1,224 MBOEPD. Production from …

Stena Carron - Daytime

Hess Net Q1 Production: 233 MBOEPD – Bakken 111 MBOEPD

Bakken production up 11% over Q1 2017

Hess Corporation (ticker: HES) reported a net loss of $106 million, or $(0.38) per common share in Q1 2018. This compares to a net loss of $324 million, or $(1.07) per share in …

EnerCom Announces The Oil & Gas Conference® 23 is Open for Registration

EnerCom Announces The Oil & Gas Conference® 23 is Open for Registration

EnerCom Announces The Oil & Gas Conference® 23 is Open for Registration

Weatherford Ramps Up Cost Savings Plan

Weatherford Ramps Up Cost Savings Plan

Weatherford International plc (ticker: WFT) reported a net loss of $245 million, or a loss of $(0.25) per share for the first quarter of 2018.

Weatherford President and CEO Mark A. McCollum said, “The goals we have set forth for …

Halliburton

Halliburton Writes Down All Remaining Venezuela Investments

Market is 1 million to 1.5 million horsepower undersupplied

Halliburton Company (ticker: HAL) reported an income of $46 million, or $0.05 per diluted share for the first quarter of 2018. This is an improvement over Q1 2017’s net loss of …

PetroShale Doubles Production in the Bakken/Three Forks

PetroShale Doubles Production in the Bakken/Three Forks

Bakken-focused PetroShale Inc. (ticker: PSH) released financial and operating results for the year-ended December 31, 2017. Production averaged 2,121 BOEPD in the fourth quarter and 2017 production averaged 2,445 BOEPD, an increase of 50% over 2016.

Financially, PetroShale reported 2017 …

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

100% year-over-year growth in Midland Basin production; realized price is SM’s highest level in 14 quarters: $37.76/BOE average

Midland Basin operations up to nine rigs and five completions crews; SM expects to double completions in Q2

The Midland Basin produced …

Razor Energy Reports Q4

Razor Energy Reports Q4

Razor Energy Corp. (ticker: RZE) recorded a positive Q4 2017 net income of $2.3 million, or $0.14 per share. For 2017, the company had a net loss of $3.7 million, or $(0.27) per share. The company produced 4,534 BOEPD in …

Yuma Energy Reduces Debt, Completes First Permian Horizontal

Yuma Energy Reduces Debt, Completes First Permian Horizontal

Yuma Energy, Inc. (ticker: YUMA) reported a net loss attributable to common stockholders of $6.8 million, or $(0.46) per share for 2017. Net average production for the year-ended December 31, 2017 was 2,454 BOEPD, or 34.8% higher than the prior …

Strategic Oil & Gas Ltd. Reports 2017 Results

Strategic Oil & Gas Ltd. Reports 2017 Results

Northern Alberta operator Strategic Oil & Gas Ltd. (ticker: SOG) has posted Q4 and full year 2017 results. The company had a net loss of $41.3 million, or $(0.89) per share in Q4 2017. For 2017, Strategic had a net …

Lonestar Resources Plans 50% Production Growth in 2018

Lonestar Resources Plans 50% Production Growth in 2018

Lonestar Resources US Inc. (ticker: LONE) reported a net loss attributable to common stockholders of $13.7 million, or $(0.58) per share for Q4 2017. For 2017, the company had a net loss of $42.6 million, or $(1.92) per share. Net …

Frontera Drums Up 70 MBOEPD in 2017, Plans 2018 Encore

Frontera Drums Up 70 MBOEPD in 2017, Plans 2018 Encore

Frontera Energy Corporation (ticker: FEC) reported a net loss of $217 million, or $(4.33) per share for 2017. In Q4 2017, the company posted a net loss of $33 million, or $(0.65) per share. The company attributed the year’s loss …

Bohrturm, Österreich: Weißer Hof 2014

ProPetro Profitable in 2017, Approaches One Million HHP

Permian-concentrated oilfield service provider ProPetro Holding Corp. (ticker: PUMP) had a net income of $12.6 million, or $0.16 per share for 2017. In Q4 2017 the company had a net income of $10.1 million, or $0.12 per share. The company …

Blackbird Energy Reports Q2 2018

Blackbird Energy Reports Q2 2018

Blackbird Energy Inc. (ticker: BBI) reported for the three months ended January 31, 2018, a net loss of CDN$1.71 million, or a net loss per share of $(0.00). For the six months ended January 31, 2018, the company reported a …

Canacol Energy Ltd.: Largest Caribbean Supplier of Natural Gas

Canacol Energy Ltd.: Largest Caribbean Supplier of Natural Gas

Calgary’s Canacol Energy Ltd. (ticker: CNE) recorded a net loss of USD$148 million for the year ended December 31, 2017, or $(0.48) per share – this compares to a net income of $23.6 million for the same period in 2016. …

Surge Energy Exits 2017 with 15,850 BOEPD

Surge Energy Exits 2017 with 15,850 BOEPD

Surge Energy Inc. (ticker: SGY) produced on average 15,675 BOEPD in Q4 2017 and exited 2017 with 15,850 BOEPD. For 2018, the company’s production guidance stands at 16,150 BOEPD.

The company reported adjusted funds flow of $32.17 million, or $0.14 …

Northern Oil and Gas Increases 2018 Production Guidance

Northern Oil and Gas Increases 2018 Production Guidance

Northern Oil and Gas, Inc. (ticker: NOG) expects its Q1 2018 average daily production to increase by 5% to 6% over fourth quarter 2017 – a sequential increase of nearly 1,000 BOEPD.

In a similar vein, Northern will be raising …

Seven Generations Energy Chalks Up $562 Million Net Income

Seven Generations Energy Chalks Up $562 Million Net Income

2017 average Q4 production was 197,000 BOEPD

Montney producer Seven Generations Energy Ltd. (ticker: VII) reported a net income of $83.6 million, or $0.23 per share for the fourth quarter of 2017. For the full year, the company posted a …

Midstates Petroleum 2018 CapEx of $100-$120 million, 1-Rig Program Targets Mississippian Lime

Midstates Petroleum 2018 CapEx of $100-$120 million, 1-Rig Program Targets Mississippian Lime

Midstates Petroleum Company, Inc. (ticker: MPO) reported a net loss of $85.1 million, or $(3.39) per share in 2017. In Q4 2017, the company reported a net loss of approximately $121 million, or $(4.78) per share.

For 2017, the company …

Earthstone Energy Targets Midland Basin with ~$130 Million CapEx, Plans to Spud 10 Net Wells

Earthstone Energy Targets Midland Basin with ~$130 Million CapEx, Plans to Spud 10 Net Wells

Targeting 12-12.5 MBOEPD production for 2018

Earthstone Energy, Inc. (ticker: ESTE) posted a net income of $2.3 million, or $0.09 per share in Q4 2017. For 2017, the company reported a net loss of $12.5 million, or $(0.53) per share.…

Abraxas Petroleum Drilling the Delaware Basin, June Completions on Tap in the Williston

Abraxas Petroleum Drilling the Delaware Basin, June Completions on Tap in the Williston

Abraxas Petroleum Corporation (ticker: AXAS) reported a net loss of $4.1 million, or $(0.02) per share. For 2017, the company reported a net income of $16 million, or $0.10 per share.

In Q4 2017, the company produced 808 MBOE, or …

Bellatrix Exploration Working on Spirit River, Cardium; $65-$60 Million CapEx in 2018

Bellatrix Exploration Working on Spirit River, Cardium; $65-$60 Million CapEx in 2018

Bellatrix Exploration Ltd. (ticker: BXE) had a net loss of CDN$13.1 million, or $(0.26) per share. For 2017, the company reported a net loss of $91.4 million, or $(1.85) per share.

Bellatrix produced approximately 37.1 MBOEPD in Q4 2017. The …

Goodrich Petroleum Plans to Invest Funds in Additional Haynesville Drilling, Zipper Fracs

Goodrich Petroleum Plans to Invest Funds in Additional Haynesville Drilling, Zipper Fracs

Goodrich Petroleum Corporation (ticker: GDP) has updated and accelerated its preliminary capital expenditure budget for 2018, following the recent $23 million asset sale. For 2018, the company’s board of directors approved a $20 million increase to $85-$95 million to …

Rosehill Resources Drilling, Completing White Wolf in 2018

Rosehill Resources Drilling, Completing White Wolf in 2018

Rosehill Resources Inc. (ticker: ROSE) expects to drill 16 to 22 new wells in the White Wolf area in 2018 and expects to complete 12 to 16 of those wells. While most of these wells will have lateral lengths of …

WildHorse Resource Earns $50 Million, Brings Online 90 Net Hz Wells in 2017

WildHorse Resource Earns $50 Million, Brings Online 90 Net Hz Wells in 2017

Almost 100 Gen 3 Eagle Ford wells were online by yearend of 2017

2018 Eagle Ford: WRD plans own in-basin sand mine, could reduce well costs $400,000-$600,000 per well

WildHorse Resource Development Corporation (ticker: WRD) reported a net income of …

Superior Drilling Products Reduces Loss to $.01, Drops Debt by 23%, Expects Strong Growth in 2018

Superior Drilling Products Reduces Loss to $.01, Drops Debt by 23%, Expects Strong Growth in 2018

Superior Drilling Products, Inc. (ticker: SDPI) had a net loss of $786 thousand in Q4 2017, or $(0.03) per share. For 2017, the company had a net loss of $279 thousand, or $(0.01) per share. Superior reduced debt by $3.9 …

2018: The World’s Largest Public Oil & Gas Companies

2018: The World’s Largest Public Oil & Gas Companies

In this update to our 2016 rankings, the top two slots in the list still belong to the Russian giants, Exxon is still third, and PetroChina held onto fourth place – but Shell and BP flipped positions, changing the makeup