On September 11, 2013, the California Assembly passed a law attempting to regulate fracing in the state’s Monterey shale. The bill, listed as Senate Bill 4 (SB 4), will go into effect on January 1, 2015. SB 4 will require companies to apply for a fracing permit, disclose what chemicals and well stimulation fluids they were using, and notify local
Oasis Petroleum Inc. (ticker: OAS) is an independent exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources, primarily operating in the Williston Basin. On September 5, 2013, the company announced it increased its acreage footprint in the Williston Basin by nearly 50% with the acquisition of a combined 161,000 net acres (91,000
Whiting Petroleum Corporation (ticker: WLL) is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and natural gas liquids primarily in Williston Basin and Permian Basin regions of the United States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota and its Enhanced Oil Recovery field
Magnum Hunter Resources (ticker: MHR) is an oil and natural gas exploration and production company active in three shale resource plays in North America: the Marcellus Shale, Utica Shale and the Williston Basin/Bakken Shale. The company’s growth platform is supported with approximately 350,000 net acres spread across its core operating regions. MHR’s first quarter 10Q filing was much anticipated. Due
Enerplus (ticker: ERF) is an independent exploration and production company with a concentrated portfolio of oil and natural gas assets both in Canada and the United States. The company’s operations include high growth opportunities in the Bakken/Three Forks, as well as stable, low decline crude oil production from a variety of crude oil waterflood properties across Western Canada. The company’s
QEP Resources, Inc. (ticker: QEP) is a leading independent natural gas and crude oil exploration and production company focused in two major regions: the Northern Region (primarily in the Rockies and the Williston Basin) and the Southern Region (primarily Oklahoma, Louisiana, and the Texas Panhandle) of the United States. QEP Resources also gathers, compresses, treats, processes and stores natural gas. On
Emerald Oil, Inc. (ticker: EOX) is a new Oil & Gas 360® profiled company. For readers not familiar with EOX, this oil weighted producer is an exploration and production company focused primarily on the development of its 51,000 net acre position in the Williston Basin of North Dakota and Montana. They are currently transitioning from a non-operated model to an
Resolute Energy Corp (ticker: REN) is an independent oil and gas company focused on the acquisition, exploration, exploitation and development of oil and gas properties primarily in the Aneth Field in the Paradox Basin of Utah, the Powder River Basin of Wyoming, the Permian Basin of Texas and the Bakken trend in the Williston Basin of North Dakota. Resolute’s primary
Magnum Hunter Resources Corp (ticker: MHR) announced it will acquire Viking International Resources, a private company with approximately 51,500 net acres primarily in the Marcellus and Utica plays, for $106.7 million. The deal will be funded with $37.3 million in cash and $69.4 million in convertible preferred stock. The preferred stock will pay an annual dividend of 8% and will
On August 23, 2012, QEP Resources, Inc. (ticker: QEP) announced it increased its operations in the Williston Basin to approximately 118,000 net acres with the acquisition of 27,600 net acres from multiple sellers in a new core area targeting the Bakken and Three Forks formations. Details of the transaction: Total consideration of approximately $1.38 billion in cash, subject to customary
In only six months, Magnum Hunter Resources (ticker: MHR) increased its estimated total proved reserves by 51%, or 22.8 MMBOE. The company now estimates owning 67.7 MMBOE of proved reserves, 64% oil. What caused the increase? A combination of organic drilling extensions, as well as acquisitions (Magnum Hunter’s Chief Executive Officer Gary Evans’ effective and proven strategy to build, develop
U.S. Energy Corp. (NASDAQ: USEG) is a natural resource exploration and development company with a primary focus on the exploration and development of its oil and gas assets in the Williston Basin in North Dakota and Montana, Eagle Ford Shale play in South Texas, as well as its most recent entrance into the Woodbine play in Texas. OAG 360 notes
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