WPX Energy, Inc. (ticker: WPX) reported a net loss of $119 million, or $(0.30) per common share for the first quarter of 2018. Production for the quarter reached 102.7 MBOEPD, a 6% sequential increase over Q4 2017 and 76% higher than Q1 2017. WPX had oil volumes of 65,800 BOPD. WPX completed 36 gross operated wells (34 net) in its
Permian-based Rosehill Resources Inc. (ticker: ROSE) reported a Q4 2017 net loss of $5.3 million, or $(0.87) per diluted share. For the full year of 2017, the company reported a loss of $8.5 million, or $(1.43) per share. In 2017, Rosehill acquired 6,505 acres in the White Wolf acquisition, establishing a second core operating area in the Delaware Basin. The
Ares Management, L.P. (ticker ARES) and ARM Energy Holdings, LLC have partnered up to develop Salt Creek Midstream, LLC in the Delaware Basin. The company is owned by funds managed by the Ares Private Equity Group and ARM Energy. ARM Midstream Management, LLC, a subsidiary of ARM Energy, will serve as operator of the project. 260 MMcf/d of expandable processing
New Mexico is the nation’s third-largest oil producing state, thanks to the Delaware Basin: EIA From the Albuquerque Journal Battle Axe Road cuts smack through the heart of New Mexico’s side of the Delaware Basin, a previously marginal zone along the Texas border that is rapidly turning the state into a global player in the oil industry. Until recently, it
Lilis Energy, Inc. (ticker: LLEX) has closed a deal to acquire approximately 2,798 net acres in the southeastern New Mexico area of the Delaware Basin. The deal was part cash ($40 million) and part stock (~6.9 million shares, or ~$25.3 million), for an approximate total of $65.3 million. “This strategic transaction enhances our overall position in the Northern Delaware Basin,
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 8,788 BOEPD. For 2017, the company produced 2.7 MMBOE, or 7,391 BOEPD. Operations Delaware Basin In Ward County, Texas, Abraxas
Callon Petroleum Company (ticker: CPE) reported results of operations for the three months and full-year ended December 31, 2017. Financial and operational highlights Full-year 2017 production of 22.9 MBOE/d (78% oil), an increase of 50% over 2016 volumes Fourth quarter 2017 production of 26.5 MBOE/d (79% oil), a sequential quarterly increase of 18% Year-end proved reserves of 137.0 MMBOE (78%
Oasis Petroleum Inc. (ticker: OAS) reported net income attributable to Oasis of $124.6 million in the fourth quarter of 2017. Fourth quarter 2017 results included a benefit of $171.9 million due to the recently enacted Tax Cuts and Jobs Act. For the full year of 2017, Oasis reported net income attributable to Oasis of $123.8 million. The company produced 73,207
Anadarko Petroleum Corporation (ticker: APC) reported fourth quarter of 2017 net income attributable to common stockholders of $976 million, or $1.80 per share (diluted). Net cash provided by operating activities in the fourth quarter of 2017 was $1.4 billion. For the year ended December 31, 2017, Anadarko reported a net loss attributable to common stockholders of $456 million, or ($0.85)
Summit Midstream Partners, LP (ticker: SMLP) will be holding a non-binding open season for its Double E Pipeline. The target in-service date for the project is the first quarter of 2021. The project will consist of approximately 120 miles of 24″ to 36″ diameter pipe with a capacity of approximately 1.0 Bcf/d (without compression), expandable to approximately 1.4 Bcf/d (with
Lilis Energy (ticker: LLEX) is a pure play Permian operator with over 16,200 net acres in the Delaware Basin, and over 900 net identified future drilling locations. Lilis Energy is headquartered in San Antonio, Texas. In the first quarter of 2018 Lilis Energy plans to complete one well and commence drilling another well on its eastern acreage. The targeted formations
Lucid Energy Group and EnCap Flatrock Midstream have agreed to sell Lucid Energy Group II, LLC to funds owned by Riverstone Holdings LLC and the Goldman Sachs Group Inc. (ticker: GS) for approximately $1.6 billion. The participating investment funds managed by Goldman Sachs MBD are West Street Capital Partners VII, L.P., West Street Global Infrastructure Partners III, L.P., and West Street Energy Partners, L.P.
