Post Tagged with: "Denver"

Source: PDC Energy

PDC Energy to Acquire SRC Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360 PDC Energy to acquire SRC Energy in all-stock transaction valued at approximately $1.7 billion PDC Energy Inc. (stock ticker: PDCE), an independent E&P based out of Denver, has entered into a definitive agreement to acquire SRC Energy Inc. (stock ticker: SRCI), also located in Denver, in an all-stock transaction valued at approximately $1.7 billion, including SRC’s net debt of approximately $685 million as of June 30, 2019. This consideration represents a premium of 6.8% to the 30-day average exchange ratio of 0.148x. Under the terms of the two companies’ agreement, SRC shareholders will receive 0.158 shares of PDC for each share of SRC common stock owned, representing an… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Source: QEP Resources

QEP and Elliot Management Enter into Cooperation Agreement

By Tyler Losier, Energy Reporter, Oil & Gas 360 QEP Resources and Elliot Management will work together to appoint two new independent directors QEP Resources, Inc. (stock ticker: QEP), a Denver-based independent E&P, has entered into a cooperation agreement with affiliates of Elliot Management Corporation, which owns approximately 4.9% of QEP’s common stock. Under the terms of the agreement, QEP and Elliot will work together to collaboratively appoint two new independent directors to the QEP board. Both nominees are expected to have a strong operating background in unconventional development, and are expected to be seated no later than October of this year. An overview of QEP’s current asset portfolio (source: QEP Reso… Login or click here to subscribe

Conference Spotlight: Williston Basin Presenters

Conference Spotlight: Williston Basin Presenters

By Tyler Losier, Energy Reporter, Oil & Gas 360 The Oil and Gas Conference’s Williston Basin presenters cumulatively produce 633,800 BOEPD From August 11-14, Oil & Gas 360’s parent company – EnerCom – will host its 24th annual The Oil and Gas Conference® at the Westin Downtown Hotel in Denver, Colorado. This event offers investment professionals the opportunity to hear oil and gas company’s executive management teams update investors on their operational and financial strategies, and listen to how energy companies are planning to navigate through the remainder of 2019 and 2020. Currently, there are six different companies presenting that hold assets in the Williston Basin: Continental Resources (stock ticker: CLR) Market Cap: $15,857,000,000 Enterprise Value: $21,693,000,000 Capital Expenditure: $2,915,000,000 TTM EBITA: $3,542,000,000 Total Production Rate: 298,200 BOEPD Reserves: 1,522,400,000 BOE Denbury Resources (stock ticker: DNR) Market Cap: $572,000,000 Enterprise Value: $3,134,000,000 Capital Expenditure: $346,000,000 TTM EBITA: $565,000,000 Total Production[Read More…]

Source: PDC Energy

All Three PDC Energy Incumbents Win Board Seats

By Tyler Losier, Energy Reporter, Oil & Gas 360   Kimmeridge’s candidates defeated, ending months-long battle PDC Energy, Inc., following its 2019 annual meeting of stockholders, announced today that CEO Barton Brookman, and directors Mark Ellis and Larry Mazza, all incumbent board members, have been re-elected based on a preliminary count of the vote. All three challengers, members of the New York-based private equity firm Kimmeridge Energy Management, were defeated. Source: PDC Energy Q1 2019 Earnings Call According to Bloomberg, Kimmeridge is a 5.1% owner of PDC, and over the past few months, it has argued that PDC’s acquisition and operational strategies were flawed, driving low returns for investors. Consequently… Login or click here to subscribe

Denver Energy Company Named Top Workplace Fifth Consecutive Year

Denver Energy Company Named Top Workplace Fifth Consecutive Year

Tallgrass Energy, LP (stock ticker: TGE, $TGE) was named one of The Denver Post’s Top Workplaces. The list is compiled based on a third-party survey that measures aspects of workplace culture through the eyes of employees. It’s the fifth consecutive year for Tallgrass to be named. Tallgrass is an energy midstream infrastructure company operating in 11 states that provides energy transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins. The company said the top two words employees used to describe the company’s culture were “safety” and “safe” – a testimonial to Tallgrass’ unrelenting focus on safety. The Top Workplaces are determined bas… Login or click here to subscribe

Houston to London at Mach 2.2 Getting Closer

Houston to London at Mach 2.2 Getting Closer

From The Denver Business Journal Denver startup Boom Technology Inc. has designed a passenger jet capable of flying two times faster than the speed of sound. A test version of Boom’s supersonic passenger airliner for business travelers should begin flying in 2019. The company has drawn orders from Japanese airline giant JAL, which flies to 56 countries, and Richard Branson’s Virgin Galactic airline, which has placed dibs on 10 of Boom’s planes. The first flight of Boom’s XB-1 demonstration plane, a scaled-down test version known by employees as the “Baby Boom,” was planned for late 2018 or early 2019 in the skies near Colorado’s Centennial Airport. The test flights, below the speed of sound, would show the flight worthiness of the aircraft’s design. Later, supersonic testing of the full-scale passenger jet version is planned in California’s Mojave Desert. Its version for airlines is a 55-passenger plane, available for service starting[Read More…]

January 3, 2019 - 11:15 am Closing Bell Story, Energy News, Transportation
What to Expect from The Oil & Gas Conference 23®: EnerCom Conference Primer

What to Expect from The Oil & Gas Conference 23®: EnerCom Conference Primer

2018 EnerCom conference presenting companies are responsible for 3.2 MMBOEPD of production, $251 billion enterprise value In just one month, for the 23rd consecutive year, analysts, investors and industry professionals will descend on Denver for EnerCom’s 2018 installment of The Oil & Gas Conference®. At the EnerCom conference, oil and gas company senior leadership teams will present their company’s strategies, update operations and deliver company financial metrics to institutional investors, analysts and portfolio managers, broker/dealers, wealth managers, family offices and high net worth investors during the four-day financial conference. The roster of public oil and gas producing companies, along with global oilfield service, technology and data providers represents a hefty slice of energy capital at work. Here’s how the lineup breaks out for 2018: 40 North American shale E&Ps 7 international E&Ps 10 other producers 9 oilfield service providers 9 private E&Ps, midstream and data providers $203 billion in market value[Read More…]

Courtesy of HighPoint Resources

HighPoint Resources Drops Completion Time to 4.2 Days per Well; Wants to Bring Second Rig to Hereford

HighPoint Resources Corporation (ticker: HPR) reported a net income loss of $24.9 million, or $(0.20) per share for the first quarter of 2018. HighPoint produced 1.91 MMBoe in the quarter, which was at the midpoint of its guidance range of 1.8-2.0 MMBoe. Wattenberg For Q1 2018, the NE Wattenberg produced 20,845 BOEPD (59% oil), representing 47% growth over the first quarter of 2017. The NE Wattenberg oil price differential averaged $2.42 per barrel less than WTI. Drilling and completion cycle times improved by 7% to approximately 16 days, driven by a 14% improvement in completion times (frac and drill out days). During the quarter, HighPoint averaged 4.2 days per well to frac a five-well DSU that included over 400 frac stages being completed. Hereford Pro forma production sales volumes for the first quarter of 2018 averaged approximately 3,820 BOEPD (76% oil) and the oil price differential averaged $2.08 per barrel[Read More…]

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

BetaZi LLC Lets Operators Solve Problems ‘Wicked Fast’

BetaZi LLC Lets Operators Solve Problems ‘Wicked Fast’

EnerCom Dallas presenter BetaZi will present at the Tower Club, Downtown Dallas, Wed. Feb. 21 BetaZi LLC creates production forecasting solutions for the oil and gas industry using physics-based predictive analytics. The company has been in operation since 2012 and has modeled over 400,000 wells – the results help decision makers from the oil patch all the way up to board rooms around the world. “We did the calculations to make production forecasts on more than three million wells in the U.S.,” BetaZi Founder and CEO Conradson said back in 2017. “That took BetaZi™ an enormous amount of computational power, but only 48 hours to complete.” BetaZi has multiple solutions BasinAlpha is a series of pre-computed, pre-packaged forecast-based intel bundles for sale on a per-basin basis. Each bundle is a library of BetaZi probabilistic well forecasts on every well in the basin, along with data, type curves, and basic economics.[Read More…]

February 9, 2018 - 1:42 pm Closing Bell Story, EnerCom Dallas 2018, People
ENSERVCO Looking for a CFO

ENSERVCO Looking for a CFO

Denver-based ENSERVCO Corporation (ticker: ENSV) has announced that its chief financial officer Bob Devers will leave on August 4, 2017, to pursue other opportunities. ENSERVCO said it expects to name a new chief financial officer in the coming weeks, following an executive search and interview process that is underway now. “Bob’s departure date later this summer gives us ample time to bring our new CFO up to speed and ensure a smooth transition,” said Ian Dickinson, CEO. “We appreciate Bob’s service and many contributions to the Company through the years and wish him well in his future endeavors.” ENSERVCO provides completion services and wellsite production and maintenance services to oil and gas operators in seven major domestic oil and gas basins.

June 9, 2017 - 3:21 pm Closing Bell Story, Oilfield Services, People

Saving Denver from “Houstonization” with a $7 Billion Train

From Politico A decade ago, travelers arriving at Denver’s sprawling new airport would look out over a vast expanse of flat, prairie dog-infested grassland and wonder if their plane had somehow fallen short of its destination. The $4.9 billion airport—at 53 square miles, larger than Manhattan—was derided as being “halfway to Kansas,” and given the emptiness of the 23-mile drive to the city, it felt that way. Last month, arriving visitors boarded the first trains headed for downtown, a journey that zips past a new Japanese-style “smart city” emerging from the prairie before depositing passengers 37 minutes later in a bustling urban hive of restaurants, shops and residential towers that only six years ago was a gravelly no man’s land—an entire $2 billion downtown neighborhood that’s mushroomed up around the hub of Denver’s rapidly expanding light rail system. The 22.8-mile spur from the airport to downtown is the latest addition[Read More…]

May 20, 2016 - 12:04 pm Closing Bell Story, Energy News, Transportation
Gas Prices in 2014

Chart of the Week: 2014 Measured by Gasoline Prices

Listed below are gas prices for the Denver, Houston and New York metropolitan areas for 2014. All have dropped roughly $1.00 on a year-over-year basis, with prices in Denver and Houston dropping by roughly 33% compared to last December and as much as 45% since the summer. Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation[Read More…]

December 30, 2014 - 6:47 pm Chart of Week, Commodity Pricing, Oil and Gas 360 Articles