Post Tagged with: "Drilling"

Occidental Petroleum Averaged 621 MBOEPD in Q4

Occidental Petroleum Averaged 621 MBOEPD in Q4

Occidental Petroleum Corporation (ticker: OXY) reported net income of $497 million, or $0.65 per diluted share, for the fourth quarter of 2017, compared with $190 million, or $0.25 per diluted share, for the third quarter of 2017.

Core income for …

February 14, 2018 - 5:53 pm
Antero Resources: Longer, Faster Marcellus Laterals

Antero Resources: Longer, Faster Marcellus Laterals

Antero spent $1.28 billion on drilling and completions in 2017, producing an average of 2,253 MMcfe/d

Antero Resources

Full-year and Q4 2017 spending

Antero Resources (ticker: AR) spent $1.282 billion on drilling and completions in 2017. The company invested $204 million for …

February 14, 2018 - 5:41 pm
Diamondback Energy Earns $115 Million in Q4, Earmarks $1.3 Billion-$1.5 Billion 2018 Permian Spend

Diamondback Energy Earns $115 Million in Q4, Earmarks $1.3 Billion-$1.5 Billion 2018 Permian Spend

Diamondback Energy, Inc. (ticker: FANG) pulled in a net income of $115 million in the fourth quarter of 2017, or $1.16 per diluted share. Diamondback spent $246 million on drilling, completions, non-operated properties and $61 million on infrastructure in the …

February 14, 2018 - 5:21 pm
Denbury Resources Plans $300 Million 2018 CapEx

Denbury Resources Plans $300 Million 2018 CapEx

Denbury Resources Inc. (ticker: DNR) released its preliminary year-end 2017 proved reserves, production and capital expenditures, along with its 2018 capital budget and estimated annual production.

Preliminary Q4 2017/annual production

Denbury’s production averaged 61,144 BOEPD (97% oil) during the fourth …

February 13, 2018 - 5:28 pm
Advantage Oil & Gas Averaged Production of Nearly 40 MBOEPD in 2017

Advantage Oil & Gas Averaged Production of Nearly 40 MBOEPD in 2017

Advantage Oil & Gas Ltd. (ticker: AAV) released Q4 2017 and year-end 2017 results today. The company added reserves, increased annual production by 16% and spent $249 million in 2017.

Growing reserves

PDP reserves increased 27% due to the recognition …

February 12, 2018 - 5:23 pm
Bohrturm, Österreich: Weißer Hof 2014

Southwestern Energy Aims $1.25 Billion CapEx at Appalachian Basin

Southwestern Energy Company (ticker: SWN) will be going deeper into the Appalachian once again in 2018. The plan includes drilling 100-120 wells, completing 105-125 wells and placing 125-145 wells to sales.

2017 recap

In 2017, SWN had a total net …

February 9, 2018 - 5:22 pm
CNOOC 2018: 470 MMBOE Target, $11 Billion CapEx

CNOOC 2018: 470 MMBOE Target, $11 Billion CapEx

CNOOC Limited (ticker: CEO) plans to target 470-480 MMBOE for its net production goal in 2018. The geographic production areas are split between China (64%) and overseas (36%). The company’s net production for 2017 stood at approximately 469 MMBOE. As …

February 6, 2018 - 4:20 pm
Gulfport Energy’s ~$800 Million CapEx to Fall Within Cash Flow

Gulfport Energy’s ~$800 Million CapEx to Fall Within Cash Flow

Gulfport Energy Corporation (ticker: GPOR) has announced that:

  • 2018 CapEx budget will be funded within cash flow,
  • $100 million outstanding common stock will be repurchased this year,
  • 2018 operational outlook forecasts 1,250 MMcfe/d

2018 CapEx and production guidance

The 2018 …

January 30, 2018 - 3:35 pm
SilverBow Resources Releases 2018 CapEx and Guidance

SilverBow Resources Releases 2018 CapEx and Guidance

SilverBow Resources, Inc. (ticker: SBOW) recently announced its 2018 capital program of $245-$265 million. For 2018, SilverBow said that total company production is projected to average 175-195 MMcfe/d, an increase of approximately 25-40% from 2017 levels. This projection has been …

January 25, 2018 - 5:21 pm
Major BP Projects for 2018

Major BP Projects for 2018

Production from the full five-field West Nile Delta development, the Giza-Fayoum-Raven project, is expected to represent about 30% of Egypt’s current production

BP p.l.c. (ticker: BP) will bring five major upstream projects online in 2018. The projects span the globe, …

January 24, 2018 - 3:45 pm
The North Sea Will Have Legs in 2018: Halliburton CEO Miller

The North Sea Will Have Legs in 2018: Halliburton CEO Miller

Halliburton Company (ticker: HAL) announced a loss from continuing operations of $805 million, or ($0.92) per diluted share, for the fourth quarter of 2017. Adjusted income from continuing operations for the fourth quarter of 2017, excluding charges related to United …

January 22, 2018 - 5:34 pm
EnerCom Dallas Presenter Superior Drilling Products Showing Technology in ME with Weatherford

EnerCom Dallas Presenter Superior Drilling Products Showing Technology in ME with Weatherford

Superior Drilling Products, Inc. (ticker: SDPI) will be presenting at the EnerCom Dallas oil and gas investor conference. Superior is a drilling tool technology company based in Vernal, Utah.

Q3 2017 highlights

  • Tool revenue increased 72% over prior-year period
  • Revenue
January 16, 2018 - 4:34 pm
EnerCom Dallas Conference Presenter: GeoPark Limited

EnerCom Dallas Conference Presenter: GeoPark Limited

GeoPark Limited (ticker: GPRK) is a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Brazil, Argentina, Chile and Peru.

The company has 29 blocks in nine basins across five countries …

January 12, 2018 - 1:53 pm
Ensign Energy Releases 2018 CapEx Budget, Brings on New Board Member

Ensign Energy Releases 2018 CapEx Budget, Brings on New Board Member

Ensign Energy Services Inc. (ticker: ESI) announced a CapEx of $64 million, comprised of $43 million for capital maintenance on the fleet and $21 million for equipment and optimization upgrades to the current fleet. Ensign said that the capital plan …

December 8, 2017 - 3:13 pm
VAALCO Energy, Inc. (EGY) Q3 Financial Results

VAALCO Energy, Inc. (EGY) Q3 Financial Results

Q3 highlights

  • Reported loss from continuing operations of $0.1 million or $0.00 loss per diluted share
  • Generated operating income of $3.7 million
  • Produced an average of 3,707 barrels of oil per day (BOPD)
  • Production from the South Tchibala 1-HB was
November 14, 2017 - 6:28 pm
Energy XXI Gulf Coast (EXXI) Q3 Financial Results

Energy XXI Gulf Coast (EXXI) Q3 Financial Results

Q3 highlights

  • Produced an average of approximately 32,600 BOEPD, of which 77% was oil; weather reduced production an average of approximately 1,200 BOEPD
  • EXXI reported a net loss of $31.6 million or ($0.95) loss per diluted share
  • Potential 2018 drilling
November 14, 2017 - 6:17 pm
PetroQuest Energy, Inc. (PQ) Enters Q4 with Strong Oil and Gas Sales

PetroQuest Energy, Inc. (PQ) Enters Q4 with Strong Oil and Gas Sales

PetroQuest Energy’s net daily production rate exceeded 100 MMcfe in Oct., doubling production since Q4 2016

Q3 highlights

  • Oil and gas sales were $28,184,000
  • Loss to common stockholders of $3,085,000, or ($0.15) per share
  • Discretionary cash flow was $13,741,000
  • Production
November 3, 2017 - 2:11 pm
PetroQuest Energy Sees 41 MMcfe/Day Combined from Latest Cotton Valley Wells

PetroQuest Energy Sees 41 MMcfe/Day Combined from Latest Cotton Valley Wells

Cotton Valley Drilling and Completions

On October 23, 2017 PetroQuest Energy, Inc. (ticker: PQ) announced the results from its horizontal Cotton Valley drilling program in East Texas. PQ reported that three of their Cotton Valley Wells combined are producing approximately …

October 25, 2017 - 6:05 pm
Completions Remain Below 2014 Levels, Despite D&C Improvements: Seaport Global

Completions Remain Below 2014 Levels, Despite D&C Improvements: Seaport Global

A report by Seaport Global indicated that, since monthly numbers for drilled and completed wells bottomed out in mid-2016, the number of wells drilled and completed has made a significant comeback but have not come close to pre-crash levels in …

July 18, 2017 - 5:31 pm
Calgary-based Precision Drilling Corporation (ticker: PDS) announced planned capital expenditures for 2017 of CAD$109 million.

API Clocks 81% Increase in Oil Well Completions

According to a report from the American Petroleum Institute this week, estimated total wells drilled and completed in the second quarter of 2017 increased 62 percent compared to the second quarter of 2016.

This includes a 41 percent increase in …

July 14, 2017 - 5:05 pm
Superior Drilling Products:  Demand Heading Up with Rig Count

Superior Drilling Products:  Demand Heading Up with Rig Count

Superior Drilling Products (ticker: SDPI) specializes in designing and building products meant to optimize the drilling process. Superior offers five products geared towards advancing drilling efficiency and two services to benefit operating companies during their drilling activities.

Eliminating problems downhole

June 27, 2017 - 4:25 pm
Independence Contract Drilling: ShaleDriller® Walking Rigs Designed for Pad Drilling Market

Independence Contract Drilling: ShaleDriller® Walking Rigs Designed for Pad Drilling Market

Independence Contract Drilling (ticker: ICD) has made shale play drilling its primary business target with the introduction of its ShaleDriller® series rigs.

Demand for Independence’s rigs is largely focused in the Permian basin, with the Eagle Ford and Haynesville also …

June 19, 2017 - 5:43 pm
Permian Thought Leaders Talk Turkey

Permian Thought Leaders Talk Turkey

“It will get to a point where it’s actually artificial intelligence that’s drilling our wells for us, with us observing” – Tim Dove, CEO, Pioneer Natural Resources

There are a lot of smart E&P companies rambling around West Texas, the …

May 8, 2017 - 1:11 pm
U.S., Canada Getting Back to Work:  North American Rig Count Jumps by 57

U.S., Canada Getting Back to Work: North American Rig Count Jumps by 57

Three U.S. plays are more active than Dec. 2015, Canadian rig count 32% higher than 2015

The number of rigs drilling in North America increased by 57 rigs over the course of the week as oil prices remain above $50 …

December 9, 2016 - 6:07 pm
Oil Comes Back to Life in Canada

Oil Comes Back to Life in Canada

Canada is expecting a 31% increase in the number of wells drilled in 2017: CAODC

Two years after the collapse in oil prices forced the oil and gas industry to scale back drilling, the Canadian Association of Oilwell Drilling Contractors …

November 22, 2016 - 5:46 pm
Drilling in the Permian Exceeds Year-Ago Levels

Drilling in the Permian Exceeds Year-Ago Levels

U.S. rig count jumps 20 

Drilling activities continue to ramp up ahead of OPEC’s meeting November 30 as U.S. operators look to take advantage of improved oil prices and greater drilling efficiencies. The total number of rigs drilling in the …

November 18, 2016 - 4:41 pm
Baker Hughes Rig Count:  U.S. Up 11, Canada Up 24 since Last Week

Baker Hughes Rig Count: U.S. Up 11, Canada Up 24 since Last Week

Canadian Oil Drilling is More Active than a Year Ago

Drilling activity is picking up in North America as oil prices continue to climb higher this week. The latest information from Baker Hughes Industries (ticker: BHI) shows the U.S. added …

September 30, 2016 - 6:22 pm
Alaska: Power to the Conventional Thinker

Alaska: Power to the Conventional Thinker

“We’re not a shale player.  If you look at the amount of global crude oil production from conventional resources, it dwarfs production from shale.  We believe our 750,000-plus acreage position (located on Alaska’s North Slope between the Kuparuk River and …

July 15, 2016 - 6:50 pm
Resolute Announces $110 Million Midstream Sale, Potential for More Drilling

Resolute Announces $110 Million Midstream Sale, Potential for More Drilling

Resolute Energy sold off midstream assets for a $50 million payment and up to $60 million in earn-out payments

Resolute Energy Corporation (ticker: REN) announced an agreement to sell certain Permian Basin midstream assets for roughly $110 million. The purchaser …

July 8, 2016 - 5:25 pm
Lost at Sea: Offshore Drillers Face Difficult Road Ahead

Lost at Sea: Offshore Drillers Face Difficult Road Ahead

Oil prices have continued to move upward in recent weeks, and that has spurred the talk of rig counts possibly increasing and production coming back online. As oil prices flirt with the $50 mark, this may become a reality to …

May 24, 2016 - 6:50 pm