Post Tagged with: "EnerCom; The Oil & Gas Conference"

179% Increase in Tools Sales for Superior Drilling Products’ Q2 Update

179% Increase in Tools Sales for Superior Drilling Products’ Q2 Update

During its second quarter, Superior Drilling Products (ticker: SDPI) reported revenue of $4.0 million, up from $2.9 million in the previous year’s Q2. The company’s net income was $0.3 million for Q2, up $3.4 million from a Q2, 2016 loss. The company’s Drill-N-Ream®—or DnR—technology increased in sales and the company said that its channel partner successfully achieved its June 2017 market share goal with the DnR. Revenue from the company’s tool sales increased to $2.5 million—an increase of 179% over its prior year period. The company’s contract services were $1.6 million—reflecting an increase of 601% from Q2, 2016. Looking into the future, Superior noted that it intended to expand its global reach with channel partners. The Q2 update said that Superior was discussing the addition of the company’s completions system tool—the Coiled Tubing Strider—to channel partners’ inventories. Superior Drilling Products will be a presenting company at the upcoming EnerCom conference[Read More…]

EnerCom Conference Presenters:  Eco-Stim Energy Solutions Revenue Up 233%, Bellatrix Production Up to 38,000 BOEPD

EnerCom Conference Presenters:  Eco-Stim Energy Solutions Revenue Up 233%, Bellatrix Production Up to 38,000 BOEPD

Two companies, Eco-Stim Energy Solutions and Bellatrix Exploration, that are presenting at EnerCom’s The Oil & Gas Conference® have announced Q2 earnings and updates. Eco-Stim Energy Solutions Eco-Stim Energy Solutions (ticker: ESES) announced during its Q2 earnings call that is had increased its revenue by 233% over Q1, 2017 to $8.5 million. The company signed a second contract for services in Oklahoma, allowing it to expand its operations and activate a second spread. The company completed a total of 88 stages during Q2 and—during July—completed another 85 stages in Oklahoma. In its Argentina operations, Eco-Stim completed 53 stages during Q2, with another 23 in July. The company will also be acquiring approximately 45,000 HHP worth of fracturing equipment for its two contracts. Eco-Stim also reduced its long term debt by $41 million and its capital expenditures for the second quarter totaled approximately $4.2 million. The company’s capital expenditures were related to[Read More…]

EnerCom’s Oilfield Tech Day: All Water is Not the Same

EnerCom’s Oilfield Tech Day: All Water is Not the Same

Gradiant Energy Services tailors water solutions to basins, plays, operators Water is a major concern throughout the oilfield. Operators are struggling with the logistics of water treatment as the need to handle water in day-to-day oilfield activities grows. Gradiant Energy Services is a privately held company that offers several solutions geared towards bacteria treatment, re-use, disposal, and desalination of water resources.  Gradiant is a presenter at EnerCom’s Oilfield Tech & Innovation Day on Aug. 17 in Denver. Providing water service in areas of large demand “Gradiant has a strong patent portfolio, with over 60 patents surrounding water technologies throughout the client’s value chain,” Danny Jimenez, Gradiant CEO told Oil & Gas 360®. Jimenez said the industry is increasingly moving—by choice and by regulatory necessity—to a place where water is recycled, especially at a time in the industry where frac intensity is growing fast. Longer laterals and bigger fracs drive need[Read More…]

Cimarex Energy on Track for ~$700 Million Permian Spending in 2017

Cimarex Energy on Track for ~$700 Million Permian Spending in 2017

Cimarex Energy (ticker: XEC) announced net income of $97.3 million during its second quarter conference call today—a significant turnaround from its Q2, 2016 loss of $214.4 million. The company produced near the high end of its expected Q2 guidance, with an average of 1.156 Bcfe per day—or approximately 192.7 MBOE per day. The company’s production climbed nine percent over its Q1, 2017 production and 19% over its Q2, 2016 production. Oil production alone averaged 57,871 BOPD, an increase of 11% from its Q1, 2017 production. Over the course of 2017, Cimarex has spent $602 million in exploration and development. During Q2, the company invested $296 million in exploration and development—with approximately $219 million of that directed to drilling and completion activities. Of that capital, 53% was directed to the Permian basin and 45% was directed to the Mid-Continent. The company funded its investments during the second quarter from its cash[Read More…]

PetroQuest Energy Reports Q2 Production of 6.3 Bcfe

PetroQuest Energy Reports Q2 Production of 6.3 Bcfe

In its second quarter, PetroQuest Energy (ticker: PQ) produced a total of 6.3 Bcfe up from 6.0 Bcfe produced in Q2, 2016. PetroQuest had a loss of $3,385,000 for Q2, 2017, down significantly from a Q2, 2016 loss of $24,143,000. The company’s production for the first half of the year was 11.5 Bcfe. The company reported lease operating costs of $1.12 per Mcfe, a decrease of $0.02 since Q2 2016. The company’s average daily production was 69.5 Mmcfe per day during Q2. The company is waiting to restore production from its recompleted Ship Shoal 72 well, which it believes will add another 6 Mmcfe per day of net production. PetroQuest has set a guidance of between 85 and 90 Mmcfe per day. PetroQuest has—as of the end of Q2—begun completions operations on a two well pad in which it holds an average of 76% working interest in its northern Cotton[Read More…]

EnerCom Announces Private Company Presenters and Panel at the Oil & Gas Conference® in Denver

EnerCom Announces Private Company Presenters and Panel at the Oil & Gas Conference® in Denver

Often times it’s the private E&Ps that crack new information at the EnerCom conference. EnerCom is pleased to announce this year’s private company participants: Fifth Creek Energy Fifth Creek Energy, headquartered in Denver, Colorado, is focused on developing assets in the Denver-Julesburg basin. In the DJ, Fifth Creek holds approximately 60,000 net cares with approximately 800 potential two-mile lateral locations. Fifth Creek acquired this acreage from EOG in July, 2016. The company is focused primarily on developing oil-rich targets, like the Niobrara B and the Codell formations. Out of its wells, the Fifth Creek produces approximately 3,000 BOEPD—over 80% of which is crude oil or NGLs. The company intends to invest $1.2 billion towards drilling 249 well through 2021. For its 2017 development plan, Fifth Creek will drill and complete 15 extended reach lateral wells across four pads. The company’s drilling program began on June 1, with production expected in[Read More…]

400 Miles of Oil: EnerCom Conference Presenters will Discuss Eagle Ford Operations, Growth

400 Miles of Oil: EnerCom Conference Presenters will Discuss Eagle Ford Operations, Growth

The Eagle Ford shale play—located in East Texas, extending into Mexico, and spread across approximately 26 Texas counties—is one of the major oil and gas plays in the U.S. The play itself produces tight oil and shale gas out of its shaley matrix. The basin’s producing shale averages 250 feet thick, but can reach up to 400 feet, and is approximately 400 miles long and 50 miles wide. The basin’s production peaked in late 2014 at approximately 1.65 MMBOPD and 7 Bcf per day. After that, production hit a trough in late 2016 following the drying up of oil and gas activity due to the price downturn. But the basin’s production has cranked up again, having grown back to approximately 1.350 BOPD and 6.5 Bcf per day of natural gas—according to a July report by the EIA. Attractive economics in the Eagle Ford Eagle Ford economics have proven attractive even[Read More…]

Core Laboratories – Day One Breakout Notes

Core Laboratories – Day One Breakout Notes

Core Laboratories presents at EnerCom’s The Oil & Gas Conference®  During the Core Laboratories breakout session, management was asked the following questions: Can you talk about what you see in world supply and demand curves? Specifically how do you see the balance of the demand? World production hovers around the low to mid 90’s you use 85, why? Is miscible gas technology focused only on shale or are there other applications? Please discuss what you think will happen with Iraqi production considering the drop in investment. How long does a well need to be in service before you can apply your technologies? What is happening with the US decline curve as companies are claiming to be increasing production? Can you add some color to refracturing treatments in the Barnett and Haynesville is that new technology? How do clients use and reuse your miscible technology? Do they have to come back[Read More…]

EnerCom’s The Oil & Gas Conference® 20:  Positive Expectations amid Falling Prices

EnerCom’s The Oil & Gas Conference® 20: Positive Expectations amid Falling Prices

With Q2 in the rearview mirror, presenters in the first few days of Enercom’s The Oil & Gas Conference® 20 were smiling and even optimistic about the future prospects for their companies. Completion formulas and directional drilling successes were discussed at length, as were balance sheets, liquidity, redeterminations, type curves, record well economics, reservoir analysis, CapEx allocation for the balance of 2015, and continued strong operating cost reductions. On Wednesday morning, outside the presentation and breakout rooms, a large screen displayed a live CNBC feed with graphics announcing “WTI Hits Lowest Point in 6 ½ years.” In a room full of oil and gas CEOs, CFOs, COOs, energy analysts, portfolio managers and bankers, the headline seemed more like an old wallpaper pattern, something so familiar that you have gotten used to living with it. Meantime company presentations were delivered, hundreds of one-on-one meetings were conducted and lunch speakers gave detailed[Read More…]

August 19, 2015 - 7:11 pm Oil and Gas 360 Articles