Post Tagged with: "E&P"

Lilis Energy Makes Executive Changes

Lilis Energy Makes Executive Changes

Permian E&P Lilis Energy, Inc. (ticker: LLEX) has appointed Ronald D. Ormand to CEO, in addition to his position as chairman of the board.

James W. Denny III has been appointed EVP of production and operations, and the board of …

April 10, 2018 - 3:09 pm
Unit Corp Accelerates Drilling Program with $300 Million Sale

Unit Corp Accelerates Drilling Program with $300 Million Sale

Divesting 50% Interest in Superior Pipeline

Unit Corporation (ticker: UNT) has agreed to sell a fifty percent equity interest in its wholly owned subsidiary, Superior Pipeline Company, LLC for cash proceeds of $300 million. The purchaser, SP Investor Holdings, LLC, …

March 29, 2018 - 5:41 pm
Courtesy of PetroShale

Alta Mesa Resources Expects $725-$800 Million 2018 CapEx

Alta Mesa Resources, Inc. (ticker: AMR) and its wholly owned subsidiaries, Alta Mesa Holdings, LP (AMHLP) and Kingfisher Midstream, LLC, have released financial results, CapEx guidance and other updates.

2018 CapEx

Alta Mesa’s total capital expenditures for 2018 are expected …

March 29, 2018 - 5:15 pm
2018: The World’s Largest Public Oil & Gas Companies

2018: The World’s Largest Public Oil & Gas Companies

In this update to our 2016 rankings, the top two slots in the list still belong to the Russian giants, Exxon is still third, and PetroChina held onto fourth place – but Shell and BP flipped positions, changing the makeup

March 8, 2018 - 3:29 pm
Cimarex Energy Earns $5.19 per Share in 2017

Cimarex Energy Earns $5.19 per Share in 2017

  • Fourth quarter 2017 net income of $174.7 million, or $1.83 per share, compared to fourth quarter 2016 net income of $47.8 million, or $0.50 per share
  • For 2017, net income totaled $494.3 million, or $5.19 per share

Cimarex Energy Co. …

February 15, 2018 - 6:55 pm
Razor Energy Increases Reserves by 112% in 2017

Razor Energy Increases Reserves by 112% in 2017

Razor Energy Corp. (ticker: RZE) released a new reserves report today.

Total reserve values, on a proved developed producing basis discounted at 10% before tax, were $178.3 million, which represents an increase of 112% over year-end 2016. Total PDP reserve …

February 15, 2018 - 6:38 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
Alta Mesa Deal: ARM Energy Sold Kingfisher Midstream to Silver Run II for $1.55 Billion

Alta Mesa Deal: ARM Energy Sold Kingfisher Midstream to Silver Run II for $1.55 Billion

ARM Energy Holdings LLC said that the company and its partners have sold Kingfisher Midstream, LLC to Silver Run Acquisition Corporation II, in exchange for an aggregate consideration of up to $1.55 billion.

The transaction consideration is comprised of $800 …

February 12, 2018 - 5:16 pm
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 …

February 9, 2018 - 1:42 pm
Laredo Petroleum Announces Management Moves

Laredo Petroleum Announces Management Moves

Laredo Petroleum, Inc. (ticker: LPI) announced this week that Patrick J. Curth, senior VP of exploration and land, will transition to a senior advisor role in anticipation of his retirement in March 2019.

VP of Exploration and Geosciences Technology James …

February 7, 2018 - 3:22 pm
Double Eagle III - Areas of Interest

Double Eagle III’s Wingspan Covers $1 Billion

Double Eagle Energy Holdings III announced that inclusive of a recent capital raise, the company has secured equity commitments of more than $1 billion. The equity commitments are anchored through funds managed by affiliates of Apollo Global Management, LLC (ticker: …

February 6, 2018 - 4:38 pm
Stone Energy: Production, Reserves and CapEx Update

Stone Energy: Production, Reserves and CapEx Update

Stone Energy Corporation (ticker: SGY) estimates that its 2018 capital expenditure budget will reach up to $212 million. The budget allocates 36% to exploration, 27% to development and 37% to P&A expenditures.

Interim CEO and President James M. Trimble said, …

February 5, 2018 - 5:13 pm
Warburg Pincus Earmarks $300 Million for New Permian E&P

Warburg Pincus Earmarks $300 Million for New Permian E&P

Ridge Runner Resources, LLC is a new E&P focused on the Delaware Basin

The new company has received a line of equity financing of up to $300 million from funds affiliated with Warburg Pincus. The company will be led by …

February 5, 2018 - 4:11 pm
GeoPark Produced 10.2 MMBOE in 2017, Receives Reserve Report

GeoPark Produced 10.2 MMBOE in 2017, Receives Reserve Report

‘For every barrel produced, we replaced it with almost three proven barrels’ – GeoPark CEO James Park

EnerCom Dallas presenter GeoPark Limited (ticker: GPRK) recently received an independent appraisal of reserves covering 100% of the company’s assets in Colombia, Chile, …

February 5, 2018 - 4:04 pm
ExxonMobil Plans to Ramp Up Drilling in Permian and Bakken

ExxonMobil Plans to Ramp Up Drilling in Permian and Bakken

Exxon Mobil Corporation (ticker: XOM) reported 2017 earnings of $19.7 billion, compared to $7.8 billion in 2016 – this represents a 151% increase. Non-cash asset impairments of $1.5 billion were recorded during the year, mainly due to upstream assets.

Q4 …

February 2, 2018 - 4:39 pm
Bohrung Erdpress, Österreich, 2013

Frontera Energy Exits 2017 with 71,015 BOEPD

Latin America-focused Frontera Energy Corporation (ticker: FEC) announced an exit rate production, after royalties and internal consumption, of 71,015 BOEPD as of December 31, 2017.

According to a company statement, exit rate production included 8,240 bbl/d from Block 192 in …

January 23, 2018 - 4:35 pm
GeoPark Discovers New Gas Play in Chile

GeoPark Discovers New Gas Play in Chile

GeoPark Limited (ticker: GPRK) said that in Chile the Uaken 1 exploration well in the Fell block was successfully drilled and tested. The well is operated by GeoPark and the company has 100% working interest.

GeoPark drilled and completed the …

January 18, 2018 - 2:00 pm
International E&Ps to Present at EnerCom Dallas Oil & Gas Investment Conference Feb. 21-22, 2018

International E&Ps to Present at EnerCom Dallas Oil & Gas Investment Conference Feb. 21-22, 2018

Oil industry senior management teams will discuss 2018 operations at the EnerCom Dallas investment conference

Institutional investors, portfolio managers, financial analysts, CIOs and other investment community professionals who invest in the energy space should register now for the EnerCom Dallas

January 11, 2018 - 5:23 pm
Lilis Energy Announces Tiger #1H IP in the Wolfcamp

Lilis Energy Announces Tiger #1H IP in the Wolfcamp

Tiger #1H reached 1,803 BOEPD, 72% liquids on 4,108 foot lateral

Lilis Energy, Inc. (ticker: LLEX) said that its Tiger #1H well has reached a 24-hour initial production rate of 1,803 BOEPD on a three-stream basis, at 439 BOEPD per …

January 9, 2018 - 5:12 pm
International Petroleum Acquires Shallow Conventional Alberta Assets

International Petroleum Acquires Shallow Conventional Alberta Assets

International Petroleum Corp. (ticker: IPCO) has acquired conventional oil and gas assets in Alberta, Canada.

The Suffield and Alderson conventional oil and natural gas assets are held over a large, contiguous land position of 800,000 net acres of shallow natural …

January 8, 2018 - 5:54 pm
Panhandle Oil and Gas Inc. Asset Overview, Oct. 2017

Panhandle Oil and Gas Q4/FY2017 Results

Panhandle Oil and Gas Inc. (ticker: PHX) released its Q4 results today along with an operations update.

Highlights for the periods ended September 30, 2017

  • Recorded a fourth quarter 2017 net income of $1,039,134, $0.06 per share, compared to a
December 13, 2017 - 10:47 am
Source: Petro Waste

Waste Disposal is Growing Need in the Permian Basin

New landfill infrastructure

Petro Waste Environmental LP is starting construction on its Deep Six and Big Lake landfills in the Permian Basin with its joint venture partner Trinity Environmental Services.

The Deep Six landfill will be adjacent to Trinity’s Deep …

December 5, 2017 - 4:00 pm
USGS 1002 Area Map

Drilling ANWR’s 1002 Area Edges Closer to a Vote

A quick background

In 1960, the Secretary of the Interior signed an order protecting the northernmost parts of Alaska at the federal level. The order protected 8.9 million acres and named it the Arctic National Wildlife Range. In 1980, President …

November 15, 2017 - 5:47 pm
Extraction Oil & Gas (XOG) Expands Operating Footprint with Oily Hawkeye

Extraction Oil & Gas (XOG) Expands Operating Footprint with Oily Hawkeye

Q3 highlights

  • Average net sales volumes of 62,884 BOEPD including 34,607 barrels per day (Bbl/d) of oil
  • Net loss of $29.8 million, or ($0.20) per basic and diluted share
  • Turned to sales 30 gross (27 net) operated wells with an
November 15, 2017 - 4:46 pm
CONSOL Energy Separates E&P and Coal into Separate Businesses

CONSOL Energy Separates E&P and Coal into Separate Businesses

Utica production up 45% Q2 to Q3 2017

CONSOL Energy (ticker: CNX) released its Q3 financials today and announced its division into new subsidiary companies.

New companies, new names and ticker symbols

  • The current parent, CONSOL Energy, will change its
October 31, 2017 - 5:13 pm
Relationships Among O&G Reserve Classifications

More E&Ps Will Pass New OCC Leverage Tests in 2017-2019: Haynes and Boone

Firm sees E&P borrowing on the rebound – failure rate will improve from a dismal 91% in 2016 to 26% in 2019

In March 2016, the Office of Comptroller of the Currency (OCC) issued the “Oil and Gas Exploration and …

October 31, 2017 - 4:37 pm
Southwestern Energy (SWN): Development of Four-well Pad Generating High IP

Southwestern Energy (SWN): Development of Four-well Pad Generating High IP

Southwestern Energy Company (Ticker: SWN) reported Q3 2017 results today and held its conference call for analysts.

During the third quarter Southwestern invested approximately $320 million in the E&P business and participated in drilling 47 wells, completed 29 wells, and …

October 27, 2017 - 5:55 pm
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 …

July 20, 2017 - 4:49 pm
U.S. Rig Count Now 396 Rigs Higher Than Year-Ago Levels

U.S. Rig Count Now 396 Rigs Higher Than Year-Ago Levels

Drilling continues to pick up in the U.S. as oil remains above $50 per barrel

Baker Hughes Industries (ticker: BHI) released the North American rig count Friday showing yet another week of increased drilling activity in the United States. The …

April 7, 2017 - 4:38 pm
Source: WPX

Onshore Rig Count Increases by Just One

Eagle Ford adds 5 rigs, Williston adds 3, Permian adds 2 for the week

Onshore drilling activity remained more or less unchanged for the week ended March 3, 2017, according to Baker Hughes’ (ticker: BHI) weekly report. The number of …

March 3, 2017 - 5:48 pm