Post Tagged with: "E&P"

Resolute Energy Divests Hilight Field for $55 Million, Solidifies Balance Sheet

Resolute Energy Divests Hilight Field for $55 Million, Solidifies Balance Sheet

Resolute Energy Corporation (ticker: REN), an exploration and production company based in Denver, Colorado, took a step to enhance its liquidity by selling its Hilight Field asset for $55 million.

The divesture, announced on September 16, 2015, is intended …

Blackbird Energy Commences Drilling Program

Blackbird Energy Commences Drilling Program

CALGARY, ALBERTA–(Marketwired – Sept. 14, 2015) – (TSX VENTURE:BBI) Blackbird Energy Inc. (“Blackbird” or the “Company“) is pleased to provide an operational update regarding its drill program at Elmworth and the significant progress made regarding infrastructure …

September 15, 2015 - 4:43 pm Analytics, Canada
Rig Count Continues Falling to 848

Rig Count Continues Falling to 848

Rig counts reach lowest point since January 2003

The total number of rigs operating in the United States continued to fall for the third consecutive week, shedding the most rigs in terms of percentage of total rigs since May 1, …

Oil Prices up Over $10 in a Week

Oil Prices up Over $10 in a Week

Oil continues climb

Oil prices continued to climb today, following a trend from late last week. West Texas Intermediate for October 2015 was trading at $47.50 per barrel today, up about $10 from last Monday’s lows. Last week, better …

Statoil Julius Discovery Holds 15 to75 MMBOE of Recoverable Gas and Condensate

Statoil Julius Discovery Holds 15 to75 MMBOE of Recoverable Gas and Condensate

Statoil continues to delineate resources near King Lear discovery offshore in Norway

Norway’s Statoil (ticker: STO) announced its 2/4-23S well (Julius) discovered gas and condensate in the Ula formation, offshore Norway in the North Sea, southeast of Stavanger. STO estimates …

Rig Count Makes Biggest Gains Yet in 2015

Rig Count Makes Biggest Gains Yet in 2015

Overall rig counts up 2% on additions in the oil patch

Overall rig counts reached a nearly two-month high this week, with Baker Hughes (ticker: BHI) reporting 876 rigs active in the United States for the week ended July 24, …

China Opens Six Blocks for Private Exploration Amid Market Turmoil

China Opens Six Blocks for Private Exploration Amid Market Turmoil

Remote location and complex geology remain obstacles

The Chinese government announced yesterday that it will open six oil and gas blocks for private companies to explore in the Xinjiang region in northwest China. China’s Ministry of Land and Resources said …

Oil & Gas 360® Achieves One Million Pageviews

Oil & Gas 360® Achieves One Million Pageviews

New Oil & Gas 360® Users Accelerate Rapidly During the Past 12 Months

In 2010, EnerCom Inc. launched www.oilandgas360.com. The idea was to bring oil and gas data and insight to a global audience of oil and gas company …

Rig Count Sees Smallest Fall this Year

Rig Count Sees Smallest Fall this Year

Baker Hughes rig count for the week ended June 19, 2015

The number of rigs drilling for oil and gas in the United States fell to 857 in the week ended June 19, 2015, a decline of just 2 rigs …

First Quarter Refining Profits:  Up 95% from Q1 2014

First Quarter Refining Profits: Up 95% from Q1 2014

Higher crack spreads led to better refining margins for Integrated Oils, but can’t offset their upstream loses

Integrated oil and gas companies saw much higher profits from their refining operations in the first quarter of this year than in Q1 …

Winter Weather Slows Down U.S. Economy in First Quarter

Winter Weather Slows Down U.S. Economy in First Quarter

E&P investment plunge of 48.6% annual rate is steepest since 2009

The government’s revised estimate for first quarter growth was revised down to -0.7% growth from 0.2% growth. The U.S. economy shrank in the first three months of the year …

May 29, 2015 - 1:42 pm Oil and Gas 360 Articles
Murkowski Puts Forward New Offshore Legislation

Murkowski Puts Forward New Offshore Legislation

Pushing for larger share of offshore oil and gas revenues

Alaska’s Senator Lisa Murkowski put forward new legislation last week that hopes to bring more revenue from oil and natural gas production on Alaska’s outer continental shelf (OCS) back to …

Source: theiet.org

Iran’s Oil Minister: Production Could Reach Pre-Sanctions Levels in Three Months

Iran hopes to ramp up production quickly

Iran hopes to return its crude oil exports to pre-sanctions levels within three months once a deal with regarding the country’s nuclear program is reached and sanctions are lifted, said Iran’s Deputy Oil …

AWE Completes Subsea Tie-back

AWE Completes Subsea Tie-back

AWE has successfully completed the tie-back of well offshore of New Zealand

Australia’s AWE Limited (ticker: AWE) announced that it has completed the subsea tie-back and installation to connect the Pateke-4H development well to the Tui area oil fields gathering …

Parex Operational Update

Parex Operational Update

Parex Operational Update: Q1 Production 26,700 bopd and Plans for Drilling Activity Increase in 2015

Parex Resources Inc. (“Parex” or the “Company“) (PXT.TO), provides an operational update that confirms Q1 2015 production of …

April 6, 2015 - 7:11 pm Canada, Exploration and Production (E&P)
VAALCO Announces Q4, FY 2014 Results

VAALCO Announces Q4, FY 2014 Results

VAALCO Energy Announces Fourth Quarter And Full-Year 2014 Results

HOUSTON, March 16, 2015 /PRNewswire/ — VAALCO Energy, Inc. (NYSE: EGY) today reported results for the fourth quarter and full-year 2014.

For the 2014 fourth quarter, VAALCO reported Adjusted …

March 17, 2015 - 5:36 pm Exploration and Production (E&P)
Kosmos Energy Bucks the Capex Cut Trend

Kosmos Energy Bucks the Capex Cut Trend

Kosmos Energy (ticker: KOS), an oil and gas E&P company headquartered in Bermuda, announced a 2015 capital budget of $800 million in its Q4’14 results on February 23, 2015. The planned expenditures represents an increase of 52% compared to its …

Balance Sheet an Asset for these Small-Mid Cap E&Ps

Balance Sheet an Asset for these Small-Mid Cap E&Ps

Earnings season is approaching, and balance sheets will carry more weight than they have in years.

The oil price slide has resulted in a much greater debt to market cap percentage across the oil and gas sphere. In EnerCom’s E&P …

Oil & Gas 360

Oil & Gas 360® Exclusive Interview: Stephens E&P Research

Short Term Oversupply, Permian in the Pole Position

Oil & Gas 360® interviewed Stephens Inc. Senior Vice President E&P Research, Will Green, and Vice President E&P Research, Ben Wyatt, this week, in pursuit of their view of the current commodities …

What are Energy Companies Thinking as they Head into 2015?

What are Energy Companies Thinking as they Head into 2015?

Dropping Oil Prices = Changing Landscape for E&Ps, Midstream, OilService Companies

At last week’s 2014 Energy Symposium hosted by Wells Fargo Securities at the Waldorf Astoria, the sentiment expressed by the energy companies was far different from what had been …

India and Mexico Sign MoU

India and Mexico Sign MoU

Reliance Industries Limited (ticker: RIL) and the Mexican state owned company, Petroleos Mexicanos (PEMEX) have entered into a Memorandum of Understanding (MOU) regarding cooperation on potential upstream business opportunities in Mexico and the companies will jointly evaluate value added opportunities …

December 8, 2014 - 6:55 pm International, Oil and Gas 360 Articles
Oil & Gas 360® Looks at Canadian E&Ps – Part 5

Oil & Gas 360® Looks at Canadian E&Ps – Part 5

This week’ look at Canadian E&Ps includes four companies with operations in all parts of the Americas, from Canada down to South America.

Bonavista Energy Corp. (ticker: BNP)

Comparative Financial and Operational Metrics for BNP (approximate numbers): Bonavista Energy Corp’s …

Oil and Gas 360® Looks at E&Ps in Canada – Part Four

Oil and Gas 360® Looks at E&Ps in Canada – Part Four

In the last three weeks, Oil and Gas 360® has reviewed a dozen Canadian E&Ps, looking at operations, financial performance and comments from top management during recent conference calls and management discussions. The four Canadian E&Ps covered this week range …

December 1, 2014 - 2:24 pm Canada, Oil and Gas 360 Articles
Canada Oil and Gas Provinces Rank Among Best in the World

Canada Oil and Gas Provinces Rank Among Best in the World

1280px-Canada_geological_map-WCSBFraser Institute’s annual Global Petroleum Survey of energy executives ranks Canada oil and gas provinces among the best in the world for investment. The survey ranks 156 jurisdictions worldwide on their attractiveness for investment based on the input of oil …

Oil & Gas 360® Looks at Canada’s E&Ps – Part Three

Oil & Gas 360® Looks at Canada’s E&Ps – Part Three

Over the past two weeks, Oil & Gas 360® has reviewed eight of Canada’s E&Ps, looking at operations, financial performance and management comments during recent conference calls. The Canadian E&Ps we will review range in market cap from $44 billion …

Oil and Gas 360® Looks at Canada’s E&Ps – Part Two

Oil and Gas 360® Looks at Canada’s E&Ps – Part Two

Last week, Canada’s Harper government released its fall fiscal update, which predicted a $1.9 billion government surplus in 2015-16 and real GDP growth of 2.6% for 2015. These promising forecasts come in spite of falling oil prices that have created …

November 17, 2014 - 6:31 pm Canada, Oil and Gas 360 Articles
Who Will Drive Global Oil Prices in 2015 – U.S. Shale Producers, Saudi Arabia or OPEC?

Who Will Drive Global Oil Prices in 2015 – U.S. Shale Producers, Saudi Arabia or OPEC?

Falling oil prices have helped sell a lot of Rolaids lately, particularly in places like Houston where U.S. E&Ps are trying to plan their future drilling commitments, based on uncertain commodities prices in 2015.
On Monday, some NYMEX options traders …

October 28, 2014 - 4:28 pm Oil and Gas 360 Articles, OPEC
An Oil & Gas 360® Exclusive Interview with John Gerdes, Head of Research for KLR Group

An Oil & Gas 360® Exclusive Interview with John Gerdes, Head of Research for KLR Group

A 30-year oil and gas veteran gives his perspective on the E&P space, oil prices, OPEC, LNG and New York’s shale

Oil & Gas 360® had an opportunity to speak with John Gerdes about the oil and gas industry from …

October 22, 2014 - 4:10 pm Oil and Gas 360 Articles, Straight Answers

Barclays Estimates Global E&P Spending to Set Record in 2014; Horizontal Drilling in the Permian Pace North American Growth

Global exploration and production spending is poised to reach $723 billion in 2014, according to a 2014 Global E&P Spending Report by Barclays on December 9, 2013. The record will mark the first time spending has eclipsed the $700 billion …

December 10, 2013 - 5:00 pm Canada, Fracing, International, Midstream, Oil and Gas 360 Articles
Unit Corp: Three Parts Make a Whole; Grows Reserves 29% in 2012

Unit Corp: Three Parts Make a Whole; Grows Reserves 29% in 2012

Unit Corporation (ticker: UNT) is a unique company in the oil and natural gas industry. The company is a diversified energy company through its subsidiaries Unit Petroleum Co, Unit Drilling Co and Superior Pipeline Co. As such, there are a …

February 8, 2013 - 8:38 pm Midstream, Oil and Gas 360 Articles