Enbridge Inc. (ticker: ENB) said its indirect subsidiary, Enbridge (U.S.) Inc., has entered into an agreement to sell Midcoast Operating, L.P. and its subsidiaries to AL Midcoast Holdings, LLC (an affiliate of ArcLight Capital Partners, LLC) for a cash purchase price of US$1.120 billion. “The sale of Midcoast is an important step in our shift towards a pure regulated pipeline
Sanchez Energy Corporation (ticker: SN) reported a net loss of $4.8 million for the first quarter 2018, or $(0.30) per share attributable to common stockholders. The quarter included $24.4 million in non-cash mark-to-market losses related to hedging activities, Sanchez said. Production Sanchez had production of ~7.3 MMBOE, or 80,572 BOEPD in Q1 2018. According to Sanchez, the company’s first quarter
Eagle Ford, Delaware drilling and completions are moving the needle Carrizo Oil & Gas, Inc. (ticker: CRZO) had a net income of $14.7 million, or $0.18 per share in Q1 2018. The company went above the high-end of its guidance range, producing 51,257 BOEPD in the quarter. Carrizo said that the increased production was due to its recent A&D activity.
Eclipse Resources Corporation (ticker: ECR) reported a net loss for Q1 2018 of $2.6 million, or $(0.01) per share. Average net daily production was 315.2 MMcfe/d, consisting of 72% natural gas and 28% liquids. The company had realized an average oil price, before the impact of cash settled derivatives, of $56.52 per barrel, a $6.39 per barrel discount to the
Liberty Oilfield Services Inc. (ticker: LBRT) reported a net income of $54 million in Q1 2018 and the company deployed its frac fleets 20 and 21, under dedicated arrangements with existing customers in the quarter. For the first quarter of 2018, revenue grew 10% to $495 million from $449 million in the fourth quarter of 2017. Liberty said that Q1
Contango Oil & Gas Company (ticker: MCF) posted a net income of $0.9 million, or $0.04 per share for Q1 2018. Production for the first quarter of 2018 was approximately 4.5 Bcfe, or 50.0 MMcfe/d. President and CEO Allan D. Keel said, “We now have eight wells on production, with two more to come on in early July from the
Newfield’s SCOOP/STACK operations pinned to future growth; Williston Basin infill projects look to deliver $100 million of free cash flow in 2018 Newfield Exploration Company (ticker: NFX) had record net production during Q1 2018, with SCOOP/STACK net production averaging 117,500 BOEPD. Newfield Chairman, President and CEO Lee Boothby said, “The Anadarko Basin is the asset that will fuel our growth
RSP Permian Inc. (ticker: RSPP) posted a Q1 2018 net income of $89.6 million, or $0.57 per diluted common share. Production for the quarter increased 39% to 62.8 MBOEPD (72% oil, 87% liquids) compared to Q1 2017. Drilling The company operated seven horizontal rigs and three full-time completion crews during the first quarter of 2018 (third crew added in late
Forecasts cashflow of approximately $3.2 billion at current strip prices for the remainder of 2018 – $66 per barrel for oil and $2.80 per Mcf for natural gas Running 20 Permian Hz rigs Pioneer Natural Resources Company (ticker: PXD) reported Q1 2018 net income of $178 million, or $1.04 per diluted share. Companywide production was 312 MBOEPD in the quarter,
WPX Energy, Inc. (ticker: WPX) reported a net loss of $119 million, or $(0.30) per common share for the first quarter of 2018. Production for the quarter reached 102.7 MBOEPD, a 6% sequential increase over Q4 2017 and 76% higher than Q1 2017. WPX had oil volumes of 65,800 BOPD. WPX completed 36 gross operated wells (34 net) in its
Chesapeake Energy Corporation (ticker: CHK) reported net income available to common stockholders of $268 million, or $0.29 per share for Q1 of 2018. Chesapeake’s average daily production for the first quarter of 2018 was approximately 554,000 BOE, compared to approximately 528,000 BOE in Q1 2017. Chesapeake reported an average rig count of 15 in Q1 2018, with 77 gross wells
Producing 228 MBOEPD, Running 20 Rigs Concho Resources Inc. (ticker: CXO) bought home a net income of $835 million, or $5.58 per diluted share for Q1 2018. Last year at this reporting period, Concho had a net income of $650 million, or $4.37 per share. Additionally, the company said it has reduced its total debt by $320 million in Q1
