Denver-based QEP Resources Inc. (stock ticker: QEP) reported its Q3 Results Wednesday. Pure-play is right move for QEP’s size QEP is well on the course to being a pure-play Permian company, with the sale of its Bakken assets announced earlier this week. QEP Chairman, President and CEO Charles Stanley outlined some of the advantages to being a pure-play producer in
Earthstone Energy (ticker: ESTE) has entered into an agreement with Sabalo Holdings, LLC in which Earthstone will acquire all of Sabalo Holdings’ interests in Sabalo Energy, LLC and Sabalo Energy, Inc., whose assets include both producing and non-producing oil and gas assets in the northern Midland Basin. Sabalo is a privately-held oil and gas company based in Corpus Christi, Texas
USGS prepares new assessment of Delaware Wolfcamp From the Midland Reporter-Telegram By year’s end, Permian Basin oil and gas producers active in the Delaware Basin should have a better idea of the undiscovered, technically recoverable resources in the Wolfcamp Shale and Bone Spring formations. Stephanie Gaswirth with the U.S. Geological Survey’s Central Energy Resources Science Center, told those attending the
Newly formed DoublePoint Energy LLC holds one of the largest private land positions in the core of the Midland Double Eagle Energy Holdings III of Ft. Worth and Denver’s FourPoint Energy have formed DoublePoint Energy LLC, a new pure-play Midland Basin company with more than 70,000 acres in Midland, Glasscock, Martin, Howard, Upton and Reagan Counties. The assets of the new company are a combination of Double Eagle’s existing Midland Basin acreage
Midland Basin operator Earthstone Energy, Inc. (ticker: ESTE) has initiated three executive promotions. Robert J. Anderson has been promoted to president of the company, effective immediately. Anderson has served as Earthstone’s EVP Corporate Development and Engineering since 2014. Anderson, a petroleum engineer, served in a similar capacity with Oak Valley Resources, LLC from March 2013 until the closing of its
Callon Petroleum Company (ticker: CPE) reported results of operations for the three months and full-year ended December 31, 2017. Financial and operational highlights Full-year 2017 production of 22.9 MBOE/d (78% oil), an increase of 50% over 2016 volumes Fourth quarter 2017 production of 26.5 MBOE/d (79% oil), a sequential quarterly increase of 18% Year-end proved reserves of 137.0 MMBOE (78%
Earthstone Energy, Inc. (ticker: ESTE) will present at the EnerCom Dallas investment conference Feb. 21-22, 2018 at the Tower Club in downtown Dallas. Earthstone Energy is an independent company that develops and operates oil and gas properties primarily in the Midland Basin of West Texas, the Eagle Ford trend of south Texas and the Williston Basin of North Dakota. The
At 44.1 MBOEPD, Endeavor Energy Resources is a private name which stands large in the Midland Basin The Permian Basin continues to be the hottest basin in the country, with companies piling in and investors willing to give them premium multiples. The play has become so desirable that general reading about the industry often feels like you’re sifting through “Permian
Early today Earthstone Energy, Inc. (Ticker: ESTE) completed the sale of its Bakken assets. According to the company’s press release, the assets were sold to an unaffiliated party for about $27 million in cash. The effective date of the transaction is December 1, 2017. Earthstone Energy plans to use the proceeds from this transaction to pay down debt under its
High acreage costs beginning to affect economics in the Delaware The Permian has enjoyed a rush of capital since oil prices began to recover from a low of $26.21 in February of last year. The play is home to some of the best economics in the country, making it a prime target for E&P companies looking to maximize profit in
Expanding in the Delaware: Magnetar Capital’s $250 million commitment targets growth of Lucid Energy’s Delaware basin system Lucid Energy Group of Dallas will be adding up to $250 million worth of expansion to the 930 MMCF of natural gas processing capacity and 3,600 miles of pipeline assets it has in the Permian basin, the company announced Tuesday. Alternative asset manager Magnetar
Permian-focused Parsley Energy (NYSE: PE) closed the acquisition of undeveloped acreage and producing oil and gas properties in the core of the Midland Basin from Double Eagle Energy Permian LLC for an aggregate purchase price of approximately $2.8 billion, consisting of approximately $1.4 billion in cash and approximately 39.8 million units of Parsley Energy, LLC (together with a corresponding number of shares of
