Permian Basin – Page 13

Energen Going Big in Permian with New Hedges, $400+ Million Stock Offering

June 18, 2015

Multi-year acceleration of Permian development slated for 2016 start Wolfcamp B and C benches in Glasscock County may warrant two laterals per zone Energen Corporation (ticker: EGN) took measures to secure stable near-term growth this week, adding its first oil hedges for 2016 and tapping the equity markets. The measures include: Public offering of 5,700,000 shares of stock, resulting in

Ring Energy Enters the Delaware Basin with $75 Million Acquisition

May 26, 2015

Extends Permian Position Ring Energy (ticker: REI) followed through on its acquisition comments in its Q1’15 conference call, announcing purchase of 14,000 net acres in the Delaware Basin in a news release on May 26, 2015. The $75 million transaction includes current net production of 1,300 BOEPD, net reserves of 4.7 MMBOE and a PV-10 value of $128.5 million. Average

Callon Petroleum Escalating Permian Operations, Prepares to Exploit the Lower Spraberry

May 12, 2015

Lower Spraberry Type Curves: 900 MBOE It took four years for Callon Petroleum (ticker: CPE) to transition to the Permian Basin, and since the shift completed last year, the micro-cap E&P is boosting operational activity despite a rather difficult commodity environment. Capital One Securities welcomed the update, saying “CPE’s solid execution continues” in a note dated May 7. Callon increased

Callon Petroleum Fitting the Role of a Low-Cost Permian Producer

February 5, 2015

An Exclusive Interview with CPE’s CEO Fred Callon Callon Petroleum (ticker: CPE) became a pure-play Permian Basin E&P no more than one year ago, but its efficiency in the United States’ greatest oil producing play is apparent. In a news release on February 5, 2015, CPE projects 2015 production to range from 8.0 to 8.4 MBOEPD, an increase of 45%

Permian Production Nearing 2 MMBOPD in Latest EIA Report

January 12, 2015

The Drilling Productivity Report, released monthly by the Energy Information Administration, expects production in all seven listed regions to rise in February even though companies are laying down rigs and reducing operations. The two respective giants of the oil and gas plays are leading the charge, with the Permian projected to increase its output to 1,929 MBOPD and the Marcellus

Winter is Coming for the Oil & Gas Industry

January 8, 2015

Worsening conditions prove there is no such thing as home field advantage Production in the Permian Basin was impacted this last week due to freezing rain and temperatures dropping into single digits, according to news releases from Energen (ticker: EGN) and Pioneer Natural Resources (ticker: PXD). Reuters reports Apache Corp. (ticker: APA) was also affected by the adverse conditions which

American Energy set to Double Total Landholdings in the Permian

November 26, 2014

Privately held American Energy Partners, LP’s affiliate is closing on 14,000 net acres of leasehold primarily located in Reagan County, Texas and 1,400 BOEPD of production for $440 million, in cash and notes, according to a news release from the company. The deal will double its leasehold in the Wolfcamp Shale play. Including the Tall City acquisition, since July 31,

Resolute Energy Posts Production Increase, 2015 Coming into View

November 24, 2014

Resolute Energy Corp. (ticker: REN) is an exploration and production company with producing assets in the Permian Basin (Texas), the Hilight Field of the Powder River Basin (Wyoming) and the Aneth Field of the Paradox Basin (Utah). REN is developing its assets through horizontal drilling, resulting in a 10% production increase for the trailing twelve months ended September 30, 2014

American Energy Partners Update: What is McClendon Up to Now?

October 30, 2014

Aubrey McClendon has had little time off since his publicized ouster from his first E&P empire (Chesapeake Energy – ticker: CHK). Since founding American Energy Partners (AEP) in April 2013, McClendon has quietly amassed acreage in several major North American plays. AEP’s structure has expanded to a platform with subsidiaries named for their respective basins: the Marcellus, Permian, Utica and

How Much is too Much for the Permian?

October 8, 2014

Overall, 29% of all rigs in the United States are running in the Permian Infrastructure constraints. Spot prices trading at a considerable discount to Cushing. Questions about the longevity of the oil boom. E&Ps hear all the concerns in the Permian Basin. These “concerns,” however, are not enough to discourage producers from dialing up production in the United State’s largest

Encana Sees Big Potential in $7.1 Billion Acquisition of Permian Pure-Play Athlon Energy

September 29, 2014

Calling the move “transitional,” Encana Corp. (ticker: ECA), Canada’s largest natural gas company, has announced it will acquire all shares and assume the senior notes of Fort Worth’s Athlon Energy (ticker: ATHL) in a US$7.1 billion cash offer, which Encana says is immediately accretive to cash flow per share. Under the terms of the merger agreement, Athlon shareholders will receive

Perspectives on Valuation — Why Callon Petroleum’s $212.6 Million Permian Basin Acquisition Delivers

September 8, 2014

On September 2, 2014 we reported on the acquisition of 6,230 gross acres (3,862 net) in the Midland Basin area of the Permian Basin by Callon Petroleum Company (ticker: CPE). The properties were purchased for $212.6 million in cash and are near CPE’s existing operations in Carpe Diem and Pecan Acres in Midland County, Texas. The sale is effective May

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