U.S. rig count falls to 541 The U.S. rig count continued to fall in the week ended February 12, 2016, according to the latest information from Baker Hughes (ticker: BHI, BakerHughes.com). In the last six months, the total number of rig counts has fallen 39% to 541 this week. The number of rigs drilling for oil took the brunt of
WPX Energy Inc. (ticker: WPX; WPXEnergy.com) announced on February 9, 2016, that the Company will sell its WPX Energy Rocky Mountain subsidiary business, which focuses on the Piceance Basin of Colorado. The WPX Piceance subsidiary was acquired by Terra Energy Partners LLC for $910 million in cash. The assets consist of 200,000 net acres in the Piceance Basin with recent
Oil prices expected to stay at or below $50 for the next six months Lower for longer is starting to truly set in with the oil and gas industry as buyside investors and the industry see a more muted outlook for oil and gas prices on the horizon. A survey that polled primarily buyside investors and members of the oil
Encana reported an increase of 24 MBOEPD from Q2 averages Calgary-based Encana Corp (ticker: ECA) reported today that production from its four main assets increased to 257,000 barrels of oil equivalent per day (MBOEPD), up 24 MBOEPD from the average production of 223 MBOEPD in the second quarter of 2015. Operations in the Permian, Eagle Ford, Duvernay and Montney will
Staying focused on what is within the company’s control Low oil prices are out the control of individual E&P companies, and every single producer has felt the pain from the 40% commodity price haircut stemming from OPEC’s decision last November to maintain production levels. Resolute Energy (ticker: REN) is focusing on the costs they can control in its oil-weighted asset
Private E&P is Evaluating $500 Million to $1.5 Billion Opportunities in the D-J, Permian and Utica Exclusive Interview with Oil & Gas 360 Fifth Creek Energy is a private E&P company, formed by Michael Starzer and Patrick Graham, the founders of Bonanza Creek Energy (ticker: BCEI) and its predecessor companies. Last week, Fifth Creek and Natural Gas Partners (NGP) announced
Permian Operator Will Use Equity Proceeds to Pay Debt While the oil and gas industry is battening down the hatches, issuing bailing buckets to all hands and looking for a solid toehold as forty-six dollar crude oil sloshes under and around it, North American shale player Diamondback Energy (ticker: FANG) is a point of light. The company zoomed to the market yesterday
Callon Petroleum (ticker: CPE) is engaged in the acquisition, development, exploration and operation of oil and gas properties in Texas, Louisiana and the offshore waters of the Gulf of Mexico. In 2009, Callon began a strategic initiative to diversify its operations from strictly offshore Gulf of Mexico by entering the Permian Basin of West Texas. The company’s move to diversify
Callon Petroleum (ticker: CPE) continues to make headway on its drilling initiatives in the Permian Basin while acquiring additional running room and properties in the play. CPE operates all of its Permian acreage and has positions in both the Delaware Basin portion on the western side of the Permian and in the Midland Basin east of the Central Basin Platform.
Callon Petroleum Company (NYSE: CPE), an independent oil and gas exploration & production (E&P) company operating both offshore and onshore in the United States, announced operational and financial results for the Q1’12 period ended March 31, 2012. CPE reported Q1’12 net income of $0.5 million, or $0.01 per share compared to Q1’11 net income of $4.2 million, or earnings per
Callon Petroleum Company (NYSE: CPE) is an independent oil and gas exploration & production (E&P) company operating both offshore and onshore in the United States. The Company generates the majority of its free cash flow from its offshore fields in the U.S. Gulf of Mexico, both on the shelf and in the deepwater regions. Callon has a non-operated interest in
Fred Callon, Chairman and Chief Executive Officer of Callon Petroleum (NYSE: CPE) presented today at EnerCom’s The Oil & Services Conference™ 10. Callon Petroleum Company is an independent oil and natural gas company which since 1950 has been focused on building reserves and production both onshore and offshore through efficient operations and low finding and development costs. During the company’s
