Northern Oil and Gas, Inc. (ticker: NOG) expects its Q1 2018 average daily production to increase by 5% to 6% over fourth quarter 2017 – a sequential increase of nearly 1,000 BOEPD. In a similar vein, Northern will be raising its full year 2018 production guidance, and the company is now expecting average daily production to increase by 18% to
Abraxas Petroleum Corporation (ticker: AXAS) reported a net loss of $4.1 million, or $(0.02) per share. For 2017, the company reported a net income of $16 million, or $0.10 per share. In Q4 2017, the company produced 808 MBOE, or 8,788 BOEPD. For 2017, the company produced 2.7 MMBOE, or 7,391 BOEPD. Operations Delaware Basin In Ward County, Texas, Abraxas
Blackbird Energy Inc. (ticker: BBI) has released test results from its 3-27-71-7W6 Upper Montney delineation well. The well flowed at an average estimated sales rate of 1,188 BOEPD (53% liquids, liquids/gas ratio of 190 Bbls/MMcf) over the final 48-hours of a 12-day production test. The 3-27-71-7W6 Upper Montney delineation well was drilled to a total depth of 4,604-meters with a
Total S.A. (ticker: TOT) closed the acquisition signed on August 21, 2017, adding around one billion BOE 2P reserves, mainly in OECD countries. The acquisition also increases Total’s production by 160 MBOEPD in 2018, and the company expects to ramp up production to 200 MBOEPD by early 2020. According to Total, this deal makes the company the second-largest operator in
VAALCO Energy, Inc. (ticker: EGY) reported an income of $10.3 million, or $0.17 per diluted share for 2017. In Q4 2017, the company reported an income of $3.5 million, or $0.06 per diluted share. The company produced an average of 3,957 net BOPD in Q4 2017 and for the full year of 2017, VAALCO produced approximately 16,649 BOPD. The company’s
Lilis Energy, Inc. (ticker: LLEX) produced 575,229 net BOE in 2017, or 1,575 BOEPD on average. These production numbers represent an increase of 350% year-over-year. Average Q4 2017 production increased 206% to 1,925 BOEPD. “The last year in 2017 has been a very transformational one for Lilis. We positioned ourselves as a pure play Delaware Basin operator with a substantial,
PetroQuest Energy, Inc. (ticker: PQ) reported a net loss to common stockholders for Q4 2017 of $389,000, or $(0.02 per) share. This compares to Q4 2016 net loss to common stockholders of $9,659,000, or $(0.46) per share. For 2017, the company reported a net loss to common stockholders of $11,776,000, or $(0.55) per share, compared to net loss to common
Advantage Oil & Gas Ltd. (ticker: AAV) reported a net income of $95 million for 2017, or $0.51 per share. The company said that the liquids rich wells at Wembley and Progress in Alberta contributed to this positive net income. In Q4 2017, net income was $21.4 million, or $0.12 per share. Making progress at Wembley, Valhalla and Progress Advantage’s
International producer Vermilion Energy Inc. (ticker: VET) increased production by 8% from Q3 2017, reaching an average of 72,821 BOEPD in Q4 2017. For Q4 2017, Vermilion Energy reported net earnings of $8.645 million, or $0.07 per share. This compares to a net loss of $4.032 million, or $(0.03) per share in Q4 2016. Vermilion’s 2017 annual production volumes increased
Halcón Resources Corporation (ticker: HK) averaged 6,283 BOEPD in Q4 2017, comprised of 70% oil, 15% NGLs and 15% natural gas. The company generated total revenues of $25.3 million for the fourth quarter of 2017, but reported a net loss attributed to common stockholders of $93.1 million, or a net loss per basic and diluted share of $(0.63). For 2017,
Range Resources Corporation (ticker: RRC) produced 1,444 MMcf/d of natural gas, 106,038 Bbls/d of NGLs and 15,007 BPD of crude oil and condensate in Q4 2017. Also in Q4 2017, the company had a net income of $221.185 million, or $0.89 per share. This compares to a net loss of $160.709 million, or $(0.66) per share in Q4 2016. For
LINN Energy, Inc. (ticker: LNGG) reported its 2017 results today and provided details on its announced split into three entities. “Through our successful divestiture program of almost $2.0 billion, we have extinguished all our debt, executed on our share repurchase program and recently completed a sizable tender offer to return capital to our shareholders. At the same time we performed
