Production Archives - Page 15 of 22

Sanchez Energy Grows Proved Reserves by 88%, Sets Production Record

February 1, 2018

Sanchez Energy Corporation (ticker: SN) released year-end 2017 proved reserves and operating results for the fourth quarter and full year 2017. Highlights Proved reserves increased by 88% during the year to approximately 363 MMBoe, with a reserve replacement ratio of roughly 762% in 2017 Fourth quarter 2017 production of nearly 7.5 MMBoe, or 81,977 BOEPD The company’s production mix during

Evolution Petroleum: Delhi Update

January 29, 2018

EnerCom Dallas presenter Evolution Petroleum Corporation (ticker: EPM) provided updated operating results for its Delhi field. Gross oil production for the quarter ended December 31, 2017 averaged almost 7,400 BOPD, up from approximately 6,900 BOPD in the prior quarter. Field production recovered from lower levels seen in the late summer that were caused by hot weather and facility downtime. Production

Suncor Energy Switches on Production at Fort Hills

January 29, 2018

Adds 194,000 barrel capacity Suncor Energy Inc. (ticker: SU) will steadily ramp up its Fort Hills production following the safe startup of secondary extraction on January 27, 2018. Fort Hills, which is located 90 kilometers north of Fort McMurray, has a capacity of approximately 194,000 BOPD, of which 103,000 BOPD is net to Suncor. As planned, the first of three

Bonanza Creek Hits High Water Marks

January 29, 2018

Bonanza Creek Energy, Inc. (ticker: BCEI) exceeded the company’s high-end of Q4 2017 estimates by producing 14.8 MBOEPD. The company is expecting Rockies production to grow by 20% in 2018 and in 2019 Bonanza Creek said it expects an increase of 50% or more. Expanding core footprint in DJ with French Lake “In 2017, we secured our strategically important leasehold

Drilling Slowdown Challenges, Invigorates Oilfield Service Providers -Oil & Gas 360 -gastar oklahoma double pump

Gastar Exploration Gets $107 Million for Hunton, Proceeds will Go to STACK Development

January 26, 2018

Gastar Exploration Inc. (ticker: GST) will divest its interest in the West Edmund Hunton Lime Unit (WEHLU) for $107.5 million. The transaction is expected to close on or before February 28, 2018, with a property sale effective date of October 1, 2017. Gastar received a deposit of 10% of the purchase price on January 25, 2018. WEHLU is primarily located

Range Resources Releases 2018 CapEx, Proved Reserves Update

January 25, 2018

Approximately 80% of 2018 capital is projected to be spent in the Marcellus, generating greater than 25% growth Range Resources Corporation (ticker: RRC) announced a 2018 capital budget of $941 million, which is below anticipated 2018 cash flow at current strip prices and generates annual production growth of approximately 11%. Additionally, Range announced a five-year outlook from 2018 through 2022

Frontera Energy Exits 2017 with 71,015 BOEPD

January 23, 2018

Latin America-focused Frontera Energy Corporation (ticker: FEC) announced an exit rate production, after royalties and internal consumption, of 71,015 BOEPD as of December 31, 2017. According to a company statement, exit rate production included 8,240 bbl/d from Block 192 in Peru, which was above previous range expectations of 6,000 to 8,000 bbl/d. Company-wide average production in the fourth quarter was

The North Sea Will Have Legs in 2018: Halliburton CEO Miller

January 22, 2018

Halliburton Company (ticker: HAL) announced a loss from continuing operations of $805 million, or ($0.92) per diluted share, for the fourth quarter of 2017. Adjusted income from continuing operations for the fourth quarter of 2017, excluding charges related to United States tax reform and Venezuela receivables, was $462 million, or $0.53 per diluted share. This compares to income from continuing

Texas Economic Activity, Oilfield Hiring Up: Dallas Federal Reserve

January 19, 2018

Activity in the Eleventh Federal Reserve District’s energy sector gained momentum in the fourth quarter of 2017, according to the Dallas Fed Energy Survey. The business activity index—the survey’s broadest measure of business conditions—climbed over 10 points to 38.1, with the increase driven by the exploration and production side of the industry. Oil and gas production increased for the fifth

North Dakota Producing Almost 1.2 Million BOPD

January 17, 2018

North Dakota production set new records in 2017 even though the rig count has gone down. At least 1.18 million BOPD was produced in October and November. North Dakota gas production hit new highs in November as well – over two million Mcf/day. Keep the oil barrels rolling Oil production in October reached 36,698,095 barrels in total, or 1,183,810 BOPD

GeoPark Issues Operational Update

January 10, 2018

GeoPark Limited (ticker: GPRK), an independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Brazil, Argentina, Chile and Peru, issued an operational update. GeoPark’s 2018 work program and budget is $100-$110 million. The company is targeting the drilling of 30-plus wells, representing a 15-20% production increase over 2017 average levels. The projects

Tesla Model 3: Slowly Moving Forward

January 4, 2018

No manufacturer ever wants to experience production problems, especially a high-profile disruptor like Tesla Inc. (ticker: TSLA). Nonetheless, Tesla reported that it delivered 1,550 Model 3s in Q4 2017. In the last seven working days of Q4, Tesla cranked out 793 Model 3s and the company expects to reach a production rate of 5,000 per week by the end of

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