Post Tagged with: "Production"

VAALCO Energy Earns $0.17 Per Share in 2017

VAALCO Energy Earns $0.17 Per Share in 2017

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 …

DCIM101MEDIADJI_0116.JPG rig

Lilis Energy Firing on all Cylinders

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 …

PetroQuest Energy Cuts Loss to $0.02 for Q4

PetroQuest Energy Cuts Loss to $0.02 for Q4

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 …

Advantage Oil & Gas Reports 2017 Profit of $95 Million

Advantage Oil & Gas Reports 2017 Profit of $95 Million

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. …

Vermilion Energy Increases Dividend, Reduces Debt

Vermilion Energy Increases Dividend, Reduces Debt

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 …

Halcón Resources Keeps Expanding in 2017 and 2018

Halcón Resources Keeps Expanding in 2017 and 2018

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 …

Range Resources Earns $333 Million in 2017, Plans $941 Million CapEx

Range Resources Earns $333 Million in 2017, Plans $941 Million CapEx

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 …

LINN Energy Debt Free, Outlines Plan to Split into Three Companies

LINN Energy Debt Free, Outlines Plan to Split into Three Companies

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 …

Alta Mesa Produces 21 MBOEPD in 2017, Increases Rigs for 2018

Alta Mesa Produces 21 MBOEPD in 2017, Increases Rigs for 2018

Alta Mesa Resources, Inc. (ticker: AMR) produced 21,000 BOEPD in 2017, a 50% increase over 2016 net production of approximately 13,000 BOEPD. Total production mix for full-year 2017 was 52% oil, 17% natural gas liquids and 31% natural gas.

Fourth …

Centennial Resource Development Equity Private Placements Now Total $910 Million

Centennial Resource Development Plans ~$1 Billion 2018 CapEx

Delaware Basin producer Centennial Resource Development, Inc. (ticker: CDEV) had average daily oil and total equivalent production volumes of 19,161 Bbls/d and 31,864 BOEPD, respectively. Centennial said that these production volumes represent an increase of 233% for daily oil and …

Comstock Resources’ Haynesville Shale Drilling Program Expands 2017 Gas Production by 90%

Comstock Resources’ Haynesville Shale Drilling Program Expands 2017 Gas Production by 90%

Haynesville producer Comstock Resources, Inc. (ticker: CRK) produced 22 Bcf of natural gas and 214,000 barrels, or 23.5 Bcfe in the fourth quarter of 2017.

Natural gas production averaged 241 MMcf/d, reflecting growth of 90% from pro forma natural gas …

Whiting Petroleum: 2018 CapEx of $750 Million, 100-Plus Wells Planned

Whiting Petroleum: 2018 CapEx of $750 Million, 100-Plus Wells Planned

Whiting Petroleum (ticker: WLL) has a 2018 capital budget of $750 million, of which $600 million will be invested in Williston Basin operations. The capital budget forecasts a production growth of 9% from Q4 2017 to Q4 2018, with an …

Unit Corporation Produces 4.3 MMBOE in 2017

Unit Corporation Produces 4.3 MMBOE in 2017

In the fourth quarter of 2017, Unit Corporation (ticker: UNT) recorded a net income of $89.2 million, this compares to a net income of $1.7 million for Q4 2016. $81.3 million of the net income was accounted for as a …

Chesapeake Energy Completes 417 Wells in 2017

Chesapeake Energy Completes 417 Wells in 2017

Chesapeake Energy Corporation (ticker: CHK) produced approximately 593,200 BOEPD in Q4 2017. Chesapeake’s average daily production for the 2017 full year was approximately 547,800 BOE, compared to approximately 635,400 BOE in the 2016 full year.

The company’s total capital investments …

WPX Grows Oil Production 47% in Q4, Forecasts $1 Billion 2018 Drilling CapEx

WPX Grows Oil Production 47% in Q4, Forecasts $1 Billion 2018 Drilling CapEx

WPX Energy (ticker: WPX) reported Q4 2017 oil volumes of 75,200 BOPD, which was 68% higher than a year ago, and 16% higher than Q3 2017.

WPX’s first two North Sunday Island wells in the Williston Basin have 120-day cumulative …

Devon Energy Accelerates Production to 195 MBOEPD

Devon Energy Accelerates Production to 195 MBOEPD

Devon’s early ’18 production from Delaware, STACK up 20% over 2017 average

Devon Energy Corp. (ticker: DVN) accelerated production growth in early 2018. The company’s Delaware Basin and STACK assets are producing approximately 195,000 BOEPD. The combined daily production rates …

Concho Resources Produces 70 MMBOE

Concho Resources Produces 70 MMBOE

Concho Resources Inc. (ticker: CXO) produced 19 MMBOE in Q4 2017, an average of 211 MBOEPD. This is 28% more than Q4 2016 and 9% more than Q3 2017. Average daily crude oil production for fourth-quarter 2017 totaled 130 MBOPD, …

Cimarex Energy Earns $5.19 per Share in 2017

Cimarex Energy Earns $5.19 per Share in 2017

  • Fourth quarter 2017 net income of $174.7 million, or $1.83 per share, compared to fourth quarter 2016 net income of $47.8 million, or $0.50 per share
  • For 2017, net income totaled $494.3 million, or $5.19 per share

Cimarex Energy Co. …

Marathon Oil Preps for $2.3 Billion CapEx in 2018, Forecasts ~400 MBOEPD Net Production

Marathon Oil Preps for $2.3 Billion CapEx in 2018, Forecasts ~400 MBOEPD Net Production

Marathon Oil Corporation (ticker: MRO) will have a $2.3 billion capital budget for 2018. The company said the budget is self-funding at $50 average WTI and will generate free cash flow at $60 average WTI. More than 90% will be …

Occidental Petroleum Averaged 621 MBOEPD in Q4

Occidental Petroleum Averaged 621 MBOEPD in Q4

Occidental Petroleum Corporation (ticker: OXY) reported net income of $497 million, or $0.65 per diluted share, for the fourth quarter of 2017, compared with $190 million, or $0.25 per diluted share, for the third quarter of 2017.

Core income for …

Diamondback Energy Earns $115 Million in Q4, Earmarks $1.3 Billion-$1.5 Billion 2018 Permian Spend

Diamondback Energy Earns $115 Million in Q4, Earmarks $1.3 Billion-$1.5 Billion 2018 Permian Spend

Diamondback Energy, Inc. (ticker: FANG) pulled in a net income of $115 million in the fourth quarter of 2017, or $1.16 per diluted share. Diamondback spent $246 million on drilling, completions, non-operated properties and $61 million on infrastructure in the …

IEA World Oil Demand (mb/d = Millions of Barrels per Day), Feb. 2018

World Hungers for Oil: IEA

The International Energy Agency (IEA) released a new Oil Market Report (OMR) today.

In its OMR, the IEA said countries across the globe have been steadily consuming more and more oil over the past few years.

The IEA said that …

Denbury Resources Plans $300 Million 2018 CapEx

Denbury Resources Plans $300 Million 2018 CapEx

Denbury Resources Inc. (ticker: DNR) released its preliminary year-end 2017 proved reserves, production and capital expenditures, along with its 2018 capital budget and estimated annual production.

Preliminary Q4 2017/annual production

Denbury’s production averaged 61,144 BOEPD (97% oil) during the fourth …

Advantage Oil & Gas Averaged Production of Nearly 40 MBOEPD in 2017

Advantage Oil & Gas Averaged Production of Nearly 40 MBOEPD in 2017

Advantage Oil & Gas Ltd. (ticker: AAV) released Q4 2017 and year-end 2017 results today. The company added reserves, increased annual production by 16% and spent $249 million in 2017.

Growing reserves

PDP reserves increased 27% due to the recognition …

ExxonMobil Stacks 2.7 Billion More Barrels into Reserves, Bringing 2017 Total to 21.2 Billion Barrels

ExxonMobil Stacks 2.7 Billion More Barrels into Reserves, Bringing 2017 Total to 21.2 Billion Barrels

Exxon Mobil Corporation (ticker: XOM) added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of 2017 production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57% of the …

Pioneer Natural Resources on a Permian Tear: 224 Wells Drilled in 2017, 20 Rigs Operating in 2018

Pioneer Natural Resources on a Permian Tear: 224 Wells Drilled in 2017, 20 Rigs Operating in 2018

250-275 gross wells expected to be on production in the Permian Basin in 2018

$2.6 billion 2018 Permian-focused CapEx

Pioneer Natural Resources (ticker: PXD) placed 64 horizontal wells on production in the fourth quarter of 2017. In the Permian, 43 …

Jones Energy Spends $248 Million in 2017, Prepares Merge Play CapEx

Jones Energy Spends $248 Million in 2017, Prepares Merge Play CapEx

Jones Energy, Inc. (ticker: JONE) produced 21,207 BOEPD in Q4 2017, 6.5% above the company’s midpoint guidance. Oil volumes made up 29% of total production at 6,217 BOPD and NGL volumes represented 30% of Q4 production.

For the full year …

CNOOC 2018: 470 MMBOE Target, $11 Billion CapEx

CNOOC 2018: 470 MMBOE Target, $11 Billion CapEx

CNOOC Limited (ticker: CEO) plans to target 470-480 MMBOE for its net production goal in 2018. The geographic production areas are split between China (64%) and overseas (36%). The company’s net production for 2017 stood at approximately 469 MMBOE. As …

Stone Energy: Production, Reserves and CapEx Update

Stone Energy: Production, Reserves and CapEx Update

Stone Energy Corporation (ticker: SGY) estimates that its 2018 capital expenditure budget will reach up to $212 million. The budget allocates 36% to exploration, 27% to development and 37% to P&A expenditures.

Interim CEO and President James M. Trimble said, …

Source: BBI

Blackbird Energy Glides Into 2018

Blackbird Energy Inc. (ticker: BBI) has provided an update regarding its operations. Blackbird’s total corporate January sales production averaged an estimated 1,978 BOEPD (58% liquids) for the 17 days the company was able to produce during the month.

Estimated sales …