Post Tagged with: "Reserves"

Source: Angkor Gold Corp.

Angkor Subsidiary Receives Approval for Cambodian Oil and Gas Concession

By Tyler Losier, Energy Reporter, Oil & Gas 360

EnerCam Resources receives approval from the Royal Government of Cambodia to develop Petroleum Block VIII
EnerCam Resources Co. Ltd., a subsidiary of Canadian mineral company Angkor Gold Corp. (stock ticker: ANK:CA,

Cuda Oil and Gas Divests Quebec for US $8.05 Million

Cuda Oil and Gas Divests Quebec for US $8.05 Million

By Tyler Losier, Energy Reporter, Oil & Gas 360

Cuda Oil and Gas to sell all of its Quebec assets for a transaction value of US $8.05 Million
Cuda Oil and Gas Inc. (stock ticker: CUDA), a Calgary-based E&P with

Taking questions after OPEC/non-OPEC joint production cut announcement on Dec. 7, 2018: left to right - Alexander Novak, Minister of Energy for the Russian Federation, Khalid A. Al-Falih, Saudi Arabia’s Minister of Energy, Industry & Mineral Resources, Suhail Mohamed Al Mazrouei, the UAE Minister of Energy & Industry and president of the conference. Far right: OPEC Secretary General Mohammad Sanusi Barkindo of Nigeria.

World’s Daily Crude Oil Production Up to 75.8 Million Barrels in 2018 while OPEC Output Dips 

Largest crude oil demand growth came from Asia, Pacific regions and North America
By Bevo Beaven, Editor, Oil & Gas 360
The OPEC oil cartel published its Annual Statistical Bulletin this week. The book highlights some interesting facts from the

Goodrich Petroleum: Reserves Grow 12% in 2018, Recent Haynesville Wells Outperform

Goodrich Petroleum: Reserves Grow 12% in 2018, Recent Haynesville Wells Outperform

By Bevo Beaven, Editor, Oil & Gas 360

Goodrich Petroleum Corporation (stock ticker: GDP, $GDP) reported that its proved oil and natural gas reserves as of December 31, 2018 increased by 12% to 480 billion cubic feet equivalent (“Bcfe”) versus …

Debt Free VAALCO Plans 2019 3-Well Drilling Program from Cash on Hand, Cash from Operations

Debt Free VAALCO Plans 2019 3-Well Drilling Program from Cash on Hand, Cash from Operations

VAALCO Energy Announces 76% Increase in Proved Reserves at Year-End 2018 and a 2019 Drilling Program to Include Up to Three Development Wells Funded With Cash on Hand and Cash From Operations...

Range Resources’ PV-10 Reserve Value Jumps to $13.2 Billion in 2018, a Climb of $5.1 Billion

Range Resources’ PV-10 Reserve Value Jumps to $13.2 Billion in 2018, a Climb of $5.1 Billion

Range Announces 2018 Proved Reserves...

U.S. Oil Reserves Break 47-year Record

U.S. Oil Reserves Break 47-year Record

Oil, gas reserves at all-time highs thanks to the liberal use of the drill bit and higher commodities prices
Thank you shale revolution: oil and gas reserves are at an all-time high in the U.S., driven by the massive uptick

Lonestar Resources Plans 50% Production Growth in 2018

Lonestar Resources Plans 50% Production Growth in 2018

Lonestar Resources US Inc. (ticker: LONE) reported a net loss attributable to common stockholders of $13.7 million, or $(0.58) per share for Q4 2017. For 2017, the company had a net loss of $42.6 million, or $(1.92) per share. Net …

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 …

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 …

Razor Energy Increases Reserves by 112% in 2017

Razor Energy Increases Reserves by 112% in 2017

Razor Energy Corp. (ticker: RZE) released a new reserves report today.

Total reserve values, on a proved developed producing basis discounted at 10% before tax, were $178.3 million, which represents an increase of 112% over year-end 2016. Total PDP reserve …

U.S. NatGas Reserves Went Up, but Oil Stands Pat in 2016: EIA

U.S. NatGas Reserves Went Up, but Oil Stands Pat in 2016: EIA

U.S. proved reserves of natural gas increased 5% in 2016, compared with a 17% decline in 2015

The United States had 341.1 trillion cubic feet (Tcf) of natural gas proved reserves as of December 31, 2016, according to U.S. Crude

Netherland, Sewell & Associates, Inc. Provides Petroleum Consulting Services Worldwide

Netherland, Sewell & Associates, Inc. Provides Petroleum Consulting Services Worldwide

Netherland, Sewell & Associates, Inc. (NSAI) is a worldwide leader of petroleum property valuations for the industry, financial organizations and government agencies. NSAI delivers high quality, fully integrated engineering, operational, geological, geophysical, petrophysical and economic solutions for all facets of …

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 …

Range Resources Releases 2018 CapEx, Proved Reserves Update

Range Resources Releases 2018 CapEx, Proved Reserves Update

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 …

Midstates Petroleum: 30% oil, 24% NGLs from Miss Lime, Anadarko

Midstates Petroleum: 30% oil, 24% NGLs from Miss Lime, Anadarko

Headquartered in Tulsa, Oklahoma, Midstates Petroleum (ticker: MPO) focuses its operations on oil and liquids-rich plays in the Mississippian Lime in Oklahoma, and the Anadarko basin in Oklahoma and Texas.

The company’s Mississippian Lime assets total approximately 98,000 net acres, …

Despite 2015 Oil and Gas Reserve Decreases, Plenty of New Oil Being Found

Despite 2015 Oil and Gas Reserve Decreases, Plenty of New Oil Being Found

Proved oil and gas reserves down 11.8% and 16.6%, respectively, from year-end 2014

EIA has downgraded its estimates of proved oil and gas reserves in the U.S., according to its Crude Oil and Natural Gas Proved Reserves, Year-end 2015 report

December 14, 2016 - 6:52 pm Closing Bell Story‎, Oil and Gas 360 Articles
U.S. Holds More Total Oil Resources than Any Other Country According to New Estimates

U.S. Holds More Total Oil Resources than Any Other Country According to New Estimates

Data includes estimates of yet to be discovered resources

The U.S. has taken a new place atop the list of countries with the largest recoverable oil resource potential in the world. This places the U.S. ahead of Russia and Saudi …

Value of Norway’s Oil and Gas Fields Down 34%

Value of Norway’s Oil and Gas Fields Down 34%

Natural gas “is the single most important driver” in the $50 billion decline in the value of Norway’s oil and gas assets

Low oil and gas prices have hit Norway hard, according to the country’s government. The value of Norway’s …

World Oil & Gas Reserves Fall Just 0.1% Despite Oil Price Decline: BP

World Oil & Gas Reserves Fall Just 0.1% Despite Oil Price Decline: BP

Proved oil reserves remain sufficient to meet more than 50 years of global production; North American Shale Revolution added 15% technically recoverable oil and gas resources

The substantial decline in the value of crude oil at the end of 2014 …

Yuan Down, Part 2: Changes to How China Handles its Oil Reserves

Yuan Down, Part 2: Changes to How China Handles its Oil Reserves

At Today’s Lower Prices China is Adding 70-90 MMBoe to SPR with Strategic Crude Oil Purchases

Simultaneously to the Peoples Bank of China intentionally depreciating the Yuan last week, China’s National Energy Administration announced on May 31, 2016 that the …

Source: Sweetcrudereport.com

U.S. Looks to Sell 174 Million Barrels from the SPR between 2017-2025

Recently enacted laws call for the sale of SPR oil to reduce the budget deficit and fund new infrastructure projects

The Strategic Petroleum Reserve (SPR) is a U.S. Government complex of four sites with deep underground storage caverns created in …

December 9, 2015 - 5:45 pm Closing Bell Story‎, Oil and Gas 360 Articles
SEC Reserves Price Deck Down 48% for 2016

SEC Reserves Price Deck Down 48% for 2016

Low oil prices bring SEC price deck down to $50.13

With the end of 2015 quickly approaching, and companies preparing for a lower Securities Exchange Commission (SEC) price deck for reserves reporting, proved reserves for oil and gas companies are …

In 2014 U.S. Crude Reserves Exceed 39 Billion Barrels for the First Time in 42 Years

In 2014 U.S. Crude Reserves Exceed 39 Billion Barrels for the First Time in 42 Years

Extensions of existing fields continues to push reserves higher

The Energy Information Administration (EIA) announced today that 2014 was the fourth-highest year on record for crude oil reserves as the United States added 3.4 billion barrels of crude oil and …

November 24, 2015 - 1:19 pm Closing Bell Story‎, Oil and Gas 360 Articles
China’s Strategic Reserves Near Capacity

China’s Strategic Reserves Near Capacity

China has been stockpiling cheap oil, but may be running out of room

China’s commercial and strategic oil storage is almost full, a Sinopec (ticker: SNP) trading executive said. The executive asked not to be named despite speaking to reporters …

March 27, 2015 - 11:41 am International, Oil and Gas 360 Articles
Source: The Society of Petroleum Engineers

Mexico’s Reserves Fall 3.1%

PEMEX struggles to replace production

Mexico’s proven oil and gas reserves fell by 3.1% last year to 13.02 billion BOE as national oil-major Petroleos Mexicanos (PEMEX) was unable to find enough new reserves to replace production last year, the National …

March 12, 2015 - 5:26 pm International, Oil and Gas 360 Articles
Bellatrix Exploration: Reserves Jump after Ambitious 2014 Capital Program

Bellatrix Exploration: Reserves Jump after Ambitious 2014 Capital Program

2014 closed the largest capital program in the history of Bellatrix Exploration (ticker: BXE), and the results were evident on its latest reserves report issued on March 9, 2015. The totals, determined by an independent evaluation, showed proved reserves …

Whiting Petroleum Announces Increase in Reserves, Credit Commitments

Whiting Petroleum Announces Increase in Reserves, Credit Commitments

Whiting Petroleum (ticker: WLL), the largest producer of the Bakken/Three Forks shale play, announced estimated reserves of 780 MMBOE (83% oil) in a news release on December 22, 2014. The report was independently commissioned by a third party and represents …

Unit Corp: Three Parts Make a Whole; Grows Reserves 29% in 2012

Unit Corp: Three Parts Make a Whole; Grows Reserves 29% in 2012

Unit Corporation (ticker: UNT) is a unique company in the oil and natural gas industry. The company is a diversified energy company through its subsidiaries Unit Petroleum Co, Unit Drilling Co and Superior Pipeline Co. As such, there are a …

February 8, 2013 - 8:38 pm Midstream, Oil and Gas 360 Articles