Post Tagged with: "Rigs"
U.S. Shale Oil Output to Rise to Record 8.77 Million bpd in Sept – EIA
From Reuters
U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report …
Rig Count Sinks Beneath a Milestone Marker
First time below 1,000 since March 2018
By Richard Rostad, analyst, Oil & Gas 360
Drilling activity fell sharply today continuing the overall downward trend according to Baker Hughes’ Weekly Rig Count.
A net 21 rigs shut down in the …
International Drilling Continues Near Post-Downturn Highs
Overall rig count falls by two
By Richard Rostad, analyst, Oil & Gas 360
International drilling activity declined slightly in January, but remains near post-downturn highs, according to Baker Hughes.
A net two rigs came offline in January, bringing the …
Wyoming Has 18,000 Drilling Permits in the Queue for Approval and 30 Active Rigs
Wyoming attractive as other basins face challenges
From the Casper Star Tribune
With not enough pipeline capacity to move the prolific mineral development in Texas’s Permian basin, large firms are thinking of distributing their resources elsewhere.
A number of companies …
A Look at Activity in the Permian from Three Players’ Perspectives
Oil & Gas 360® takes a look at three companies with operations in the Permian:
- Halcón Resources Company (ticker: HK)
- Approach Resources Company (ticker: AREX)
- Apache Corporation (ticker: APA)
Halcón Resources
Production for the first quarter of 2018 averaged 10,967 …
National Oilwell Varco: Six-Quarter Streak Snapped
National Oilwell Varco (ticker: NOV) reported a first quarter 2018 net loss of $68 million, or $(0.18) per share.
Revenues for the first quarter were $1.8 billion, a decrease of 9% compared to the fourth quarter of 2017 and an …
QEP Resources Reports Q1 2018
QEP Resources, Inc. (ticker: QEP) reported a net loss of $53.6 million, or $(0.22) per diluted share for the first quarter of 2018, compared to Q1 2017 when the company had a net income of $76.9 million, or $0.32 per …
EQT Records $2.3 Billion Non-Cash Impairment Charge
EQT Corporation (ticker: EQT) reported a net loss of income attributable to EQT of $1,586 million, or $(5.99) per diluted earnings per share.
The net loss attributable to EQT for the first quarter of 2018 was impacted by an impairment …
Pennsylvania NatGas Production Second Only to Texas
Pennsylvania natural gas production has been on an upward curve since 2009.
According to the EIA, Pennsylvania averaged a record 15 Bcf/d in 2017. Producers have the Appalachian Basin to thank – Pennsylvania accounted for 19% of total U.S. marketed …
Halliburton Writes Down All Remaining Venezuela Investments
Market is 1 million to 1.5 million horsepower undersupplied
Halliburton Company (ticker: HAL) reported an income of $46 million, or $0.05 per diluted share for the first quarter of 2018. This is an improvement over Q1 2017’s net loss of …
Texas Oil and Gas Employment at Highest Level Since 2015
The oil and gas sector in Texas remained strong through March according to the Dallas Fed’s new report. Prices for WTI crude oil rose slightly in March, staying close to $63 per barrel and oil production in the Permian Basin …
North Dakota Produced 1.2 MMBOPD in Feb.; N.D. Gas Production Hit All Time High at 2.1 Bcf per Day
North Dakota’s State Industrial Commission has released new production numbers for 2018, covering the months of January and February.
In January the state produced 36.6 MMbbls of oil, or 1.2 MMBOPD, and 64,226,435 Mcf, or 2,071,820 Mcf/day.
February was another …
Nabors Industries Cuts Loss in Half
Drill rigs, equipment and software provider Nabors Industries Ltd. (ticker: NBR) reported full-year 2017 operating revenue of $2.6 billion, compared to operating revenue of $2.2 billion in the prior year. Net income from continuing operations attributable to Nabors for the …
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 …
Laredo Petroleum Expects to be Operating within Cash Flow by YE2018
Laredo Petroleum, Inc. (ticker: LPI) has released its Q4 and full-year 2017 results. For the fourth quarter of 2017, the company reported net income attributable to common stockholders of $408.6 million, or $1.70 per diluted share – this included a …
Precision Drilling Increased Rig Automation, Exits 2017 with 63 Active Rigs
Targets 2018 upgrades to stay below $34 million
Precision Drilling Corporation (ticker: PDS) had fourth quarter 2017 revenues of CDN$347 million, an increase of 15% over Q4 2016. Precision posted a Q4 2017 net loss of CDN$47 million, or (CDN$0.16) …
Ensign Energy Releases 2018 CapEx Budget, Brings on New Board Member
Ensign Energy Services Inc. (ticker: ESI) announced a CapEx of $64 million, comprised of $43 million for capital maintenance on the fleet and $21 million for equipment and optimization upgrades to the current fleet. Ensign said that the capital plan …
Precision Drilling Corporation Plans 2018 $94 Million CapEx
Precision Drilling Corporation (ticker: PDS) announced a 2018 CapEx of $94 million. The company said $62 million has been reserved for maintenance and infrastructure and $32 million will be used to upgrade existing rigs. The company said $94 million will …
Brent Returns to $60 with Highest Close Since 2015 – Rigs Fall Again
Four rigs go offline
Oil and gas industry signals were mixed this week, as the rig count and natural gas prices dropped, but oil prices rose.
U.S. drilling activity declined this week, with four land-based rigs shutting down. There are …
Double-Digit Drop in U.S. Rig Count
U.S. rig count falls by 15
The number of rigs operating in the United States continued to decline in the week ended October 20, 2017, according to Baker Hughes.
The company reported a total rig count of 913, down 15 …
With Big Players Come Big Rig Counts: XOM, COP, CVX Report Q2
In the past two days ExxonMobil Corporation (ticker: XOM), Chevron Corporation (ticker: CVX), and ConocoPhillips (ticker: COP) all reported second quarter earnings and gave operational updates.
ExxonMobil
ExxonMobil earned $3.4 billion in Q2, which brought the company’s earnings for the …
