Post Tagged with: "spending"

U.S. Shale Oil Output to Rise to Record 8.77 Million bpd in Sept – EIA

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 …

Chevron Aims $3.6 Billion at the Permian in 2019

Chevron Aims $3.6 Billion at the Permian in 2019

Chevron announces a $20-billion total CapEx budget for 2019
Yesterday, Chevron Corporation (stock ticker: CVX) provided more details on its 2019 organic capital and exploratory spending program.

Total capital and exploratory expenditures will increase approximately 9.3% from 2018-2019, including  an

December 7, 2018 - 3:51 pm Closing Bell Story‎, Popular 2
Courtesy of HighPoint Resources

HighPoint Resources Drops Completion Time to 4.2 Days per Well; Wants to Bring Second Rig to Hereford

HighPoint Resources Corporation (ticker: HPR) reported a net income loss of $24.9 million, or $(0.20) per share for the first quarter of 2018. HighPoint produced 1.91 MMBoe in the quarter, which was at the midpoint of its guidance range of …

Courtesy of WPX Energy

WPX Energy: Daily Production 76% Higher than Year Ago

WPX Energy, Inc. (ticker: WPX) reported a net loss of $119 million, or $(0.30) per common share for the first quarter of 2018. Production for the quarter reached 102.7 MBOEPD, a 6% sequential increase over Q4 2017 and 76% higher …

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

SM Energy Expects to Produce up to 44.9 Million BOE in 2018

100% year-over-year growth in Midland Basin production; realized price is SM’s highest level in 14 quarters: $37.76/BOE average

Midland Basin operations up to nine rigs and five completions crews; SM expects to double completions in Q2

The Midland Basin produced …

Total and Aramco will Build a $9 Billion Petrochem Complex Next Door to SATORP Refinery

Total and Aramco will Build a $9 Billion Petrochem Complex Next Door to SATORP Refinery

Saudi Aramco and Total (ticker: TOT) have signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia.

Located next to the SATORP refinery in the same industrial area, the complex will comprise a mixed-feed steam …

Surge Energy Exits 2017 with 15,850 BOEPD

Surge Energy Exits 2017 with 15,850 BOEPD

Surge Energy Inc. (ticker: SGY) produced on average 15,675 BOEPD in Q4 2017 and exited 2017 with 15,850 BOEPD. For 2018, the company’s production guidance stands at 16,150 BOEPD.

The company reported adjusted funds flow of $32.17 million, or $0.14 …

Earthstone Energy Targets Midland Basin with ~$130 Million CapEx, Plans to Spud 10 Net Wells

Earthstone Energy Targets Midland Basin with ~$130 Million CapEx, Plans to Spud 10 Net Wells

Targeting 12-12.5 MBOEPD production for 2018

Earthstone Energy, Inc. (ticker: ESTE) posted a net income of $2.3 million, or $0.09 per share in Q4 2017. For 2017, the company reported a net loss of $12.5 million, or $(0.53) per share.…

Pacific Bora drilling rig arrives at Oyo-9 field in
deepwater offshore Nigeria

Energy XXI Prepares 2018 CapEx of $145-$175 Million

Energy XXI Gulf Coast, Inc. (ticker: EXXI) has approved a 2018 capital expenditure budget in the range of $145-$175 million, which includes funding of EGC’s most active drilling program since 2014, as well as recompletions, facilities improvements, plugging and abandonment …

February 20, 2018 - 1:03 pm Closing Bell Story‎, Mexico, Offshore, Oil and Gas 360 Articles
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. …

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 …

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 …

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 …

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 …

Edelman - LNG 17 Shell speakers, participants, booths and displays, Wednesday, April 17, 2013.

Shell Earned $4.3 Billion for Q4, $15.8 Billion for 2017

Royal Dutch Shell (ticker: RDS.A) CEO Ben van Beurden had some things to celebrate in his company’s year-end reporting today.

“We were able to deliver $39 billion of cash flow from operations excluding working capital movements from our upgraded portfolio. …

Gulfport Energy’s ~$800 Million CapEx to Fall Within Cash Flow

Gulfport Energy’s ~$800 Million CapEx to Fall Within Cash Flow

Gulfport Energy Corporation (ticker: GPOR) has announced that:

  • 2018 CapEx budget will be funded within cash flow,
  • $100 million outstanding common stock will be repurchased this year,
  • 2018 operational outlook forecasts 1,250 MMcfe/d

2018 CapEx and production guidance

The 2018 …

U.S. Spent $991 Million per Day on Petroleum Products in 2015

U.S. Spent $991 Million per Day on Petroleum Products in 2015

Every day in 2015, the United States spent $991 million on petroleum consumption, the lowest daily total since 2008. Consumption levels in the U.S. have decreased slightly to 19.72 MMBoepd since peaking in 2007 at 20.94 MMBoepd.

To determine spending …