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 of 27 new Glacier wells that were brought on production through 2017 and higher reserves assignments on historical producing wells
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 wells were in the northern area and 21 wells were in the southern Wolfcamp joint venture area. For the full
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 for 2019 and 2020, projected numbers are 485 MMBOE and 500 MMBOE, respectively. A stampede of projects CNOOC has scheduled
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. We strengthened our financial framework during the year through an $8 billion reduction in our net debt…,” the CEO said
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 budget includes approximately $630-$685 million for D&C activities and approximately $140-$150 million for non-D&C activities, including midstream capital expenditures associated
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 levels, the overall oil consumption in the U.S. was multiplied by the SEC standard oil price for that year. The
