Private E&P is Evaluating $500 Million to $1.5 Billion Opportunities in the D-J, Permian and Utica Exclusive Interview with Oil & Gas 360 Fifth Creek Energy is a private E&P company, formed by Michael Starzer and Patrick Graham, the founders of Bonanza Creek Energy (ticker: BCEI) and its predecessor companies. Last week, Fifth Creek and Natural Gas Partners (NGP) announced
Utica/Point Pleasant well sets Appalachia record Range Resources (ticker: RRC) announced today its 2015 capital budget and initial results from its Utica/Point Pleasant well located in Washington County, Pennsylvania. Range has set its 2015 capital budget at $1.3 billion, a decrease of 18% versus its 2014 capital budget. The company said that the decrease is a result of improving capital
American Energy Partners, LP was founded by Aubrey K. McClendon in April 2013. The Oklahoma City-based company aims to capitalize on opportunities available in unconventional resource plays onshore in the United States. McClendon co-founded Chesapeake Energy (ticker: CHK) in 1983 and served as its CEO until April 2013. On October 9, 2013, American Energy – Utica, LLC (AEU), an affiliate
PDC Energy (ticker: PDCE) is an independent natural gas and oil company that operates in Colorado within the liquid-rich Wattenberg Field and the Appalachian Basin including the emerging liquid-rich Utica Shale play in Ohio and the Marcellus Shale in West Virginia. Click here for the news release. The company’s transcript can be found here. PDC Energy announced in their second
Magnum Hunter Resources (ticker: MHR) is an oil and natural gas exploration and production company active in three shale resource plays in North America: the Marcellus Shale, Utica Shale and the Williston Basin/Bakken Shale. The company’s growth platform is supported with approximately 350,000 net acres spread across its core operating regions. MHR’s first quarter 10Q filing was much anticipated. Due
PDC Energy Inc (ticker: PDCE) is engaged in the exploration, development and production of crude oil, NGLs and natural gas. The company’s operations are focused primarily in the Wattenberg Field of Colorado, including the horizontal Niobrara and Codell plays, the Utica Shale in Ohio, and the Marcellus Shale in West Virginia. 2012 was a transformative year for PDC Energy with
Even though Magnum Hunter Resources Corp (ticker: MHR) was an early entrant into the Utica Shale (2010), the company elected to wait and watch the play’s development during 2011 and 2012. Most companies don’t have the luxury in an emerging basin to wait and watch due to lease expiry concerns. However, the majority of MHR’s acreage prospective for the Utica
Magnum Hunter Resources Corp (ticker: MHR) is an oil and natural gas exploration and production company active in five unconventional shale resource plays in North America: the Marcellus Shale, Utica Shale, Eagle Ford Shale, Pearsall Shale and Williston Basin/Bakken Shale. With approximately 631,300 net acres spread across these five plays – needless to say, Magnum Hunter Resources has established a
Magnum Hunter Resources Corp (ticker: MHR) announced it will acquire Viking International Resources, a private company with approximately 51,500 net acres primarily in the Marcellus and Utica plays, for $106.7 million. The deal will be funded with $37.3 million in cash and $69.4 million in convertible preferred stock. The preferred stock will pay an annual dividend of 8% and will
In only six months, Magnum Hunter Resources (ticker: MHR) increased its estimated total proved reserves by 51%, or 22.8 MMBOE. The company now estimates owning 67.7 MMBOE of proved reserves, 64% oil. What caused the increase? A combination of organic drilling extensions, as well as acquisitions (Magnum Hunter’s Chief Executive Officer Gary Evans’ effective and proven strategy to build, develop
Magnum Hunter Resources (MHR) is engaged in the exploration for and the exploitation, acquisition, development and production of crude oil, natural gas and natural gas liquids, in three unconventional shale resource plays in North America: the Marcellus Shale, Utica Shale, Eagle Ford Shale and Williston Basin/Bakken Shale. In total, the company owns approximately 560,072 net acres, with 170,000 net acres
BP (NYSE: BP) announced an agreement to lease approximately 84,000 acres in northeast Ohio targeting the Utica/Point Pleasant shale formation from the Associated Landowners of the Ohio Valley (ALOV). The ALOV is a local Ohio group representing area mineral owners. The 84,000 acres are located in Trumbull County, Ohio. BP reported in the news release terms of the agreement, to
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