Producers looking to get the most out of wells are increasing volumes of frac sand In the current price environment, companies are doing everything they can to get the most out of their wells. Falling commodity prices have made wells increasingly uneconomical, a problem that is being acutely felt during quarterly reserves ceiling tests. Operators are doing everything they can
Every year, oil and gas companies are required by the Securities Exchange Commission (SEC) to report their proved oil and gas reserves. By reporting these reserves, companies give their investors a meaningful understanding of the resources the company controls that it believes it could economically produce, establishing the size of the company’s reserves. To qualify under SEC guidelines as “proved
On the final day of EnerCom’s The Oil & Gas Conference®, a number of energy experts shared their insight into energy market opportunities. James Constas, EnerCom Managing Director EnerCom Managing Director James Constas gave a presentation called “Saudi America: the Unexpected Swing Producer.” Constas made the case that three primary factors have determined a cartel’s pricing power: a physical commodity,
Production Uplifts of 40% to 50% Whiting Petroleum (ticker: WLL), a Denver-based exploration and production company, set a personal record of 170,425 BOEPD (89% liquids) in its Q2’15 earnings release, issued on July 29, 2015. The volumes exceed the high end of guidance despite the sale of 8,300 BOEPD to date in 2015. Whiting generated $300 million in total proceeds from
North America’s Largest Energy-Focused Investor Conference Comes to Denver Aug. 16-20 Conference presenters are operating in more than 40 countries on six continents Enterprise values of presenting companies range from $160 billion to $9 million CNBC and Fox Business to broadcast live coverage from the conference The world’s oil and gas industry will showcase itself to investors in Denver in
Whiting increases capex Whiting Petroleum (ticker: WLL) announced that it will increase its capital expenditures for 2015 to $2.3 billion, $300 million more than originally planned, on the back of strong well results. According to a company press release, Whiting estimates second quarter production at 15.5 MMBOE, or 170,200 BOEPD. These production estimates represent a 2% increase over the first
From entertainment to cell phones to oil and gas, companies are scrambling to revamp business strategies to align with changing market conditions With oil prices half of what they were a year ago, energy CFOs on six continents are in overdrive sharpening their pencils, but forced adaptation to long term market changes is happening across all sectors. What’s on TV? In the
A lot of core, an electron microscope, and complex completions When Mark Williams began his lunchtime talk at last week’s AAPG national convention, except for a few knives and forks clinking plates you could have heard a pin drop. The full room, packed with about 200 of Williams’ fellow geologists and other industry pros who trekked to Denver with 6,000 other AAPG attendees,
Reports Top IP Rates from Two Williston Wells Whiting Petroleum (ticker: WLL), the largest producer and acreage holder in the Williston Basin, reported decreasing well costs and increasing production volumes in its Q1’15 earnings release issued on April 29, 2015. Total quarterly production averaged 166.9 MBOEPD (88% liquids), a sequential increase of 3% as compared to Q4’14, pro forma the
Whiting Petroleum (ticker: WLL), the largest E&P producer in the Williston Basin, shored up its balance sheet this week with a series of debt and equity raises. The deals include: Public offering of 35 million shares of common stock at $30.00/share for proceeds of $1.0 billion after deducting underwriter’s discounts and commissions. The underwriter has a 30-day option to purchase
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 a year-over-year increase of 29%, including the assets of Kodiak Oil & Gas. Whiting completed its $6 billion, all-stock acquisition
Whiting Petroleum (ticker: WLL) is officially the largest producer of the Bakken/Three Forks shale play, following its $6.0 billion purchase of Kodiak Oil & Gas on December 8, 2014. The transaction was first announced on July 13, 2014, and involves the $2.2 billion assumption of Kodiak net debt. Kodiak shareholders now hold approximately 29% of WLL. Whiting arranged $3.5 billion in
