December 8, 2014 – Oil & Gas 360

Nighthawk Energy Foresees Numerous Opportunities in Colorado’s Eastern D-J Basin

December 8, 2014

Low-Cost Vertical Drilling and Multiple Behind-Pipe Uphole Recompletions Coming in 2015 Chairman Comments in Audio Presentation Nighthawk Energy (tickers – AIM: HAWK, OTCQX: NHEGY), which operates 100% of its Smoky Hill and Jolly Ranch projects in the eastern Denver-Julesburg Basin, has released projected economic potential for its multiple-zone drilling inventory in Lincoln County, Colorado, following a comprehensive 30-day internal review of

EOG Resources Divests Majority of Canadian Assets

December 8, 2014

EOG Resources, Inc. (EOG) (EOG) today announced the divestiture of all its assets in Manitoba and certain assets in Alberta in two separate transactions that closed on November 28 and December 1, 2014. Approximate proceeds from the divestitures were US$ 410 million, net of customary transaction adjustments. As a result of these transactions, approximately US$ 150 million of restricted cash related

PDC Energy Announces 2015 Capital Budget of $557 Million and Production Guidance of 13.8 to 14.5 Million Boe or Approximately 50% Year-Over-Year Growth While Maintaining Its Strong Financial Position

December 8, 2014

PDC Energy, Inc. (“PDC,” the “Company,” “we” or “us”) (PDCE) today announced its capital budget and production guidance for 2015. 2015 Capital Budget and Production Guidance PDC’s capital budget for 2015 is approximately $557 million, a decrease of 14% compared to its 2014 capital budget. The Company’s 2015 budget includes $526 million of development capital and $31 million for lease

Breitling Energy Announces Drilling of New Wilcox Shale Project

December 8, 2014

Breitling Energy Corporation (BECC) (the “Company”) announces participation in a unique new prospect the Company believes has upside economic viability. “This is an opportunity we feel is a good fit for this environment,” said Chris Faulkner, the Company’s CEO and Chairman. “The economics look favorable today, and when the market recovers, it should look even better.” Breitling Energy is participating

Oil Prices Reach Five Year Low; ConocoPhillips Dials back 2015 Expenditures by 20%

December 8, 2014

Oil prices slid sharply in Monday trading, dropping by more than 4% to close at a five-year low of $63.02. Brent prices fell in similar fashion, ending the day below the $66.00 mark. Spot prices for WTI have dropped by 18.6% in the last month alone. The continuous price drop occurred the same day as three separate oil companies announced

India and Mexico Sign MoU

December 8, 2014

Reliance Industries Limited (ticker: RIL) and the Mexican state owned company, Petroleos Mexicanos (PEMEX) have entered into a Memorandum of Understanding (MOU) regarding cooperation on potential upstream business opportunities in Mexico and the companies will jointly evaluate value added opportunities in international markets, according to a RIL press release. RIL and PEMEX will also share expertise and skills in the

Whiting Petroleum Completes $6 Billion All-Stock Acquisition of Kodiak Oil & Gas

December 8, 2014

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

Oil & Gas 360® Looks at Canadian E&Ps – Part 5

December 8, 2014

This week’ look at Canadian E&Ps includes four companies with operations in all parts of the Americas, from Canada down to South America. Bonavista Energy Corp. (ticker: BNP) Comparative Financial and Operational Metrics for BNP (approximate numbers): Bonavista Energy Corp’s enterprise value is $2.97 billion. Trailing twelve month (TTM) production is 65.2 MBOEPD, with 2013 proved reserves of 256 MMBOE. The

Iraq Oil Dispute Resolved, Expects Increase in Production

December 8, 2014

The Iraqi government agreed on December 2 to an oil export deal with the northern region of Kurdistan, ending a dispute over oil exports with Iraq’s northern region. Earlier this year, the Iraqi government cut off funding to the Kurdish autonomous region in retaliation for the Kurds trying to sell oil produced in the north independently. The Iraqi government claims

SandRidge Energy, Inc. Declares Semi-Annual Preferred Stock Dividend

December 8, 2014

SandRidge Energy, Inc. Declares Semi-Annual Preferred Stock Dividend

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