Antero Resources announced on February 17, 2016, the company’s capital budget and guidance for the 2016 fiscal year. 2016 capital spending will be reduced to $1.4 billion from $1.8 billion, a reduction of 23%. The new capital plan includes an average of 7 drilling rigs between the Marcellus and Utica shale plays, a 50% reduction form the 14 rigs operated
Just 14% of 2016 production hedged With oil and gas prices holding lower for longer, many operators are looking for ways to protect as much of their production as possible. Hedges have offered some level of protection to producers through the commodity price rout, but with just an estimated 14% of production hedged in 2016, according to Reuters, producers are
Cabot continues beating estimates amid global glut Many oil and gas companies are struggling to stay afloat as the global oil supply glut continues, pressuring crude oil prices near historic lows. More bankruptcies are expected to come in the next six months as bank redeterminations take their toll on companies with fewer reserves to use as collateral for their credit
Oil rig count continues to see the steepest declines The U.S. rig count continued to fall this week as WTI crude oil prices remained near $30 per barrel. The total number of rigs operating in the U.S. fell to 514 in the week ended February 19, down 5% from a week ago, according to Baker Hughes (ticker: BHI, BakerHughes.com). The
From CBC: Alberta’s energy department will be holding meetings in the coming weeks to discuss the threat of cyberattacks on oil-and-gas infrastructure — an issue that was flagged in a recent report by the province’s auditor general. The report noted that the Alberta government does not require provincially regulated oil-and-gas operators to meet minimum IT security standards for the systems
EQT Corp. issued 7.475 million shares (includes overallotment) at a price to the public of $58.50 per share for gross proceeds of ~$426 million. The offering price was at a ~4% discount to yesterday’s close. The company’s line for the capital issuance was to maintain its investment grade rating. At Sept 30, 2015, EQT had cash of $1.66 billion, no
Basic Energy Services Cabot Oil & Gas Cheniere Energy Inc. Dundee Energy Ltd. Enbridge Inc. Enerplus Corp. Freestone Resources Inc.
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