Thursday, February 6, 2025

Jagged Peak Reports 50% Production Growth

Full-year growth of 220% expected Jagged Peak Energy (ticker: JAG) announced second quarter results today, showing net earnings of $16.4 million, or $0.08 per share. This exceeds the $5.7 million loss the company experienced in Q2 2016, before it was publically traded. Jagged Peak produced 14,614 BOEPD this quarter, 81% of which was oil. This is 50% higher than Q1

Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says - Oil&Gas360

OPEC Production Up on Libya, Nigeria Growth

Total production up 172.6 MBOPD OPEC released its Monthly Oil Market Report today, outlining the state of the oil trade and the effects of the group’s output cuts. Total OPEC oil production increased in July, by 172.6 MBOPD, which does not help Like last month, this month’s MOMR reports that Libya showed the largest increase in oil production in July.

Finding Costs Drop to 10-Year Low - Oil & Gas 360

$21.5 Billion in Defaults: E&P Bankruptcies Tapering Off, Service Companies Still Feeling the Pressure

Defaults represent a combined $21.5 billion in debt Energy attorneys Haynes and Boone have released the firm’s updated list of oil and gas bankruptcies, detailing how the continuing downcycle has affected companies. This list has tracked all oil and gas industry bankruptcies among E&P, oilfield service and midstream since 2015, totaling 293 different bankruptcies. These range from large bankruptcies, like

oil-barrels-and-markets-482px Oil Prices Drop - Oil & Gas 360

U.S. Energy Expenditure Level Lowest Since 2004

The EIA reported today that the U.S.’s expenditures for delivered energy totaled $1.127 trillion, or 6.2% of the nation’s GDP, in 2015—the lowest since 2004. The decrease was approximately 20% lower than expenses in 2014, which totaled a little over $1.4 trillion. Decreases in transportation prices Transportation expenditures made up approximately 45% of the $1.127 trillion, or about $507 billion.