Wednesday, November 27, 2024

Saudi Arabia’s Arrest of Prince Alwaleed ‘would be like Arresting Warren Buffett or Bill Gates’

From CNBC Robert Jordan, former U.S. ambassador to the kingdom, says, “The Saudis are going to have to be transparent about what happens.” On Saturday, 11 princes, including well-known billionaire investor Alwaleed bin Talal, were among those arrested in a corruption crackdown. The mass weekend arrests by Saudi Arabia could be due to both the stated purpose of cracking down on corruption and a

Wattenberg Drill Time Down to 3.4 Days for a 4,100-foot Lateral: Bonanza Creek Energy

Production from enhanced completions is outperforming offset wells by ~40% Bonanza Creek Q3 production volumes averaged 15.8 MBoe per day Bonanza Creek Energy, Inc. (ticker: BCEI) said that its enhanced completions and reduced cycle times are adding to top tier operational results in Q3, paving the way for development through 2018. Seth Bullock, Interim CEO commented, “I am pleased to announce

Jagged Peak Energy Targets 2 New Zones in the Permian

Unhappy with frac crew and equipment delays; appraising another 920 potential drilling locations Jagged Peak Energy (ticker: JAG) announced third quarter results today, showing a net loss of $15.2 million, or ($0.07) per share. After excluding for hedging and other special items, Jagged Peak earned a net $15.4 million in Q3. The company has continued on its trajectory of rapid

Pains in the Permian: Completions Falling Behind

CEOs discuss frac crew and equipment difficulties in earnings calls The Permian basin has been the industry’s heart-throb in recent years, but it’s not immune to growing pains. If current growth rates continue, the Permian will add about 900 MBOEPD of production from December 2016 to December 2017. This growth exceeds even that of the Eagle Ford before the price