Saturday, February 8, 2025

International Rig Count at Highest Level since January 2016

Offshore activity continues its climb By Richard Rostad, analyst, Oil & Gas 360 International drilling activity increased slightly in February, according to the latest edition of Baker Hughes’ International Rig Count. A net three international rigs came online in the month, after falling by one in January. With 1,027 rigs running, the international rig count is at the highest level

Berry Says All 2019 CapEx Will Go to California

$210 million in 2019 spending By Richard Rostad, analyst, Oil & Gas 360 Berry Petroleum (stock ticker: BRY, $BRY) announced fourth quarter results and reserves today, showing net earnings of $131.8 million, or $1.56 per share. This is the best single-quarter result Berry has recorded in its short history as a public company, though it was improved by derivatives. If

Ultra Petroleum Names CEO

Pinedale-focused Ultra earns $85.2 million in 2018 Brad Johnson, who has been interim CEO at Ultra Petroleum since early in 2018, was appointed president and CEO effective March 1, 2019. Johnson will continue as a board member. Ultra Petroleum Names Brad Johnson as president and CEO. “Brad has demonstrated the ability to lead the company in an effective and efficient manner

Activist Takes Aim at Shale-Company CEO’s Pay

From The Wall Street Journal A shareholder activist will challenge PDC Energy Inc. in an effort to change the way the oil producer pays its executives, part of a broader push by investors to force U.S. energy producers to focus more on profitability than growth. Kimmeridge Energy Management Co., which last month disclosed a 5.1% stake in PDC, said it is putting forth

Oil Drillers in New Alberta Play Shrug Off Glut, Curbs

From Bloomberg Drillers are moving ahead in a corner of Canada’s oil sands that saw a flurry of land grabs in recent years, unfazed by a glut of crude that depressed prices last year and the mandatory production cuts that followed. Cenovus Energy Inc. received regulatory approval in January to drill new wells in 35 sections of the Marten Hills region