2016 – Oil & Gas 360

Chesapeake Energy Completes 417 Wells in 2017

February 22, 2018

Chesapeake Energy Corporation (ticker: CHK) produced approximately 593,200 BOEPD in Q4 2017. Chesapeake’s average daily production for the 2017 full year was approximately 547,800 BOE, compared to approximately 635,400 BOE in the 2016 full year. The company’s total capital investments were approximately $2.458 billion during the 2017 full year, compared to approximately $1.697 billion in the 2016 full year. Chesapeake plans to spend about

U.S. NatGas Reserves Went Up, but Oil Stands Pat in 2016: EIA

February 13, 2018

U.S. proved reserves of natural gas increased 5% in 2016, compared with a 17% decline in 2015 The United States had 341.1 trillion cubic feet (Tcf) of natural gas proved reserves as of December 31, 2016, according to U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2016, released by the EIA. U.S. crude oil and lease condensate proved reserves

How Easy is it to Do Business in Your Country?

May 12, 2016

World Bank Ranks State of Health of World’s Economies The World Bank Group published one of its flagship annual reports this week: “Doing Business 2016: Measuring Regulatory Quality and Efficiency.” The report ranks and compares business regulation in 189 economies. World Bank calls the report an annual report on the state of health of those economies. Economies with good rules, not

Analysts have been publicly claiming that a drop in the value of the U.S. dollar is coming. Of course, this has implications for oil - Oil & Gas 360

2016: The World’s Largest Public Oil & Gas Companies

March 31, 2016

Russian Companies Top the List Forbes has released its 2016 ranking of the world’s largest public oil and gas companies. With 2015 in the books, after a year of turmoil in a capital-intensive industry that was slammed by diving oil and natural gas prices, here are the largest producing public oil and gas companies that sit atop the newest Forbes list,

Antero Resources Lowers Capex and Provides Guidance for 2016

February 19, 2016

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

Callon Petroleum Boosts Type Curves, Spells Out 2016 Permian Program

February 1, 2016

Year-End 2015 Proved Reserves Increase by 65% In an operational update on February 1, 2016, Callon Petroleum (ticker: CPE, callon.com) maintained its goal for cash flow neutrality by mid-2016 while announcing advancements in both production and its reserve base. For fiscal 2016, Callon expects average production of 11,500 to 12,000 BOEPD, representing a midpoint year-over-year increase of 23%, based on

Oil prices fall on fading storm impact, Chinese economic data - Oil&Gas360

2016 Budget Cuts Underway as Oil & Gas Majors Slash Billions in Capex

January 26, 2016

CLR, HES, NBL, and WMB Slash Nearly $6.6 Billion in 2016 Plans Lower year-over-year spending in 2016 was a foregone conclusion for many in the exploration and production space, but the amount of expenditure cuts is noteworthy, no matter how you slice it. Plans for 2016 are trickling out ahead of Q4’15 earnings season, and some of the biggest names

Husky Energy Cuts 2016 CapEx Guidance by 27%

January 19, 2016

*Figures in Canadian dollars unless stated otherwise* Husky Energy (ticker: HSE), one of Canada’s largest integrated energy companies, amended its 2016 guidance just six weeks after its initial release. The first line of the statement says, “Husky Energy is taking additional steps to improve its resilience through the extended low commodity price environment.” The additional step consists of a revised

Watch it Here: “Whiting’s Wildcatters: Micro Scale, Macro Vision”

January 6, 2016

New Oil & Gas 360® documentary shows how Bakken’s top producer is staying on top of the shale boom What does Whiting Petroleum (ticker: WLL) do differently from other producers? What process inside Whiting has begun to land some of its wells in North Dakota’s record books? Oil & Gas 360® is proud to release the documentary video, “Whiting’s Wildcatters: Micro Scale, Macro

Colorado Oil: Adams County Commissioners Vote to Put in a Temporary Moratorium on Oil & Gas Permit Applications- Oil & Gas 360

Oil & Gas Industry Looks to 2016 for Answers

January 4, 2016

Survey of Energy Industry Executives and Investment Professionals Focused on the Oil & Gas Industry In December, Oil & Gas 360® conducted a survey of industry executives and investors. We asked respondents to predict commodities pricing for 2016, as well as U.S. CapEx, global demand and U.S. production for the year ahead. Who are the respondents? 50% are executives from E&P,

Effective Tomorrow: Are the Good Times Over for Saudi Arabia?

December 28, 2015

Kingdom Hikes Petrol Prices to Offset Record 15% Budget Deficit Saudi Arabia knew there would be repercussions for its market-share-over-price strategy. The effects were apparent in its 2016 budget, released on December 28, 2015. In the first full year of sub-$50 oil prices in roughly a decade, Saudi posted a record deficit of approximately $98 billion (367 billion riyals) in

Why are You Drilling?

December 23, 2015

Does the term “bearish” even begin to describe commodity prices anymore? Oil prices are generating most of the headlines, but natural gas has it just as tough: spot prices for Henry Hub are trading at 16-year lows. The story remains the same, as the supply/demand imbalance remains tilted towards the former with headwinds applying additional downward pressure. The tightened margins

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