Wednesday, December 25, 2024

Surge Energy Exits 2017 with 15,850 BOEPD

Surge Energy Inc. (ticker: SGY) produced on average 15,675 BOEPD in Q4 2017 and exited 2017 with 15,850 BOEPD. For 2018, the company’s production guidance stands at 16,150 BOEPD. The company reported adjusted funds flow of $32.17 million, or $0.14 per share for Q4 2017. For 2017, the company reported adjusted funds flow of $103.81 million, or $0.45 per share.

Northern Oil and Gas Increases 2018 Production Guidance

Northern Oil and Gas, Inc. (ticker: NOG) expects its Q1 2018 average daily production to increase by 5% to 6% over fourth quarter 2017 – a sequential increase of nearly 1,000 BOEPD. In a similar vein, Northern will be raising its full year 2018 production guidance, and the company is now expecting average daily production to increase by 18% to

Seven Generations Energy Chalks Up $562 Million Net Income

2017 average Q4 production was 197,000 BOEPD Montney producer Seven Generations Energy Ltd. (ticker: VII) reported a net income of $83.6 million, or $0.23 per share for the fourth quarter of 2017. For the full year, the company posted a net income of $562.5 million, or $1.54 per share. Fourth quarter liquids production was 115,100 Bbls/d, which included 63,700 Bbls/d

Abraxas Petroleum Drilling the Delaware Basin, June Completions on Tap in the Williston

Abraxas Petroleum Corporation (ticker: AXAS) reported a net loss of $4.1 million, or $(0.02) per share. For 2017, the company reported a net income of $16 million, or $0.10 per share. In Q4 2017, the company produced 808 MBOE, or 8,788 BOEPD. For 2017, the company produced 2.7 MMBOE, or 7,391 BOEPD. Operations Delaware Basin In Ward County, Texas, Abraxas

Bellatrix Exploration Working on Spirit River, Cardium; $65-$60 Million CapEx in 2018

Bellatrix Exploration Ltd. (ticker: BXE) had a net loss of CDN$13.1 million, or $(0.26) per share. For 2017, the company reported a net loss of $91.4 million, or $(1.85) per share. Bellatrix produced approximately 37.1 MBOEPD in Q4 2017. The company drilled and/or participated in 2 gross (1.9 net) Spirit River wells during the fourth quarter of 2017. Completion and

Goodrich Petroleum Plans to Invest Funds in Additional Haynesville Drilling, Zipper Fracs

Goodrich Petroleum Corporation (ticker: GDP) has updated and accelerated its preliminary capital expenditure budget for 2018, following the recent $23 million asset sale. For 2018, the company’s board of directors approved a $20 million increase to $85-$95 million to accelerate development in its core Haynesville Shale acreage position. The company anticipates drilling 21 gross (8.7 net) horizontal wells for the

Rosehill Resources Drilling, Completing White Wolf in 2018

Rosehill Resources Inc. (ticker: ROSE) expects to drill 16 to 22 new wells in the White Wolf area in 2018 and expects to complete 12 to 16 of those wells. While most of these wells will have lateral lengths of approximately 5,000 feet, the company is projecting four to eight extended lateral wells greater than 7,000 feet in 2018. Rosehill

WildHorse Resource Earns $50 Million, Brings Online 90 Net Hz Wells in 2017

Almost 100 Gen 3 Eagle Ford wells were online by yearend of 2017 2018 Eagle Ford: WRD plans own in-basin sand mine, could reduce well costs $400,000-$600,000 per well WildHorse Resource Development Corporation (ticker: WRD) reported a net income of $14.1 million for Q4 2017. For 2017, the company reported a net income of $49.9 million. Net income available to

Oil & Gas 360 The U.S. energy sector, while not entering a downturn, is facing an extended period of lower oil prices, lower profits and tighter spending, ultimately leading to slower growth, fewer companies and fewer jobs

2018: The World’s Largest Public Oil & Gas Companies

In this update to our 2016 rankings, the top two slots in the list still belong to the Russian giants, Exxon is still third, and PetroChina held onto fourth place – but Shell and BP flipped positions, changing the makeup of the world’s five largest oil companies With 2017 in the books, it is a good time to see where