Wednesday, December 25, 2024

PetroQuest Energy Cuts Loss to $0.02 for Q4

PetroQuest Energy, Inc. (ticker: PQ) reported a net loss to common stockholders for Q4 2017 of $389,000, or $(0.02 per) share. This compares to Q4 2016 net loss to common stockholders of $9,659,000, or $(0.46) per share. For 2017, the company reported a net loss to common stockholders of $11,776,000, or $(0.55) per share, compared to net loss to common

Halcón Resources Keeps Expanding in 2017 and 2018

Halcón Resources Corporation (ticker: HK) averaged 6,283 BOEPD in Q4 2017, comprised of 70% oil, 15% NGLs and 15% natural gas. The company generated total revenues of $25.3 million for the fourth quarter of 2017, but reported a net loss attributed to common stockholders of $93.1 million, or a net loss per basic and diluted share of $(0.63). For 2017,

Goodrich Petroleum Closes Sale, Reports Q4

In its Q4/year-end release, Goodrich Petroleum Corporation (ticker: GDP) said it has recently closed on the sale of certain production, facilities, infrastructure and a portion of its acreage in the Angelina River Trend to BP America Production Company. Goodrich said it will use a portion of the proceeds from the sale to pay off its revolver, with plans to accelerate

Range Resources Earns $333 Million in 2017, Plans $941 Million CapEx

Range Resources Corporation (ticker: RRC) produced 1,444 MMcf/d of natural gas, 106,038 Bbls/d of NGLs and 15,007 BPD of crude oil and condensate in Q4 2017. Also in Q4 2017, the company had a net income of $221.185 million, or $0.89 per share. This compares to a net loss of $160.709 million, or $(0.66) per share in Q4 2016. For

The Shale Boom in the Permian Is Slowing Down - 360

Bill Barrett: Conference Call Reveals Fifth Creek Merger Details

Colorado-based Bill Barrett Corporation (ticker: BBG) reported Q4 and year-end results today. For the fourth quarter of 2017, the company reported a net loss of $77.8 million, or $(0.94) per diluted share. For 2017 as a whole, the company reported a net loss of $138.2 million, or $(1.80) per diluted share. BBG entered 2018 with $314 million of cash and

Oasis Petroleum Doubles Down in the Williston Basin

Oasis Petroleum Inc. (ticker: OAS) reported net income attributable to Oasis of $124.6 million in the fourth quarter of 2017. Fourth quarter 2017 results included a benefit of $171.9 million due to the recently enacted Tax Cuts and Jobs Act. For the full year of 2017, Oasis reported net income attributable to Oasis of $123.8 million. The company produced 73,207

LINN Energy Debt Free, Outlines Plan to Split into Three Companies

LINN Energy, Inc. (ticker: LNGG) reported its 2017 results today and provided details on its announced split into three entities. “Through our successful divestiture program of almost $2.0 billion, we have extinguished all our debt, executed on our share repurchase program and recently completed a sizable tender offer to return capital to our shareholders. At the same time we performed

Alta Mesa Produces 21 MBOEPD in 2017, Increases Rigs for 2018

Alta Mesa Resources, Inc. (ticker: AMR) produced 21,000 BOEPD in 2017, a 50% increase over 2016 net production of approximately 13,000 BOEPD. Total production mix for full-year 2017 was 52% oil, 17% natural gas liquids and 31% natural gas. Fourth quarter 2017 production was approximately 22,000 BOEPD, a greater than 45% increase over approximately 15,000 BOEPD in the fourth quarter

Congress Renews Crude Oil Excise Tax

Ryan, LLC, a global tax service and software provider, reported that the Bipartisan Budget Act of 2018 (passed on February 9, 2018) contained a number of tax extenders, including a one-year retroactive extension of the Energy Efficient Commercial Building Deduction. The legislation also extends through 2017 a variety of other credits and incentives relating to energy production and conservation: Credit

Whiting Petroleum: 2018 CapEx of $750 Million, 100-Plus Wells Planned

Whiting Petroleum (ticker: WLL) has a 2018 capital budget of $750 million, of which $600 million will be invested in Williston Basin operations. The capital budget forecasts a production growth of 9% from Q4 2017 to Q4 2018, with an estimated average annual production of 128,400 BOEPD. In the Williston Basin alone, production is forecasted to grow 14% from Q4

Unit Corporation Produces 4.3 MMBOE in 2017

In the fourth quarter of 2017, Unit Corporation (ticker: UNT) recorded a net income of $89.2 million, this compares to a net income of $1.7 million for Q4 2016. $81.3 million of the net income was accounted for as a tax benefit associated with the Tax Cuts and Jobs Act enacted during the quarter. Total revenues for the quarter were

Cabot Oil & Gas Earns $100 Million in 2017, Plans $950 Million 2018 CapEx

Cabot Oil & Gas Corporation (ticker: COG) produced 685.3 Bcfe in 2017. The production mix consisted of 655.6 Bcf of natural gas, 4,440.9 Mbbls of crude oil and condensate and 512.1 Mbbls of NGLs. Cabot incurred a total of $757.2 million of capital expenditures in 2017, including $637.2 million of drilling and facilities capital associated with drilling 91 gross (82.5