2018 – Page 7 – 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

WPX Grows Oil Production 47% in Q4, Forecasts $1 Billion 2018 Drilling CapEx

February 22, 2018

WPX Energy (ticker: WPX) reported Q4 2017 oil volumes of 75,200 BOPD, which was 68% higher than a year ago, and 16% higher than Q3 2017. WPX’s first two North Sunday Island wells in the Williston Basin have 120-day cumulative production of more than 576,000 BOE (81% oil), consisting of 298,000 BOE from the Hidatsa North 14-23HX well and 278,000

Devon Energy Accelerates Production to 195 MBOEPD

February 21, 2018

Devon’s early ’18 production from Delaware, STACK up 20% over 2017 average Devon Energy Corp. (ticker: DVN) accelerated production growth in early 2018. The company’s Delaware Basin and STACK assets are producing approximately 195,000 BOEPD. The combined daily production rates from these two assets represent a 10% increase over the fourth quarter of 2017, and a ~20% increase compared to

Energen Approaches 100 MBOEPD

February 20, 2018

Energen Corporation (ticker: EGN) released financial and operating results for the fourth quarter and calendar year ended December 31, 2017. “Over the last five years, the board and management have strategically divested non-core assets and transformed Energen into a low-cost Permian pure-pay with a strong foundation for profitable growth,” said CEO James McManus. “We begin 2018 with a portfolio of

PetroQuest: Two Cotton Valley Wells Completed

February 20, 2018

PetroQuest Energy, Inc. (ticker: PQ) has new results from its horizontal Cotton Valley drilling program in East Texas. The company recently completed two wells (PQ #29 – 52% NRI and PQ #30 – 59% NRI) which established a cumulative maximum 24-hour gross daily rate of 18,385 Mcf of gas, 1,354 barrels of NGLs and 55 barrels of oil, for an

No Stream Like Midstream

February 19, 2018

TransCanada, Enbridge and Spectra queue up pipeline projects across all of North America TransCanada adds Canadian capacity TransCanada Corporation (ticker: TRP) has a new $2.4 billion NGTL system expansion coming on-line within four years. The NGTL moves gas from the North Montney in British Columbia to and through Alberta to Saskatchewan and/or delivery access to the Canadian west coast for

EnerCom Dallas Oil & Gas Investment Conference Kicks Off Wednesday

February 19, 2018

One-on-one meeting requests are open on conference registration page for buyside attendees EnerCom’s Texas-based oil and gas investment conference—EnerCom Dallas—will feature presentations from C-level executives at publicly traded and private oil and natural gas companies, as well as energy economists and other experts who will discuss global energy trends and projected economics for the industry in 2018 and 2019. Economists

Cimarex Energy Earns $5.19 per Share in 2017

February 15, 2018

Fourth quarter 2017 net income of $174.7 million, or $1.83 per share, compared to fourth quarter 2016 net income of $47.8 million, or $0.50 per share For 2017, net income totaled $494.3 million, or $5.19 per share Cimarex Energy Co. (ticker: XEC) averaged 1,204 MMcfe/d in Q4 2017 – this equates to 201 MBOEPD, and is up 25% from a

Marathon Oil Preps for $2.3 Billion CapEx in 2018, Forecasts ~400 MBOEPD Net Production

February 15, 2018

Marathon Oil Corporation (ticker: MRO) will have a $2.3 billion capital budget for 2018. The company said the budget is self-funding at $50 average WTI and will generate free cash flow at $60 average WTI. More than 90% will be directed to four U.S. resource plays. Almost 60% of the development budget will be allocated to the Eagle Ford and

Laredo Petroleum Expects to be Operating within Cash Flow by YE2018

February 15, 2018

Laredo Petroleum, Inc. (ticker: LPI) has released its Q4 and full-year 2017 results. For the fourth quarter of 2017, the company reported net income attributable to common stockholders of $408.6 million, or $1.70 per diluted share – this included a $405.9 million gain on the sale of Laredo’s investment in the Medallion-Midland Basin pipeline system. Adjusted net income (non-GAAP), for

Occidental Petroleum Averaged 621 MBOEPD in Q4

February 14, 2018

Occidental Petroleum Corporation (ticker: OXY) reported net income of $497 million, or $0.65 per diluted share, for the fourth quarter of 2017, compared with $190 million, or $0.25 per diluted share, for the third quarter of 2017. Core income for the fourth quarter of 2017 was $313 million, or $0.41 per diluted share, compared with $137 million, or $0.18 per diluted

Denbury Resources Plans $300 Million 2018 CapEx

February 13, 2018

Denbury Resources Inc. (ticker: DNR) released its preliminary year-end 2017 proved reserves, production and capital expenditures, along with its 2018 capital budget and estimated annual production. Preliminary Q4 2017/annual production Denbury’s production averaged 61,144 BOEPD (97% oil) during the fourth quarter of 2017, with CO2 tertiary properties accounting for 65% of overall production. Denbury’s continuing production for full-year 2017 averaged

Premium Content