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
Samson Oil & Gas (ticker: SSN) has nearly doubled its output overnight, announcing a $16.5 million acquisition on January 6, 2016. The properties currently produce 720 BOPD from 41 net producing wells and contain proved reserves of 8.5 MMBO as of October 1, according to estimates from Netherland, Sewell & Associates. On a cash comparison, SSN is paying $22,916 for
The Bakken Shale and the state of North Dakota are symbols of the hydraulic fracturing revolution, and innovations on hydrocarbon extraction continue to improve the process with each passing day. The technological advances vary across all lines of production, spanning from operations at the wellhead to lab research at the company headquarters. Among the innovators is GTUIT®, LLC, a privately
Natural gas expected to continue growth after more than a decade of decline Industrial use of natural gas is up 24% from 2009 levels of consumption after more than a decade of steady declines. Industrial facilities, including methanol plants and ammonia- or urea-based plants, consumed an average of 21.0 Bcf/d of natural gas in 2014. Several more major projects are
Next Up: IPO Hess Corporation (ticker: HES) has announced plans for a 50/50 joint venture (JV) consisting of its midstream assets in the Bakken Shale. The company will receive cash consideration of $2.675 billion from its partner, Global Infrastructure Partners (GIP), as part of the agreement. The full value of the deal is $5.35 billion. GIP is a private equity
Reports Top IP Rates from Two Williston Wells Whiting Petroleum (ticker: WLL), the largest producer and acreage holder in the Williston Basin, reported decreasing well costs and increasing production volumes in its Q1’15 earnings release issued on April 29, 2015. Total quarterly production averaged 166.9 MBOEPD (88% liquids), a sequential increase of 3% as compared to Q4’14, pro forma the
North Dakota has been the poster child of the United States shale boom, boasting skyrocketing production, high economic growth rates and miniscule unemployment numbers. The discovery and exploitation of the Williston Basin has increased crude output in the state by more than six times from 2008 to 2014, ending the most recent year with average volumes of 1,087 MBOPD. North
Whiting Petroleum (ticker: WLL), the largest producer of the Bakken/Three Forks shale play, announced estimated reserves of 780 MMBOE (83% oil) in a news release on December 22, 2014. The report was independently commissioned by a third party and represents a year-over-year increase of 29%, including the assets of Kodiak Oil & Gas. Whiting completed its $6 billion, all-stock acquisition
Whiting Petroleum (ticker: WLL) is officially the largest producer of the Bakken/Three Forks shale play, following its $6.0 billion purchase of Kodiak Oil & Gas on December 8, 2014. The transaction was first announced on July 13, 2014, and involves the $2.2 billion assumption of Kodiak net debt. Kodiak shareholders now hold approximately 29% of WLL. Whiting arranged $3.5 billion in
EOX Says Breakeven Price in the Bakken is $55/BOE Emerald Oil is a pure play Williston Basin E&P with operations targeting the Bakken, Pronghorn and Three Forks shale oil formations. The company averaged production of 3,855 BOEPD in its Q3’14 results, along with net income of $13.7 million ($0.21 per share). The results represent respective increases of 3% and 80%
Plant will use Ethane from Natural Gas to Make Consumer and Industrial Plastics The cutback on flaring the Bakken’s natural gas took another positive step yesterday. A planned plastics manufacturing facility, announced at a press conference in Bismarck, will produce 1.5 million metric tons of polyethylene (3.3 billion pounds annually) from ethane produced in North Dakota. The plant will employ
Bakken/Three Forks Producer Exceeds Production Guidance for Q3 by 40% American Eagle Energy (ticker: AMZG) found a way to navigate around some backwash from last spring/early summer’s closed county roads in Divide County, North Dakota. At that time the company was forced to shut in producing wells because trucks weren’t allowed to collect crude on site due to county-wide road
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
