Bakken production in North Dakota sets records From KTVQ-Q2 BISMARCK, N.D.- September was a record-setting month in the Bakken oil fields of North Dakota. In the monthly report from North Dakota’s Mineral Resources Department, new all-time records were set in September in both oil and gas production and in the number of producing wells. The September oil production set a new North
Denver-based QEP Resources Inc. (stock ticker: QEP) reported its Q3 Results Wednesday. Pure-play is right move for QEP’s size QEP is well on the course to being a pure-play Permian company, with the sale of its Bakken assets announced earlier this week. QEP Chairman, President and CEO Charles Stanley outlined some of the advantages to being a pure-play producer in
Permian and Anadarko Basins are competition for capital and workforce The North Dakota Industrial Commission’s Department of Mineral Resources has released its production report for the month of May and the NDIC reports new all-time highs. Oil production: 1,244,629 barrels/day (New all-time high) Gas production: 2,318,754 MCF/day (New all-time high) Producing Wells: 14,755 (New all-time high) North Dakota rig count
Newfield’s SCOOP/STACK operations pinned to future growth; Williston Basin infill projects look to deliver $100 million of free cash flow in 2018 Newfield Exploration Company (ticker: NFX) had record net production during Q1 2018, with SCOOP/STACK net production averaging 117,500 BOEPD. Newfield Chairman, President and CEO Lee Boothby said, “The Anadarko Basin is the asset that will fuel our growth
Bakken production up 11% over Q1 2017 Hess Corporation (ticker: HES) reported a net loss of $106 million, or $(0.38) per common share in Q1 2018. This compares to a net loss of $324 million, or $(1.07) per share in Q1 2017. Oil and gas production went above the company’s guidance estimates. Net production averaged 233 MBOEPD (excluding Libya) and
Bakken-focused PetroShale Inc. (ticker: PSH) released financial and operating results for the year-ended December 31, 2017. Production averaged 2,121 BOEPD in the fourth quarter and 2017 production averaged 2,445 BOEPD, an increase of 50% over 2016. Financially, PetroShale reported 2017 revenues of $44.0 million (an increase of 89% over 2016) and 2017 EBITDA of $21.2 million (an increase of 123%
North Dakota’s State Industrial Commission has released new production numbers for 2018, covering the months of January and February. In January the state produced 36.6 MMbbls of oil, or 1.2 MMBOPD, and 64,226,435 Mcf, or 2,071,820 Mcf/day. February was another good month of production for the state, reaching an all-time high for natural gas production. The commission reported natural gas
Hess Corporation (ticker: HES) reported a net loss of $2.677 billion, ($8.57) per share, in the fourth quarter of 2017. For reference, the company had a net loss of $4.892 billion in the fourth quarter of 2016. Fourth quarter 2017 results reflect net after-tax charges totaling $2.373 billion, including a non-cash accounting charge of $1.7 billion, the company said. This
Ridge Runner Resources, LLC is a new E&P focused on the Delaware Basin The new company has received a line of equity financing of up to $300 million from funds affiliated with Warburg Pincus. The company will be led by CEO Scott Germann, an Exxon-trained geologist with more than 20 years of financial and operational experience in the Permian Basin.
North Dakota production set new records in 2017 even though the rig count has gone down. At least 1.18 million BOPD was produced in October and November. North Dakota gas production hit new highs in November as well – over two million Mcf/day. Keep the oil barrels rolling Oil production in October reached 36,698,095 barrels in total, or 1,183,810 BOPD
Earthstone Energy, Inc. (ticker: ESTE) will present at the EnerCom Dallas investment conference Feb. 21-22, 2018 at the Tower Club in downtown Dallas. Earthstone Energy is an independent company that develops and operates oil and gas properties primarily in the Midland Basin of West Texas, the Eagle Ford trend of south Texas and the Williston Basin of North Dakota. The
PetroShale Inc. (ticker: PSH) has commenced drilling two (1.7 net) wells on its operated Primus unit in Antelope during the third quarter of 2017. PetroShale operates primarily in the Bakken/Three Forks play in North Dakota. As of September 2017, the company has 57-78 future net drilling locations (depending on the spacing) and approximately 4,946 net acres. The company also commenced
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