Reuters DUBAI – Iran’s government presented a draft state budget of about $33.7 billion to parliament on Wednesday, promising less reliance on oil revenues and higher growth despite U.S. sanctions that have crippled the Islamic Republic’s economy, Iranian media reported. The value of the draft budget is set about 8,413 trillion rials, up 74% from last year’s figures in rial
Houston Chronicle Houston pipeline operator Enterprise Products Partners is looking at ways to trim its multibillion dollar capital expenditure budget cuts as the ongoing oil price war takes its toll on the company’s customers. In a Wednesday afternoon statement, Enterprise reported that the company is reviewing its 2020 capital expenditure budget due to the potential impacts of record low crude
100% year-over-year growth in Midland Basin production; realized price is SM’s highest level in 14 quarters: $37.76/BOE average Midland Basin operations up to nine rigs and five completions crews; SM expects to double completions in Q2 The Midland Basin produced strong results for Texas-focused SM Energy Company (ticker: SM) in the first quarter of 2018. In a brief update, the
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.
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
Midstates Petroleum Company, Inc. (ticker: MPO) reported a net loss of $85.1 million, or $(3.39) per share in 2017. In Q4 2017, the company reported a net loss of approximately $121 million, or $(4.78) per share. For 2017, the company averaged 18,181 BOEPD (28% oil, 24% NGLs, 48% natural gas) in the Mississippian Lime and 3,967 BOEPD in the Anadarko
Targeting 12-12.5 MBOEPD production for 2018 Earthstone Energy, Inc. (ticker: ESTE) posted a net income of $2.3 million, or $0.09 per share in Q4 2017. For 2017, the company reported a net loss of $12.5 million, or $(0.53) per share. In Q4 2017, the company produced on average 9,071 BOEPD. For the full year of 2017, the company had an
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
International producer Vermilion Energy Inc. (ticker: VET) increased production by 8% from Q3 2017, reaching an average of 72,821 BOEPD in Q4 2017. For Q4 2017, Vermilion Energy reported net earnings of $8.645 million, or $0.07 per share. This compares to a net loss of $4.032 million, or $(0.03) per share in Q4 2016. Vermilion’s 2017 annual production volumes increased
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 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
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
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