Oil & Gas 360® takes a look at three companies with operations in the Permian: Halcón Resources Company (ticker: HK) Approach Resources Company (ticker: AREX) Apache Corporation (ticker: APA) Halcón Resources Production for the first quarter of 2018 averaged 10,967 BOEPD for Halcón, comprised of 70% oil. This production rate represents a 75% growth rate from the fourth quarter of
Apache Corporation (ticker: APA) said that the EVP of corporate reservoir engineering, Kregg Olson, plans to retire on August 1, 2018. Apache CEO and President John J. Christmann IV said, “Kregg’s expertise and leadership have been a tremendous asset to Apache during his 26 years with the company. On behalf of the board and all Apache employees, I want to
Venado Oil and Gas, LLC and KKR will acquire the operated and non-operated Eagle Ford assets of Cabot Oil & Gas Corporation (ticker: COG) for a purchase price of $765 million. Venado and KKR acquired interests which include approximately 303 gross/203 net wells and 74,400 net acres situated primarily in the Eagle Ford oil window of South Texas (Atascosa, Frio
Apache Corporation (ticker: APA) has named David Pursell as SVP of planning and energy fundamentals, effective March 12, 2018. “I am pleased to welcome Dave to Apache’s executive management team. Dave’s skills, expertise and capabilities will further enhance our robust internal planning processes and assist in the execution of our long-term profitable growth strategy,” said John J. Christmann IV, Apache’s
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,
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
Eclipse Resources Corporation (ticker: ECR) had a net income for 2017 of $8.5 million, or $0.03 per share. For reference, the company had a net loss of $206.7 million, or $(0.86) per share for 2016. The fourth quarter of 2017 showed a net loss of $13.1 million, or $(0.05) per share. In Q4 2016 the company had a net loss
Tax-free separation creates two Appalachian-based energy companies EQT Corporation (ticker: EQT) has approved a plan to separate its upstream and midstream businesses, creating a standalone publicly traded corporation (NewCo) that will focus on midstream operations. The separation is intended to qualify as tax-free to EQT shareholders for U.S. federal income tax purposes, and is expected to be completed by the
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
Laredo Petroleum, Inc. (ticker: LPI) announced this week that Patrick J. Curth, senior VP of exploration and land, will transition to a senior advisor role in anticipation of his retirement in March 2019. VP of Exploration and Geosciences Technology James R. Courtier, VP of Reservoir Engineering Jason R. Greenwald and VP of Land Mark H. Elliott will jointly assume leadership
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