New Mexico is the nation’s third-largest oil producing state, thanks to the Delaware Basin: EIA From the Albuquerque Journal Battle Axe Road cuts smack through the heart of New Mexico’s side of the Delaware Basin, a previously marginal zone along the Texas border that is rapidly turning the state into a global player in the oil industry. Until recently, it
Lilis Energy, Inc. (ticker: LLEX) has closed a deal to acquire approximately 2,798 net acres in the southeastern New Mexico area of the Delaware Basin. The deal was part cash ($40 million) and part stock (~6.9 million shares, or ~$25.3 million), for an approximate total of $65.3 million. “This strategic transaction enhances our overall position in the Northern Delaware Basin,
Abraxas Petroleum Corporation (ticker: AXAS) reported a net loss of $4.1 million, or $(0.02) per share. For 2017, the company reported a net income of $16 million, or $0.10 per share. In Q4 2017, the company produced 808 MBOE, or 8,788 BOEPD. For 2017, the company produced 2.7 MMBOE, or 7,391 BOEPD. Operations Delaware Basin In Ward County, Texas, Abraxas
Callon Petroleum Company (ticker: CPE) reported results of operations for the three months and full-year ended December 31, 2017. Financial and operational highlights Full-year 2017 production of 22.9 MBOE/d (78% oil), an increase of 50% over 2016 volumes Fourth quarter 2017 production of 26.5 MBOE/d (79% oil), a sequential quarterly increase of 18% Year-end proved reserves of 137.0 MMBOE (78%
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
Anadarko Petroleum Corporation (ticker: APC) reported fourth quarter of 2017 net income attributable to common stockholders of $976 million, or $1.80 per share (diluted). Net cash provided by operating activities in the fourth quarter of 2017 was $1.4 billion. For the year ended December 31, 2017, Anadarko reported a net loss attributable to common stockholders of $456 million, or ($0.85)
Summit Midstream Partners, LP (ticker: SMLP) will be holding a non-binding open season for its Double E Pipeline. The target in-service date for the project is the first quarter of 2021. The project will consist of approximately 120 miles of 24″ to 36″ diameter pipe with a capacity of approximately 1.0 Bcf/d (without compression), expandable to approximately 1.4 Bcf/d (with
Lilis Energy (ticker: LLEX) is a pure play Permian operator with over 16,200 net acres in the Delaware Basin, and over 900 net identified future drilling locations. Lilis Energy is headquartered in San Antonio, Texas. In the first quarter of 2018 Lilis Energy plans to complete one well and commence drilling another well on its eastern acreage. The targeted formations
Lucid Energy Group and EnCap Flatrock Midstream have agreed to sell Lucid Energy Group II, LLC to funds owned by Riverstone Holdings LLC and the Goldman Sachs Group Inc. (ticker: GS) for approximately $1.6 billion. The participating investment funds managed by Goldman Sachs MBD are West Street Capital Partners VII, L.P., West Street Global Infrastructure Partners III, L.P., and West Street Energy Partners, L.P.
Delaware acquisition complete, doubles Rosehill Resources’ Delaware acreage Rosehill Resources Inc. (ticker: ROSE) has completed its previously announced acquisition of 4,565 net acres and certain producing oil and gas properties in the Southern Delaware basin for $78 million. This transaction nearly doubles the company’s total net acreage to 9,200 net acres, with the potential for additional acreage acquisitions through March
PDC Energy, Inc. (ticker: PDCE) announced today its 2018 capital investment budget and production forecast. 2018 budget highlights: Year-over-year production growth of approximately 25 percent to an estimated 38 to 42 million barrels of oil equivalent (MMBoe) Oil production to account for approximately 42 percent of total production, representing a year-over-year oil volume increase of approximately 30 percent Year-over-year Delaware
Permian oil producers continue to tout enviable half-cycle metrics, but what does the complete picture show? The mad dash of capital into the Permian’s Delaware sub-basin over the last two years has been awe-inspiring considering the backdrop of oil prices careening down to half their 2014 highs, with $45-$52 oil turning into a new normal. Oil and gas companies throughout
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.
