Lonestar Resources US Inc. (NASDAQ: LONE) (together with its subsidiaries, “Lonestar,” “our” or the “Company”) announced that its proved reserves increased to a record 100.6 million barrels of oil equivalent (“MMBOE”) at December 31, 2019 calculated using SEC guidelines. All of the Company’s proved reserves are located in the Eagle Ford Shale.
Chron A storied oil company that got its start in East Texas is seeking its latest fortune in the Permian Basin of West Texas. Founded in in 1934, Hunt Oil Co. drilled its first oil wells in the Piney Woods of East Texas, and over the decades it developed projects around the globe. Closer to home, the independent and privately
From The Houston Chronicle A natural gas well belonging to the Norwegian oil giant Equinor remains shut in following a weekend fire at one of its drilling sites in Karnes County. The fire happened at Equinor’s Neller-Runge 1-Runge 2 lease off FM 885 a few miles south of Runge around 3:45 a.m. Saturday, the Karnes County Sheriff’s Office reported. Crews
On November 7, 2017 Carrizo Oil and Gas, Inc. (ticker: CRZO) announced the company’s financial results for Q3 and provided an update on current operations. Carrizo reported third quarter of 2017 net income attributable to common shareholders of $5.6 million, or $0.07 per basic and diluted share, compared to a net loss attributable to common shareholders of $101.2 million, or $1.72 per basic and diluted share
No oil and gas companies were in attendance for Major League Baseball’s winter meetings (baseball’s equivalent of Christmas with its free agent signings, discussions, swaps and trades), but two industry giants independently agreed to a swap of their own on December 11, 2015. Norway’s Statoil (ticker: STO) and Spain’s Repsol (ticker: REPYY) will trade acreage positions in a non-cash, straightforward
Company Production Record in October Lonestar Resources (ticker: LNREF) announced a company production record in its Q3’15 results, and the upward volume trend is expected to continue through the end of the year. Lonestar averaged production of 6,614 BOEPD in Q3’15, representing a 14% increase sequentially, with volumes exceeding 7,500 BOEPD in the month of October alone. The October achievement
CEO Bracken: “The Time has Come” for Acquisition Opportunities Lonestar Resources (ticker: LNREF), a Fort Worth-based exploration and production company with operations focused on the Bakken and Eagle Ford shales, expects to set company production records in Q3’15 based on wells that continue to exceed third party estimates. Q3’15 volumes are forecasted to average 6,500 BOEPD, marking respective increases of 12%
Sanchez Production Partners (ticker: SPP), a midstream-focused Master Limited Partnership, increased its footprint in the Eagle Ford with a $345 million cash acquisition announced on September 28, 2015. The assets, purchased from Sanchez Energy Corporation (ticker: SN) consist of 150 miles of gathering lines and associated infrastructure in four gathering and processing facilities. The transaction is expected to close in
Well Efficiencies, Cost Improvements Lead to Adjustments Sanchez Energy (ticker: SN) raised its guidance for the second time in less than a month in its Q2’15 earnings release, issued on August 10, 2015. Revised 2015 volumes estimate production at 46 to 50 MBOEPD (69% liquids), up from the previous estimate of 44 to 48 MBOEPD announced in an operations update
Acreage Value Increase of 441% Since Initial Purchase in 2010 Goodrich Petroleum (ticker: GDP) sold its proved reserves and approximately 13,000 net acres in the Eagle Ford Shale for $118 million to an undisclosed buyer, the company said in a July 27 news release. The assets are located in LaSalle and Frio Counties of Texas and include Q1’15 production of
Quarter-over-quarter daily production increases by 19%, current volumes highest in company history Increased efficiency, shorter drilling days and wells exceeding type curves prompted Sanchez Energy (ticker: SN) to upwardly revise guidance for the second straight quarter, the company said in an operations update on July 15, 2015. Current volumes are the highest in company history. The producer, operating almost exclusively
Penn Virginia Corp. (ticker: PVA) has spent the last few years building up its position in the Eagle Ford Shale of South Texas, and production increases combined with decreasing completion costs were the highlights of the company’s Q1’15 earnings release. The quarterly update, issued on May 11, 2015, reported average volumes of 24,721 BOEPD, with the Eagle Ford (EF) accounting
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