By Richard Rostad, analyst, Oil & Gas 360 Colorado’s recent SB 181 overhauled the state’s permitting and regulatory process for oil and gas development. Since the bill was passed and signed into law, oil and gas investors naturally have been searching for more details and direct information on the effects of the bill, and it has been a key theme
Extraction Oil & Gas, Inc. Announces Extension and Increase in its Stock Repurchase Program
From the Associated Press DENVER (AP) — A fiercely contested oil and gas project in a residential neighborhood outside Denver cleared a major hurdle Tuesday when state regulators approved a request by an energy company to drill for reserves that belong to dozens of people, including some who don’t want to participate. The Colorado Oil and Gas Conservation Commission voted
Stock up 19% on earnings By Richard Rostad, analyst, Oil & Gas 360 Extraction Oil & Gas (ticker: XOG) announced fourth quarter results and reserves today, showing net income earnings of $99.9 million, or $0.52 per share. Extraction earned $114.6 million over the full year, $0.56 per share. Both of these results vastly exceed the previous year’s results, as Extraction
Paying for economic damage: proposed Amendment 74 ensures that state and local governments that cause reduction in private property value must pay for what they take Colorado’s Proposition 112—the proposed mandatory 2,500-foot setback for new oil and gas development—has been getting the bulk of the attention in the energy industry. But there is another ballot proposal that would affect mineral
After two years of public comment and revisions, Extraction will be allowed to drill in Broomfield–but will Colo. voters stop it in November with positive setback vote on 97? Extraction Oil & Gas (ticker: XOG) got the news this week that its Comprehensive Drilling Plan (CDP), dated July 27, 2018, was conditionally approved by the City and County of Broomfield,
Extraction Oil & Gas, Inc. (ticker: XOG) reported a net loss of $52 million for Q1 2018, or $(0.32) per share. First quarter average net sales volumes were 68,874 BOEPD, including 36,052 BPD of crude oil, an increase of 106% year-over-year and 4% sequentially. During the quarter, Extraction reached total depth on 41 gross (27 net) wells with an average
2018 capital program, production and operating expense guidance The company expects its full-year 2018 average net sales volumes to be 87-93 MBOEPD, with 42.5-45.5 MBbl/d of crude oil, which at the midpoint represents 76% total equivalent growth and 83% crude oil growth over the midpoint of the 2017 guidance ranges provided in December 2016 Drilling and completion capital expenditures for
Colorado county adjacent to Weld is fighting to stop oil and gas development on its side of the line In the Wattenberg field, Boulder County has filed motions to dismiss 8 North LLC’s applications for additional density, arguing that the COGCC cannot grant them when the drilling and spacing units have not yet been established and the authorized well for
Extraction went far beyond what state law requires to gain local approval of a well development plan within Broomfield city and county limits Wattenberg-DJ operator Extraction Oil & Gas, Inc. (NASDAQ:XOG) has received approval for its Operator Agreement with the City and County of Broomfield, Colorado, the company announced today. The Broomfield City Council approved the company’s development plan after a year-long
This week, the Boulder County Commissioners told its residents that 8 North LLC, a subsidiary of Extraction Oil and Gas, LLC had applied with the State of Colorado for permits to drill a 1,280-acre area at the far eastern edge of Boulder County, right up to the line on the map that separates long time oil-friendly Weld County and the
Extraction Oil & Gas’s proposed drilling program spurred citizen action and reaction by Broomfield council On Jan. 10, 2017, the City and County of Broomfield, Colorado, held a public hearing on its proposed ordinance No. 2038 which calls for imposing a temporary moratorium on oil and gas drilling, hydraulic fracturing, and the processing of certain oil and gas related applications.
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