Antero spent $1.28 billion on drilling and completions in 2017, producing an average of 2,253 MMcfe/d Full-year and Q4 2017 spending Antero Resources (ticker: AR) spent $1.282 billion on drilling and completions in 2017. The company invested $204 million for land, excluding $176 million for proved property acquisitions, $346 million for gathering and compression systems and $195 million for water
Diamondback Energy, Inc. (ticker: FANG) pulled in a net income of $115 million in the fourth quarter of 2017, or $1.16 per diluted share. Diamondback spent $246 million on drilling, completions, non-operated properties and $61 million on infrastructure in the fourth quarter of 2017. For the full year 2017, Diamondback spent $737 million on drilling, completions, non-operated properties and $124
Blackbird Energy Inc. (ticker: BBI) has released test results from its 2-20-70-6W6 Middle Montney delineation well, which is located on the company’s eastern multi-interval delineation block. The well is more than five kilometers east of Blackbird’s previous operated development drilling. The 2-20-70-6W6 Middle Montney Delineation well produced at a short-term rate of 1,163 BOEPD, including 824 Bbls/d of condensate, Blackbird
Denbury Resources Inc. (ticker: DNR) released its preliminary year-end 2017 proved reserves, production and capital expenditures, along with its 2018 capital budget and estimated annual production. Preliminary Q4 2017/annual production Denbury’s production averaged 61,144 BOEPD (97% oil) during the fourth quarter of 2017, with CO2 tertiary properties accounting for 65% of overall production. Denbury’s continuing production for full-year 2017 averaged
U.S. proved reserves of natural gas increased 5% in 2016, compared with a 17% decline in 2015 The United States had 341.1 trillion cubic feet (Tcf) of natural gas proved reserves as of December 31, 2016, according to U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2016, released by the EIA. U.S. crude oil and lease condensate proved reserves
The United States will become a net energy exporter in 2022, according to the newly released Annual Energy Outlook 2018 (AEO2018) Reference case from the EIA. The cause? EIA says changes in the petroleum and natural gas market are driving potential exports upward. The transition from net energy importer to net energy exporter occurs even earlier in some sensitivity cases
Advantage Oil & Gas Ltd. (ticker: AAV) released Q4 2017 and year-end 2017 results today. The company added reserves, increased annual production by 16% and spent $249 million in 2017. Growing reserves PDP reserves increased 27% due to the recognition of 27 new Glacier wells that were brought on production through 2017 and higher reserves assignments on historical producing wells
ARM Energy Holdings LLC said that the company and its partners have sold Kingfisher Midstream, LLC to Silver Run Acquisition Corporation II, in exchange for an aggregate consideration of up to $1.55 billion. The transaction consideration is comprised of $800 million in cash, ~$550 million in Silver Run II stock and up to ~$200 million in additional Silver Run II
Capitalize, PLS Inc.’s proprietary comprehensive capital markets tracking platform, released a statistical review of the oil and gas industry’s capital markets activity for calendar year 2017. Key findings: $34 billion in equity raised through offerings in 2017, down 36% from 2016’s $53 billion Of 2017’s eight upstream equity offerings, six were SPACs Big names such as Hess, Antero and BP
Exxon Mobil Corporation (ticker: XOM) added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of 2017 production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57% of the reserves, up from 53% in 2016. According to the company, ExxonMobil’s reserves life at current production rates is 14 years. During
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)
Double Eagle Energy Holdings III announced that inclusive of a recent capital raise, the company has secured equity commitments of more than $1 billion. The equity commitments are anchored through funds managed by affiliates of Apollo Global Management, LLC (ticker: APO). Double Eagle’s equity commitments will support the company’s ongoing acquisition and development initiatives in the Permian Basin and will
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