High per-acre costs make turning a profit in the Delaware more difficult Capital has rushed into the Permian as oil prices stabilize and operators look for the best acreage possible. The majority of that capital has been focused in the Delaware Basin where layers of stacked pay have made acreage extremely attractive, and the cost per acre significantly higher than
EarthStone Energy plans to grow production 200% to 400% on acquired Midland assets in 2017 With 2016 in the books and many companies reporting their year-end numbers, markets are beginning to look forward to the year ahead. A stable oil price and greatly improved drilling efficiencies have led many to have a more optimistic attitude about 2017, particularly about companies
SM Energy announces the results of 8 Midland wells on its recently acquired acreage SM Energy (ticker: SM) released initial production results from eight wells drilled on acreage the company acquired from Rock Oil and QStar, saying that the IP rates on the wells exceed pre-completion estimates. SM’s Tackleberry 43-42 A 1WA well performed especially well, the company said in
SM Energy announces sale of non-operated Eagle Ford assets for $800 million Denver-based SM Energy (ticker: SM) announced Tuesday that the company has divested its non-operated Eagle Ford assets for $800 million. SM has entered into a definitive agreement with a subsidiary of Venado Oil and Gas, LLC, an affiliate of KKR (ticker: KKR) for the sale of SM’s third
SM Energy closes $765.8 million Williston Basin divestiture SM Energy (ticker: SM) announced Thursday after market close that the company has completed its previously announced divestiture of its Williston Basin assets located outside of Divide County, North Dakota to Oasis Petroleum (ticker: OAS). Net cash proceeds from the deal amount to $765.8 million, according to the company’s press release. Third
Approach Q3: Sets record low quarterly LOE at $3.49 per Boe On Nov. 2, Permian operator Approach Resources (ticker: AREX) published several announcements including its Q3 2016 results and a privately-negotiated exchange of $130 million of 7.00% senior notes due 2021, followed by an exchange offer for the remaining $100 Million of 7.00% senior notes due 2021. 3Q Highlights Production was 12.1 MBOEPD, exceeding
On day three of EnerCom’s The Oil & Gas Conference® 21, a panel of experts talked about the Permian basin and the rapid growth in activity it has seen in the past three years. Panelists were Jeb Bachmann of Scotia Howard Weil, Will Green of Stephens Inc. and Bill Davis of Vaquero Midstream. Scott Rees, Chairman of Netherland Sewell, started things off
Earthstone presents at EnerCom’s The Oil & Gas Conference® During Earthstone’s breakout session, management was asked the following questions: Could you talk about your cash flow through the end of the year in light of the capital for the year and the capital raise? In the past you have raised some liquidity through non-core asset sales. Where do you stand
Approach Resources Inc. presents at EnerCom’s The Oil & Gas Conference® During Approach Resources’ breakout session, management was asked the following questions: What types of completions are you doing to drive down costs? What type of sand loadings are you using for your proppant? Can you share some more on acreage pricing? What do you think about amount of proppant
New Lobo II expansion of EnLink’s existing Lobo System in the Delaware basin is anchored by long-term commitments from major producers; expects to be operational by year-end 2016 Subsidiaries of EnLink Midstream (ticker: ENLK) and private equity fund NGP Natural Resources XI, L.P. have formed a strategic joint venture to operate and expand EnLink’s natural gas, natural gas liquids, and
New Val Verde basin assessment adds gas to Texas’s overall resources Texas added 5 trillion cubic feet of natural gas to its reserves courtesy of a new report from the U.S. Geological Survey. The U.S.G.S. said that its geology-based assessment methodology pegs the resources in place in the Val Verde Basin at 5 Tcf of tight gas and 187 MMBO of
Pioneer Natural Resources Acquires Midland Basin Acreage with $827 Million Secondary Offering Devon Energy Corp. has been piling up the assets sales so far in 2016, announcing on June 15, 2016, the most recent divestiture of assets in the Midland Basin for a cumulative $858 million. This is comprised of two separate transactions, both in the Midland Basin. In the
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