Consolidation continues in the Permian, with Callon Petroleum (ticker: CPE) purchasing $570 million in assets Thursday. Callon intends to acquire 28,657 net acres in the Delaware, primarily in Ward and Loving Counties, from Cimarex Energy (ticker: XEC). This acreage is partially contiguous with Callon’s assets in the Delaware, and is all at least nearby. Over 90% of the new acreage
Venado Oil and Gas, LLC and KKR will acquire the operated and non-operated Eagle Ford assets of Cabot Oil & Gas Corporation (ticker: COG) for a purchase price of $765 million. Venado and KKR acquired interests which include approximately 303 gross/203 net wells and 74,400 net acres situated primarily in the Eagle Ford oil window of South Texas (Atascosa, Frio
Halcón Resources Corporation (ticker: HK) averaged 6,283 BOEPD in Q4 2017, comprised of 70% oil, 15% NGLs and 15% natural gas. The company generated total revenues of $25.3 million for the fourth quarter of 2017, but reported a net loss attributed to common stockholders of $93.1 million, or a net loss per basic and diluted share of $(0.63). For 2017,
Cabot Oil & Gas Corporation (ticker: COG) produced 685.3 Bcfe in 2017. The production mix consisted of 655.6 Bcf of natural gas, 4,440.9 Mbbls of crude oil and condensate and 512.1 Mbbls of NGLs. Cabot incurred a total of $757.2 million of capital expenditures in 2017, including $637.2 million of drilling and facilities capital associated with drilling 91 gross (82.5
Energy XXI Gulf Coast, Inc. (ticker: EXXI) has approved a 2018 capital expenditure budget in the range of $145-$175 million, which includes funding of EGC’s most active drilling program since 2014, as well as recompletions, facilities improvements, plugging and abandonment (P&A) expenditures and other capital investments. CEO and President Douglas E. Brooks said, “We have contracted a rig that is
Valiant Midstream LLC has begun construction on a natural gas gathering system and cryogenic gas processing plant in the heart of the Arkoma Stack play in southeast Oklahoma. According to the company, the system is expected to come online in multiple phases, starting in the second quarter of 2018. The initial system infrastructure will span Hughes, Coal and Atoka counties
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