Devon’s early ’18 production from Delaware, STACK up 20% over 2017 average Devon Energy Corp. (ticker: DVN) accelerated production growth in early 2018. The company’s Delaware Basin and STACK assets are producing approximately 195,000 BOEPD. The combined daily production rates from these two assets represent a 10% increase over the fourth quarter of 2017, and a ~20% increase compared to
Concho Resources Inc. (ticker: CXO) produced 19 MMBOE in Q4 2017, an average of 211 MBOEPD. This is 28% more than Q4 2016 and 9% more than Q3 2017. Average daily crude oil production for fourth-quarter 2017 totaled 130 MBOPD, an increase of approximately 30% from fourth-quarter 2016 and 9% from third-quarter 2017. Natural gas production for fourth-quarter 2017 totaled
Energen Corporation (ticker: EGN) released financial and operating results for the fourth quarter and calendar year ended December 31, 2017. “Over the last five years, the board and management have strategically divested non-core assets and transformed Energen into a low-cost Permian pure-pay with a strong foundation for profitable growth,” said CEO James McManus. “We begin 2018 with a portfolio of
Fourth quarter 2017 net income of $174.7 million, or $1.83 per share, compared to fourth quarter 2016 net income of $47.8 million, or $0.50 per share For 2017, net income totaled $494.3 million, or $5.19 per share Cimarex Energy Co. (ticker: XEC) averaged 1,204 MMcfe/d in Q4 2017 – this equates to 201 MBOEPD, and is up 25% from a
Marathon Oil Corporation (ticker: MRO) will have a $2.3 billion capital budget for 2018. The company said the budget is self-funding at $50 average WTI and will generate free cash flow at $60 average WTI. More than 90% will be directed to four U.S. resource plays. Almost 60% of the development budget will be allocated to the Eagle Ford and
Laredo Petroleum, Inc. (ticker: LPI) has released its Q4 and full-year 2017 results. For the fourth quarter of 2017, the company reported net income attributable to common stockholders of $408.6 million, or $1.70 per diluted share – this included a $405.9 million gain on the sale of Laredo’s investment in the Medallion-Midland Basin pipeline system. Adjusted net income (non-GAAP), for
Occidental Petroleum Corporation (ticker: OXY) reported net income of $497 million, or $0.65 per diluted share, for the fourth quarter of 2017, compared with $190 million, or $0.25 per diluted share, for the third quarter of 2017. Core income for the fourth quarter of 2017 was $313 million, or $0.41 per diluted share, compared with $137 million, or $0.18 per diluted
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
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)
Jones Energy, Inc. (ticker: JONE) produced 21,207 BOEPD in Q4 2017, 6.5% above the company’s midpoint guidance. Oil volumes made up 29% of total production at 6,217 BOPD and NGL volumes represented 30% of Q4 production. For the full year of 2017, Jones produced 21,332 BOEPD. Average oil volumes of 5,378 BOPD comprised 25% of production and NGL volumes accounted
Hess Corporation (ticker: HES) reported a net loss of $2.677 billion, ($8.57) per share, in the fourth quarter of 2017. For reference, the company had a net loss of $4.892 billion in the fourth quarter of 2016. Fourth quarter 2017 results reflect net after-tax charges totaling $2.373 billion, including a non-cash accounting charge of $1.7 billion, the company said. This
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