Panhandle Oil and Gas Inc. (ticker: PHX) is headquartered in Oklahoma City, Oklahoma. Panhandle has approximately 255,000 net acres of perpetually owned mineral rights spread across Arkansas, Oklahoma and Texas. Panhandle leases its properties to oil and gas operators and does not have the burden of paying to operate productive leases, but instead acts as a royalty interest holder. As
Laredo Petroleum, Inc. (ticker: LPI) released several new reports today, including estimated annual production, year-end reserve estimates and the company’s projected 2018 CapEx. Year-end 2017 reserves and operating results highlights 17% increase in production in 2017 to a company record of 21.3 million barrels of oil equivalent (MMBOE) 36% organic growth in proved developed reserves, an increase of 50 MMBOE
Goodrich Petroleum Corporation (ticker: GDP) is an independent E&P headquartered in Houston, Texas with operations in Texas, Louisiana and Mississippi. The company’s preliminary capital expenditure budget for 2018 stands at $65 to $75 million and will be directed towards the company’s core acreage in the Haynesville shale. Goodrich Petroleum plans to drill 16 gross horizontal wells in 2018, with an
EnerCom Dallas presenting company PetroQuest Energy (ticker: PQ) was founded in 1985 as a Gulf Coast oil and gas company. From 1985 to 2002 PetroQuest grew its reserves located principally onshore in Louisiana and offshore in the Gulf of Mexico. The company is headquartered in Lafayette, Louisiana. Central Louisiana Austin Chalk acquisition The company recently entered the Central Louisiana Austin
Quantum Energy Partners and Stonecourt Capital LP have announced the formation of PetroLogistics II LLC, with founders David Lumpkins and Nathan Ticatch. PetroLogistics II, headquartered in Houston, Texas, plans to continue the strategy of its predecessor, PetroLogistics Company LLC. The newly formed company will acquire, develop and operate petrochemical manufacturing, processing and logistics assets in North America. Quantum, Stonecourt and
GeoPark Limited (ticker: GPRK) is a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Brazil, Argentina, Chile and Peru. The company has 29 blocks in nine basins across five countries – approximately 6 million acres. GeoPark’s 3P reserve estimates project that 235 MMboe can be developed. In 2017 the company
Tiger #1H reached 1,803 BOEPD, 72% liquids on 4,108 foot lateral Lilis Energy, Inc. (ticker: LLEX) said that its Tiger #1H well has reached a 24-hour initial production rate of 1,803 BOEPD on a three-stream basis, at 439 BOEPD per 1,000 ft. or 242 BOPD per 1,000 ft. of lateral. The well is currently producing at 72% liquids on a
Enterprise Products Partners L.P. (ticker: EPD) announced that the partnership plans to add 300 MMcf/d of incremental capacity to its cryogenic natural gas processing facility under construction near Orla, Texas in Reeves County. The addition of a third processing train at Orla would increase inlet volume capacity to 900 MMcf/d and allow Enterprise to expand its NGL extraction capabilities by
Penn Virginia (ticker: PVAC) kicked off a new year of oil & gas A&D transactions today, buying acreage in the Eagle Ford. Penn Virginia will acquire assets in Gonzales and Lavaca counties from Hunt Oil Company for $86 million in cash. The acquisition will close on or before March 1, 2018 with an effective date of October 1, 2017. Acquisition
Permian production will push U.S. to new record liquids production by end of 2018 – IHS Markit IHS Markit released a new report today. IHS Markit said that the Permian Basin reached a new 2017 oil-production record of 815 million barrels – this does not include the remaining days left in 2017. The old 1973 record held at 790 million
From Reuters/Longview News-Journal Texas oil companies have hired about 30,000 workers in the past year, a sharp turnaround after laying off a third of the industry’s statewide workforce during the oil bust that began in late 2014. The number of Texas oil and gas workers reached more than 222,000 in September, up 16 percent from about 192,000 a year earlier,
From MexicoNOW For the first time ever, Texas authorities have issued a drilling permit to a Mexican company for gas and oil extraction in the state. The Texas Railroad Commission, the agency that regulates the energy industry in the state, authorized Petrobal Omega 1 LLC to drill a 5,000-foot (2,524-meter) deep vertical well in the Barnett Shale basin located in
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