2016 Program Fully Funded A combination of wells waiting completion and longer laterals have Synergy Resources (ticker: SYRG) projecting to exit Q4’15 (ending August 31) with volumes of 12,000 to 13,000 BOEPD. The company announced its Q3’15 volumes (three months ended May 31) averaged 8,026 BOEPD, representing a year-over-year increase of 95%. In its Q3’15 results announced on July 9,
At $60 oil, our wells are very economic: an exclusive OAG360 interview with Great Western Oil & Gas CEO Rich Frommer As summer heats up, the days are winding down on the second quarter of 2015, marking the second full reporting period of oil and gas prices staying near or below the $60/barrel and $3/Mcf range. While the new commodity
JRCO: “One of the Best Multiple/Growth Propositions in Energy” Roughly one month after its 2015 Analyst Day, PDC Energy (ticker: PDCE) released its first quarter results for the fiscal year in a press release on May 7, 2015. The Denver-based E&P reported net income of $17.1 million, or $0.46 per share, compared to a net loss of ($2.1 million) in
Wattenberg-Focused E&P Lays Out Plans for 2015 PDC Energy’s (ticker: PDCE) favorite adjective in its 2015 Analyst Day was “resiliency,” as the company applied the term to its balance sheet, operations and its employees throughout the meeting on April 9, 2015. The event, held in New York City, was almost two thousand miles away from its core operations and headquarters
Synergy Resources (ticker: SYRG), a small-cap exploration and production company based in Colorado, posted net income of $4.7 million ($0.05/share) in its Q2’15 results for the period ended February 28, 2015. Production averaged 7,745 BOEPD for the quarter – a 98% jump compared to volumes from Q2’14. Total revenues of $23.7 million were an increase of 3% compared to the
What to Expect Before You Begin Drilling 500 Feet from a Group of Million Dollar Homes Colorado’s Oil & Gas Task Force Offers Oil & Gas Operators, Local Homeowners Some Preliminary Solutions Drilling the Niobrara was a check-the-box kind of routine for most of the oil companies operating in northern Colorado for the past 50 years. Secure the leases, file the forms, get your
On December 8, 2014, PDC Energy (ticker: PDCE) announced its 2015 capital budget after a profitable Q3’14. For 2015, PDC’s capital budget is approximately $557 million, a decrease of 14% compared to its 2014 expenditures. The company’s budget includes $526 million of development capital and $31 million for lease maintenance, exploration and other expenditures. The company estimates net production volumes
Company will Operate in Only 2 Basins: DJ and Uinta; Deal Eliminates 57% of BBG’s Net Debt Bill Barrett Corporation (ticker: BBG), an exploration and production company focused on the Rocky Mountain region, has shifted its asset position in a deal totaling $757 million. On September 16, 2014, the company announced the sale of the majority of its acreage in
Energy Companies Discussed their Colorado Operations at EnerCom’s The Oil & Gas Conference 19® Weld County, Colorado, is home to the Wattenberg Field, where horizontal drilling and hydraulic fracturing and complex well completion techniques are creating Colorado’s shale boom. Operators are going after oil and gas trapped in layers of shale about 7,000 feet beneath Weld County’s rich farmland and
This week PDC Energy (ticker: PDCE) announced the sale of its Marcellus shale assets for approximately $250 million to its Marcellus partner Mountaineer Keystone Energy, LLC. With the divesture of its approximate 131,000 net Marcellus acres, PDC’s focus now moves sharply onto two liquid rich plays—97,000 net acres in the Wattenberg Field in Colorado and 67,000 net acres in the
Note: this is Part Two of a two-part series looking at the rapid pace of oil and gas development in Weld County in 2014. Click here to read Part One: Will Voters Kill Colorado’s Golden Goose? 2013 was a record year for oil production in Colorado: 64 million barrels were produced in the state. Weld County extracted 52 million of those
August 4 is the deadline for two citizens’ groups that are attempting to collect the signatures required to land two statewide ballot proposals on the November ballot. If successful, they would give voters the power to inhibit Colorado’s future oil and gas development. By Bevo Beaven, Editor, Oil & Gas 360 NOTE: This is the first of a two-part series
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