Well Cost | Rig Count | Top Story | Forecast - Production | Capital Markets | Capital Expenditure | Drilled Uncomplete (DUC) | Drilling Program - Wells | Capital Expenditure - 2017 | Drilling Contractor
Bakken, MidCon E&P Boosts Budget 77% for 2017; $1.95B, 20 Rigs
Print
|
Continental announced a 2017 capital expenditures budget of $1.95 billion.
Key Points: 2017 Capex of $1.95 billion (up +77% from $1.1 billion in 2016) More than 80% of the drilling and completion budget is focused on completing the Company's deep inventory of uncompleted wells in North Dakota, additional drilling in the Bakken, and further STACK development (Over $1.56 billion) Continental plans to operate an average 20 drilling rigs in 2017, an increase of one rig from 2016 (Four in the Bakken / 11 STACK / Five SCOOP) 2017 exit rate of 250,000 to 260,000 BOEPD. (59% oil, compared with approximately 55% in the fourth quarter 2016). Well Plans:Expects to complete a total of 280 gross (178 net) operated wells with first production in 2017. The Company also plans to participate in…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
More Capital Expenditure - 2017 News
Legacy Reserves Spends 1250% More YOY; Expects Oil Output to Grow 46.6% in 2018
Legacy Reserves reported its Q3 results and discussed its preliminary 2018 production and capital plans. Highlights include: Reported average daily production of 45,891 boe/d, an increase of about…
Gear Spends $10.5MM in Q3, Up 49.5% YoY
Gear Energy reported its Q3 results. Highlights include: Capital expenditures were $10.5 million in Q3, an increase of 49.5% from capital expenditures of $7.03 million in Q3 2016…
Cenovous Chops $100MM from 2017 Capex After Q3 Loss
Cenovus reported its Q3 2017 results. Highlights: Increased third quarter cash from operating activities and adjusted funds flow by 91% and 133% respectively, compared with the same period…
Kelt Expects 86.2% CapEx Growth from 2017 to 2018
[Summar: Kelt Exploration reported its Q3 results where it also discussed preliminary plans for 2018. Highlights include: Production for Q3 was 22,510 boe/d and expects to exit 2017…
Murphy Increases 2017 Capex by $50MM; Brought Online 27 Eagle Ford Wells
[Summary: Murphy Oil released its Q3 results and highlights include: North American on shore production was 86 mboe/d Increased its FY 2017 capex guidance $50 million to $940…
Mid-Continent - Anadarko Basin News
Bakken Midstream Project shelved; as future growth projects thin
Hess Midstream highlighted continued throughput growth across its Williston Basin (Bakken/Three Forks) systems, signaling higher utilization in gas gathering and processing. For producers, the only forward-looking capacity signal…
Comstock to Acquire Assets from Ovation Energy For $62.5 Million
Comstock Resources agreed to acquire substantially all of the assets of Ovation Energy, L.P. for $62.5 million, expanding its producing footprint across multiple U.S. natural gas basins. The…
Empire Petroleum First Quarter 2023 Results
Empire Petroleum announced first quarter 2023 results. Highlights Increased year-over-year per day sales volumes by 4% to 2,206 barrels of oil equivalent per day ("Boe/d") (61% oil, 19%…
Devon Energy Corp. First Quarter 2023 Results
Devon Energy Corp., announced first quarter 2023 results. Highlights Oil production reached an all-time high of 320,000 barrels per day in the first quarter Capital activity headlined by…
SandRidge Energy, Inc., First Quarter 2023 Results
SandRidge Energy, Inc., announced first quarter 2023 results. Highlights First quarter net income was $23.8 million, or $0.64 per basic share. Adjusted net income(1) was $25.7 million, or…
Williston Basin News
PHX Minerals Inc., First Quarter 2023 Results
PHX Minerals Inc., announced first quarter 2023 results. Highlights Net income was $9.6 million, or $0.27 per share, compared to net income of $3.3 million, or $0.09 per…
Vitesse Energy, Inc. First Quarter 2023 Results
Vitesse Energy, Inc. announced first quarter 2023 results. Highlights Completed spin-off from Jefferies Financial Group Inc. (the "Spin-Off") and closed the acquisition of Vitesse Oil, LLC on January…
Coterra Energy Inc., First Quarter 2023 Results
Coterra Energy Inc., announced first quarter 2023 results. Highlights Net Income (GAAP) totaled $677 million, or $0.88 per share. Adjusted Net Income (non-GAAP) was $661 million, or $0.87…
Marathon Oil Corporation First Quarter 2023 Results
Marathon Oil Corporation First Quarter 2023 Results Highlights Continued delivery against differentiated Return of Capital Framework, exceeding commitment to return at least 40% of adjusted CFO to shareholders…
Exxon Mobil First Quarter 2023 Results
Exxon Mobil Corp. announced its first quarter 2023 results. Highlights: Delivered record first quarter earnings of $11.4 billion, demonstrating structural earnings improvements through growth of advantaged assets, mix…