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More Drilling & Completions News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
Range Resources Talks 1Q Results; 2024 Wells Plan Unchanged
Range Resources reported its first quarter results. As you can see from the chart below, the company has 76% of its budget remaining and 82% or 40 wells…
Large Permian E&P Cuts Capex;Outlines New D&C Plans, 2024
Ovintiv provided an updated guidance for the remainder of the 2023 development cycle. 2023 Guidance The Company issued its third quarter 2023 guidance and revised its full year…
Petrus Resources Ltd. First Quarter 2023 Results
Petrus Resources Ltd. announced first quarter 2023 results. Highlights Higher production – Production was up 54% from 7,379 boe/d(1) in the first quarter of 2022 to 11,385 boe/d…
Cardinal Energy Ltd. First Quarter 2023 Results
Cardinal Energy Ltd. announced first quarter 2023 results. Highlights Production increased 5% over the same period in 2022 due to ongoing strong base performance and excellent 2022 drilling…
Permian - Delaware Basin News
Permian E&P Bucking The Trend; Plan to Increasing Drilling & Fracs in 2026
Occidental’s 2025 U.S. onshore program is centered on the Permian, with ~$3.5B of Permian CapEx and ~$0.8B in the Rockies, totaling ~$4.3B. This supports ~15 net rigs in…
Japex Enters DJ Basin with Acquistion of Verdad
Japan Petroleum Exploration Co., Ltd. (JAPEX) has announced a major expansion into North American shale with a $1.3 billion acquisition of Verdad Resources Intermediate Holdings LLC (VRIH), marking…
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%…
Earthstone Energy, Inc., First Quarter 2023 Results
Earthstone Energy, Inc., announced first quarter 2023 results. Highlights Average daily production of 104,450 Boepd(1), up 194% from Q1 2022 Net income(2) of $86.2 million, and Adjusted Net…
Battalion Oil Corporation First Quarter 2023 Results
Battalion Oil Corporation announced first quarter 2023 results. Highlights Substantial progress on acid gas treating facility as we ramp up gas delivery toward bringing the facility fully online…
Rockies - DJ Basin News
PDC Energy, Inc., First Quarter 2023 Results
PDC Energy, Inc., announced first quarter 2023 results. Highlights Net cash from operating activities of approximately $590 million, adjusted cash flows from operations, a non-U.S. GAAP metric defined…
Crescent Energy Company First Quarter 2023 Results
Crescent Energy Company announced first quarter 2023 results. Highlights Reported $256 million of net income and $54 million of Adjusted Net Income(1) Generated $232 million of Adjusted EBITDAX(1)…
Civitas Resources, Inc. First Quarter 2023 Results
Civitas Resources, Inc. announced first quarter 2023 results. Highlights Average daily sales volumes of 159.4 thousand barrels of oil equivalent per day ("MBoe/d"), near the high-end of Company…
Callon Petroleum Company First Quarter 2023 Results
Callon Petroleum Company announced first quarter 2023 results. Highlights Net income of $220.6 million, or $3.57 per diluted share (all share amounts are stated on a diluted basis),…
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…