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DJ Basin Hit with Flurry of Deals; Production, DUCs and 2018 Drilling Activity
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The DJ Basin has seen an upswing in deals and activity in recent months:
- SandRidge Takes Out Bonanza Creek in Cash/Stock Deal Worth $746MM (even though SandRidge investors have come out against the deal)
This Year in DJ Basin Deals : Deals Value Greater Than $200MM
DJ Basin Deals by Quarter in 2017
2018 Capital Plans - DJ Basin
With 2017 coming to a close, companies are laying out plans for spending, production and drilling for 2018. Companies with DJ Basin assets have begun to discuss what to expect in 2018.
Rig Activity in the DJ Basin
Historic Rig Count Trend in the DJ Basin
Even in a mature play like the DJ Basin, operators are continuing to move rigs into the area. From Q1 2017 to Q4 2017, the rig count grew 20 rigs in the DJ Basin. As operators plan for 2018, it is likely rigs will continue to increase in the DJ Basin.
Niobrara Oil Production 2013 to Q3 2017:
DUCs on the Rise in the DJ Basin:
More Capital Expenditure - 2018 News
Range Resources Spends $20MM Less than Expected in 2018
Range Resources announced that 2018 capital spending is currently estimated to be approximately $20 million below the $941 million budgeted for the year. The Company's 2018 program was…
Canada Well Forecast for 2019 Will Fall 20% Year over Year
We were asked by a customer of ours to provide them with a detailed forecast of Canada Drilling & Completion activity forecast. So we looked at the data…
QEP Ups 2018 Capex for More Permian Wells, Williston Refracs; Minimal Output Growth
QEP Resources reported its Q3 2018 results. Increases 2018 Capex for Permian Wells, Williston Refracs Increased full year 2018 capital expenditure guidance by 4% at the midpoint to…
Approach Defers Completion in Q3; Will Spend Less than Expected in 2018
Approach Resources reported third quarter 2018 financial and operational results. Defers Q3 Completions; Capex Will be -21% Below Midpoint of Original Budget - Q3 Production of 1,043 MBoe…
SRC IDs 22% YOY Output Growth in Q3; Adds Second Completion Crew, Ups Capex
SRC Energy Inc. has detailed its preliminary Q3 2018 operating results and recent well activity. Production Summary Production is up +22% YOY at 49.2 MBOEPD and up +3%…
Rockies - DJ 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…
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…