Well Cost | Top Story | Quarterly / Earnings Reports | Second Quarter (2Q) Update | Financial Results | Hedging | Capital Markets | Capital Expenditure | Drilling Activity
Oasis Drives Down Well Costs ~10%; Adds Seven More Wells to Agenda
Print
|
Oasis Petroleum Inc. announced financial results for the quarter ended June 30, 2016 and provided an operational update.
Key Points: Decreased well costs from $6.5 million in Q1 to $5.9 million at the end of Q2 Plan to complete 53 gross (34.3 net) wells in 2016 (up from its original plan of 46 gross (28.6 net) wells), while continuing to operate two rigs and one frac spread and remaining within our original guidance of $200 million of drilling and completion capital. Highlights include: Produced 49,507 Boepd in the second quarter of 2016. Completed and placed on production 13 gross (8.7 net) operated wells in the second quarter of 2016. As of June 30, 2016, the Company had 83 gross operated wells waiting on completion. Total capital expenditures were $131.3 million for the three…- ✓ 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 Second Quarter (2Q) Update News
Berry Reaffirms FY25 Guidance; Uinta Wells Drive 2H Growth
Berry Corporation delivered a steady second quarter update that reinforced the company’s core message for 2025: production is on plan, guidance is intact, and the hedge book is…
SM Energy Hits Record Output; Driven by Uinta
In Q2 2025, SM Energy (NYSE: SM) delivered a performance that underscored its evolution from a mid-cap E&P into a streamlined, tech-enabled operator executing a multibasin optimization strategy.…
Expand Energy Talks, Wells, Frac Crews, Production For 2H-2025
In the second half of 2025, Expand Energy is not chasing production growth — it's engineering it. Fresh off record-setting drilling performance in Q2, the company is approaching…
Comstock Rides Higher Gas Prices, Operational Momentum in Q2 2025
Comstock Resources delivered a resilient second quarter, capitalizing on higher natural gas prices and solid well results across the Haynesville and Bossier plays. The company reported strong production…
A Quarter of Quiet Strength: CNX’s Patient Ascent in Appalachia
In the heart of Appalachia, CNX Resources continued to methodically execute on a playbook built for resilience and long-term value. Q2 2025 marked the company’s 22nd consecutive quarter…
Williston 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…
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%…
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…
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…
ExxonMobil Fourth Quarter, Full Year 2022 Results
Exxon Mobil Corp. reported its fourth quarter and full year 2022 results. Exxon announced fourth-quarter 2022 earnings of $12.8 billion, or $3.09 per share assuming dilution, resulting in…