Forecast - Production | Drilling Activity
Riviera Resources Ups Guidance for 3Q18; Credits Higher Non-Op Activity
Print
|
Riviera Resources has raised guidance for the third quarter 2018.
The Company highlights the following updates to third quarter 2018 guidance:
- Production guidance has been raised by approximately 4.5% primarily due to higher non-op activity in the Anadarko Basin and less downtime across many of our asset areas.
Updated Third Quarter 2018 Guidance
The information below provides investors with updated third quarter 2018 guidance estimates.
| Previous Guidance Q3 2018E |
Updated Guidance Q3 2018E |
|||
| Net Production (MMcfe/d) | 275 – 305 | 296 – 309 | ||
| Natural gas (MMcf/d) | 225 – 250 | 238 – 248 | ||
| Oil (Bbls/d) | 1,300 – 1,500 | 1,400 – 1,500 | ||
| NGL (Bbls/d) | 6,900 – 7,700 | 8,200 – 8,600 | ||
| Other revenues, net (in thousands) (1) | $ 9,000 – $ 13,000 | $ 9,000 – $ 11,000 | ||
| Blue Mountain Midstream business | $ 3,000 – $ 6,000 | $ 2,250 – $ 2,500 | ||
| Other | $ 6,000 – $ 7,000 | $ 6,750 – $ 8,500 | ||
| Costs (in thousands) | $ 48,000 – $ 54,000 | $ 50,000 – $ 55,000 | ||
| Lease operating expenses | $ 23,000 – $ 25,000 | $ 22,000 – $ 24,000 | ||
| Transportation expenses | $ 19,000 – $ 21,000 | $ 21,000 – $ 23,000 | ||
| Taxes, other than income taxes | $ 6,000 – $ 8,000 | $ 7,000 – $ 8,000 | ||
| Adjusted general and administrative expenses (2) | $ 22,000 – $ 24,000 | $ 26,000 – $ 27,000 | ||
| General and administrative- severance expenses | $ 12,000 – $ 14,000 | $ 7,500 – $ 8,500 | ||
| Targets (Mid-Point) (in thousands) | ||||
| Adjusted EBITDAX | $ 4,000(3) | $ 12,000(4) | ||
| Oil and natural gas capital | $ 16,000 | $ 7,500 | ||
| Blue Mountain Midstream capital | $ 29,000 | $ 22,500 | ||
| Total capital | $ 50,000 | $ 34,000 | ||
| Cash balance as of 9/30/2018 (in thousands) | $ 100,000 | $ 157,000 | ||
| Weighted Average NYMEX Differentials | ||||
| Natural gas (MMBtu) | ($ 0.47) – ($ 0.38) | ($ 0.37) – ($ 0.33) | ||
| Oil (Bbl) | ($ 5.05) – ($ 4.55) | $ 3.25– $ 3.75 | ||
| NGL price as a % of crude oil price | 36% – 41% | 42% – 44% | ||
(1) Includes other revenues and margin
More Forecast - Production News
Coterra Energy Q4, Full Year 2022 Results; 2023 Plans
Coterra Energy Inc. reported fourth-quarter and full-year 2022 financial and operating results. Thomas E. Jorden, Chairman, Chief Executive Officer and President, commented, "Coterra delivered a strong 2022. Outstanding…
Southwestern Energy 4Q, Full Year 2022 Results; Talks 2023 Plans
Southwestern Energy Co. announced financial and operating results for the fourth quarter and full-year 2022 and provided 2023 guidance. CEO Bill Way said: "In 2022, the Company delivered…
Operators Cite Investor Pressure for Production Growth Restraint
The latest survey by the Dallas Fed has unveiled that most E&P companies cite investor pressure as the primary reason for meager production growth. 60% of Execs Cite…
Murphy Oil to Keep 2021 Spending, Production Near 2020 Levels
In its presentation at the Goldman Sachs Global Energy Conference, Murphy Oil Corp. outlined its capital and production plans for 2021. The company noted that it largely plans…
Ecopetrol IDs 2021 Capex; Bets Bulk on Colombian Ops
Ecopetrol S.A. has approved the 2021 investment plan, which the company has set at a range of $3.5 and $4 billion (at the midpoint, it's slightly lower than…
Ark-La-Tex News
These Three Companies Will Increase Drilling & Completion Over The Next 3 Year
In the span of fifteen months, three Japanese energy companies committed more than $10.3 billion to U.S. natural gas production assets — a buying spree that has transferred…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Diversified Energy Striking While the Iron is Hot in East Texas
Transaction Summary Diversified Energy has entered into a definitive purchase and sale agreement to acquire high-working interest, natural gas producing assets in East Texas from Sheridan Production for…
Mitsubishi to Buy Aethon for ~$5.2B, Taking Scaled Haynesville Gas Platform
Mitsubishi Corporation has agreed to acquire Aethon (Aethon III LLC, Aethon United LP and related entities) for a total equity investment of approximately $5.2 billion, delivering Mitsubishi a…
Amplify Exits Haynesville and Cotton Valley
Amplify Energy announced a series of transactions that will result in a complete exit from its interests in East Texas for total anticipated combined consideration of $127.5 million.…
Mid-Continent - Anadarko Basin News
From Hedge Funds to Supermajors: Everyone Wants Hub-Linked Gas
TotalEnergies has signed a deal to acquire a 49% non-operated interest in Continental Resources’ Anadarko Basin natural-gas assets in Oklahoma—low-cost, long-plateau rock tied into existing midstream and well…
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…
Gas Players : A Comparative Analsysis
As part of our Operator Bits series, we decided to take a look at some gas players. Expand Energy, (Haynesville, Marcellus), EQT (Marcellus) , CNX (Marcellus/Utica), Comstock) Here's…
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…