E & P News
Permian E&P to Ramp Up Well Completions in 2021
ExxonMobil provided a look into its Permian plans for 2021 during the most recent third quarter 2020 call. The biggest highlight is that the company plans to ramp…
Pipeline Update : One Million Barrels Per Day Permian Pipeline Commences Operations
MPLX LP has reported that the one million bbls / per day Permian pipeline has commence operations as of October 2020 and will be available to shipper and…
Southwestern Energy Third Quarter 2020
Southwestern Energy Co. announced financial and operating results for the third quarter ended September 30, 2020. Q3 Highlights: Gas production was 173 Bcf representing 78% of total production.…
Antero Resources Third Quarter 2020 Results
Antero Resources announced its third quarter 2020 financial and operational results. Q3 Highlights Include: Net production averaged 3,772 MMcfe/d, including 220,000 Bbl/d of liquids (65% natural gas by…
Range Resources Third Quarter 2020 Results
Range Resources Corp. announced its third quarter 2020 financial results. Third Quarter Highlights Well costs continue to average less than $600 per lateral foot, including facility costs, the…
Shell Third Quarter 2020 Results
Shell announced reported its Q3 2020 results. Future Strategy The company also detailed a cash allocation framework that will enable it to reduce debt, increase distributions to shareholders,…
ExxonMobil 3Q: IDs 2021 Capex Plan; Cuts Permian D&C Costs, Faster Drill Rates
Exxon Mobil Corp. reported its Q3 2020 results. Preliminary 2021 Plan - Down 24% from 2020 For 2021, Exxon's capital plan is expected to be in the range…
Ring Energy Adds Two Independent Directors to Board
Ring Energy, Inc. reported the appointments of Mr. John A. Crum and Mr. Richard E. Harris to the Company's Board of Directors as independent Directors. About Crum Mr.…
Chevron 3Q20: Oil Output Up on Permian Growth; Cash Flow, Spending Falls YOY
Chevron Corp. reported its Q3 2020 results. Cash Flow Down 62% YOY Cash flow from operations in the first nine months of 2020 was $8.3 billion, down 62%…
Cabot Reports Third Quarter 2020 Results
Cabot Oil & Gas reported its third quarter 2020 results. $27 million outspend (Cash from operations - capex) Net loss of $15 million compared to $30.4 million net…
Ring Energy Terminates Delaware Basin Asset Sale
Ring Energy announced that its sale agreement for its Delaware Basin asset was cancelled after the buyer was unable to complete the transaction. The exact reason the buyer…
ConocoPhillips Warns 'Pass Ballot Initiative 1, We Stop Drilling In Alaska'
During its Q3 2020 earnings call, ConocoPhillips, the largest driller in Alaska, said it would stop drilling on the North Slope if voters approve a new tax on…
QEP Talks 2021 Plans, Will Complete More Wells with Less Capex
QEP Resources provided a look into its 2021 plans. Here is what Tim said " I will now discuss briefly our current outlook for 2021 as demonstrated on…
SM Energy Third Quarter 2020 Results
SM Energy Co. announced operating and financial results for the third quarter 2020 and provided updates to its 2020 guidance. Highlights: Capital discipline. Capital expenditures demonstrated continued capital…
Permian Operator to Drill & Complete +10% More Wells in 2021
In its Q3 2020 report, SM Energy provided a look into what to expect in 2021. As you can see from the chart below, the company plans to…
| Commodity | Price | % Change |
|---|---|---|
| Brent Crude Oil | 94.99 | -14.10% |
| Light Crude Oil | 89.46 | -12.37% |
| Natural Gas | 3.04 | 10.14% |