E & P News
HighPoint Enacts a 1-for-50 Reverse Stock Split
HighPoint Resources Corp. announced that it will effect a 1-for-50 reverse stock split of its common stock. The Company's common stock is expected to begin trading on a…
Delphi Finalizes Restructuring, Eliminating $176MM in Debt; New Execs Take Helm
Delphi Energy Corp. has exited its bankruptcy and restructuring phase, as well as announced executive changes. As a result of the completion of the restructuring, Delphi was able…
Razor Energy Adds Service Sector Exec to Board of Directors
Razor Energy Corp. has appointed Sean Phelan to its Board of Directors, effective October 15, 2020. The Company also announces the resignation of Mr. Vick Saxon from the…
Shell / YPF to Renew Vaca Muerta Development Plan for 2021
Back in 2017, Shell and YPF signed an agreement to develop the Vaca Muerta. The companies reported an update on its program in the play, commenting that the…
Kosmos Borrowing Base Cut by $130MM to $1.32B
Kosmos Energy has successfully completed the re-determination of its reserve based lending credit facility. The Company's lending syndicate approved a borrowing base capacity of $1.32 billion, a reduction…
Report: Conoco in Talks to Acquire Concho Resources
ConocoPhillips is said to be in talks to acquire Permian player Concho Resources, according to a report by Bloomberg. Citing people familiar with the matter, a deal could…
Centennial's Borrowing Base Reaffirmed at $700 Million
Centennial Resource Development's bank group, led by JPMorgan Chase Bank, N.A., has reaffirmed the Company's $700 million borrowing base. As a result, given a reduction in revolver borrowings…
Diamondback Plans 30% Spending Cut for 2021, Flat Output; Gives 2H20 Update
Diamondback Energy Inc. reported an update for the third quarter of 2020 as well as a glimpse of its plans for 2021. 2021 Plans CEO Travis Stice noted…
Chesapeake Gets Court Approval for MidContinent Asset Sale
Bankrupt Chesapeake Energy Corp. has gotten approval from the bankruptcy courts to pursue the sale of its Midcontinent assets, according to multiple reports. In recent years, the company…
Keyera, Ovintiv Start Up Montney Pipestone Processing Complex
Ovintiv Inc. and Keyera Corp. have announced the start-up of the Pipestone Processing Facility, a natural gas processing and liquids stabilization plant supporting the Company's high-return, condensate-rich Montney…
Riviera Finalizes Exit from Midstream Biz with Blue Mountain Sale; Talks Future
Riviera Resources, Inc. announced that on October 8, 2020, it closed on the previously announced Blue Mountain sale in an all cash transaction with net proceeds of approximately…
Cabot Updates Production Outlook After September Curtailments; 2021 Hedges
Cabot Oil & Gas Corp. detailed an update for Q3 2020 and announced updated 2020 guidance. September Curtailments Dan O. Dinges, Chairman, President and Chief Executive Officer, said:…
Panhandle Oil & Gas Changes Name to PHX Minerals
Panhandle Oil and Gas Inc. has changed its name to PHX Minerals Inc. effective Oct. 8, 2020. The Company's ticker will remain "PHX" on the NYSE. Chad L.…
Southwestern Energy Borrowing Base Unchanged
Southwestern Energy Co. reported that its borrowing base was reaffirmed at $1.8 billion during its fall semi-annual redetermination. Additionally, upon the close of the Montage Resources acquisition, the…
CNRL Completes Acquisition of Painted Pony Energy
Canadian Natural Resources Limited has closed on its acquisition of Painted Pony Energy Ltd. Canadian Natural welcomes Painted Pony employees to its Northeast British Columbia and Calgary head…
| Commodity | Price | % Change |
|---|---|---|
| Brent Crude Oil | 94.99 | -14.10% |
| Light Crude Oil | 89.46 | -12.37% |
| Natural Gas | 3.04 | 10.14% |