E & P News
California Resources Corp. Files for Bankruptcy
California Resources Corp. has filed for bankruptcy. The company has entered into a RSA with holders of approximately 84% of the Company’s 2017 term loans, 51% of the…
Permian E&P Increasing Capex and Ramping Up Frac Crews
In its pre-Q2 release, Diamondback Energy outlined a few things worth mentioning. The company revised its 2020 capex, drilling & completion program. The new program calls for one…
Diamondback's Curtailments Back Online; Cuts 2020 Rig, Production Outlook
Diamondback Energy Inc. has provided an Q2 2020 update and announced revised full year 2020 guidance. Nearly all curtailed production is back online for Diamondback as of today,…
Spartan Delta Talks Hedges, Production Following Bellatrix Asset Deal
Spartan Delta Corp. has detailed its recent operational and corporate activities since the closing of its June 2020 acquisition, in which it acquired assets from Bellatrix Exploration. Ups…
Noble Moving Curtailments Back Online by End of July; Cuts G&A Costs 40% YOY
Noble Energy Inc. reported a Q2 preliminary update, including sales volumes and cost performance. U.S. Onshore Production / Curtailment Update During Q2, Noble's curtailments averaged approximately 11,000 Bbl/d,…
VAALCO Regains Compliance with the NYSE as Stock Price Stabilizes
VAALCO Energy, Inc. has regained full compliance with all of the NYSE’s continued listing standards, as of July 1, 2020. The company fell out of compliance in April…
Razor Energy Skips Out on Loan Interest Payment
Razor Energy Corp. will be deferring the scheduled June 30, 2020 interest payment to the Alberta Investment Management Corporation (AIMCo) under the existing $45.0 million Term Loan Facility.…
Contango Shuffles Exec Team; New President, COO, Corporate Secretary
Contango Oil & Gas Co. announced that Farley Dakan has been promoted to the position of President of the Company. Additionally, Contango has made the following appointments: Chad…
Court Orders Dakota Access / Bakken Oil Pipeline to Be Shut Down
A U.S. District Court today ordered the shut down and emptying of Energy Transfer's Dakota Access pipeline within 30 days. Currently, the Dakota Access pipeline (DAPL) transports about…
ExxonMobil Expecting $2.3B Loss for Q2 2020
ExxonMobil has reported its preliminary results for Q2 2020 in its latest 8-K filed with the SEC. In it, the company notes it expects to its second quarterly…
Abraxas Out of Compliance with Nasdaq Due to Late 10-Q
Abraxas Petroleum Corp. has received notice from NASDAQ that it is out of compliance with listing rules due to a delayed Form 10-Q filing for the period ended…
Hilcorp Finalizes $5.6B Deal for BP's Alaskan Portfolio
Hilcorp Energy Co. has finalized its $5.6 billion purchase of BP plc's Alaskan assets, according to multiple reports. The parties renegotiated the deal in late April 2020 due…
Advantage Oil & Gas Seals $100MM Sale of Glacier Gas Plant Interests
Advantage Oil & Gas Ltd. has closed the previously announced sale of a 12.5% interest in the Glacier Gas Plant to Topaz Energy Corp. for $100MM in cash.…
Eagle Ford Focused, Lonestar Skips Interest Payment
Eagle Ford pure-player Lonestar Resources announced it is not paying its interest payment due today $14.1 million on its 11.25 % senior notes due 2023. The company has…
Sanchez Exits Bankruptcy, Rebrands as Mesquite Energy
Sanchez Energy Corp. has completed its bankruptcy process and emerged as a privately held corporation under the name Mesquite Energy Inc. The company eliminated substantially all of the…
| Commodity | Price | % Change |
|---|---|---|
| Brent Crude Oil | 94.99 | -14.10% |
| Light Crude Oil | 89.46 | -12.37% |
| Natural Gas | 3.04 | 10.14% |