E & P News
Sable Permian Resources Files for Bankruptcy Protection
Sable Permian Resources LLC has filed for bankruptcy, according to a recent SEC filing. The company has secured $150 million financing (DIP) to fund operations while the company…
Panhandle's Credit Cut Over 50% to $32MM; Current Debt of $28MM
Panhandle Oil & Gas has reported changes to its revolving credit facility by its lenders. The amended facility reduces the Company's borrowing base to $32 million effective June…
Baytex Puts 80% of Curtailments Online; Canada Heavy Oil Remains Shut-In
Baytex Energy Corp. has initiated the resumption of previously shut-in crude oil production as well as reiterated its 2020 plans. Curtailments - Bringing 80% Back Online Earlier this…
Insider Sell/Buy: Harold Hamm Buys $57 Million in Stock; Diamondback, Extraction
This week in our popular insider buys and sells. Harold Hamm from Continental Resources spent $57 million to purchase 3.4 million shares. CEO Chazen also purchased 50k shares…
Northern Oil & Gas IDs Plan for Reverse-Stock Split
Northern Oil and Gas, Inc. plans to undertake a reverse stock split of Northern's common stock at a ratio ranging from any whole number between 1-for-6 to 1-for-10.…
From the Presentation Manager: Key Slides from EOG, Devon, Murphy, Laredo
This week, we pulled several key slides from our Presentation Manager. They are from the latest presentations of several E&Ps, including: EOG Resources, Murphy Oil Corp., Laredo Petroleum…
W&T Offshore First Quarter 2020 Results
W&T Offshore, Inc. reported operational and financial results for the first quarter 2020. Key highlights included: Produced 53,553 barrels of oil equivalent per day ("Boe/d"), or 4.9 million…
Russia's Rosneft Ramping Up Oil Production Starting in July
Russia-owned oil company Rosneft is prepping to ramp up production, according to its most recent presentation. After a lull in May and June 2020, the company's oil output…
Talos Energy's Borrowing Base Cut 14% to $985MM
Talos Energy has reported a change to its credit line. Effective immediately, the borrowing base under the company's reserves-based lending facility has been revised to $985 million, down…
Contango Oil & Gas First Quarter 2020 Results
Contango Oil & Gas Co. reported its financial results for the first quarter ended March 31, 2020. First Quarter 2020 Highlights Production of 1,720 Mboe for the quarter,…
Continental Cautiously Restoring Shut-In Production
Continental Resources said it expects to restore 20% of the 70% curtailed production in July. See chart below. The company expects June total production to average 155,000 (mid-point…
Chesapeake Skips Interest Payment; Drilling Activity Update
Chesapeake Energy has opted to skip making its interest payment on bonds due 2021 and 2027. The company owes more than $250 million in interest payment this year,…
Matador IPs Five-Well Wolfcamp Pad; Top Well Hits 2,860 BOEPD IP24
Matador Resources Co. announced the results from the first five wells completed and turned to sales on the Ray State tract in the Rustler Breaks asset area. The…
Another STACK Focused E&P Files Chapter 11 Bankruptcy
Chisholm Oil & Gas, a STACK-focused E&P owned by private equity firms Apollo Global Management, filed for bankruptcy in the U.S. late on Wednesday, according to court documents.…
Ovintiv Cutting Workforce in Calgary, Texas Offices; Field Staff Also Affected
Ovintiv Inc. (formerly Encana) is making workforce cuts as low prices continue to put pressure on operator's financials, according to multiple reports. The layoffs will affect workers at…
| Commodity | Price | % Change |
|---|---|---|
| Brent Crude Oil | 94.99 | -14.10% |
| Light Crude Oil | 89.46 | -12.37% |
| Natural Gas | 3.04 | 10.14% |