E & P News
Ex-Chesapeake Exec Heads to Laredo Petroleum
Laredo Petroleum, Inc. has reported a management change as well as a G&A update. CFO Departs The company has named Bryan Lemmerman as Senior Vice President and Chief…
Murphy Talks Eagle Ford, GOM 2020 Updated Program
In its June 2020 presentation, Murphy Oil Corp. detailed recent developments aimed at financial preservation - including major G&A spending cuts. The company also updated its 2020 operational…
Operator Touts Millions In Savings From New Frac Technology
As a result of deploying new technologies the company is expecting its total well cost to be reduced by 23%.
Bonavista Gets Forebearance Extension for Debt Maturities
Bonavista Energy Corp. has reported that its due date in regard to its forebearance agreement with lenders has been extended to June 17, 2020. The extension was made…
Highwood's Latest Deal Axed as AER Rejects License Transfer; Updates Ops
Highwood Oil Company Ltd. reported that the Red Earth Divestiture initially announced February 18, 2020 has been terminated. Highwood received notice on May 1, 2020 from the Alberta…
Mid-Con Energy Partners First Quarter 2020 Results
Mid-Con Energy Partners, LP reported its operating and financial results for first quarter 2020 and details of the recently announced strategic recapitalization transactions. Recent Updates As announced on…
California Resources Gets 30-Day Extension for Interest Payment
California Resources Corp. has entered into amendments for certain forbearance agreements, according to a recent SEC filing. The deadline for its next interest payment has been extended from…
BP Expects ~$15 Billion in Impairment Charges for 2Q 2020
BP plc has announced asset write downs / impairment charges as a result of the COVID-19 pandemic and oil price uncertainty. The company expects non-cash impairment charges and…
Amplify Energy's Borrowing Base Cut Nearly 40% by Lenders
Amplify Energy Corp.'s lenders have cut the company's borrowing base by 33%, with further cuts planned on a monthly basis (which will result in a total decrease of…
Niobrara-Focused Extraction Oil & Gas Files for Bankruptcy
Extraction Oil & Gas after having missed its May 15, 2020 bond payment has decided to file chapter 11 bankruptcy. Ths company has ~$1.5 billion in debt and…
Top Well: WPX Energy Reports Monster Permian Basin Well
On May 15, 2020 WPX Energy reported that the SMOKIN JOE 4441-28 G 7H well that was completed on a 7,400 foot lateral flowed 7,337 barrel of oil…
Top Permian E&P Misses Interest Payment
As most of you might remember, Sable Permian Resources was able to refinance its debt without having to file bankruptcy. However, the new 12% refinancing was expensive. S&P…
Pipestone's Credit Line Reaffirmed at $225MM; Restarts Production at Shut-In Wells
Pipestone Energy Corp. has reported an update to its credit facility as well as its operations. Credit Facility Reaffirmed at $225MM In the latest redetermination of its credit…
Corporate Greed: Extraction Execs Scores Millions in Bonuses Ahead of Bankruptcy Filing
Extraction Oil & Gas has approved a 'cash-retention' plan for its executives amounting to $6.7 million, according to its most recent SEC filing. This development was announced after…
Black Stone Inks DUC 'Royalty Relief' Agreement with XTO
Black Stone Minerals has entered into a new incentive agreement with XTO Energy Inc. involving certain DUCs in the Shelby Trough acreage in San Augustine County, Texas. The…
| Commodity | Price | % Change |
|---|---|---|
| Brent Crude Oil | 94.99 | -14.10% |
| Light Crude Oil | 89.46 | -12.37% |
| Natural Gas | 3.04 | 10.14% |