E & P News
Shell Restarts Vaca Muerta Ops After Halt Caused by Seismic Activity
After halting activity due to seismic activity, Shell has restarted operations at the Bajada de Añelo block in Argentina, according to a report by Reuters. The seismic activity,…
Insider Activity: Murphy, Callon, Penn Virginia Execs Stock Transactions: 6/10/20
Today on Insider Transactions We see that Christopher sold 54% of his total holdings in Murphy Oil. Mangrove Partners, who owns 11% of the Penn Virginia also sold…
Insider Activity: Pioneer, Oxy Staff Members Selling Off Stock
Members of Occidental Petroleum and Pioneer Natural Resources' staff have initiated stock sales in recent days. Most of the transactions were from Pioneer, while Oxy only saw one…
Extraction Gets Green Light for Reverse Stock Split
Extraction Oil & Gas reported that its shareholders have approved a reverse stock split, according to its recent SEC filing. The ranges are 1-for-10 and 1-for-200. At the…
Callon Reverse Stock Split Approved by Shareholders
Callon Petroleum's shareholders approved its proposed reverse-stock split at its annual meeting held on June 8, 2020. In its SEC filing, the company stated that during the meeting:…
BP Cuts Jobs by the Thousands Despite 'No Layoffs' Pledge
BP plc has announced plans to cut ~10,000 jobs and freeze pay for top executives as it moves to preserve its financials amid the COVID-19 pandemic. This is…
Permian-Focused Rosehill Resources Gets Forbearance Extension
Rosehill Resources Inc. has entered into a forebearance extension agreement with its lenders (JPMorgan Chase), according to a recent SEC filing. The amended agreement is characterized by extending…
E&P Gets $500 in Liquidity; Plans to Continue Executing Dev. Program
QEP Resources, Inc. has entered into an amendment to its existing credit agreement with Wells Fargo Bank, National Association, and other lenders. The amendments increase the company's liquidity…
Amplify Energy Regains NYSE Compliance
Amplify Energy Corp. has regained compliance with the NYSE's continued listing standards. On April 20, 2020, Amplify received notification from the NYSE that the Company had fallen below…
Southwestern Energy General Counsel Retires
Southwestern Energy Co. announced the retirement of John Ale, General Counsel and Corporate Secretary, effective June 30, 2020, following more than six and half years leading the Company's…
Bullish on Oil: Operators Turn on Taps After Curtailments
This week, several companies have announced that they are placing the majority of their curtailed production back online. They largely credit the improvement in oil prices as the…
Bakken-Focused Bruin E&P Exploring Strategic Alternatives
Bruin E&P Partners, a Bakken focused E&P that backed by Encap, has missed its first-quarter 2020 borrowing base deficiency payment, which was due in May. Lenders under Bruin's…
Zargon Oil & Gas First Quarter 2020 Results
Zargon Oil & Gas Ltd. has released its 2020 first quarter financial results. Highlights: Funds flow from operating activities was a negative $1.24 million compared to $1.35 million…
WPX Talks Revised Drilling Program; New Capex and Refinancing
WPX Energy has cut its planned spending for 2020, according to its most recent filing with the SEC. Capex Reduced by Another ~$290MM (-$690 Total) In addition to…
Montage Puts Production Back Online, Ups Guidance; Taps New COO
Montage Resources Corp. has increased its full year and second quarter 2020 production guidance and provided an organizational update. Updated Production Guidance: In connection with improving crude oil…
| Commodity | Price | % Change |
|---|---|---|
| Brent Crude Oil | 94.99 | -14.10% |
| Light Crude Oil | 89.46 | -12.37% |
| Natural Gas | 3.04 | 10.14% |