Highlights Raising full-year 2018 oil production outlook High-rate Boundary Raider wells set Delaware Basin record STACK Coyote development delivers prolific production rates Showboat project online 40 days ahead of plan G&A and interest savings to reach $175 million annually $1 billion share-repurchase program underway OKLAHOMA CITY--(BUSINESS WIRE)--Devon Energy Corp. (NYSE: DVN) today reported operational and financial results for the first quarter of 2018. Also [Read more]
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New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Apr. 30 Software Developer Commercial Software High Arctic Energy Services Calgary Apr. 29 Senior Business Analyst - Business Planning and Performance Management [Read more]
Point Loma Resources Announces Closing of Acquisition of Oil & Gas Assets – Amendment
CALGARY, Alberta, May 01, 2018 (GLOBE NEWSWIRE) -- Point Loma Resources Ltd. (TSX VENTURE:PLX) (the “Corporation” or “Point Loma”) is pleased to announce that it has acquired certain oil and gas assets from a private oil and gas company involved in a receivership process, with an effective date of November 1, 2017 (the “Acquisition”). After closing adjustments, the net purchase price of the Acquisition was approximately $779,000 for Point Loma’s 70 percent working interest share. The [Read more]
Boom time comes early to West Texas oil patch
MIDLAND, Texas (Reuters) - In West Texas, rising oil prices are fueling a sharp economic upswing, lifting employment and pay to records, driving up spending at hotels, restaurants, and car dealerships, and raising the cost of housing and other essentials. This parched patch of land, under which lie the largest oil-producing rock formations in the United States, is used to growth binges as well as the busts that always follow. After a two-year crash, the price of crude began to recover in [Read more]
Encana delivers solid first quarter financial results; company on track to deliver more than 30 percent annual production growth within cash flows
CALGARY, Alberta, May 01, 2018 (GLOBE NEWSWIRE) -- (TSX:ECA) (NYSE:ECA) Encana’s first quarter financial and operating performance has the company firmly on track to deliver more than 30 percent annual production growth within expected cash flow. Increased year-over-year liquids production, continued cost efficiencies and strong realized pricing resulting from the company’s market diversification strategy contributed to significant non-GAAP cash flow growth and margin expansion. Consistent [Read more]
Coastal Gaslink Pipeline Awaits LNG Canada FID
TransCanada subsidiary has spent $400mn so far on pipeline link After six years of planning, hundreds of meetings with First Nations and an expenditure of some $400mn, Coastal GasLink, the $4bn pipeline that will deliver gas to the $36bn LNG Canada terminal at Kitimat, British Columbia, awaits a positive FID from LNG Canada partners before putting shovels in the ground on the 670 km pipeline. Rick Gateman, president of TransCanada subsidiary Coastal GasLink, will address two panels at the [Read more]
Innovative Data Analytics Platform Used by More than 40 US E&P Customers Enters Canada
Prior to the global oil industry downturn, shale oil’s record output had been rewriting the U.S. production story. However, with higher drilling and fracking costs make shale oil extraction more expensive than conventional drilling, operators were looking for innovative techniques for saving time and money in order to survive and thrive. Thus, a unique big data analytics platform was born in the United States which redefined how engineers make real-time decisions that lead to drill cheaper, [Read more]
2018 Global Petroleum Show: The Elephant in the Room
U.S. crude output jumps to record 10.26 million barrels per day in February: EIA
NEW YORK (Reuters) - U.S. crude oil production jumped 260,000 barrels per day (bpd) to 10.26 million bpd in February, the highest on record, the Energy Information Administration said in a monthly report on Monday. Production in Texas rose by 106,000 bpd to above 4 million bpd, also a record high based on the data going back to 2005. The Permian basin, which stretches across West Texas and eastern New Mexico, is the largest U.S. oilfield. Output from North Dakota declined marginally to [Read more]
PM sells Trans Mountain pipeline as Amazon announces expansion in Vancouver
VANCOUVER - Prime Minister Justin Trudeau promoted the expansion of retail giant Amazon's technology hub in Vancouver on Monday as he used the region's record-high gas prices to continue selling the expansion of the Trans Mountain pipeline. "I know that part of the challenge that folks across the Lower Mainland and B.C. are facing right now is related to the fact that we are connected so closely to the U.S. market and to what happens in the United States," Trudeau said as the price of gas [Read more]