LONDON, Feb 1 (Reuters) - U.S. crude oil production topped 10 million barrels per day (bpd) in November, according to monthly estimates published by the Energy Information Administration on Wednesday. Crude output was the highest in 47 years and just 6,000 bpd below the record set in November 1970 (“Petroleum Supply Monthly”, EIA, Jan. 31). Production has doubled over the last 10 years, from a low of around 5 million bpd in 2007, reversing decades of decline since the 1970s. The most [Read more]
Headlines
ConocoPhillips Reports Fourth-Quarter and Full-Year 2017 Results; Increases Quarterly Dividend by 7.5 Percent and Planned 2018 Share Repurchases to $2 Billion; Announces Preliminary 2017 Year-End Reserves and Bolt-On Transaction in Alaska
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today reported fourth-quarter 2017 earnings of $1.6 billion, or $1.32 per share, compared with a fourth-quarter 2016 net loss of $35 million, or ($0.03) per share. Excluding special items, fourth-quarter 2017 adjusted earnings were $0.5 billion, or $0.45 per share, compared with a fourth-quarter 2016 adjusted net loss of $0.3 billion, or ($0.26) per share. Special items for the current quarter were primarily driven by benefits from U.S. tax [Read more]
geoLOGIC Frac Data and Analytics Lunch & Learns
How are you currently incorporating frac analytics into your workflows? In today’s technology driven, cost-focused environment, completions optimization is crucial. Do you have the right data and the right tools to make the best possible decisions? At our upcoming Frac Data Analytics Lunch & Learn Sessions, we’ll explain what makes our data unique, provide relevant case studies and deliver workflow-based product demonstrations. Wednesday, February 21, 2018 from 8:30AM to 10AM [Read more]
Introducing the new Divestco.com
After months of hard work, Divestco is excited to announce the launch of our completely redesigned web site. The new Divestco.com provides fresh and updated information about our products and services, improved functionality and navigation, and it is fully optimized and responsive to work on any device - mobile to desktop. With a clean uncluttered modern design, we have made it easy for you to find the information you need quickly and easily. Our new web site will be updated on a regular basis [Read more]
Shell poised to dethrone Exxon in oil titans’ cash clash
LONDON (Reuters) - Royal Dutch Shell (RDSa.L) could usurp its largest rival Exxon Mobil (XOM.N) as the energy sector’s biggest cash generator after higher oil and gas prices combined with an improved performance lifted its 2017 revenue. Chief Executive Ben van Beurden has made no secret of his desire to challenge the dominance of the world’s largest listed oil company after its $54 billion purchase of BG Group in 2016 catapulted Shell into second place in terms of production. The [Read more]
Pipelines, not carbon taxes, bigger factor in energy competitivess: report
OTTAWA - Canada's oil and gas producers are struggling to stay competitive with their U.S. counterparts because of the fight to expand pipeline capacity, says a new report from the C.D. Howe Institute. The analysis by associate director of research Benjamin Dachis is the first in what he says will become an annual comparison of Canada's oil and gas sector with its North American equivalents. The report comes just days before the federal government is expected to unveil how it [Read more]
Blackbird Energy Inc. Provides an Operational Update Including Estimated Monthly Sales Volumes, a Test Result From Its Pipestone/Elmworth Montney Play, Estimated Productive Capacity, and the Pending Tie-In of Non-Operated Wells
CALGARY, Alberta, Feb. 01, 2018 (GLOBE NEWSWIRE) -- (TSX-V:BBI) Blackbird Energy Inc. (“Blackbird” or the “Company”) is pleased to announce its estimated total corporate January sales production, the test results from its 1-20-70-7W6 Upper Montney Development well, an estimate of current behind-pipe productive capacity, details surrounding the pending tie-in of 5 (1.2 net) non-operated wells, and the continued expansion of Blackbird’s acreage. “A key objective for Blackbird has been to [Read more]
Painted Pony Announces Fourth Quarter Production, Operational Update and Executive Departures
CALGARY, Jan. 31, 2018 /CNW/ - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) is pleased to announce preliminary 2017 fourth quarter average daily production volumes, an update on first quarter 2018 field operations as well as changes to the executive team. Production Daily production volumes for the fourth quarter of 2017 averaged approximately 315 MMcfe/d (52,500 boe/d), based on preliminary results, and included approximately 9% liquids or approximately 4,500 [Read more]
Obsidian Energy Announces Legacy Asset Disposition
CALGARY, Jan. 31, 2018 /CNW/ - OBSIDIAN ENERGY LTD. (TSX/NYSE – OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce that we closed an agreement to dispose of a significant portion of our non-core legacy assets, in exchange for the assumption of abandonment and reclamation liabilities. David French, President & CEO commented, "This transaction is another important step forward for Obsidian Energy. It demonstrates the continued refocusing of the business only [Read more]
Bonavista Energy Corporation Replaces 189% of 2017 Production with the Addition of 49.8 MMboe of Proved Plus Probable Reserves
(TSX:BNP) - CALGARY, Jan. 31, 2018 /CNW/ - Bonavista Energy Corporation ("Bonavista") is pleased to report that our 2017 exploration and development ("E&D") program has resulted in a finding and development ("F&D") cost of $7.60 per barrel of oil equivalent ("boe") on a proved plus probable basis. When combined with our acquisition and divestiture program ("A&D"), finding, development and acquisition ("FD&A") costs were $7.56 per boe on a proved plus probable basis, in each case [Read more]