Houston-based Noble Energy Inc. on Wednesday increased its production forecast for the final three months of the year based on improved completion techniques in the Eagle Ford Shale and Denver-Julesburg Basin (DJ), as well as initial results from wells in the Gulf of Mexico.
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Parsley Acquires Acreage, Production in Permian For $148.5M
Permian pure-play operator Parsley Energy Inc. has agreed to acquire more than 5,000 undeveloped net acres within its core operating area, plus producing oil and gas properties adjacent to its holdings in Texas, for $148.5 million in cash.
Marathon Oil Targeting Eagle Ford, Oklahoma For Growth
One week after reaching into investors’ pockets with a dividend cut, Marathon Oil Corp. CEO Lee Tillman told analysts some of the dollars that would have gone to shareholders will find their way to the Eagle Ford Shale and the company’s emerging Oklahoma resource plays.
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ConocoPhillips Cuts Billions in Capex, Operating Costs For Rest of 2015; Reports $1.06B 3Q Loss
Nearly two months after shedding 10% of its workforce, ConocoPhillips slashed billions from its guidance for capital expenditures (capex) and operating costs for the remainder of 2015. It also reported a net loss of $1.06 billion for 3Q2015.
More With Less: Marathon U.S. Plays Profitable With Cheap Oil, CEO Says
Treading cautiously in an environment of low and volatile commodity prices, Marathon Oil Corp. executives on Thursday touted success at scaling back activity in U.S. resource plays where the company is active: the Eagle Ford and Bakken shales, and Oklahoma’s South Central Oklahoma Oil Province (SCOOP) and multi-horizon STACK plays.
Bakken Shale Leads Hess Production Higher, Despite Commodity Prices
Led by its substantial interest in the Bakken Shale in North Dakota, Hess Corp.’s overall production in the second quarter increased 23% to 391,000 boe/d, which has led the company to increase full-year forecasts overall.
Analysts Infer Pioneer Production Down in Eagle Ford, Capex Cuts Looming
Although it will be another three weeks before Pioneer Natural Resources Co. holds its fourth quarter earnings conference call and announces a capital budget for 2015, analysts are already reading the tea leaves from a company executive and its joint venture (JV) partner in the Eagle Ford Shale over how both 4Q2014 and 2015 will shake out.
Magnum to Take Midstream Subsidiary Public in Early 2015
Magnum Hunter Resources Corp. said Friday it plans to take its Appalachian midstream subsidiary, Eureka Hunter, public sometime early next year, as throughput on the system continues to rise and the company plans to bring a backlog of wells online in the Marcellus and Utica shales.
Athlon Charms Again With Midland Basin Magic
About 15 months since its initial public offering, Fort Worth, TX-based Athlon Energy (ATHL) has continued to win praise from analysts who follow the company. The latest results from a trio of Midland Basin wells brought the company more of the same.
PVA Expects Delays in 2H2014 Drilling Program
Penn Virginia Corp. (PVA) said it expects delays in its drilling program in 2H2014, and it expects those delays to have a slight impact on production, expected earnings and capital expenditures (capex) for the remainder of the year.