Company

With a focus on the Bakken in North Dakota and Texas properties, San Antonio-based Abraxas Petroleum Corp. is starting its exit from the Powder River Basin (PRB) in Wyoming and Montana as it closed an $11.1 million sale of PRB assets last Tuesday.

Eclipse Resources Corp. said Tuesday it plans to expand its asset base this year and build on records the company set in 2016, announcing executive management changes geared toward driving growth.

Eclipse Resources Corp. has completed the sale of 9,900 net acres in Southeast Ohio for $63.8 million to an undisclosed buyer in a deal that the company said could help fund a second operated rig next year.

After months of negotiations with its creditors, Stone Energy Corp. has filed for Chapter 11 bankruptcy protection to wipe out $1.2 billion of debt through a pre-packaged restructuring plan that would turn the company over to its noteholders if approved.

EQT Corp. said Monday that it would spend $1.5 billion on exploration and production next year to finance a program that sets it up for 15-20% year/year production growth in 2018 and after.

Basic Energy Services Inc. on Friday was given the green light for its prepackaged restructuring and recapitalization plan, receiving near unanimous support from voting creditors.

PDC Energy Inc. said Monday that it would direct most of its focus next year to Colorado’s Wattenberg field and the Permian Basin, laying out a plan for the assets it acquired in West Texas earlier this year that gives it a path to more growth.

Titan Energy LLC, formerly Atlas Resource Partners LP, is now trading over-the-counter.

Rex Energy Corp. continued drilling to hold its acreage with production in the third quarter, saying 61% of its Moraine East properties in Western Pennsylvania and all but one unit in the Warrior North area of Eastern Ohio should be secured by the end of the year.