Denver-based Enservco Corp., a provider of well-site services, said it will invest $6 million in capital expenditures during 2013, with $4.7 million being allocated to new equipment fabrication. The budget also includes $1.3 million for enhancements to existing equipment. Management estimates the annualized revenue potential from the new equipment at about $10 million. The equipment includes nine frack heating trucks with a total of 12 burner boxes, four hot oilers and two well acidizing trucks. The investments will expand the company’s frack heating capacity by 40% and increase its hot oiling fleet by 15%. Enservco said sales during April reached $3.7 million, up 85% from one year ago. The improvement was fueled in part by cool spring temperatures across the company’s service territories, as well as sustained demand for fluid heating services, particularly in regions where new fracking techniques require higher water temperatures than traditional frack designs.
Denver
Articles from Denver
PDC Production Up on Wattenberg Play; Liquids Hit Record
Citing drilling and acquisitions it made last year in the Wattenberg field north of Denver, PDC Energy Inc. on Wednesday reported a 19% jump in production in the first quarter, compared with the same period last year, and record output of more than 10,000 b/d of liquids.
DCP Midstream Partners Expands in Eagle Ford
Denver-based DCP Midstream Partners LP announced a $626 million dropdown from DCP Midstream of an additional 47% interest in its Eagle Ford joint venture, bringing its ownership to 80%. It’s the largest dropdown in the history of the partnership.
Western Gas Buys Stakes in Marcellus NGL Systems
Western Gas Partners LP is expanding its business in the Marcellus Shale after agreeing to pay $620 million-plus for stakes in two natural gas liquids (NGL) gathering systems in Pennsylvania that have combined throughput of more than 1.2 Bcf/d.
BLM Ordered to Release Data on Colorado Leases
A U.S. District Court in Denver ruled Wednesday that the Bureau of Land Management’s (BLM) practice of keeping secret from the public the identity of entities nominating public lands for oil and natural gas development is unlawful.
Colorado Agency Postpones Setback Rule Decision
The Colorado Oil and Gas Conservation Commission (COGCC) reconvened Thursday in Denver, but was unable to resolve lingering issues and delayed until Feb. 11 finalizing new setback requirements for oil and natural gas wells.
Colorado Officials Set Near-Final Setback Rules
The Colorado Oil and Gas Conservation Commission (COGCC) ended three days of hearings in Denver Wednesday as it drew closer to finalizing new setback requirements for oil and natural gas wells, but it still fell short of finishing the unpopular and complex task.
Bakken-Fueled Continental Aiming to Triple Output, Reserves
Continental Resources Inc. has launched a growth plan to triple production and proved reserves between now and the end of 2017, largely from its leading Bakken Shale position, but also with gains from other onshore holdings, including a discovery in the southwest corner of Oklahoma.
Venoco: California’s Urban, Monterey Shale Player
Denver-based exploration and production (E&P) independent Venoco Inc. drew attention in a recent financial commentary citing the renewed oil/gas production in formerly depleted fields in and around Los Angeles as proof that E&P activity can coexist in heavily populated urban areas (see Daily GPI, July 8).
San Juan’s Mancos Generates Some Excitement
Calgary-based Encana Corp. and Denver-based Bill Barrett Corp. are stirring up interest in New Mexico’s San Juan Basin, where they are working separately with area drillers to explore in the Mancos Shale.
