Earnings

Ohio pure-play Eclipse Resources Corp. is planning to hunker down this year with a focus on preserving capital and protecting its asset base to ensure not just its “survival” but “prominence when the commodity cycle inevitably returns,” CEO Benjamin Hulburt said Thursday during the company’s year-end earnings call.

In an effort to boost oil production, Permian pure-play operator Parsley Energy Inc. increased its capital expenditures (capex) budget and plans to drill more wells in 2016.

Southwestern Energy Co., the fourth largest natural gas producer in the United States, expects total output to decline by 14-17% this year as it pulls back on new development and concentrates only on completions. To help defray costs, the producer also has secured lower transport rates for its West Virginia production.

Appalachian pure-play operator Antero Resources Corp. rode a strong hedge book and solid firm transportation (FT) portfolio to buck last year’s trend of losing money and revenue, reporting a profit for both the fourth quarter and full year.

Though Permian pure-play Concho Resources Inc. plans to spend within its cash flow as it weathers the downturn, management of the Midland, TX-based exploration and production (E&P) company said it’s positioned to deliver double-digit production growth in 2017 at current strip pricing.

Williston pure-play operator Oasis Petroleum Inc. cut its capital expenditures (capex) budget by more than one-third and plans to run a two-rig drilling program in 2016, after beating its production guidance for 4Q2015 and the year and seeing its lease operating expenses (LOE) for the quarter hit their lowest level since 2012.

Super independent Apache Corp. plans to remain cash flow neutral this year — even at a $35/bbl oil price — by relying on a pullback in development, lower well costs and a sharp reduction in capital spend.

Like many producers have announced in 4Q earnings calls over the last several weeks, balance sheet protection will be the name of the game for PDC Energy Inc. heading into 2016, as the Denver-based exploration and production (E&P) company continues to focus on its goal of cashflow neutrality through hedging and improved well economics.

In a lower-for-longer commodity price environment, Diamondback Energy Inc. management said Wednesday the Midland, TX-based Permian operator could be looking for potential mergers and acquisitions (M&A) should the right opportunity present itself.