Ascent Resources Q1/2024 Results – significant hedging strategies to mitigate commodity price volatility
Oil Gas Leads Blog
by phinds
7h ago
Ascent Resources Utica Holdings, LLC reported a strong first quarter in 2024, with net production averaging 2.2 billion cubic feet equivalent per day and liquids production up 38% year-over-year. Oil & Gas Data Download Ascent Resources Wells Drilled Since 2023 Download They achieved a net income of $86 million and an adjusted net income of $218 million, alongside impressive Adjusted EBITDAX and Adjusted Free Cash Flow figures. The company received credit rating upgrades from Moody’s and Fitch and reaffirmed a substantial borrowing base under their credit facility. Operational highligh ..read more
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Texas Oil & Gas Secondary Containment Companies
Oil Gas Leads Blog
by phinds
7h ago
Secondary containment in the oil and gas industry refers to a protective measure designed to prevent the release of hazardous substances, such as oil or chemicals, into the environment in case of equipment failure or accidental spills. In the context of oil and gas operations, secondary containment typically involves constructing barriers or structures around storage tanks, pipelines, or other equipment to contain leaks or spills. This can include concrete berms, dikes, or specially designed containment systems. The company list below provide secondary containment products and services in Tex ..read more
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Riley Permian
Oil Gas Leads Blog
by phinds
1d ago
Website Website Linkedin Account Address 29 E Reno Ave, STE 500 Oklahoma City, Oklahoma 73104 405.415.8699 Company Description Riley Permian is focused on high-growth energy exploration opportunities in the Permian Basin with an emphasis on horizontal development of the San Andres Formation. Our technical expertise, advanced evaluation techniques, and operational experience make us leaders in the acquisition, development, and production of oil and natural gas. Riley Permian Operating Company ranks #146 in wells drilled in the US in 2023 with 14 wells drilled in Texas. O ..read more
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ATCO subsidiary to build 200-kilometre, $2B natural gas pipeline west of Edmonton
Oil Gas Leads Blog
by phinds
1d ago
ATCO Ltd. is planning to build a 200-kilometre natural gas pipeline along the Yellowhead Highway west of Edmonton to support a major net-zero petrochemical project near the Alberta capital, the utilities company announced Wednesday. The project, announced by ATCO subsidiary Canadian Utilities Limited, will cost more than $2 billion and is slated to begin supplying natural gas by early 2027. The pipeline will support Michigan-based Dow Inc.’s $8.9-billion Path2Zero petrochemicals project in Fort Saskatchewan, ATCO’s release said. Overall, the pipeline will create about 2,000 jobs and provid ..read more
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XTO Energy to start enhanced oil recovery Bakken
Oil Gas Leads Blog
by phinds
2d ago
The North Dakota Industrial Commission approved a pilot project from XTO Energy to start enhanced oil recovery (EOR). The application lists four wells in Dunn County south of Johnson’s Corner. XTO said it will inject natural gas, water and surfactants to better retrieve oil underground. Oil & Gas Data Download XTO Wells Drilled Since 2023 Download State Department of Mineral Resources Director Lynn Helms said the company is expecting a 30 to 50 percent increase in oil recovery using this method. “Which means going from 15 percent to 20 or 30 percent recovery. Still leaves 7 out of 10 b ..read more
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Western Midstream Q1/2024 Results – focus on core operations in the Delaware & DJ Basin
Oil Gas Leads Blog
by phinds
2d ago
In the first quarter of 2024, Western Midstream Partners, LP achieved record net income and adjusted EBITDA, totaling $559.5 million and $608.4 million, respectively. Oil & Gas Data Download Western Midstream Partners Texas Air Permits Download They also reported a significant increase in free cash flow, reaching $225.0 million, and announced a 52% rise in the base distribution compared to the prior quarter. Operational highlights included record natural gas throughput, completion of Mentone Train III start-up, and successful closure of non-core asset sales, totaling $794.8 million. CE ..read more
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SM Energy Q1/2024 – higher than expected production due to Eagle Ford
Oil Gas Leads Blog
by phinds
2d ago
SM Energy Company reported a strong start to 2024 with first-quarter net production exceeding expectations at 13.2 MMBoe, driven by efficient operations in South Texas. Oil & Gas Data Download SM Energy Wells Drilled Since 2023 Download The company achieved a net income of $131.2 million, and due to robust performance, it has raised its full-year production guidance to 57-60 MMBoe and lowered capital expenditure forecasts to $1.14-$1.18 billion. Operational efficiencies led to faster well completion, significantly contributing to the increased production volumes. SM Energy continues to ..read more
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Permian Resources Q1/2024 Results – reduced the average spud-to-rig release days by 18% – record production
Oil Gas Leads Blog
by phinds
2d ago
Permian Resources Corporation reported its best quarter to date for Q1 2024, with significant production growth and operational efficiencies following the integration of Earthstone. Oil & Gas Data Download Permian Resources Well Drilled Since 2023 Download The company achieved an 11% increase in average daily crude oil production to 151,794 barrels and a total average production of 319,514 barrels of oil equivalent per day. Financially, Permian Resources generated $648 million in net cash from operating activities and $324 million in adjusted free cash flow. They successfully increased ..read more
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Williams Q1/2024 Results – commitment to a natural gas-focused strategy
Oil Gas Leads Blog
by phinds
2d ago
Williams reported strong first quarter financial results for 2024, with an adjusted net income of $719 million and an adjusted EBITDA of $1.934 billion, marking significant increases from the previous year. Oil & Gas Data Download Williams Texas Facility List Download The company successfully completed key acquisitions, including six storage facilities, and advanced several major projects, such as the Transco’s Carolina Market Link and Southeast Energy Connector. These initiatives are part of a strategy to enhance their infrastructure to support growing LNG exports and power generation ..read more
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Occidental Q1/2024 Results – Permian 567 thousand barrels of oil equivalent per day (Mboed).
Oil Gas Leads Blog
by phinds
2d ago
Occidental (NYSE: OXY) reported a net income of $718 million for Q1 2024, with earnings per diluted share of $0.75 and adjusted earnings of $0.63 per share. The company achieved operating cash flow of $2.0 billion and a free cash flow of $720 million after capital expenditures of $1.8 billion. Oil & Gas Data Download Oxy USA Wells Drilled Since 2023 Download Total production was 1,172 thousand barrels of oil equivalent per day, aligning with guidance despite challenges in the Gulf of Mexico. OxyChem exceeded expectations with a pre-tax income of $260 million, benefiting from higher dem ..read more
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