Topic: Anadarko Petroleum Corporation

Surge Energy, EOG Resources, and Antero Well Updates

Surge Energy completes Spraberry well (2018-03-10) Houston-based Surge Energy reported the completion of a horizontal well in the Spraberry Trend in Howard county, Texas. The Permian well produced 24-hour IP rates of 194 bbl of oil, 347 MMcf of gas and 926 bbl of water along its 7,028 ft lateral for a gas-oil ratio of 1788. Drilled to 7,432 ft, the Clark Unit B 24-13 62SH is equipped with a downhole actuation sleeve with a PSIG of 8856.   EOG Resources Completes 2-mile...

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Has Anadarko cracked the code in the DJ Basin?

The operator stated in its first-quarter 2017 operations report that a new completion design is being tested in their Colorado acreage. The new design involves increased fluid volumes coupled with tighter stage spacing. The report also states early results of the new design show improvements of more than 10% cumulative oil to date, with their fourth-quarter 2017 operations report estimating a 20% uplift in EURs.One crucial part of the puzzle, proppant amount, is not mentioned in the reports. Energent took...

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The Sand Plateau, Cashless Profits, and More From Earnings Season

Key Trends:Pressure pumpers continue to see utilization rates rise for equipment while trying to keep up with the demand of hiring new crews. Operators hold plans steady during the quarter with some reducing CAPEX plans for the year due to lower than expected commodity prices. DUC count rises due to increased rig activity in the first half of the year as operators put a focus on drawing down inventory. Drillers continue to push for rig automation to reduce boots...

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Sanchez Energy (NYSE: SN) Expects to Double Production in 2017

Sanchez Energy Corporation (NYSE: SN) had a blockbuster 2016, partnering with Blackstone the companies acquired Anadarko’s acreage in the Eagle Ford which is expected to close in the first quarter of 2017. This acquisition adds 132 DUCs, 3,400 drilling locations and 67,000 net Boe per day. The company optimized its well design in Catarina decreasing drilling and completion costs which are currently around $3 million per well.     In 2017, the company is expecting to spend $425 to $475 million and increasing...

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Anadarko Divests in 2016 to Accelerate Activity in the Delaware and DJ Basins

On January 31, 2017, Anadarko Petroleum Corporation (NYSE: APC) announced its Q4 earnings as well as its full-year results for 2016. In 2016 Anadarko improved cost structure and advanced efficiency initiatives, resulting in a 50% reduction in capital investments relative to 2015.Specific highlights of 2016 cited in the announcement included the following: Value-Accretive Monetizations In Q4 Anadarko signed agreements to divest assets in the Marcellus Shale ($1.24 billion) and the Eagle Ford Shale ($2.3 billion). Both transactions are expected to close by the...

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E&P Earning Season Ends with DUCs, Bankruptcy, & Divesting Themes

Taking a look back at the first quarter we will review some updates from operators around the country and how they have held up into 2016 and are preparing for the rest of the year. Many have increase production guidance showing that they can still produce with declining capital budgets and others are looking to asset sales to gain liquidity. Below are some highlights from the quarter. Devon Energy Increases Production Guidance During the first quarter Devon Energy (NYSE: DVN) spent $363...

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Reeves County: Permitting Cut in Half & Completions Continue to Fall

Activity has migrated into the Permian due to some of the lowest breakeven points in the industry but that doesn’t mean new drilling activity has held up. Reeves county has taken a hit with lower well completion activity, too, in this sub $50 commodity environment. Even with reported breakeven prices around $35 per barrel, operators continue to release rigs.Since the start of 2016 it has had 13 completions from operators like EOG Resources (NYSE: EOG), Pioneer Natural Resources (NYSE: PXD) and Apache (NYSE: APA), down...

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Wyoming Completion Activity Decreases ~70% from One Year Ago but Permitting Continues

The majority of activity in Wyoming has come from the Powder River and Pinedale Basins but most recently Pinedale has seen the majority of activity. Permit activity spiked in the beginning of 2015 peaking in May at 691. Permit activity has increased 19% from February 2015 to February 2016 and has dropped -16% in March from February which had 503 permits.61% of Activity in Wyoming Concentrated in Sublette County  In the past 6-months activity has been concentrated in the Pinedale basin...

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