Topic: Antero Resources

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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The Proppant Demand Dichotomy in Appalachia Super Laterals

While the Appalachia Basin only accounts for roughly 15% of total proppant usage in the Lower 48, the US Northeast has some of the highest proppant amounts per well. In 1Q18 a typical completion in the Appalachia Basin averaged roughly 16 million pounds, or 8,000 tons, representing a 7% increase year-over-year. Comparatively, the US average is roughly 13 million pounds or 6500 tons. This is partially attributable to specific operators in the region testing longer “super laterals.” Figure 1. Proppant Amount and...

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7 E&Ps Fighting Through 2015 Low Commodity Prices

As third quarter earnings season starts we take a look at where some operators are in their drilling and completion programs and begin to get a peak at 2016 expectations. Check back for updates as operators and oilfield service companies update their positions in the current environment.  Antero Resources Expects 25% Production Growth Antero Resources (NYSE: AR) continues to cover production with 94% covered for the 2015 year and looking ahead to 2016 they expect 25% to 30% production growth having 1,793...

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Rig Count Trends for 2015

As the Baker Hughes (NYSE: BHI) rig count continues its downward trend from the end of 2014, we look forward to the activity in 2015. Many operators are continuing to prepare for the worst in 2015 and many are front-loading activity to the first quarter of 2015 and dropping rig counts lower as the year progresses if oil prices don’t improve. Eagle Ford According to the BHI historical rig count, activity has declined 32% from the start of 2015, bringing the count...

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Land Rigs down to 800 by Summer?

The Baker Hughes US Land Rig Count declined to 1,058 down -5.6% this week. WTI fluctuated today hovering around $45 per barrel. Here's a summary chart for the past week:Summary of Shale Play Rig CountsPermian Basin -6.6% to 311 rigs compared to last week’s 333 rigs Eagle Ford -2.0% to 146 rigs compared to 149 the prior week Williston Basin -3.7% to 104 from last week’s 108 rigs Marcellus +1.6% to 63 from the previous week's 62 rigs Mississippian -4.5% to 42 from last week's 44 rigs DJ-Niobrara -5.9% to 32...

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$22 Billion Cut from 2015 E&P Budgets

There has been a lot of activity within E&P operators' budgets for 2015 in the face of low oil prices in the market. So far, about $22 billion has been cut from initial 2015 budgets, with more updates on the way. Continental Reduces Bakken Spend by $1 Billion Continental Resources (NYSE: CLR) has been chipping away at their budget. Their initial $4.6 billion budget for 2015 has been revised -41.3% to $2.7 billion. This revision shows a reversal in their strategy as they had originally announced a 1.1% increase...

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