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Stock Market & Financial Investment News

News Breaks
March 5, 2014
04:55 EDTAREX, AREX, ROSE, ROSE, PVA, PVA, NOG, NOG, KOG, KOG, GDP, GDP, EQT, EQT, EOG, EOG, CHK, CHK, WLL, WLLWells Fargo to hold a forum
5th Annual Exploration & Production 1:1 Forum is being held in Boston on March 6.
News For AREX;CHK;EOG;EQT;GDP;KOG;NOG;PVA;ROSE;WLL From The Last 14 Days
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December 10, 2014
10:00 EDTEQTOn The Fly: Analyst Upgrade Summary
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09:23 EDTGDPOn The Fly: Pre-market Movers
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08:01 EDTGDPCapital One to hold a conference
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07:22 EDTEQTEQT Corporation upgraded to Buy from Accumulate at KLR Group
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06:09 EDTGDPGoodrich Petroleum provides operational update
Goodrich Petroleum reports in the Tuscaloosa Marine Shale, or TMS, the company announced the completion of two additional wells in its Blades area of Tangipahoa Parish, Louisiana. The Verberne 5H-1 well, which was drilled and completed with an approximate lateral length of 6,600 feet and was fracked with 21 stages, has been producing on a restricted choke program and has achieved a peak 24-hour rate to date of 1,375 Boe per day, comprised of 1,335 barrels of oil and 250 Mcf of natural gas per day on a 14/64 inch choke. The Williams 46H-1 well, which was drilled with an approximate lateral length of 6,400 feet and was fracked with 20 stages, is in early flowback and is currently producing approximately 1,000 Boe per day, but has not achieved peak rate. An update on this well will be provided at a later date. The company is in completion phase on its Kent 41H-1 well, which was drilled with an approximate 6,000 foot lateral in 27 days at one of the lowest drilling cost to date. On the company's initial two-well pad, the CMR/Foster Creek 8H-1 has been drilled and the CMR/Foster Creek 8H-2 well is drilling in the lateral. By achieving drill times of 25 – 30 days, as achieved by several industry-wide wells including our most recent Kent 41H-1 well, coupled with the recently modified frac design as utilized on the Verberne 5H-1 and Williams 46H-1 wells, the company believes it can achieve cost savings in excess of $1.5 million for a single well pad prior to any reduction in service costs or savings associated with drilling off of multi-well pads. Substantial cost savings combined with the company's strong 2015 hedge position, and the inherent advantages of the TMS, which include premium LLS pricing, lower average royalty burden and severance tax relief, allow for the continued economic development of the play in 2015.
06:06 EDTGDPGoodrich Petroleum to explore strategic alternatives for Eagle Ford Shale asset
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December 9, 2014
07:41 EDTGDPGoodrich Petroleum liquidity concerns overblown, says SunTrust
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07:01 EDTEOGEOG Resources coverage resumed with a Hold at Stifel
06:10 EDTGDPGoodrich Petroleum implied volatility of 205 at upper end of index mean range
December 8, 2014
18:37 EDTEOGEOG Resources divests majority of Canadian assets
EOG Resources announced the divestiture of all its assets in Manitoba and certain assets in Alberta in two separate transactions that closed on November 28 and December 1. Approximate proceeds from the divestitures were US$410M, net of customary transaction adjustments. As a result of these transactions, approximately US$150M of restricted cash related to future abandonment liabilities was released. The proceeds and cash will be utilized for general corporate purposes. Current forecast production from the divested assets is approximately 7,050 barrels of crude oil per day, 580 barrels of natural gas liquids per day and 43.5M cubic feet of natural gas per day. Net proved reserves divested are estimated to be 7.7M barrels of oil, 0.8M barrels of NGLs and 78.7B cubic feet of natural gas. EOG divested 1.3M gross acres, 97% of which were in Alberta. Of the approximate 5,800 producing wells sold, 5,255 were natural gas. EOG has retained approximately 382,200 gross acres in Alberta, British Columbia and Saskatchewan. EOG will maintain an operations office in Alberta
16:21 EDTNOGTRT Holdings reports 9.98% stake in Northern Oil and Gas
It is anticipated that TRT Holdings may, from time to time, have discussions with management and the Board of Directors of the company.
10:00 EDTAREXOn The Fly: Analyst Downgrade Summary
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09:34 EDTGDPGoodrich Petroleum downgraded to Market Perform from Outperform at BMO Capital
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08:16 EDTAREXApproach Resources downgraded to Underperform at BMO Capital
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07:40 EDTNOG, WLLMany E&P target prices lowered at SunTrust
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07:31 EDTEQTEQT Corporation plans registration statement for EQT Midstream Partners
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07:08 EDTEQTEQT Midstream Partners sees 2015 adjusted EBITDA $330M-$345M
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07:06 EDTEQTEQT Corporation sees 2015 sales volume 575 – 600 Bcfe
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07:04 EDTEQTEQT Corporation sees 2015 capital expenditures $2.5B
EQT Corporation (EQT) announced the company’s 2015 capital expenditure forecast of $2.5B, excluding business development and land acquisitions. The CAPEX forecast includes $2.3B for EQT Production and $225M-$250M for EQT Midstream depending on the timing of an expected drop-down. Funding will be provided by cash generated from operations, cash-on-hand, and proceeds from midstream asset sales to EQT Midstream Partners, LP (EQM). EQT’s 2015 CAPEX forecast excludes CAPEX for EQT Midstream Partners, LP, a master limited partnership controlled by EQT Corporation and consolidated in EQT’s financial statements.
07:03 EDTWLL, KOGWhiting Petroleum completes acquisition of Kodiak Oil & Gas
Whiting Petroleum Corporation (WLL) announced that it has completed its previously announced acquisition of Kodiak Oil & Gas Corp (KOG). The closing of the transaction follows the issuance of a final order by the Supreme Court of British Columbia approving the Arrangement on December 5, 2014. The all-stock transaction was previously approved by Whiting stockholders and Kodiak securityholders at special meetings held on December 3, 2014. The transaction enhances Whiting’s leading oil-weighted platform and is expected to drive production, reserve growth and operational efficiencies. Based on the closing price of Whiting stock on December 5, 2014, the combined company has a market capitalization of approximately $6.2B. As a result of the completion of the merger, the common stock of Kodiak Oil & Gas Corp. is no longer listed for trading on the New York Stock Exchange. Pursuant to the terms of the Arrangement, each share of common stock of Kodiak Oil & Gas Corp. will be exchanged for 0.177 of a share of Whiting common stock.
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