Barrel of oil equivalent

Prairie Operating Announces Acquisition of Producing E&P Assets

Retrieved on: 
Thursday, January 11, 2024
Barrel of oil equivalent, Environment, Acquisition

HOUSTON, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP; the “Company” or “Prairie”) today announced it has entered into a definitive agreement to acquire the assets of Nickel Road Operating LLC (“NRO”) for a total consideration of $94.5 million, subject to certain closing price adjustments and other customary closing conditions.

Key Points: 
  • HOUSTON, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Prairie Operating Co. (Nasdaq: PROP; the “Company” or “Prairie”) today announced it has entered into a definitive agreement to acquire the assets of Nickel Road Operating LLC (“NRO”) for a total consideration of $94.5 million, subject to certain closing price adjustments and other customary closing conditions.
  • The acquisition is expected to be accretive to Prairie’s shareholders across key financial metrics including production, reserves, and free cash flow.
  • Furthermore, the addition of NRO’s assets strategically expands Prairie’s core operating area, increases inventory of high rate-of-return drilling locations, and provides additional flexibility to the 2024 drill schedule.
  • NRO’s assets and operations are located near Prairie’s existing DJ Basin operations in largely rural Weld County, Colorado.

Earthstone Announces Closing of the Novo Acquisition

Retrieved on: 
Tuesday, August 15, 2023
Permian, Barrel of oil equivalent, NYSE, Acquisition, Novo, Egyptian Natural Gas Holding Company, Cryptocurrency, Delaware Basin

THE WOODLANDS, Texas, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”), today announced the closing of the acquisition of the northern Delaware Basin assets of Novo Oil & Gas Holdings, LLC (“Novo”).

Key Points: 
  • THE WOODLANDS, Texas, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”), today announced the closing of the acquisition of the northern Delaware Basin assets of Novo Oil & Gas Holdings, LLC (“Novo”).
  • Robert J. Anderson, President and Chief Executive Officer of Earthstone, stated, “We are excited to incorporate Novo’s assets into Earthstone’s premier northern Delaware position.
  • In February of 2022, we acquired the assets of Chisholm and then added to that position with the acquisition of Titus last August.
  • Novo will add over 200 high-return, de-risked low breakeven drilling locations, deepening our inventory and increasing our inventory life to 13 years.

Earthstone Energy, Inc. Reports 2023 Second Quarter and Year-to-Date Financial Results

Retrieved on: 
Wednesday, August 2, 2023
Net, Common stock, Chisholm, Contracting Officer's Technical Representative, Capital expenditure, Barrel of oil equivalent, Barnhart, GAAP, Barrel, Mid-State Regional Airport, Public expenditure, Acquisition, Novo, Net income, Second Bone War, Adjustment, NYSE, Rare-earth element, Real estate, Fine chemical, Silviculture, Tutoring, Delaware Basin

THE WOODLANDS, Texas, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we”, “our” or “us”), today announced financial and operating results for the three and six months ended June 30, 2023.

Key Points: 
  • THE WOODLANDS, Texas, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we”, “our” or “us”), today announced financial and operating results for the three and six months ended June 30, 2023.
  • Our low decline, stable production base, and strong new well results drove our production outperformance for the quarter.
  • The execution of our disciplined operating plan and the strength of our operational performance translated directly into strong financial performance for the quarter.
  • In the Delaware Basin, during the second quarter of 2023, we commenced drilling 12 gross (9.7 net) wells and brought 13 gross (9.5 net) wells online.

Earthstone Energy Announces $1.0 Billion Delaware Basin Acquisition

Retrieved on: 
Thursday, June 15, 2023
Permian, Agreement, EnCap, Vinson & Elkins, Kirkland & Ellis, NOG, Sale, Public expenditure, NTM, Security (finance), Egyptian Natural Gas Holding Company, Hand, NYSE, EnCap Investments, Credit, Bank, Oil, Warehouse, Barrel of oil equivalent, Delaware Basin

In conjunction with the Novo Acquisition, Earthstone has secured $250 million of incremental commitments from existing lenders.

Key Points: 
  • In conjunction with the Novo Acquisition, Earthstone has secured $250 million of incremental commitments from existing lenders.
  • In 2022, we materially advanced our consolidation strategy, closing three accretive acquisitions totaling ~$2.0 billion, including two significant northern Delaware Basin asset acquisitions.
  • I am pleased that we are continuing to further our consolidation strategy with today’s announcement of the Novo Acquisition as we further build our northern Delaware Basin asset base.
  • The net result will be Earthstone having four rigs operating in the Delaware Basin and one in the Midland Basin post-closing.

Earthstone Energy, Inc. Reports 2023 First Quarter Financial Results

Retrieved on: 
Wednesday, May 3, 2023
Dark, Net, Common stock, Titus, 2020 United States House of Representatives elections in New Mexico, WTG, Barrel of oil equivalent, Wells, GAAP, Acquisition, Dark Canyon Wilderness, Net income, Second Bone War, DUC, NYSE, Jade, Cryptocurrency, Bank, Delaware Basin

THE WOODLANDS, Texas, May 03, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we”, “our” or “us”), today announced financial and operating results for the three months ended March 31, 2023.

Key Points: 
  • THE WOODLANDS, Texas, May 03, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we”, “our” or “us”), today announced financial and operating results for the three months ended March 31, 2023.
  • Robert J. Anderson, President and Chief Executive Officer of Earthstone, stated, “We are off to a great start in 2023 as our first quarter results reflected both strong operational and financial performance.
  • In the Delaware Basin, during the first quarter of 2023, Earthstone commenced drilling ten gross (8.4 net) wells, brought six gross (3.8 net) wells online, and had six gross (5.2 net) drilled but uncompleted (“DUC”) wells at quarter end.
  • During the first quarter of 2023, the Company began drilling six gross (3.9 net) wells, brought nine gross (nine net) wells online, and had two gross (1.3 net) DUC wells at quarter end.

Earthstone Energy, Inc. Reports 2022 Fourth Quarter and Full Year Results

Retrieved on: 
Wednesday, March 8, 2023
Permian, Representative office, NYSE, Growth, Barrel of oil equivalent, Free cash flow, Net, Common stock, Net income, GAAP, Self storage, Bank

THE WOODLANDS, Texas, March 08, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we” or “us”), today announced financial and operating results for the quarter and year ended December 31, 2022.

Key Points: 
  • THE WOODLANDS, Texas, March 08, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we” or “us”), today announced financial and operating results for the quarter and year ended December 31, 2022.
  • All shares of our Class B Common Stock issued and outstanding are held by the noncontrolling interest group.
  • Robert J. Anderson, President and Chief Executive Officer of Earthstone stated, “During the fourth quarter and throughout the year, our team has performed exceptionally well and set new Company records.
  • For the full year, we delivered record production levels, Adjusted EBITDAX, and generated over $500 million of Free Cash Flow.

Earthstone Provides Operational and Financial Update, 2023 Guidance and Proved Reserves

Retrieved on: 
Thursday, February 16, 2023
Lonesome Dove, PD, NYSE, Reagan County, Texas, Second Bone War, Cowboy, Barrel of oil equivalent, Delaware Basin, Cryptocurrency, Video game, Oil, Potash

THE WOODLANDS, Texas, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “our” or “we”) today provided an operational and financial update, released 2023 guidance, and announced its year-end 2022 estimated proved reserves.

Key Points: 
  • THE WOODLANDS, Texas, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “our” or “we”) today provided an operational and financial update, released 2023 guidance, and announced its year-end 2022 estimated proved reserves.
  • 2022 was a significant and transformational year marked by the closing of more than $2.0 billion in acquisitions and production that exceeded 104,000 Boepd in the fourth quarter.
  • We also significantly increased SEC proved reserves by more than 149% during the year and are reporting record reserves and value that reflect the quality and depth of our inventory which currently stands at more than ten years.
  • The Lonesome Dove two-well pad, in which Earthstone holds a 90% working interest, is targeting the First and Second Bone Spring zones.

WHITECAP RESOURCES INC. CLOSES DISPOSITIONS AND ANNOUNCES FOURTH QUARTER AND YEAR END 2022 RESULTS CONFERENCE CALL / WEBCAST

Retrieved on: 
Monday, February 6, 2023
Bank statement, Public expenditure, Production, AECO, Share repurchase, Epidemic, Natural gas, Pandemic, Ethane, TSX, Legislation, Transport, National instrument, Safety, SEDAR, Disclosure, Health, Risk, AB, Failure, Atlas, Policy, Marketing, Growth, Barrel of oil equivalent, Specified complexity, Light, COVID-19, WCP, Propane, Cryptocurrency, Bank, Security (finance), Oil, Whitecaps

The remaining 25% of free funds flow will be used to continue to reduce debt and strengthen our balance sheet.

Key Points: 
  • The remaining 25% of free funds flow will be used to continue to reduce debt and strengthen our balance sheet.
  • We will be releasing our fourth quarter and year end 2022 results after market close on Wednesday, February 22, 2023 and have scheduled a conference call and webcast to begin promptly at 9:00 am MT (11:00 am ET) on Thursday, February 23, 2023.
  • The conference call dial-in number is:  1-888-390-0605 or (587) 880-2175 or (416) 764-8609
    A live audio webcast of the conference call will be accessible on Whitecap's website at www.wcap.ca by selecting "Investors", then "Presentations & Events".
  • The actual results of operations of Whitecap and the resulting financial results will likely vary from the amounts set forth herein and such variation may be material.

WHITECAP RESOURCES INC. ANNOUNCES 2023 CAPITAL BUDGET FOCUSED ON SHAREHOLDER RETURNS

Retrieved on: 
Tuesday, September 27, 2022
Carbon, Glauconite, CO2, Safety, Federal, WTI, Montney, British Columbia, Policy, Legislation, EBITDA, Quality Wines Produced in Specified Regions, Director, Achievement, Industry, Investment, EOR, Weyburn, Time, COVID-19, Company, Acquisition, Growth, New energy, ERH, Pandemic, Public expenditure, Production, Propane, Transport, WCP, Failure, Risk, TC Energy, Barrel of oil equivalent, Intention, Share repurchase, Atlas, Board of directors, Board, AB, Marketing, SEDAR, National instrument, Disclosure, Light, Health, TSX, Epidemic, Wells, XTO, Natural gas, Ethane, Oil, Bank, Public utility, Security (finance), Risk management, Whitecaps, Central Alberta, AECO

CALGARY, AB, Sept. 27, 2022 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce its 2023 capital investment budget of $900 - $950 million and average production guidance of 170,000 172,000 boe/d1 (64% liquids), resulting in significant free funds flow for elevated shareholder returns in 2023.

Key Points: 
  • CALGARY, AB, Sept. 27, 2022 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce its 2023 capital investment budget of $900 - $950 million and average production guidance of 170,000 172,000 boe/d1 (64% liquids), resulting in significant free funds flow for elevated shareholder returns in 2023.
  • The 2023 budget has average production at the mid-point and capital investment at the low end of our preliminary guidance which is expected to result in increased free funds flow and returns to shareholders.
  • Highlights of the 2023 budget include:
    Significant Free Funds Flow.
  • Our 2023 budget takes a balanced approach to near-term free funds flow generation and increasing returns to shareholders along with the continued focus on maximizing profitability and shareholder returns over the long term.

Prospera and Aduro Enter into LOI to Collaborate on Pilot Plant for Partial Upgrading of Bitumen

Retrieved on: 
Tuesday, September 13, 2022
ACT, Carbon, Acceleration, TSX, Efficiency, FSE, Chemistry, Oil, Economics, Solarmer Energy, Inc., LOI, OTC, CSE, Technology, Oportunidades, Â, Carbon footprint, API, Plastic, Water, GLOBE, PEI, Tax, FRA, Barrel of oil equivalent

PEIs primary objectives are to improve profit margin through increased production levels and reduced operating expense while regulatory and environmentally complaint.

Key Points: 
  • PEIs primary objectives are to improve profit margin through increased production levels and reduced operating expense while regulatory and environmentally complaint.
  • In addition, PEI ESG initiatives are to incorporate innovative technologies to reduce carbon emission, increase carbon capture, and technologies to improve margin.
  • On September 7, Aduro announced that its scaled-up continuous flow bitumen reactor is nearing completion and readiness for customer trials and engagement acceleration.
  • After completion of phase three, Aduro and Prospera will define a roadmap to commissioning a 3,000 bbl/day commercial facility.