Workover

Gran Tierra Energy Inc. Announces Appointment of Chief Operating Officer

Retrieved on: 
Tuesday, October 31, 2023
Workover, NYSE, GTE, Exploration, Gulf of Mexico, Geology, University, Imperial Oil, Geological engineering, LSE, TSX, Esso, ExxonMobil, Management, Gran Tierra Energy, Operation

CALGARY, Alberta, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (NYSE American:GTE)(TSX:GTE)(LSE:GTE) is pleased to announce the appointment of Mr. Sebastien Morin as Chief Operating Officer (“COO”).

Key Points: 
  • CALGARY, Alberta, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (NYSE American:GTE)(TSX:GTE)(LSE:GTE) is pleased to announce the appointment of Mr. Sebastien Morin as Chief Operating Officer (“COO”).
  • Mr. Morin will be joining Gran Tierra as COO, located in Calgary and will report to Gary Guidry, President and Chief Executive Officer.
  • Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: "We are very pleased to welcome Sebastien back to Gran Tierra in the new position of COO.
  • Sebastien was integral in Gran Tierra becoming best in class in its drilling, operations, and execution of capital programs.

Murphy Oil Corporation Announces Third Quarter 2023 Financial and Operating Results, Advances Capital Allocation Framework, Increases Share Repurchase Authorization, Raises Full Year 2023 Production Guidance

Retrieved on: 
Thursday, November 2, 2023
Oil, Gas, Energy, Duvernay, NCI, NYSE, Workover, Terra Nova, Tax, EDT, MP, National Oil Corporation, Paon DP, Public expenditure, EBITDA, CAPEX, Telephone, Share repurchase, News, GAAP, Acquisition, CALL, Internet, Natural gas, Commercial mortgage, Senior, Murphy Oil, Eagle Ford Group, Borrowing base, Depreciation, AECO, MUR, Oso, Calendar, Cryptocurrency, Management, Bookkeeping, Bank, Petroleum, Gulf of Mexico, Murphy

Third quarter production averaged 202 MBOEPD and consisted of 51 percent oil volumes, or 103 MBOPD.

Key Points: 
  • Third quarter production averaged 202 MBOEPD and consisted of 51 percent oil volumes, or 103 MBOPD.
  • During the third quarter, Murphy repurchased $75 million, or 1.7 million shares outstanding, at an average price of $44.53 per share.
  • Subsequent to the quarter, the share repurchase authorization was increased by $300 million, and Murphy now has $525 million remaining.
  • As previously disclosed, the capital allocation framework defines Murphy 1.0 as when long-term debt exceeds $1.8 billion.

DESERT MOUNTAIN ENERGY PROVIDES PROGRESS REPORT ON WEST PECOS SLOPE ABO PROJECT IN NEW MEXICO

Retrieved on: 
Thursday, October 26, 2023
Pressure, DME, PUD, Workover, Acquisition, Maintenance, Research, Helium, Hydrology, The Company, CO2, Natural gas, United States national laboratories

VANCOUVER, BC, Oct. 26, 2023 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (U.S. OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.

Key Points: 
  • VANCOUVER, BC, Oct. 26, 2023 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (U.S. OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.
  • The Company is pleased to confirm the delivery of all necessary components for the West Pecos helium processing plant.
  • The company, as previously communicated, has been focused on pigging flow lines, eliminating specific choke points, and conducting flow line maintenance.
  • Work on the gas lines and on 12 specific wells has resulted in significant increases in gas flow.

W&T Offshore Announces First Quarter 2023 Results

Retrieved on: 
Tuesday, May 9, 2023
Federal Reserve Bank, Maintenance, LOE, Capital expenditure, Table, Senior, Energy Independence and Security Act of 2007, Safety, Bureau, Audit committee, Income tax, G&A, GAAP, NGL, Balance sheet, Transport, Risk, Sale, Workover, Cost, TTM, EBITDA, Production, State Administrative Expenses, White Noise: A Cautionary Musical, Depreciation, Front-end engineering, Natural gas, Debt, Biophysical environment, Holy Grail, Adjustment, GOM, Bureau of Ocean Energy Management, NYSE, Garden Banks Pipeline, Bank, Security (finance), Bookkeeping, Cryptocurrency, Airline, Video game, Arms industry, Magnolia Field, Mobile Bay, Gulf of Mexico

HOUSTON, May 09, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today reported operational and financial results for the first quarter of 2023.

Key Points: 
  • HOUSTON, May 09, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today reported operational and financial results for the first quarter of 2023.
  • Interest Expense: Net interest expense in the first quarter of 2023 was $14.7 million compared to $14.5 million in the fourth quarter of 2022 and $19.9 million in the first quarter of 2022.
  • During the first quarter of 2023, the Company performed one recompletion and four workovers that positively impacted production for the quarter.
  • The guidance for the second quarter and full year 2023 in the table below represents the Company’s current expectations.

Ring Energy Provides Operational Update, Revised Fourth Quarter Guidance & Initial Outlook for 2023

Retrieved on: 
Thursday, October 13, 2022
Permian, REI, Energy Independence and Security Act of 2007, SEC, Natural gas, WTI, CBP, Workover, LLC, Completeness, NYSE, Securities Exchange Act of 1934, Fortification, Hertz, Program, Securities Act of 1933, CTR, Form 10-K, Company, Acquisition, NWS, Board, Henry Hub, GLOBE, Public expenditure, Forward-looking statement, Ownership, Medical device, Potash, Oil, Bank

THE WOODLANDS, Texas, Oct. 13, 2022 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (Ring or the Company) today provided an operational update for the third quarter and full year 2022, revised guidance for the fourth quarter of 2022, and an initial outlook for the 2023 full year that reflects the previously announced completion of its acquisition (the Transaction) of the assets of privately held Stronghold Energy II Operating, LLC and Stronghold Energy II Royalties, LP (collectively, Stronghold).

Key Points: 
  • THE WOODLANDS, Texas, Oct. 13, 2022 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (Ring or the Company) today provided an operational update for the third quarter and full year 2022, revised guidance for the fourth quarter of 2022, and an initial outlook for the 2023 full year that reflects the previously announced completion of its acquisition (the Transaction) of the assets of privately held Stronghold Energy II Operating, LLC and Stronghold Energy II Royalties, LP (collectively, Stronghold).
  • Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, In advance of reporting our full operational and financial performance for the third quarter next month, we wanted to update our shareholders on our operational highlights and provide revised fourth quarter 2022 guidance and a preliminary outlook for 2023.
  • Combined with our continued focus on promoting operating efficiencies throughout the business, the results of our program have met or exceeded expectations.
  • Our improved capital efficiency is reflective in our fourth quarter guidance in which we decreased our capital spending expectations from when we announced the acquisition but have maintained our prior outlook for fourth quarter sales volumes.

Acquisition of 100% of Kentucky Exploration Leases

Retrieved on: 
Friday, November 19, 2021
Section, Review, Federal Lands Jobs and Energy Security Act, Time, Acquisition, Company, ASX, Bujagali Energy Limited, Goal, Securities Exchange Act of 1934, View, LLC, Work, Board, OTC, Workover, Maintenance, AXP, Multimedia, Illinois Basin, Securities Act of 1933, Oil

AXP formed a Joint Venture with Newtak in 2010 to acquire and operate the leases with revenue being equally shared after costs and royalty payments.

Key Points: 
  • AXP formed a Joint Venture with Newtak in 2010 to acquire and operate the leases with revenue being equally shared after costs and royalty payments.
  • Kentucky Exploration, LLC holds extensive acreage in the Illinois Basin covering a portfolio of 44 conventional oil wells which currently deliver only modest daily production, as they have not been a focus for AXP.
  • As well, the Dacy Lease (part of Kentucky Exploration) has been earmarked as a priority target for drilling new low-cost vertical wells to be undertaken by AXP's recently formed drilling division.
  • AXP's Chief Executive Officer Tim Hart said: "The Kentucky Exploration leases are proven oil producing fields and we have identified some compelling low-cost conventional targets.

Allied Energy Corporation Provides Workover Progress Report On Well M1 At Their Green Lease Oil Site

Retrieved on: 
Wednesday, July 7, 2021
Petroleum production, Workover

I am pleased with the time we've made up on the Green Lease after battling heavy rains in northern Texas for several weeks.

Key Points: 
  • I am pleased with the time we've made up on the Green Lease after battling heavy rains in northern Texas for several weeks.
  • The entire crew is well-aware of surging oil prices and all of us are incentivized to bring wells online and producing this month."
  • Beginning in the third week of June, Allied brought a workover rig to Well M1 at the Green Lease site.
  • About AGYP: Allied Energy Corp. is an energy development and production company acquiring oil & gas reserves in some of the most prolific hydrocarbon bearing regions of the United States.

Canacol Energy Ltd. Provides Operations Update

Retrieved on: 
Wednesday, May 19, 2021
Petroleum production, Workover, Natural gas, Fuels, Petroleum industry

b'CALGARY, Alberta, May 19, 2021 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) provides the following information concerning its operations in Colombia.\nDespite the civil disturbances occurring in Colombia related to the national strike, Canacol\'s gas sales and drilling operations remain uninterrupted.

Key Points: 
  • b'CALGARY, Alberta, May 19, 2021 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) provides the following information concerning its operations in Colombia.\nDespite the civil disturbances occurring in Colombia related to the national strike, Canacol\'s gas sales and drilling operations remain uninterrupted.
  • Given that Canacol\'s gas sales are delivered via pipeline, the transportation and delivery of gas to its clients has been uninterrupted.
  • As recently announced by other oil focused Colombian producers, the blockades have been disruptive to transportation of crude oil, drilling and workover equipment, and personnel.
  • The Corporation\xe2\x80\x99s operations, which are located in the Lower Magdalena basin where there are few blockades, have not been adversely affected.\nCanacol is a natural gas exploration and production company with operations focused in Colombia.

Ring Energy Provides Operational and Financial Update and Initial 2021 Plans & Guidance in Line With New Strategic Vision

Retrieved on: 
Monday, February 22, 2021
Oil, Gas, Energy, Finance, Workover, New York Stock Exchange

Ring Energy, Inc. (NYSE American: REI) (Ring or the Company) today provided an update on its fourth quarter 2020 operational and financial results and announced initial plans and guidance for 2021.

Key Points: 
  • Ring Energy, Inc. (NYSE American: REI) (Ring or the Company) today provided an update on its fourth quarter 2020 operational and financial results and announced initial plans and guidance for 2021.
  • Ring also provided additional details regarding its new strategic vision focused on continued free cash flow generation, capital discipline, cost reductions and debt reduction.
  • With solid operational and financial results, we enter 2021 well positioned financially to continue to pay down debt and execute our high return development drilling and workover projects.
  • I am very proud of all that we have accomplished and the strategic vision that we are implementing.

Worldwide Hydraulic Workover Unit Industry to 2027 - Strategic Recommendations for New Entrants

Retrieved on: 
Thursday, January 14, 2021
Oil wells, Petroleum production, Workover, Snubbing, Science and technology, Inventions, Technology

DUBLIN, Jan. 14, 2021 /PRNewswire/ -- The "Hydraulic Workover Unit - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • DUBLIN, Jan. 14, 2021 /PRNewswire/ -- The "Hydraulic Workover Unit - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
  • According to this report, the Global Hydraulic Workover Unit market accounted for $9.99 billion in 2019 and is expected to reach $15.80 billion by 2027 growing at a CAGR of 5.9% during the forecast period.
  • Hydraulic workover unit is used as a substitute to workover rigs & conventional drilling.
  • Based on the services, the workover segment is going to have lucrative growth during the forecast period due to the highest growing segment in the hydraulic workover unit market.