D&C

Permian Resources Announces Strong Fourth Quarter 2023 Results and Provides Highly Capital Efficient Full Year 2024 Plan

Retrieved on: 
Tuesday, February 27, 2024
Energy, Other Energy, Oil, Gas, Permian, Acquisition, Weather, GP, Annual report, Interest, Natural gas, Growth, D&C, Foot, Resource, Conference, PR, LOE, Public expenditure, Security (finance), Hand, G&A, Appendix, Bank statement

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its fourth quarter and full year 2023 financial and operational results and 2024 operational plans.

Key Points: 
  • Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its fourth quarter and full year 2023 financial and operational results and 2024 operational plans.
  • “During the fourth quarter, Permian Resources reported another strong quarter of production outperformance and operational improvements in the midst of closing the Earthstone acquisition.
  • With a focus on capital returns, Permian Resources’ 2024 operational budget delivers a highly capital efficient plan that maximizes free cash flow and value for its investors.
  • Permian Resources will host an investor conference call on Wednesday, February 28, 2024 at 8:00 a.m. Central (9:00 a.m. Eastern) to discuss fourth quarter and full year 2023 operating and financial results.

NOG Provides Fourth Quarter 2023 Operations Update and Preliminary 2024 Guidance

Retrieved on: 
Thursday, February 15, 2024
Energy, Natural Resources, Mining, Minerals, Oil, Gas, Permian, Ground game, Acquisition, NYMEX, Weather, Natural gas, Growth, D&C, Dislocation, Freezing, TILS, Forge, Acceleration, Public expenditure, NOG, Henry Hub, MPDC, Video game

Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced a fourth quarter 2023 operations update, also highlighting elective Ground Game acquisitions, and preliminary 2024 guidance.

Key Points: 
  • Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced a fourth quarter 2023 operations update, also highlighting elective Ground Game acquisitions, and preliminary 2024 guidance.
  • Fourth quarter 2023 production estimated to be 114.4 Mboe per day, resulting in annual production toward the high end of NOG’s guidance range
    Production volumes in the fourth quarter of 2023 are estimated to have averaged 114.4 Mboe per day.
  • Consequently, NOG incurred approximately $50 million of capital in the fourth quarter that was previously planned for 2024.
  • NOG expects first quarter 2024 production volumes to be slightly lower than the fourth quarter of 2023.

Magnolia Oil & Gas Corporation Announces 2023 Fourth Quarter and Year End Results

Retrieved on: 
Wednesday, February 14, 2024
Oil, Gas, Energy, Well, Acquisition, Quarter, Weather, Annual report, Class, Interest, Share repurchase, Common stock, D&C, Retirement, Growth, Common, GAAP, Webcast, Public expenditure, Bank statement, Environment

Net cash provided by operating activities was $246.9 million during the fourth quarter of 2023 and $855.8 million during full year 2023.

Key Points: 
  • Net cash provided by operating activities was $246.9 million during the fourth quarter of 2023 and $855.8 million during full year 2023.
  • The Company generated free cash flow(1) of $131.3 million during the fourth quarter of 2023 and $412.9 million during full year 2023.
  • In the fourth quarter of 2023, production at Giddings and Other grew 46% compared to the prior year fourth quarter to 63.0 Mboe/d including oil production growth of 48%.
  • Magnolia repurchased 2.5 million Class A Common shares during the fourth quarter for $54.2 million.

Magnolia Oil & Gas Corporation Announces Third Quarter 2023 Results

Retrieved on: 
Wednesday, November 1, 2023
Other Natural Resources, Other Energy, Mining, Minerals, Oil, Gas, Energy, Natural Resources, Austin Chalk, Eagle Ford, Dallas, Share repurchase, GAAP, Acquisition, Bank statement, D&C, Common stock, Eagle Ford Group, Growth, Common, Interest, Webcast, Class, Karnes, Video game, Rare-earth element, Car rental, Bank, Fine chemical, Risk management, Cryptocurrency

Magnolia reported third quarter 2023 net income attributable to Class A Common Stock of $102.0 million, or $0.54 per diluted share.

Key Points: 
  • Magnolia reported third quarter 2023 net income attributable to Class A Common Stock of $102.0 million, or $0.54 per diluted share.
  • Total production in the third quarter of 2023 grew 1% sequentially to 82.7 thousand barrels of oil equivalent per day (“Mboe/d”).
  • Includes $1.2 million of share repurchases incurred during the third quarter, but settled during the fourth quarter of 2023, and excludes $1.1 million of share repurchases incurred during the second quarter, but settled during the third quarter of 2023.
  • Magnolia will host an investor conference call on Thursday, November 2, 2023 at 10:00 a.m. Central (11:00 a.m. Eastern) to discuss these operating and financial results.

NOG Provides Preliminary Financial and Operational Updates for the Third Quarter of 2023

Retrieved on: 
Wednesday, October 25, 2023
Oil, Gas, Natural Resources, Energy, Mining, Minerals, Other Energy, Permian, NYSE, NOG, Public expenditure, DD, Acquisition, Ground game, D&C, Novo, Growth, Boe, Natural gas, D, Video game, Coal

Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced an update on Ground Game acquisitions and certain other financial and operational items for the third quarter of 2023.

Key Points: 
  • Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced an update on Ground Game acquisitions and certain other financial and operational items for the third quarter of 2023.
  • The Company closed on eight Ground Game transactions during the third quarter of 2023, concentrated in the Permian Basin.
  • NOG also experienced accelerated well proposal activity in the third quarter, driven by improved commodity prices.
  • The Company turned in-line an estimated 22.6 net wells during the third quarter compared to 13.8 net wells in the second quarter, a 64% sequential increase.

SilverBow Resources Announces Second Quarter 2023 Results

Retrieved on: 
Wednesday, August 2, 2023
Oil, Gas, Energy, Dorado, LOE, Capital expenditure, International, Atlas, Table, D&C, Internet, Line of credit, NGL, Central Time, T&P, EBITDA, Finance Secretary (India), Primary Dealer Credit Facility, Henry Hub, Natural gas, Corporation, Form, WTI, Webcast, Growth, Transport, Adjustment, Credit, News, NYSE, Conference, Reinsurance, Renewable energy, Risk management, Cryptocurrency, Iranian Central Oil Fields Company, D

SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or the “Company”) today announced operating and financial results for the second quarter of 2023.

Key Points: 
  • SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or the “Company”) today announced operating and financial results for the second quarter of 2023.
  • Net oil production for the second quarter of 2023 averaged 12,491 Bbls/d, an increase of 184% compared to the second quarter of 2022.
  • SilverBow reported total oil and gas sales of $126.4 million for the second quarter of 2023.
  • Investors and participants can listen to the call by dialing 1-888-415-4465 (U.S.) or 1-646-960-0140 (International) and requesting SilverBow Resource's Second Quarter 2023 Earnings Conference Call or by visiting the Company's website.

Magnolia Oil & Gas Corporation Announces Second Quarter 2023 Results

Retrieved on: 
Tuesday, August 1, 2023
Oil, Gas, Energy, Common stock, Share repurchase, D&C, Bank statement, Class, GAAP, Securities and Exchange Commission (Nigeria), Interest, Public expenditure, Acquisition, Webcast, Knowledge, Growth, Transport, Karnes, Total, Common, Airline, Video game, Car rental, Bank, Renewable energy, Cryptocurrency

Magnolia reported second quarter 2023 net income attributable to Class A Common Stock of $91.5 million, or $0.48 per diluted share.

Key Points: 
  • Magnolia reported second quarter 2023 net income attributable to Class A Common Stock of $91.5 million, or $0.48 per diluted share.
  • Total production in the second quarter of 2023 grew 10% compared to the prior-year second quarter and 3% sequentially to 81.9 thousand barrels of oil equivalent per day (“Mboe/d”).
  • Includes $1.1 million of share repurchases incurred during the second quarter, but settled during the third quarter of 2023, and excludes $5.4 million of share repurchases incurred during the first quarter, but settled during the second quarter of 2023.
  • Our total oil and gas production for the third quarter is expected to be similar to second quarter levels.

Magnolia Oil & Gas Corporation Announces First Quarter 2023 Results

Retrieved on: 
Wednesday, May 3, 2023
Professional Services, Mining, Minerals, Oil, Gas, Energy, Finance, Natural Resources, Common stock, D&C, Bank statement, Class, Record, GAAP, Securities and Exchange Commission (Nigeria), Interest, Public expenditure, Webcast, Growth, Karnes, Environment, Total, Common, D, Renewable energy, Video game, Car rental, Bank

The reduction in capital is intended to improve our allocated spending in a period where oil service costs are not reflective of lower oil and especially natural gas prices.

Key Points: 
  • The reduction in capital is intended to improve our allocated spending in a period where oil service costs are not reflective of lower oil and especially natural gas prices.
  • Total production in the first quarter of 2023 grew 10% compared to the prior-year first quarter and 8% sequentially to 79.3 thousand barrels of oil equivalent per day (“Mboe/d”).
  • Production at Giddings and Other in the first quarter of 2023 grew 22% compared to last year’s first quarter to 52.3 Mboe/d, including oil production growth of 36%.
  • Includes $5.5 million of share repurchases incurred during the first quarter, but settled during the second quarter of 2023.

Magnolia Oil & Gas Corporation Announces 2022 Fourth Quarter and Year-End Results

Retrieved on: 
Tuesday, February 14, 2023
Oil, Gas, Energy, Public expenditure, Bank statement, D, Common, Interest, Karnes, GAAP, Webcast, Common stock, Annual report, Quarter, Class, Growth, Mineral, Share repurchase, D&C, Video game, Bank, Holding company, Security (finance), Renewable energy, Cryptocurrency

Net cash provided by operating activities was $268.0 million during the fourth quarter 2022 and $1,296.7 million during full-year 2022.

Key Points: 
  • Net cash provided by operating activities was $268.0 million during the fourth quarter 2022 and $1,296.7 million during full-year 2022.
  • The Company generated free cash flow(1) of $141.0 million during the fourth quarter 2022 and $823.5 million during full-year 2022.
  • Production at Giddings and Other in the fourth quarter of 2022 grew 20% compared to the prior year fourth quarter to 43.1 Mboe/d including oil production growth of 26%.
  • Production here represented nearly 60% of overall Magnolia volumes in 2022, a significant increase compared to 2019 levels of 33%.

Stacy Cornelis Joins Stonebridge Consulting's Advisory Service Offering to Help Clients Advance Digital Transformation for Drilling and Completions

Retrieved on: 
Thursday, July 14, 2022
Knowledge, Technology, D&C, Playbook, Goal, System, Data management, Hydrocarbon, Adoption, Stonebridge, Saskatoon, Friction, Stonebridge, Senior Consultant, Sales

OKLAHOMA CITY, Okla., July 14, 2022   /PRNewswire-PRWeb/ -- Stonebridge Consulting (Stonebridge), an operations optimization consultancy dedicated to the energy industry, today announced that Stacy Cornelis has joined its team as Senior Consultant. Stacy will contribute her extensive knowledge of drilling and completions software and data management to the firms advisory service offering where she will focus on helping energy companies navigate growing digital oilfield complexity and data quality challenges. At a time when North American producers are being called on to produce more, digital oilfield transformation has become an imperative to drilling faster, safer, and more profitable wells, underscoring the need for Stonebridge's deep bench of expertise in wellsite data management, software selection, systems integration, and application security.

Key Points: 
  • Leading provider of energy business consulting and technology services welcomes Stacy Cornelis who brings extensive drilling and completions knowledge to advance client digital transformation.
  • OKLAHOMA CITY, Okla., July 14, 2022 /PRNewswire-PRWeb/ -- Stonebridge Consulting (Stonebridge), an operations optimization consultancy dedicated to the energy industry, today announced that Stacy Cornelis has joined its team as Senior Consultant.
  • Stacy will contribute her extensive knowledge of drilling and completions software and data management to the firms advisory service offering where she will focus on helping energy companies navigate growing digital oilfield complexity and data quality challenges.
  • Stonebridge's advisory service offering helps operators navigate digital oilfield complexity with a proven playbook and business accelerators to drive digital transformation success, including software assessment and implementation, data migrations, and continuous data quality assurance.