Eighteen Wells Will Be Reported Off The Confidential List Today -- November 25, 2019

Active rigs:

$57.63	11/25/2019	11/25/2018	11/25/2017	11/25/2016	11/25/2015
Active Rigs	57	62	53	37	65

See initial production for three more incredible CLR Carus wells at this post. 

Wells coming off the confidential list over the weekend, today  -- Monday, November 25, 2019: 88 for the month; 189 for the quarter:

• 36236, 0 (no typo), BR, CCU Prairie Rose 1B TFH, Corral Creek, t9/19; cum 00;
• 36138, SI/NC, XTO, Sorkness State Federal 34X-36D, Sorkness, no production data,
• 35578, 2,652, CLR, Carus 11-28H, Cedar Coulee, t7/19; cum 132K 9/19;
• 35548, 2,512, CLR, Carus 6-28H1, Cedar Coulee, t7/19; cum 120K 9/19;
• 35255, SI/NC, Hess, BB-Olson-LE-150-95-09H-1, Blue Buttes, no production data,
• 29608, 738, Slawson, Snakeeyes 8-20-29TFH, Big Bend, t8/19; cum --;

Sunday, November 24, 2019: 82 for the month; 183 for the quarter:

• 35910, SI/NC, WPX, Beaver 22-21HW, Squaw Creek, no production data,
• 35256, SI/NC, Hess, BB-Olson-150-95-09H-11, Blue Buttes, no production data,
• 35257, SI/NC, , Hess, BB-Olson-150-95-09H-10, Blue Buttes, no production data,
• 31616, 25 (no typo), BR, He 6-8-20UTFH, Elidah, t9/19; cum --;

Saturday, November 23, 2019: 78 for the month; 179 for the quarter:

• 35909, SI/NC, WPX, Beaver 22-21HC, Squaw Creek, no production data,
• 35609, 872, Hess, RS-Flickertail-156-91-1720H-2, Ross, t6/19; cum 48K 9/19;
• 35604, 1,250, Whiting, Sylte 24-10-2TFH, Tyrone, t5/19; cum 78K 9/19;
• 35549, 1,160, CLR, Carus 5-28H, Cedar Coulee, t9/19; cum 28K 9/19;
• 35258, SI/NC, Hess, BB-Olson-150-95-09H-8, Blue Buttes, no production data,
• 31615, 10 (no typo), BR, Hefer 7-8-20MBH, Elidah, t9/19; cum --;
• 29921, 1,210, Oasis, O M Erickson 5501 43-7 6B, Missouri Ridge, t5/19; cum 94K 9/19;
• 29609, 1,179, Slawson, Snakeeyes 5-20-29TFH, Big Bend, t819; cum --;

RBN Energy: E&P profits, cash flow slips again, but cost controls keep industry in the black. What, me worry? Archived.

With oil and gas prices drifting lower and markets continuing to pummel exploration and production companies, shareholders and analysts approached the third-quarter 2019 earnings season with the sense of impending doom akin to awaiting the results of an IRS audit. There was a lot of talk that the Shale Revolution was fizzling out and that the industry was approaching yet another financial Armageddon, like the 2014-15 oil price crash crisis. But the results belied the worst fears: while lower commodity prices did reduce profits and cash flows, E&Ps as a group remained solidly profitable in the third quarter, with 40 of the 47 companies we track ending up in the black. The reductions in operating income and cash flows were generally in line with lower realizations from oil and gas sales, although lower commodity prices did trigger some write-downs of properties that could no longer be profitably developed. Once again, E&Ps held the line on costs, continuing the financial discipline that fueled the industry’s recovery after the mid-decade price crash. Although producers generally cut back expenditures in line with lower cash flows, increases in drilling efficiency allowed production to keep growing. Today, we examine the financial health of the 47 E&Ps we track in this analysis and the ways they are navigating the price downturn.

As NPR Marketplace radio host Kai Ryssdal likes to say, “Let’s do the numbers.” E&Ps took a double-barreled hit during the third quarter of 2019, as oil and gas prices fell while impairments rose substantially. The 47 E&Ps we follow reported combined pretax operating profits of $6.1 billion profit, or $5.06 per barrel of oil equivalent (boe; blue bar to far right in Figure 1), the lowest since 2017. Pretax operating cash flow fell just short of $20/boe (orange bar to far right in Figure 1). Profits, excluding impairments, and cash flow declined $2.96 billion and $2.73 billion, respectively, virtually matching the $2.76 billion reduction in revenues from lower commodity prices. Impairments totaled nearly $3 billion, double the previous quarter, led by Antero Resources’ $1 billion write-down of its Utica Shale properties. Lifting costs, DD&A (depreciation, depletion and amortization) expenses, and exploration costs were level with the preceding two quarters.