Encana ( ECA ) has come out with their earnings report as well as their operational report including the Haynesville Shale and Horn River Shale. Operating earnings up 40 percent to $1.92 per share or $1.4 billion
Haynesville Shale: In the third quarter of 2008, we strengthened our position in the Haynesville gas resource play by acquiring 25,000 net acres, increasing ourland position to about 400,000 net acres, plus 63,000 net acres of mineral rights. We continue to see great potential in this promising shale play,"Eresman said. "EnCana, along with our partner, Shell Exploration & Production,has an industry-leading land position in this area of Louisiana. We currently have six rigs running with a focus on cost reduction and completion optimization. We will target drilling and completing the first well in themid-Bossier shale in the fourth quarter.
Horn River Shale: At HornRiver in British Columbia, EnCana and partner Apache Corporation have completed seven wells this year, with one of our most recent wells delivering encouraging results, flowing for the first 30 days at an average of almost8 MMcf/d."
Montney Shale: In northeast British Columbia and northwestern Alberta, our already strong land position in the Montney play hasexpanded to more than 700,000 acres. With that, EnCana has the largest disclosed land base in this emerging unconventional gas field.
Showing posts with label earnings. Show all posts
Showing posts with label earnings. Show all posts
Thursday, October 23, 2008
Monday, October 20, 2008
Halliburton HAL 3rd Quarter Earnings .76EPS - Montney Shale, Bakken Shale
Halliburton ( HAL ) released 3rd quarter earnings this morning 10/20/08 and provided updates on the Montney Shale of Canada and the Bakken Shale of North Dakota.
For the third quarter, HAL earned .76 Earnings per share.
In Canada's Montney shale play, Halliburton completed its 50th horizontal CobraMax(R) job. The CobraMax(R) process now averages less than eight hours per zone from cut to cut, an improvement from over 24 hours on earlier wells.
Halliburton has set its 900th Swellpacker(R) isolation system in horizontal Bakken wells in the Williston Basin. The use of this packer system has allowed operators to compartmentalize their wellbores for fracture completions resulting in improved production. Delta Stim(R) sleeves are also used with the Swellpacker(R) systems greatly reducing the time required to complete a well.
For a full earnings calendar - visit - http://blackberrystocks.com
For the third quarter, HAL earned .76 Earnings per share.
In Canada's Montney shale play, Halliburton completed its 50th horizontal CobraMax(R) job. The CobraMax(R) process now averages less than eight hours per zone from cut to cut, an improvement from over 24 hours on earlier wells.
Halliburton has set its 900th Swellpacker(R) isolation system in horizontal Bakken wells in the Williston Basin. The use of this packer system has allowed operators to compartmentalize their wellbores for fracture completions resulting in improved production. Delta Stim(R) sleeves are also used with the Swellpacker(R) systems greatly reducing the time required to complete a well.
For a full earnings calendar - visit - http://blackberrystocks.com
Saturday, October 18, 2008
Marcellus Shale - RRC Range Resources Earnings 10/22
This coming week, the natural gas market will be eyeing Range Resources ( RRC ) as this company will be releasing earnings on Wednesday 10/22/08 at 4pm.
Range Resources is one of the biggest operators in the Marcellus Shale natural gas field and it will be interesting to see what they have to say about operations given the steep drop in natural gas prices. Chesapeake Energy ( CHK ) is reporting that it will try to sell its Marcellus Shale stake for 2.5 - 3 billion in cash to raise capital.
I will have an update later this week....for a full earnings calendar visit http://blackberrystocks.com
Range Resources is one of the biggest operators in the Marcellus Shale natural gas field and it will be interesting to see what they have to say about operations given the steep drop in natural gas prices. Chesapeake Energy ( CHK ) is reporting that it will try to sell its Marcellus Shale stake for 2.5 - 3 billion in cash to raise capital.
I will have an update later this week....for a full earnings calendar visit http://blackberrystocks.com
Wednesday, July 30, 2008
Oil & Natural Gas Prices - Opinion from CLR CEO - Haynesville, Marcellus, Bakken Shale
Yesterday in Continental Resources ( CLR ) 2nd quarter conference call, The CEO, Harold Hamm gave his opinion on the Future of Oil and Natural Gas prices for the near future and 2009. He also commented on production of Natural Gas from Marcellus and Haynesville Shale. I found this interesting and hope my readers do too.
Eric Hagen - Merrill Lynch
Great. Then last one was just for Harold. Any comment on commodity prices, oil in particular. And also on the idea that the market will be swamped with gas, next year from the shale plays Marcellus Hayneville?
Harold G. Hamm - Chairman and Chief Executive Officer
You see some of these plays are atop of that gas first of all. You'll see some of these plays that come on somewhat slower. And Marcellus is going to be one of those that takes I think quite a bit slower then some of the others, basically it's due to infrastructure. Lot of needs out there for better infrastructure pipes and rigs and services and you name it. So I think that will... that's going to come up slower than some of the rest of them. And Hayneville we are seeing some opposite rates going out there. But even that play is going to, probably heat up a lot slower as far as supply coming to market. That's going to have its own challenges, pressure gas, tectonic area, under pressure systems and et cetera. So I wouldn't think next year is going to be about of gas on the market. That would count on that at all.
As far as crude oil; we've just not seen anything change in fundamentals. We've seen demand slacken a little bit in the U.S. but rest of world we've not seen that slackening happen. So the fundamentals of being short with little bit transportation fuels remains. So as far as crude oil gain offer cheap in the next foreseeable future, I'd still see that happening.
I think as we go forward its going to become even more critical in 2009 and beyond. So we... I'd kind of stay at settling down to a range maybe $120 to $135 range. And that's good, I don't think the country is ready to $200 oil. And I think it would be devastating to see that. So obviously, we have to change to natural gas as transportation fuel in the future. But there are things, and we will have adequate supply to do that. And the country needs to make that move going forward.
Eric Hagen - Merrill Lynch
Great. Then last one was just for Harold. Any comment on commodity prices, oil in particular. And also on the idea that the market will be swamped with gas, next year from the shale plays Marcellus Hayneville?
Harold G. Hamm - Chairman and Chief Executive Officer
You see some of these plays are atop of that gas first of all. You'll see some of these plays that come on somewhat slower. And Marcellus is going to be one of those that takes I think quite a bit slower then some of the others, basically it's due to infrastructure. Lot of needs out there for better infrastructure pipes and rigs and services and you name it. So I think that will... that's going to come up slower than some of the rest of them. And Hayneville we are seeing some opposite rates going out there. But even that play is going to, probably heat up a lot slower as far as supply coming to market. That's going to have its own challenges, pressure gas, tectonic area, under pressure systems and et cetera. So I wouldn't think next year is going to be about of gas on the market. That would count on that at all.
As far as crude oil; we've just not seen anything change in fundamentals. We've seen demand slacken a little bit in the U.S. but rest of world we've not seen that slackening happen. So the fundamentals of being short with little bit transportation fuels remains. So as far as crude oil gain offer cheap in the next foreseeable future, I'd still see that happening.
I think as we go forward its going to become even more critical in 2009 and beyond. So we... I'd kind of stay at settling down to a range maybe $120 to $135 range. And that's good, I don't think the country is ready to $200 oil. And I think it would be devastating to see that. So obviously, we have to change to natural gas as transportation fuel in the future. But there are things, and we will have adequate supply to do that. And the country needs to make that move going forward.
Tuesday, July 29, 2008
Continental Resources ( CLR ) Bakken Shale - Earnings
This morning Continental Resources ( CLR ) has released earnings. CLR reported net income of 124 million or .75 cents per share for the 2nd quarter of 2008. In last years 2nd quarter, Continental Resources reported 44 million in net income - .27 cents per share on a pro forma basis. Now you can see why CLR is one of the Top 2008 Stock Gainers. Total revenues were 303.4 million vs 145.3 Million a year ago.
The Company's average sales price per barrel of crude oil equivalent was $102.86 for the most recent quarter, compared with $54.44 for the second quarter last year.
Bakken Shale
In the second quarter of 2008, Continental increased its lease acreage position in the Bakken Shale play to approximately 525,000 net acres, with153,000 net acres in Montana and 372,000 net acres in North Dakota.
Here is each well list and the production rate for each well:
-- Mathistad 1-35H (40% WI) in McKenzie Co. -- 1,260 boepd;
-- Dodge 1-17H (20% WI) McKenzie Co. -- 989 boepd;
-- Whitman 11-34H (32% WI) in Dunn Co. -- 765 boepd;
-- Bice 1-29H (44% WI) in Dunn Co. -- 693 boepd;
-- Cleo 1-12H (26% WI) McKenzie Co. -- 654 boepd;
-- Carson Peak 44-2H (33% WI) in Dunn Co. -- 601 boepd;
-- Kermit 1-32H (45% WI) McKenzie Co. -- 596 boepd;
-- Bridger 44-14H (45% WI) in Dunn Co. -- 383 boepd;
-- Bonneville 31-23H (45% WI) in Dunn Co. -- 362 boepd;
-- Mountain Gap 31-10H (44% WI) in Dunn Co. -- 331 boepd.
Where is the Three Forks Region?
Eight of the 10 wells listed above were completed in the Middle Bakken formation, which has typically been the drilling target in the North Dakot Bakken play. The Bice 1-29H and Mathistad 1-35H were Continental's first to wells to be targeted for the Three Forks/Sanish (TFS) formation, which is typically found 50-to-100 feet beneath the base of the Upper Bakken. Since the Bice 1-29H completion in late May, Continental has adjusted most of its drilling program to target specifically the TFS and determine its potential toadd incremental reserves to the play.
Woodford Shale:
Continental's lease position in the Arkoma Woodford is approximately46,000 acres
Haynesville Shale
The Company has grown its land positions to approximately 17,000 net acres in the Haynesville Shale play in northern Louisiana and approximately
The Company's average sales price per barrel of crude oil equivalent was $102.86 for the most recent quarter, compared with $54.44 for the second quarter last year.
Bakken Shale
In the second quarter of 2008, Continental increased its lease acreage position in the Bakken Shale play to approximately 525,000 net acres, with153,000 net acres in Montana and 372,000 net acres in North Dakota.
Here is each well list and the production rate for each well:
-- Mathistad 1-35H (40% WI) in McKenzie Co. -- 1,260 boepd;
-- Dodge 1-17H (20% WI) McKenzie Co. -- 989 boepd;
-- Whitman 11-34H (32% WI) in Dunn Co. -- 765 boepd;
-- Bice 1-29H (44% WI) in Dunn Co. -- 693 boepd;
-- Cleo 1-12H (26% WI) McKenzie Co. -- 654 boepd;
-- Carson Peak 44-2H (33% WI) in Dunn Co. -- 601 boepd;
-- Kermit 1-32H (45% WI) McKenzie Co. -- 596 boepd;
-- Bridger 44-14H (45% WI) in Dunn Co. -- 383 boepd;
-- Bonneville 31-23H (45% WI) in Dunn Co. -- 362 boepd;
-- Mountain Gap 31-10H (44% WI) in Dunn Co. -- 331 boepd.
Where is the Three Forks Region?
Eight of the 10 wells listed above were completed in the Middle Bakken formation, which has typically been the drilling target in the North Dakot Bakken play. The Bice 1-29H and Mathistad 1-35H were Continental's first to wells to be targeted for the Three Forks/Sanish (TFS) formation, which is typically found 50-to-100 feet beneath the base of the Upper Bakken. Since the Bice 1-29H completion in late May, Continental has adjusted most of its drilling program to target specifically the TFS and determine its potential toadd incremental reserves to the play.
Woodford Shale:
Continental's lease position in the Arkoma Woodford is approximately46,000 acres
Haynesville Shale
The Company has grown its land positions to approximately 17,000 net acres in the Haynesville Shale play in northern Louisiana and approximately
Tuesday, July 22, 2008
XTO Energy XTO - Barnett Shale - Earnings
XTO has come out with great company earnings this morning. 2nd quarter earnings per share was $1.11 with revenue coming in at $1.94 billion
XTO Energy expanded their position in the Barnett Shale acquiring another 12,900 acres for 800 million. XTO now has a total acreage position in the Barnett Shale of 280,000 of which 155,000 of those acres are in the heart of the shale play.
XTO energy also expanded in the Marcellus Shale, Haynesville Shale, Fayetteville Shale, but more will be coming later in their conference call.
XTO Energy expanded their position in the Barnett Shale acquiring another 12,900 acres for 800 million. XTO now has a total acreage position in the Barnett Shale of 280,000 of which 155,000 of those acres are in the heart of the shale play.
XTO energy also expanded in the Marcellus Shale, Haynesville Shale, Fayetteville Shale, but more will be coming later in their conference call.
Friday, July 18, 2008
XTO Energy XTO Earnings 7/22
XTO Energy ( XTO ) reports earnings Tuesday July 22nd, 2008 8am Est. XTO Energy is expected to report $1.08 in Earnings.
This will be a key conference call for people wanting new details on XTO's shale plays including the Haynesville Shale, Marcellus Shale, Barnett Shale, and Bakken Shale Fields in which XTO has acreage positions.
I will be on the Conference Call in which I will report and important highlights right here in my blog. Barrons came out today and gave positive highlights on XTO today. It was also upgraded.
This will be a key conference call for people wanting new details on XTO's shale plays including the Haynesville Shale, Marcellus Shale, Barnett Shale, and Bakken Shale Fields in which XTO has acreage positions.
I will be on the Conference Call in which I will report and important highlights right here in my blog. Barrons came out today and gave positive highlights on XTO today. It was also upgraded.
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