Thursday, December 26, 2013

Goodrich Update

Goodrich provided this update on their TMS operations:
HOUSTON, Dec. 26, 2013 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE: GDP) today announced that its Huff 18-7H-1 (97% WI) well in Amite County, Mississippi was successfully fracture stimulated with 17 stages and had commenced flowback at expected fluid rates when the well became plugged up with frac-related debris at a frac plug approximately 500 feet into the lateral, which will need to be cleaned out prior to resuming flowback.  Therefore, completion results are expected to be released after the first of the year as soon as flowback has resumed and peak rate achieved.

The Company is near total depth on its Weyerhaeuser 51-1H-1 (67% WI) well in St. Helena Parish, Louisiana, which is expected to be completed in January, and is currently running intermediate casing in preparation of drilling the lateral on its CMR 8-5H-1 (100% WI) well in Amite County, Mississippi.

The Company has in excess of 300,000 net acres in the play with two rigs currently running.  A third rig is set to commence drilling operations in the first quarter of 2014, and the Company anticipates up to five rigs running by year-end 2014 pending continued drilling results.

Tuesday, December 17, 2013

Comstock Announces 2014 Budget

"The 2014 budget includes $80 million for completion costs of 29 (21.0 net) South Texas Eagle Ford shale wells that were drilled in 2013 but will be completed in 2014.  In addition to completing the wells drilled in 2013, Comstock has budgeted to drill 71 (47.6 net) horizontal wells in 2014.  The Company expects to spend $264 million for drilling 59 (40.2 net) wells in the South Texas Eagle Ford shale, $50 million for drilling ten (5.6 net) East Texas Eagle Ford shale wells, $27 million for drilling two (1.8 net) Tuscaloosa Marine shale wells and $29 million on facilities, recompletions and other capital projects.  Depending on oil and natural gas prices in 2014, the Company anticipates funding its drilling expenditures with operating cash flow."

Source:
http://phx.corporate-ir.net/phoenix.zhtml?c=101568&p=irol-newsArticle&ID=1885047&highlight=

Wednesday, December 11, 2013

Encana - 2014 Guidance

Encana announced this today as part of their 2014 guidance:
"In order to transition to a more balanced commodity portfolio and achieve a goal of deriving approximately 75 percent of its cash flow from oil and natural gas liquids by 2017, Encana will focus three quarters of its planned $2.4 billion to $2.5 billion capital investment in 2014 on five oil and liquids-rich assets: the Montney, Duvernay, DJ Basin, San Juan Basin and the Tuscaloosa Marine Shale (TMS)  These five assets are expected to make up about 25 percent of total production in 2014 while generating approximately 45 percent of total upstream operating cash flow before the impact of commodity price hedging."

http://files.shareholder.com/downloads/AMDA-I95FU/2837231797x0x713027/1881d574-3a93-4cc3-bf19-496d026c3a47/ECA_News_2013_12_11_General_Releases.pdf

Slide Presentation:
http://www.encana.com/pdf/investors/presentations-events/corp-guidance-2014.pdf

Source: www.encana.com
Source: www.encana.com

Source: www.encana.com
Source: www.encana.com