BOPD

Company Provides Operational Update for Monterey County Oil Producing Assets

Retrieved on: 
Thursday, April 11, 2024
Well, Investment, Steam, Monterey Formation, BOPD, Trio, Oil

Bakersfield, CA, April 11, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided an update on its oil producing assets in Monterey County, California, including at the Presidents Field (“Presidents”) of the South Salinas Project and at the McCool Ranch Field (“McCool Ranch”).

Key Points: 
  • Bakersfield, CA, April 11, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided an update on its oil producing assets in Monterey County, California, including at the Presidents Field (“Presidents”) of the South Salinas Project and at the McCool Ranch Field (“McCool Ranch”).
  • “We are pleased to provide this operational update on our two oil producing assets in Monterey County,” commented Michael Peterson, CEO of Trio Petroleum.
  • Oil production on this well has stabilized at an average production rate of 30 barrels of oil per day (BOPD).
  • In summary, the Company currently has three actively producing oil wells, two at McCool Ranch Field and one at Presidents Field.

SANDBOND™ TECHNOLOGY TRANSFORMS ABANDONED WELL INTO A PRODUCING ASSET IN SASKATCHEWAN, CANADA

Retrieved on: 
Tuesday, March 12, 2024
TENEX, Sand, Permeability, BOPD, O&G, Water, Multimedia, Oil

The well, which had been offline for over a decade due to persistent sand production issues, underwent a remarkable turnaround after a single SandBOND™ treatment.

Key Points: 
  • The well, which had been offline for over a decade due to persistent sand production issues, underwent a remarkable turnaround after a single SandBOND™ treatment.
  • The TenEx Innovation Team rose to the challenge, designing a cost- effective treatment using their patent-pending SandBOND™ technology.
  • This transformative innovation turned the well from a liability into a valuable asset for the operator.
  • This dormant well was converted from a liability cost to a profitable, revenue-generating asset for our customer.

Gran Tierra Energy Inc. Provides Operations Update

Retrieved on: 
Monday, March 11, 2024
Acquisition, Total, API, GTE, Charapa, Safety, TSX, 3D, ESG, Gran Tierra Energy, BOPD, Water

2024 Year-to-Date Total Company Average Production1 of Approximately 33,100 BOPD, 6% Percent Increase from Fourth Quarter 2023

Key Points: 
  • 2024 Year-to-Date Total Company Average Production1 of Approximately 33,100 BOPD, 6% Percent Increase from Fourth Quarter 2023
    CALGARY, Alberta, March 11, 2024 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced an operational update.
  • Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: “We are thrilled by the outcome to the start of our development drilling program so far in 2024.
  • Since December 2023, Gran Tierra has drilled 5 wells of which 4 are oil producers and 1 is a water injector:
    The first well, CYC-56, has been on production with jet pump since early January 2024.
  • During 2023 Gran Tierra received an “A” rating from MSCI5 as a result of its Beyond Compliance philosophy and ESG performance.

Trio Petroleum Corp Provides Update on Monterey County Operations

Retrieved on: 
Monday, March 4, 2024
Acquisition, HH-1, Steam, Water, California Department, Trio, BOPD, Fresh water, Oil

Bakersfield, CA, March 04, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided an update on its operations in Monterey County, California, including at the McCool Ranch Oilfield (“McCool Ranch”) and at the South Salinas Project.

Key Points: 
  • Bakersfield, CA, March 04, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided an update on its operations in Monterey County, California, including at the McCool Ranch Oilfield (“McCool Ranch”) and at the South Salinas Project.
  • TPET announced on Oct. 18, 2023, the acquisition of working interest in McCool Ranch, located in Monterey County seven miles north of the Company’s South Salinas Project.
  • It will be possible operationally to accurately measure oil and water production rates in about one week.
  • When appropriate, TPET will transition each well to cyclic-steam operations, also known as “huff and puff”, which is expected to significantly increase production.

How Europe Can Win the Energy War With Russia

Retrieved on: 
Friday, March 8, 2024
Acquisition, KMI, Kinder Morgan, Natural gas, PBR, MCF, DVN, Element, Devon Energy, BOPD, Big, Chesapeake Energy, Hydrocarbon, Renewable energy

LONDON, March 8, 2024 /PRNewswire/ -- Natural gas is now back in fashion in a very big way and the new mantra is that domestic sources in combination with renewable energy are the only true answer to energy security.  Companies mentioned in this release include:  Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), Ecopetrol S.A. (NYSE:EC), Devon Energy Corporation (NYSE:DVN), Chesapeake Energy Corporation (NYSE:CHK), Kinder Morgan, Inc. (NYSE:KMI)

Key Points: 
  • And Austria has recently made its largest natural gas discovery in four decades—enough to increase its domestic production by 50%.
  • Below are two companies well-positioned to take advantage of the new energy security atmosphere in Europe:
    #1 MCF Energy ( MCF .V; MCFNF .QX)
    Small-cap MCF Energy, backed by veteran explorer and producer, Ford Nicholson, is convinced that this is the right atmosphere in which to foster European energy security through domestic natural gas production.
  • MCF Energy is the first new public company consolidating major exploration projects in Europe, and it's the first since Russia invaded Ukraine to offer investors an opportunity to help build domestic natural gas resources in Germany and Austria.
  • Thanks to its 100% acquisition of German Genexco last year, MCF Energy is now ready to drill down for some much-needed domestic energy resources for Germany.

How Europe Can Win the Energy War With Russia

Retrieved on: 
Friday, March 8, 2024
Acquisition, KMI, Kinder Morgan, Natural gas, PBR, MCF, DVN, Element, Devon Energy, BOPD, Big, Chesapeake Energy, Hydrocarbon, Renewable energy

LONDON, March 8, 2024 /PRNewswire/ -- Natural gas is now back in fashion in a very big way and the new mantra is that domestic sources in combination with renewable energy are the only true answer to energy security.  Companies mentioned in this release include:  Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), Ecopetrol S.A. (NYSE:EC), Devon Energy Corporation (NYSE:DVN), Chesapeake Energy Corporation (NYSE:CHK), Kinder Morgan, Inc. (NYSE:KMI)

Key Points: 
  • And Austria has recently made its largest natural gas discovery in four decades—enough to increase its domestic production by 50%.
  • Below are two companies well-positioned to take advantage of the new energy security atmosphere in Europe:
    #1 MCF Energy ( MCF .V; MCFNF .QX)
    Small-cap MCF Energy, backed by veteran explorer and producer, Ford Nicholson, is convinced that this is the right atmosphere in which to foster European energy security through domestic natural gas production.
  • MCF Energy is the first new public company consolidating major exploration projects in Europe, and it's the first since Russia invaded Ukraine to offer investors an opportunity to help build domestic natural gas resources in Germany and Austria.
  • Thanks to its 100% acquisition of German Genexco last year, MCF Energy is now ready to drill down for some much-needed domestic energy resources for Germany.

Evolution Petroleum Reports Second Quarter Fiscal 2024 Results and Declares Quarterly Cash Dividend for the Fiscal 2024 Third Quarter

Retrieved on: 
Tuesday, February 6, 2024
Carbon, ExxonMobil, GAAP, International, NGL, Tax, Jonah Field, Interest, Transport, Henry Hub, BOPD, Evolution, Public expenditure, MCF, LOE, Central Time, Acquisition, Natural gas, Webcast

Evolution reported $21.0 million of total revenue for the current quarter, a 2% increase from the prior quarter.

Key Points: 
  • Evolution reported $21.0 million of total revenue for the current quarter, a 2% increase from the prior quarter.
  • Lease operating costs (“LOE”) increased $0.5 million, or 4% from $11.9 million in the prior quarter to $12.4 million in the current quarter.
  • During the second quarter of fiscal 2024, the Company fully funded operations, development capital expenditures, and cash dividends through cash generated from operations and working capital.
  • As previously announced, Evolution Petroleum will host a conference call on February 7, 2024, at 10:00 a.m. Central Time to review its second quarter fiscal 2024 financial and operating results.

Trio Petroleum Corp Provides Update on Monterey County Operations

Retrieved on: 
Monday, February 5, 2024
Well, Trio, Annual report, Steam, 3D, BOPD, Fracture, Monterey Formation, Fresh water, Water, Acquisition, KLSP, Independent, Oil

Bakersfield, CA, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided an update on its operations in Monterey County, California, where it has ownership in two assets: the South Salinas Project and the McCool Ranch Oilfield (“McCool Ranch”).

Key Points: 
  • TPET announced on Oct. 18, 2023, the acquisition of approximately 22% working interest in McCool Ranch, located in Monterey County seven miles north of the Company’s South Salinas Project.
  • Trio will be restarting oil production of these previously producing wells that have been primarily idle since 2015.
  • TPET’s investment at McCool Ranch is primarily allocated to restarting production and is expected to establish important cash flow.
  • Now cleared and field conditions stabilized, operations will commence to restart oil production at the 58X-23 and HH-1-ST2 wells and possibly the 35X-23 well.

Gran Tierra Energy Inc. Announces 2024 Guidance and Operations Update

Retrieved on: 
Tuesday, January 23, 2024
Human rights, Total, Social, API, BOPD, Security, Public expenditure, VPI, Tax, GAAP, Investment, Safety, LTI, Depreciation, Transport, Capital, Economic development, Development, Base, Nature, Base case, High Impact, Growth, Bank

Costayaco: in this oil field, located in the northern Putumayo Basin, Gran Tierra plans to drill 3 to 5 development wells.

Key Points: 
  • Costayaco: in this oil field, located in the northern Putumayo Basin, Gran Tierra plans to drill 3 to 5 development wells.
  • Gran Tierra’s 2024 exploration drilling is planned to follow up on the encouraging results from the Company’s 2022 exploration program.
  • Gran Tierra remains focused on generating strong Free Cash Flow2, ongoing net debt5 reduction and shareholder returns via share buybacks.
  • Share Buybacks: During 2024, Gran Tierra plans to allocate up to approximately 50% of its Free Cash Flow to share buybacks in the Base Case.

Kolibri Global Energy Inc. Provides 2024 Guidance and Operations Update

Retrieved on: 
Monday, January 29, 2024
Energy, Natural Resources, Mining, Minerals, Oil, Gas, NGL, Adjustment, BOPD, Tax, Emery, GAAP, Tonne, Depreciation, Fracture, Organization, Management, News, WTI, Henry Hub, Growth

The average production, revenue, and Adjusted EBITDA guidance for 2024 shows significant growth from the latest 2023 forecast numbers, even with a $72 WTI price assumption.

Key Points: 
  • The average production, revenue, and Adjusted EBITDA guidance for 2024 shows significant growth from the latest 2023 forecast numbers, even with a $72 WTI price assumption.
  • As the Company executes this strategy going forward, it will consider the implementation of a shareholder return policy in 2024.
  • Wolf Regener, President and CEO, commented, “We are looking forward to another strong year of revenue and cash flow growth for the Company, based on our 2024 forecast.
  • Like many other operators, the Company's operations were impacted by the below-freezing temperatures in January 2024.