Companies - News
The accreditation process began in the second half of 2015, and the award was received Dec. 11, 2016.
Laredo plans to operate four horizontal rigs in 2017 and plans to drill and complete about 70 horizontal wells with roughly 95% average working interest.
Hess Corp. budgeted $2.25 billion for E&P this year, higher than the $1.9 billion it spent in 2016, in one of the first signs that the shale industry will spend more in 2017 after years of declines.
The news came on the day former Exxon CEO Rex Tillerson faced a U.S. Senate confirmation hearing on his nomination to serve as President-elect Donald Trump's secretary of state, Reuters reported.
Heavey will be replaced as CEO by COO Paul McDade after the company's annual general meeting on April 26 when Heavey will become chairman for a maximum of two years.
USEG will acquire 40% of IronHorse Resources LLC’s interest in five Wattenberg farm-out agreements, a Jan. 4 press release said.
The company also said that its debt became diversified with a long-term fixed interest rate. Its fourth-quarter 2016 net debt-to-funds ratio is 1.8x, which could decrease to 1.3x in 2017.
The Houston-based company said it entered the Permian Basin with the purchase of 3,630 net mineral acres targeting the San Andres horizontal play in the Central Basin Platform.
Production from Encana's core assets could exceed its previous forecast of 15% to 20% growth, between the fourth quarter of this year and the corresponding period in 2016, Reuters reported.
Tillerson could face a rocky confirmation process, given concerns among both Democrats and Republicans about his ties to Russia.
Previously, Warren Zemlak was a senior executive at Schlumberger and a privately owned services company.
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