On Tuesday, SandRidge Energy, Inc. (NYSE:SD)’s shares surged 8.95% to $2.07, as some energy and related stocks get a jolt from the rise in oil prices.
The commodity was advancing as a result of a forecast that shale output in the U.S. will post its first monthly decline in over four years and due to tensions in Yemen, where key oil exporter Saudi Arabia is involved in a civil war, Reuters reports.
On Monday the Energy Information Administration said it anticipates shale production to decline by 45,000 barrels per day to 4.98 million bpd next month.
Yemen’s liquefied natural gas plant declared on Tuesday that it declared force majeure due to deteriorating security, ceasing production, Reuters added.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
Sanchez Energy Corporation (NYSE:SN)’s shares gained 8.94% to $14.86, during the last trading session on Tuesday, as Sanchez Energy invites interested parties to dial in to the conference call, or listen to the webcast, when administration discusses Sanchez Energy Corporation’s First Quarter 2015 Earnings Conference Call on Thursday, May 7, 2015, at 11:00 a.m. Eastern Time.
Sanchez Energy Corporation, an independent exploration and production company, focuses on the attainment, exploration, and development of unconventional oil and natural gas resources in the onshore U.S. Gulf Coast. It has about 226,000 net leasehold acres in the oil and condensate, or black oil and volatile oil, windows of the Eagle Ford Shale in South Texas; and about 69,000 net leasehold acres in the Tuscaloosa Marine Shale in Mississippi and Louisiana. The company was founded in 2011 and is headquartered in Houston, Texas.
At the end of Tuesday’s trade, Eclipse Resources Corporation (NYSE:ECR)’s shares gained 8.51% to $6.12, after Eclipse Resources Corporation offered an update to its 2015 Capital Budget, its first quarter 2015 estimated production and additional guidance on its operations in 2015. Highlights of the declaration comprised of:
- Eclipse Resources estimates that first quarter 2015 production averaged about 160 MMcfe per day, a 316% raise relative to the first quarter of 2014 and a 29% sequential raise over fourth quarter 2014 production.
- For the full year 2015, Eclipse Resources anticipates production to be between 180 MMcfe per day and 190 MMcfe per day representing production growth at the midpoint of this range of 154% over 2014 average daily production
- Eclipse Resources’ Board of Directors has approved a capital budget of $352 million for 2015
- Following discussions with various financial partners, Eclipse Resources has made the decision not to pursue a drilling joint venture at this time.
Eclipse Resources Corporation, an independent exploration and production company, attains and develops oil and natural gas properties in the Appalachian Basin. The company owns interests in the Utica Shale and Marcellus Shale areas.
Finally, Warren Resources Inc. (NASDAQ:WRES), ended its Tuesday’s trading session with 8.05% gain, and closed at $1.02, as Warren Resources declared that senior administration will take part in the 21st Annual Oil & Gas Investment Symposium, hosted by the Independent Petroleum Association of America in New York, NY. The Company will present on Tuesday, April 21, 2015, at 9:10 am ET.
Warren Resources, Inc., an independent energy company, engages in the exploration, development, and production of domestic onshore crude oil and gas reserves. The company primarily focuses on the exploration and development of waterflood oil recovery projects in the Wilmington field within the Los Angeles Basin of California; Marcellus Shale project in northeastern Pennsylvania; and coalbed methane natural gas properties located in the Rocky Mountain region.
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