Third quarter 2018 average realized prices were $55.99 per barrel of oil, $1.90 per Mcf of natural gas and $30.44 per barrel of natural gas liquids, resulting in a total equivalent unhedged price of $46.59/boe, up 22% from $38.25/boe in Q3 2017. The Company adds the items listed above to net income in arriving at Adjusted EBITDA because these amounts can vary substantially from company to company within its industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. 271 0 obj <>stream Frequent CenterPoint outages happen rain or shine,... Beyoncé's second Ivy Park release is on the way. The Company’s derivative contracts are based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on New York Mercantile Exchange West Texas Intermediate pricing and Crude Oil Brent and with natural gas derivative settlements based on the New York Mercantile Exchange Henry Hub pricing. h�b```� �b/@��(���1����������Ϋ� ��Iq��e�����'��n=?d�Ѷm燞&L ���"�&���H�8pt/�{���+G The Company’s computations of Adjusted EBITDA and adjusted net income may not be comparable to other similarly titled measures of other companies or to such measure in our credit facility or any of our other contracts. Phillips 66 exported 187,000 b/d of refined products in Q2. The Company defines Adjusted EBITDA as net income plus non-cash (gain) loss on derivative instruments, net, net interest expense, depreciation, depletion and amortization, non-cash equity-based compensation expense, capitalized equity-based compensation expense, asset retirement obligation accretion expense, gain on revaluation of investment and income tax (benefit) provision. Project: Bluebonnet Market ExpressType: Natural gasBy: Williams Cos. Project: Campanero (Permico)Type: Natural gas liquidsBy: Permico Midstream. Ohio-based refining company Marathon Petroleum Corp. bought Andeavor and its share of the pipeline project in October. The project remains on track to start up in the fourth quarter of this year," said Rosy Zuklic, Phillips 66 Partners' Chief Operating Officer, during Friday's second-quarter 2019 results call. At the time, Phillips 66 Partners had a 75 percent stake in the 900,000 barrel-per-day pipeline, while Andeavor held 25 percent. Here are pipeline projects planned or in progress in Texas. Frequent CenterPoint outages happen rain or shine, customers say, OPEC+ faces growing pressure to change course as ministers meet, Tilman Fertitta’s Golden Nugget in Lake Charles reopens, Chron Exclusive: Pay only $35.99 for this Astros hoodie, These holiday kitchen items are 50% off at Hobby Lobby. Approximately, 80% of the pipe has been installed and all 17 tanks are at cell height. SIGNATURES. Last April, the 850-mile pipeline began service. Also in Pecos County, the Company recently completed two additional tests of the Second Bone Spring. 254 0 obj <>/Filter/FlateDecode/ID[]/Index[232 40]/Info 231 0 R/Length 109/Prev 139931/Root 233 0 R/Size 272/Type/XRef/W[1 3 1]>>stream Following the closing of the Ajax acquisition, Diamondback assumed operations of one additional operated rig, and plans to maintain this cadence for the remainder of 2018. Access latest metal news and analysis, conferences and events. With our commitment to Gray Oak and EPIC, Diamondback has secured waterborne pricing and "wellhead to water" solutions for all of the current and expected production from our existing asset base, while also building value for our midstream business through strategic joint ventures," stated Travis Stice, Chief Executive Officer of Diamondback. Project: Tellurian Premium Global AccessType: Natural gasBy: Tellurian Inc. Project: Shin OakType: Natural gas liquidsBy: Enterprise Products Partners, Project: WhistlerType: Natural gasBy: Targa Resources, NextEra Energy, MPLX, WhiteWater Midstream, Project: Cactus IIType: Crude oilBy: Plains All American, Project: Epic NGLType: Natural gas liquidsBy: Epic Midstream Holdings, Project: Grand PrixType: Natural gas liquidsBy: Targa Resources, Project: Gulf Coast ExpressType: Natural gasBy: Kinder Morgan, Targa Resources, DCP Midstream, Project: Gray OakType: Crude oilBy: Phillips 66, Andeavor, Project: JupiterType: Crude oilBy: Jupiter MLP, Project: Midland to SealyType: Crude oilBy: Enterprise Products Partners, Project: Pecos TrailType: Natural gasBy: NAmerico Energy, Project: Permian HighwayType: Natural gasBy: Kinder Morgan, EagleClaw Midstream, Project: Permian Gulf CoastType: Crude oilBy: Energy Transfer, Magellan, MPLX, Delek. Diamondback's cash operating costs for the third quarter of 2018 were $8.70 per boe, including lease operating expenses ("LOE") of $4.34 per boe, cash general and administrative expenses of $0.78 per boe and taxes and transportation of $3.58 per boe. The Black Stone State 1-12 B 1SB, with a lateral length of 10,081 feet, achieved a peak 30-day flowing IP rate of 121 boe/d per 1,000 feet (91% oil). Gray Oak crude pipe on target for end of 2019 startup: Phillips 66 Partners, Market Movers Americas, Oct 19-23: US midstream watching election runup, COVID resurgence threatens gasoline demand, US ELECTION: Sanctions likely to dominate US-Russia energy links post election. Other partners are Kinder Morgan, Marathon Petroleum and Enbridge. In Block 142 in the eastern third of our acreage, the Neal Lethco A 17-18 1WA was completed with a lateral length of 9,883 feet and achieved an average peak 30-day 2-stream flowing initial production ("IP") rate of 229 boe/d per 1,000 feet (89% oil). if the 5th attempt fails, the account will be locked for 30 minutes, Please use only English characters (A-Z, a-z), You already have an account, Please log in or reset password. This article is exclusive for subscribers. Year-to-date, Diamondback has spent $934 million on drilling, completion and non-operated properties, and $205 million on infrastructure and midstream, while generating free cash flow of $12 million, excluding acquisitions.
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