July 2023

Revenue of $926.6 million, decreased 1% year-over-year Net income attributable to ChampionX of $95.8 million, increased 250% year-over-year Adjusted net income of $99.1 million, increased 67% year-over-year Adjusted EBITDA of $186.2 million, increased 35% year-over-year Income before income taxes margin of 11.7%, increased 874 basis points year-over-year Adjusted EBITDA margin of 20.1%, increased 527 basis points year-over-year Cash from operating activities of $115.9 million and free cash flow of $88.8 million …

ChampionX Reports Second Quarter 2023 Results Read More »

U.S. natural gas futures slid about 2% on forecasts of less demand this week and less hot weather over the next two weeks than previously expected. Even though the weather will be less hot than previously forecast, it will still be hotter than normal through mid-August, especially in Texas. Power demand in Texas hit a …

US natgas prices slip 2% on forecasts of less hot weather, demand Read More »

California’s main power grid operator issued an emergency watch notice for Tuesday evening as residents cranked up air conditioning during a heat wave.Energy use could outstrip available supplies and result in possible electricity shortages, the California Independent System Operator warned in a statement posted to its website. The grid operator was encouraging market participants to offer …

California Issues Emergency Watch for Power Grid Amid Heat Wave Read More »

LONDON, July 26 (Reuters) – Oil prices edged lower on Wednesday, with investors cautious ahead of an expected Federal Reserve rate hike later in the day and a spike in U.S. crude supplies. Brent crude futures was down 85 cents to $82.79 a barrel by 1026 GMT, while U.S. West Texas Intermediate (WTI) crude was …

Oil Dips Ahead of Fed Rate Decision Read More »

Pipelines are an essential transportation hub for delivering energy to homes, businesses, industrial plants, and other entities, across North America. For example, Canada and the U.S. are home to more than 144,840 km (90,000 miles) of crude oil pipelines, along with more than 140 refineries that can process around 20 million barrels of oil every day. …

Engineering and System Integration – Adding Value to the Pipeline Industry Read More »

FORT WORTH, Texas, July 24, 2023 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its second quarter 2023 financial results. Second Quarter 2023 Highlights – Cash flow from operating activities of $127 million Cash flow from operations, before working capital changes, of $187 million Capital spending was $175 million, approximately 30% of the 2023 budget Production …

Range Announces Second Quarter 2023 Results Read More »

U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals. U.S. oil exploration and production deals last quarter soared to $24 billion – nearly three times that of the first quarter, energy analytics firm Enverus disclosed on Tuesday. There …

U.S. Oil M&A Jumps as Private Equity Unloads Shale Assets Read More »

Shell and Chevron’s agreements to sell stakes in major Indonesian gas projects to Pertamina, Petronas and Eni will unleash development at the fields, enabling the country to boost its flagging output, the buyers said. Indonesia has seen declining oil and gas production in recent years due to depleting reserves, and as major new projects face delays due to oil …

Indonesia’s big gas projects to proceed after global majors sell stakes Read More »

Courtesy of Wikipedia.org Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Gasoline market indicators, much like that cutie across the bar, are giving confusing and conflicting signs. What happened: Reuters recently published a study of just how decidedly undecided the US gasoline demand forecast is for the remainder of the year. A mixed bag of signals, …

US Gasoline Demand Signals – ENERGYminute Read More »

Summary Difficulties in forecasting the rate of gasoline demand decline Fuel efficiency at record high, EV sales ticking up Customers buying gas-guzzling SUVs at a record pace Refiners likely to shift to petchem markets, exports Midwest refining could shrink as domestic demand wanes July 24 (Reuters) – While U.S. gasoline demand is unlikely to rescale …

Analysis: Bumpy road ahead for US gasoline demand and energy transition Read More »