Faced with a mixed bag of earnings, shareholders are looking for direction. Bloomberg The world’s oil supermajors wrapped up earnings season leaving investors with more questions than answers. BP Plc was last to report, missing estimates and suggesting it’ll do more deals in low-carbon energy — despite pledging to dial back renewables investments and focus on the core fossil-fuel …
Big Oil Needs to Figure Out Its Strategy, and Fast Read More »
(Reuters Breakingviews) – Patrick Pouyanné is seriously considering a U.S. primary listing for his $170 billion oil major TotalEnergies. The French company’s chairman and CEO will report back to his board by September. It shouldn’t take that long to decide that the move is a bad idea. Pouyanné’s main reason for considering the move is that U.S.-based …
(Reuters) – TC Energy’s planned oil pipeline spin-off is a bet that it can supply more Canadian crude to U.S. Gulf of Mexico refiners, but the venture faces stiff competition and will carry high debt when it starts up. The South Bow spin-off, which TC investors will vote on June 4, will help Calgary, Alberta-based TC …
TC Energy’s Oil Pipeline Spin-Off Faces Obstacles in Bet on U.S. Gulf Read More »
Oil and gas producers Santos and Repsol are exploring a sale of a minority stake in oilfields in Alaska they jointly own and develop in a deal that could be worth about $1 billion, according to people familiar with the matter. The oilfields include the Pikka project, which is one of the largest oil prospects in Alaska …
Energy Producers Santos, Repsol Explore Sale of Stakes in Alaska Oilfields Read More »
A drop in crude oil prices has put the U.S. back in the market for replenishing the Strategic Petroleum Reserve after selling off a record amount of crude from the stockpile in 2022. A little more than a month ago the Department of Energy canceled the purchase of about 3 million barrels of oil for …
Lower Oil Puts U.S. in Market to Buy for Strategic Petroleum Reserve, For Now Read More »
U.S. natural gas production will decline in 2024 while demand will rise to a record high, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will ease from a record 103.79 billion cubic feet per day (bcfd) in 2023 to 102.99 bcfd in …
U.S. Natgas Output to Decline in 2024, While Demand Rises to Record High, EIA Says Read More »
Crescent Energy also reported companywide growth in D&C speeds, while well costs have declined 10%.
World oil demand is expected to grow lesser this year than earlier estimates and output should grow faster than thought previously, resulting in a more balanced market, the U.S. Energy Information Administration (EIA) said on Tuesday. The agency hiked its production forecasts from regions outside the Organization of Petroleum Exporting Countries (OPEC), while also lowering …
EIA Cuts World Oil Demand Forecast for 2024, Hikes Output Expectations Read More »
Strong Shareholder Returns Underpinned by Continued Operational Excellence Highlights: Generated net earnings of $338 million, cash from operating activities of $659 million, Non-GAAP Cash Flow of $1,035 million and Non-GAAP Free Cash Flow of $444 million after capital expenditures of $591 million First quarter production was at the high-end or above the guidance range on every product with average total production volumes …
Ovintiv reports first quarter 2024 financial and operating results Read More »
Evolution Petroleum said the company added 300 gross undeveloped locations and more than a dozen DUCs.
