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Exxon, Chevron helped drive robust year for dealmaking Smaller producers like Devon, Permian Resources clinched deals Bloomberg News Some shale producers are seeking deals even as the biggest names in oil and gas, Exxon Mobil Corp. and Chevron Corp., remain on the sidelines digesting their mega mergers after a blistering run. Dealmaking activity in the sector is poised …
Oil Patch M&A Wave Recedes While Majors Digest Deals Read More »
The vice president’s past call for a fracking ban raises doubts in the must-win, gas-producing state. Ask Mickey Molinaro, an asphalt worker with a bushy beard and easy-going smile. Harris, in her last White House run, called for a ban on fracking, before reversing her stance this year. And fracking helped Molinaro survive the Great …
Kamala Harris Once Trashed Fracking, and Pennsylvania Hasn’t Forgotten Read More »
Occidental Petroleum on Thursday said it will focus on cutting debt and catching up with promised production goals before an eagerly anticipated expansion of its cash distribution program. The U.S. oil producer posted better-than-expected second quarter results on Wednesday, largely due to strong production in Colorado, lower operating costs and onetime strong midstream earnings, which …
Occidental Delays CrownRock Output Goals, Turns to Debt Reduction Read More »
Lack of pipeline capacity for excess gas hinders profits Firm still expects to beat original 2024 oil output forecasts Diamondback Energy Inc. reduced some of its oil production in the second quarter to trim natural-gas output because there isn’t enough pipeline capacity to ship gas that’s pumped alongside the crude. After years of operators flaring …
Diamondback Curtails Some Oil Production to Reduce Gas Output Read More »
U.S. oil and gas production show further signs of flattening out or turning down, a delayed response to the decline in prices over the last two years after the initial shock caused by Russia’s invasion of Ukraine in early 2022. Total crude and condensates production from the Lower 48 states, excluding federal waters in …
U.S. Oil and Gas Output Curbed by Lower Prices: John Kemp Read More »
(Reuters) – U.S. oil refiner Phillips 66 is cutting more jobs to advance its strategic priorities and improve workforce efficiency, the company said on Tuesday. Phillips 66 spokesperson Al Ortiz confirmed that some jobs were being eliminated. “Phillips 66 continues to look to ways to position our organization to help advance its strategic priorities The …
Chevron Corp said on Sunday that non-essential personnel from its Blind Faith and Petronius facilities in Gulf of Mexico have been removed as Tropical Storm Debby approaches.“There has been no effect to production at our Chevron-operated assets due to the tropical weather,” the company added. Tropical Storm Debby is expected to strengthen rapidly into a …
Chevron Removes Non-Essential Personnel from Gulf of Mexico Sites as Debby Approaches Read More »
Summary Exxon raises 2024 oil and gas output goal to 4.3 million bpd Raises capital spending guidance to $28 billion for 2024 Aims to cut cumulative $5 billion in costs through 2027 Aug 2 (Reuters) – Exxon Mobil (XOM.N) on Friday posted a better-than-expected $9.2 billion second-quarter profit based on rising output from its purchase this year …
Exxon Delivers $9.2 Billion Second-Quarter Profit, Raises Output Target Read More »
(Reuters) – Chevron(CVX.N) reported second-quarter earnings on Friday that missed Wall Street estimates due to industry-wide pressure from lower refining margins and natural gas prices, sending its shares down 1.5% in premarket trading. The company earlier had warned oil output this quarter would slip and refining would suffer from turnarounds at two refineries in California. Refining margins …
Chevron Reports Q2 Earnings Miss on Weak Refining Margins Read More »
Shale driller Ovintiv Inc. increased its 2024 production target, the second explorer to do so this year. The company expects to pump the equivalent of 570,000 to 580,000 barrels of crude this year, compared with the previous forecast of 545,000 to 575,000, according to a statement. At the mid ranges of those targets, the increase would …
Shale-Gas Driller Ovintiv Expands Full-Year Production Targets Read More »
