Exploration & Production

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Macron Urges TotalEnergies to Stay in France After Talk of U.S. Listing

Energy Topics & Technology, Exploration & Production, Latest, US News / By

(Reuters) – France supports companies that believe in the country, its President Emmanuel Macron said in an interview published on Wednesday, in response to a question on oil major TotalEnergies’  potential pursuit of a U.S. listing. WHY IT’S IMPORTANT A pillar of France’s CAC 40 blue chip index, TotalEnergies is one of the world’s largest oil …

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More State Officials Oppose Exxon Directors Over Climate Lawsuit

Energy Topics & Technology, Environment, Exploration & Production, Latest, US News / By

A group of state financial officers and other public and labor leaders called on Tuesday for major asset managers to vote against top Exxon directors, citing the U.S. oil company’s ongoing lawsuit against climate activists. The group including New York City Comptroller Brad Lander and the state treasurers of Connecticut, Nevada and other states called …

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Moscow Takes Control Over Assets of Western Companies – Here Are the Companies Affected So Far

CDN and International News, Energy Topics & Technology, Exploration & Production, Latest, OFS-Oilfield Services / By

Kremlin has been seizing assets of some Western companies in Russia through decrees signed by President Vladimir Putin and court orders related to lawsuits over halted projects or blocked funds amid Western sanctions. Below is a list of the companies affected so far. AGROTERRA Russia seized companies belonging to agricultural group AgroTerra and placed them …

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U.S. Oil Output in Top Shale Regions to Hit Six-Month High in June, EIA Says

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, Pinned Primary, US News / By

U.S. oil output from top shale-producing regions will rise in June to its highest in six months, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday.Production in the top basins will reach 9.85 million barrels per day (bpd), its highest since December, the EIA said. Shale production, which represents …

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Australia Backs Long-Term Gas Exploration Despite 2050 Climate Goals

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, LNG, Natural Gas / By

Australia’s resources minister said on Thursday she backs the long-term exploration of potential natural gas projects, setting up a potential clash with opposition lawmakers and some in the incumbent Labor Party that oppose its use. Australia, one of the world’s largest producers of liquefied natural gas (LNG), is committed to reducing its emissions to net …

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BP Softens Tone on 2030 Oil Output Cut to Reassure Investors

CDN and International News, Energy Topics & Technology, Exploration & Production, Latest / By

BP softened the language on its pledge to cut its 2030 oil and gas output in an effort to reassure investors over its energy transition strategy and narrow a gaping value gap with rivals. CEO Murray Auchincloss has in recent months pivoted the London-based firm’s strategy to focus heavily on returns. He has been less …

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Kimmeridge Calls SilverBow ‘Worst-in-Class’ as Proxy Fight Heats

Energy Topics & Technology, Exploration & Production, Finance, Latest, US News / By

Kimmeridge Energy Management Co. said shale driller SilverBow Resources Inc.’s board prioritizes itself over investors as the proxy battle comes to a head. “The Board’s worst-in-class corporate governance that prioritizes itself and management over shareholder returns appears to have permeated throughout the entire organization in a cyclical, self-serving manner,” Kimmeridge wrote in a presentation Tuesday. This is …

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Big Oil Needs to Figure Out Its Strategy, and Fast

Conventional Energy, Energy Topics & Technology, Exploration & Production, Finance, Latest, Oil, US News / By

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 …

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BP Ends Big Oil Earnings with Maintained Share Buybacks

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, US News / By

Payouts from the world’s biggest international oil companies hit a record US$114 billion last year Bloomberg News BP PLC maintained the pace of its share buybacks even as first-quarter profit and cash flow fell by more than expected and net debt increased. The result marks the end of a mixed set of Big Oil earnings which saw Shell PLC, TotalEnergies SE and Chevron …

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After the Deal: Exxon to Take up to Two Years to hit Stride with Pioneer Purchase

Energy Topics & Technology, Exploration & Production, Latest, Pinned Primary / By

Exxon Mobil will take 18 to 24 months to achieve its desired production synergies from its $60 billion purchase of U.S. shale oil producer Pioneer Natural Resources, the company’s top shale executive said on Friday. Exxon this week closed all-stock acquisition after agreeing to an antitrust consent order that barred the former Pioneer CEO from joining …

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