Exploration & Production

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Diamondback Sells $5.5 Billion of Bonds for Endeavor Deal

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

The five-part offering includes a $1 billion, 40-year tranche M&A-related financing is helping fuel record high-grade sales Diamondback Energy Inc. borrowed $5.5 billion in the US investment-grade market to partly help fund its $26 billion takeover of Endeavor Energy Resources LP, joining other blue-chip companies capitalizing on robust investor demand to bring acquisition-related debt deals. Diamondback sold the bonds …

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Shell at Disadvantage to U.S.-Listed Rivals, says Former CEO

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

Shell’s former CEO, Ben van Beurden, said on Tuesday that European oil and gas companies will find it increasingly difficult to compete with U.S.-listed rivals. There are “a deeper pool of investors and capital in New York and the attitude is more positive towards oil and gas companies,” van Beurden, who stepped down in 2021, …

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BP Expects Rise in First-Quarter Upstream Energy Output

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

(Reuters) – BP  said on Tuesday it expects first-quarter upstream production of both oil and gas as well as low-carbon energy to be higher than the previous three months. The London-listed oil major also expects strong results in oil and gas trading, along with a $100 million-$200 million boost from improved oil refining margins. Lower …

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Mexico to Cut at Least 330,000 Bpd of Crude Exports in May, Sources Say

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

Mexico’s state energy company, Pemex, is planning to cut at least 330,000 barrels per day (bpd) of crude exports in May, leaving customers in the United States, Europe and Asia with a third less supply, two sources said. The plan follows the withdrawal of 436,000 bpd of Maya, Isthmus and Olmeca crudes this month, ordered …

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Shell first quarter 2024 update note

Energy Topics & Technology, Exploration & Production, Latest, Press Releases / By

The following is an update to the first quarter 2024 outlook and gives an overview of our current expectations for the first quarter. Outlooks presented may vary from the actual first quarter 2024 results and are subject to finalisation of those results, which are scheduled to be published on May 2, 2024. Unless otherwise indicated, …

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U.S. Oil and Gas Output was Severely Hit by Winter Storm: John Kemp

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

U.S. oil production dropped sharply at the start of the year as exceptionally cold weather for ten days in the middle of January caused widespread freeze offs at oil wells. Nationwide crude and condensates output was down by almost 24 million barrels or 0.8 million barrels per day (b/d) in January 2024 compared with December …

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U.S. Natural Gas Demand for LNG Falls as Cheniere Reduces Output

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

There was a significant decline on Tuesday in the amount of U.S. natural gas being liquefied for export with a drop in demand from Cheniere Energy’s Corpus Christi plant in Texas and its Sabine Pass operation in Louisiana, according to data from financial firm LSEG. Cheniere is the largest U.S. producer and the world’s second …

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Oil Bosses Rip Biden Policies Even as U.S. Production Soars

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

Executives remain steadfast in their criticism even as many fossil-fuel companies thrive. The anonymous comments from shale-oil executives in the Federal Reserve Bank of Dallas’ quarterly energy survey are rarely complimentary to President Joe Biden and his policies. The remarks in last week’s edition, however, were particularly notable given the apparent state of the market. The US …

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U.S. March LNG Exports Flat as Freeport Plant Woes Continue

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

U.S. exports of liquefied natural gas (LNG) fell slightly in March to 7.61 million metric tons (MT) from 7.73 MT in February as production of the superchilled gas from the country’s second largest exporter remained constrained, preliminary data from financial firm LSEG showed on Monday. But the U.S. was the largest exporter of LNG last …

U.S. March LNG Exports Flat as Freeport Plant Woes Continue Read More »

Kimmeridge Ready to Negotiate Proposed Offer for SilverBow After Latest Rebuff

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

Kimmeridge Energy Management said on Monday it remained ready to engage with SilverBow Resources over its takeover bid, days after the U.S. oil and gas producer rejected the latest offer that valued it at $2.1 billion including debt. The activist investor, the top shareholder in SilverBow, in an open letter said the company did not …

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