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Evolution Petroleum Reports Third Quarter Fiscal 2024 Results and Declares Quarterly Cash Dividend for the Fiscal 2024 Fourth Quarter

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火曜日, 5月 7, 2024

LOE, NGL, International, Central Time, Natural gas, Interest, Hand, Webcast, BOPD, Public expenditure, Senior, Henry Hub, DUC, Jonah Field, Tax, MCF, Line of credit, SCOOP, Phase 5, CO2, Evolution, GAAP, G&A, BBL

Evolution reported $23.0 million in total revenue for the current quarter, a 10% increase from the prior quarter.

Key Points:

Evolution reported $23.0 million in total revenue for the current quarter, a 10% increase from the prior quarter.
On a per unit basis, total LOE decreased 10% from $21.31 per BOE in the prior quarter to $19.24 in the current quarter.
Evolution expects to receive the remaining net cash flows at the final post-closing settlement occurring during the fourth quarter of fiscal 2024.
As previously announced, Evolution Petroleum will host a conference call on May 8, 2024, at 10:00 a.m. Central Time to review its third quarter fiscal 2024 financial and operating results.

Southwestern Energy Announces First Quarter 2024 Results

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木曜日, 5月 2, 2024

Other Energy, Mining, Minerals, Utilities, Oil, Gas, Energy, Natural Resources, Henry Hub, Transport, NYMEX, Bank

For the quarter ended March 31, 2024, Southwestern Energy recorded a net loss of $1.5 billion, or ($1.39) per diluted share.

Key Points:

For the quarter ended March 31, 2024, Southwestern Energy recorded a net loss of $1.5 billion, or ($1.39) per diluted share.
As of March 31, 2024, Southwestern Energy had total debt of $4.0 billion and net debt to adjusted EBITDA (non-GAAP) of 1.9x.
At the end of the quarter, the Company had $270 million of borrowings under its revolving credit facility and no outstanding letters of credit.
As indicated in the table below, first quarter 2024 weighted average realized price was $2.20 per Mcfe, excluding the impact of derivatives and net of $0.27 per Mcfe of transportation expenses.

CoBank Quarterly: Sticky Inflation Puts Federal Reserve on the Horns of a Dilemma

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木曜日, 4月 11, 2024

While inflation rates are trending in the right direction, they remain higher than ideal.

Key Points:

While inflation rates are trending in the right direction, they remain higher than ideal.
The Federal Reserve has assured interest rate cuts are coming this year.
“Inflation is proving to be more difficult to tamp down than expected,” said Rob Fox , director of CoBank’s Knowledge Exchange.
To date, neither the House of Representatives nor the Senate Agriculture committees have released text to reauthorize the farm bill.

ICE Reports Record Open Interest Across its Global Natural Gas Markets with Record Trading Activity in Natural Gas Options

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木曜日, 4月 11, 2024

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced record open interest (OI) across its global natural gas futures and options markets as well as record trading activity in global natural gas options.

Key Points:

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced record open interest (OI) across its global natural gas futures and options markets as well as record trading activity in global natural gas options.
On March 22, 2024, ICE’s global natural gas futures and options hit record OI of 40.2 million contracts, up 29% year-over-year (y/y).
Meanwhile, ICE’s U.S. financial gas markets hit record OI of over 11 million futures and options contracts on April 1, 2024.
ICE’s global natural gas portfolio is one part of its global energy markets which are the most liquid in the world to trade energy derivatives.

EQS-News: Deutsche Rohstoff AG: Reserve report 2024 - Value of oil and gas reserves increases despite record production in the previous year and sale of Utah assets

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水曜日, 3月 13, 2024

USD, Investment, Growth, Sale, Partner, WTI, OPEX, Henry Hub, CAPEX, Oil

Deutsche Rohstoff AG today published the results of its annual oil & gas reserve reports.

Key Points:

Deutsche Rohstoff AG today published the results of its annual oil & gas reserve reports.
The reserve values are calculated using the oil price (WTI) and natural gas forward curve as of 31 December 2023.
Proved developed producing reserves increased by 28% to 18.9 million BOE (52% oil) (previous year: 14.8 million BOE/42% oil).
The discounted value of the producing wells amounts to USD 313 million as of 31 December 2023 (previous year: USD 246 million).

Bayou City Energy Publishes White Paper “Natural Gas Producers: Why Don’t You Stay?”

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水曜日, 3月 6, 2024

Oil, Gas, Energy, BCE, Depression, Henry Hub

Bayou City Energy (“BCE”), an E&P-focused private equity firm, today published a white paper titled, “ Natural Gas Producers: Why Don’t You Stay?

Key Points:

Bayou City Energy (“BCE”), an E&P-focused private equity firm, today published a white paper titled, “ Natural Gas Producers: Why Don’t You Stay?
US natural gas companies continue to rely on misguided framing in comparing themselves to only the other dry gas producers when ranking drilling inventory competitiveness, thereby justifying the decision to bring on more gas volumes.
It’s imperative to acknowledge that dry natural gas basins do not produce the lowest cost molecule particularly relative to associated gas molecules.
The 2024 outlooks from major public pure play gas producers were encouraging, but not enough, to remedy our depressed natural gas markets.

NOG Provides Fourth Quarter 2023 Operations Update and Preliminary 2024 Guidance

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木曜日, 2月 15, 2024

Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced a fourth quarter 2023 operations update, also highlighting elective Ground Game acquisitions, and preliminary 2024 guidance.

Key Points:

Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced a fourth quarter 2023 operations update, also highlighting elective Ground Game acquisitions, and preliminary 2024 guidance.
Fourth quarter 2023 production estimated to be 114.4 Mboe per day, resulting in annual production toward the high end of NOG’s guidance range
Production volumes in the fourth quarter of 2023 are estimated to have averaged 114.4 Mboe per day.
Consequently, NOG incurred approximately $50 million of capital in the fourth quarter that was previously planned for 2024.
NOG expects first quarter 2024 production volumes to be slightly lower than the fourth quarter of 2023.

CHESAPEAKE ENERGY CORPORATION, DELFIN LNG AND GUNVOR SIGN LONG-TERM LNG LIQUEFACTION OFFTAKE AGREEMENT INDEXED TO JAPAN KOREA MARKER

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火曜日, 2月 13, 2024

FOB, JKM, Natural gas, Carbon, Executive Committee, HOA, SPA, Henry Hub, Chesapeake Energy

OKLAHOMA CITY, Feb. 13, 2024 /PRNewswire/ -- Chesapeake Energy Corporation (NASDAQ: CHK, together with certain of its subsidiaries, collectively, "Chesapeake"), Delfin LNG LLC ("Delfin") and Gunvor Group Ltd, through Gunvor Singapore Pte Ltd ("Gunvor"), today announced the entrance into a liquefied natural gas (LNG) export deal that includes executed Sales and Purchase Agreements ("SPA") for long-term liquefaction offtake.

Key Points:

OKLAHOMA CITY, Feb. 13, 2024 /PRNewswire/ -- Chesapeake Energy Corporation (NASDAQ: CHK, together with certain of its subsidiaries, collectively, "Chesapeake"), Delfin LNG LLC ("Delfin") and Gunvor Group Ltd, through Gunvor Singapore Pte Ltd ("Gunvor"), today announced the entrance into a liquefied natural gas (LNG) export deal that includes executed Sales and Purchase Agreements ("SPA") for long-term liquefaction offtake.
These volumes will represent 0.5 mtpa of the previously announced up to 2 mtpa HOA with Gunvor.
We are pleased to formalize our agreement which provides diversification and access to global LNG pricing while enabling the delivery of affordable, reliable, lower carbon energy to markets in need."
Dudley Poston, Delfin CEO, said: "We are excited to partner with a premier company like Chesapeake.

Equinor fourth quarter and full year 2023 results

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水曜日, 2月 7, 2024

Policy, Growth, Senior, Danske Commodities, Lindworm, RRR, Continental shelf, USD, Henry Hub, Dogger Bank, Tax, BP, Carbon, Use, Investment, NOK, New York Stock Exchange, EQNR, CCS, CO2, Forward, Kilowatt-hour, Sale, NCS, Energy, Empire Wind, Renewable energy

Equinor delivered strong production for the fourth quarter of 2,197 mboe per day, up from 2,046 in the same quarter of 2022, driving production growth for 2023 to 2.1%, above the updated guidance of 1.5%.

Key Points:

Equinor delivered strong production for the fourth quarter of 2,197 mboe per day, up from 2,046 in the same quarter of 2022, driving production growth for 2023 to 2.1%, above the updated guidance of 1.5%.
Equinor delivered strong adjusted earnings* of USD 8.68 billion and USD 1.88 billion after tax in the fourth quarter.
In the fourth quarter, Equinor recognised net impairments of USD 328 million, mainly related to the announced sale of assets and exit from Azerbaijan.
Equinor paid two ordinary NCS tax instalments in the fourth quarter and an extra instalment in October, totalling at USD 7.9 billion.

Evolution Petroleum Reports Second Quarter Fiscal 2024 Results and Declares Quarterly Cash Dividend for the Fiscal 2024 Third Quarter

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火曜日, 2月 6, 2024

Carbon, ExxonMobil, GAAP, International, NGL, Tax, Jonah Field, Interest, Transport, Henry Hub, BOPD, Evolution, Public expenditure, MCF, LOE, Central Time, Acquisition, Natural gas, Webcast

Evolution reported $21.0 million of total revenue for the current quarter, a 2% increase from the prior quarter.

Key Points:

Evolution reported $21.0 million of total revenue for the current quarter, a 2% increase from the prior quarter.
Lease operating costs (“LOE”) increased $0.5 million, or 4% from $11.9 million in the prior quarter to $12.4 million in the current quarter.
During the second quarter of fiscal 2024, the Company fully funded operations, development capital expenditures, and cash dividends through cash generated from operations and working capital.
As previously announced, Evolution Petroleum will host a conference call on February 7, 2024, at 10:00 a.m. Central Time to review its second quarter fiscal 2024 financial and operating results.