E&P | Jotup

Hess Reports Estimated Results for the Fourth Quarter of 2023

Retrieved on:

Wednesday, January 31, 2024

E&P net income was $512 million in the fourth quarter of 2023, compared with $641 million in the fourth quarter of 2022.

Key Points:

E&P net income was $512 million in the fourth quarter of 2023, compared with $641 million in the fourth quarter of 2022.
On an adjusted basis, E&P fourth quarter 2023 net income was $531 million, compared with $565 million in the prior-year quarter.
After-tax expense for Corporate, Interest and Other was $162 million in the fourth quarter of 2023, compared with $208 million in the fourth quarter of 2022.
Net cash provided by operating activities was $1,344 million in the fourth quarter of 2023, compared with $1,252 million in the fourth quarter of 2022.

Rapidan Energy Group Welcomes Michael Muhlbach and John Renfro to Executive Sales Team

Retrieved on:

Thursday, January 25, 2024

Rystad Energy, Research, ABN, Data management, Policy, ABN AMRO, Business development, Salomon Brothers, Bear Stearns, E&P, Renewable energy

WASHINGTON, Jan. 25, 2024 /PRNewswire/ -- Rapidan Energy Group has welcomed two new sales executives, Michael Muhlbach, and John Renfro, to support the firm's growing client base and pursue growth opportunities in New York and Houston.

Key Points:

WASHINGTON, Jan. 25, 2024 /PRNewswire/ -- Rapidan Energy Group has welcomed two new sales executives, Michael Muhlbach, and John Renfro, to support the firm's growing client base and pursue growth opportunities in New York and Houston.
The addition of John and Michael complements the firm's broadening and deepening research, data, and advisory services in global energy markets, policy, and geopolitics.
Michael Muhlbach joins Rapidan as Vice President of Investor Solutions and will be based in New York City.
John Renfro joins Rapidan as Vice President of Business Development and will be based in Houston, Texas.

Hess Reports Estimated Results for the Third Quarter of 2023

Retrieved on:

Wednesday, October 25, 2023

During the third quarter of 2023, the Corporation drilled 28 wells, completed 41 wells, and brought 26 new wells online.

Key Points:

During the third quarter of 2023, the Corporation drilled 28 wells, completed 41 wells, and brought 26 new wells online.
In the third quarter of 2023, we sold nine cargos of crude oil from Guyana, compared with eight cargos in the prior-year quarter.
During the third quarter of 2023, a mechanical issue on the Liza Destiny reduced production during the quarter.
Midstream capital expenditures were $65 million in the third quarter of 2023 and $60 million in the prior-year quarter.

Energy Sector Survey Highlights Optimism and Growth in Canadian Energy Industry: Over 88% of Respondents Report a Positive Outlook for the Sector

Retrieved on:

Tuesday, October 17, 2023

ATB Financial, Risk, Carbon, AB, WTI, Institutional research, Energy, Workforce, Growth, Maritime Industrial Services, E&P, Nigerian Upstream Petroleum Regulatory Commission, Optimism, Renewable energy

"Given our extensive coverage of the energy space, ATB Capital Markets is able to offer a distinctive vantage point on insights into the energy sector," said Darren Eurich, CEO of ATB Capital Markets.

Key Points:

"Given our extensive coverage of the energy space, ATB Capital Markets is able to offer a distinctive vantage point on insights into the energy sector," said Darren Eurich, CEO of ATB Capital Markets.
Included in the responses were their perspectives on the sector, outlook for the upcoming year, significant challenges faced, opportunities, and emerging industry trends.
According to the survey, an overwhelming 88% of E&P executives expect production growth in the next 12 months.
Survey participants highlighted federal energy and environmental policies and regulations as the primary concern for the medium-to-long-term outlook of the Canadian energy industry, with 68% expressing concern.

Hess Reports Estimated Results for the Second Quarter of 2023

Retrieved on:

Wednesday, July 26, 2023

E&P net income was $155 million in the second quarter of 2023, compared with $723 million in the second quarter of 2022.

Key Points:

E&P net income was $155 million in the second quarter of 2023, compared with $723 million in the second quarter of 2022.
After-tax expense for Corporate, Interest and Other was $98 million in the second quarter of 2023, compared with $121 million in the second quarter of 2022.
Midstream capital expenditures were $52 million in the second quarter of 2023 and $72 million in the prior-year quarter.
Net cash provided by operating activities was $974 million in the second quarter of 2023, compared with $1,509 million in the second quarter of 2022.

SLB Awarded Five Year Contract for Petrobras’ Digital Transformation

Retrieved on:

Thursday, July 6, 2023

SLB (NYSE: SLB) has been awarded a five-year contract by Petrobras for an enterprise-wide deployment of its Delfi™ digital platform.

Key Points:

SLB (NYSE: SLB) has been awarded a five-year contract by Petrobras for an enterprise-wide deployment of its Delfi™ digital platform.
The contract scope covers Petrobras’ digital transformation from exploration, development, and production operations, including moving subsurface workflows to the cloud to significantly accelerate decision making.
“By leveraging AI, machine learning, and high-performance computing technology from SLB, Petrobras will drive aggressive efficiency and production increases across its E&P business,” comments Rakesh Jaggi, president, Digital & Integration, SLB.
The large investment in SLB digital technology for E&P by Petrobras is part of its plan to increase total operations production.

Canacol Energy Ltd. Provides Gas Sales and Drilling Update

Retrieved on:

Wednesday, July 5, 2023

Pressure, Ciénega, API, Gran Tierra Energy, Porosity, CDO, Spondias mombin, Corporation, E&P, CNE, THP, TSX, Oil, Natural gas, Petroleum

CALGARY, Alberta, July 05, 2023 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to provide the following gas sales and operations update.

Key Points:

CALGARY, Alberta, July 05, 2023 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to provide the following gas sales and operations update.
Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 186 million standard cubic feet per day for June 2023.
Chimela is located approximately 7 kilometers from the Acordionero field operated by Gran Tierra Energy.
Malfadine 1 is also targeting gas charged reservoirs within the CDO sandstone and will take 3 weeks to drill and complete.

Canacol Energy Ltd. Encounters 230 Feet of Net Gas Pay in the Lulo 2 Well and Provides a Gas Sales Update

Retrieved on:

Tuesday, June 6, 2023

Porosity, Corporation, Spondias mombin, E&P, CNE, TSX, Ciénega, Oil, Natural gas, Solanum quitoense

CALGARY, Alberta, June 06, 2023 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to provide the following information concerning the Lulo 2 well and May 2023 natural gas sales.

Key Points:

CALGARY, Alberta, June 06, 2023 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to provide the following information concerning the Lulo 2 well and May 2023 natural gas sales.
Realized contractual natural gas sales (which are gas produced, delivered, and paid for) were 189 million standard cubic feet per day for May 2023.
The Lulo 2 appraisal well, located on the 100 percent operated VIM21 Exploration and Production (“E&P”) contract, reached total depth of 7,112 feet measured depth on June 1, 2023.
The well encountered 230 feet true vertical depth of net gas pay with average porosity of 20 percent within the primary Cienaga de Oro (“CDO”) sandstone reservoir.

Black Bay Completes the Sale of NexGen Chemical Technologies to Foremark Performance Chemicals

Retrieved on:

Wednesday, May 17, 2023

Black Bay Energy Capital (“Black Bay”), a private equity firm focused on the North American energy and chemical sectors, has announced the sale of NexGen Chemical Technologies (“NexGen”) to Foremark Performance Chemicals (“Foremark”), a portfolio company of SK Capital Partners (“SK Capital”).

Key Points:

Black Bay Energy Capital (“Black Bay”), a private equity firm focused on the North American energy and chemical sectors, has announced the sale of NexGen Chemical Technologies (“NexGen”) to Foremark Performance Chemicals (“Foremark”), a portfolio company of SK Capital Partners (“SK Capital”).
Foremark’s acquisition of NexGen will enable rapid scale-up of manufacturing for ScavGen™ 1014, NexGen’s flagship chemical technology.
Black Bay, Chris Williamson, and James Begeal founded NexGen in 2018 to deliver high performing, differentiated chemical solutions for treating sour natural gas (also known as natural gas sweetening).
“The NexGen team has embodied what Black Bay looks for in a portfolio company management team.

Canacol Energy Ltd. Announces New Gas Discovery at Lulo 1, Provides Test Results for the Saxofon 1 and Dividivi 1 Gas Discoveries, and Provides a Gas Sales Update

Retrieved on:

Wednesday, May 3, 2023

3D, VIM, Porosity, Salinity, CDO, Spondias mombin, Technische Universität Darmstadt, Corporation, E&P, Interval, Water, CNE, THP, TSX, TGI, Natural gas, Oil, Solanum quitoense

Realized contractual natural gas sales (which are gas produced, delivered, and paid for were 180 million standard cubic feet per day (“MMscfpd”) for April 2023.

Key Points:

Realized contractual natural gas sales (which are gas produced, delivered, and paid for were 180 million standard cubic feet per day (“MMscfpd”) for April 2023.
The success at Lulo has opened an area of deeper potential within the CDO in and around the main producing area that the Corporation intends to pursue aggressively.
Upon completion of the well the Corporation plans to immediately drill the Lulo 2 well to appraise the extent of the discovery.
The Corporation is currently preparing to execute a long-term flow test of the well in order to formulate a commercial development plan for the discovery.