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Production Lending Closes $35 Million Loan to Private Permian Basin Operator
Proceeds from the Production Lending loan will be used by the private, Midland, Texas-based oil and gas company to drill and complete six horizontal wells in the northern Midland Basin.
BPX Amps Up Permian, Plans $1.7 Billion Spend in US this Year
BPX Energy President Jack Collins said the company is planning to power 95% of its Permian Basin operations with electricity this year and is drilling an exploratory well for its carbon capture business.
APA Aims to Reward Shareholders Over 50% of Free Cash Flow by Year-end
APA Corp. eyes returning at least $1.8 billion of its capital to shareholders through dividends and share buybacks by year-end while also lowering its production guidance for 2022 by 2%.
Petrobras Reveals Shareholder Distribution Driven by Debt Reduction
Brazil’s state-owned Petrobras announced further reduction in its gross debt to $53.6 billion and a shareholder remuneration of $16.8 billion to holders of common and preferred shares.
More Top Stories in Business
Ecopetrol Committed to Long-term $2.5 Billion Hydrogen Strategy
The decarbonization plan of Ecopetrol, Colombia’s largest oil and gas producer, includes a commitment to produce 1 million tonnes per annum of green, blue and white hydrogen by 2040.
August 9, 2022
Production Lending Closes $35 Million Loan to Private Permian Basin Operator
Proceeds from the Production Lending loan will be used by the private, Midland, Texas-based oil and gas company to drill and complete six horizontal wells in the northern Midland Basin.
August 9, 2022
Grey Rock Forms Partnership with Conduit Power to Pursue Electrification Strategy
To help stabilize the fluctuating cost of electrifying industrial activities, Grey Rock is investing $100 million in Conduit Power and its electrification services.
August 9, 2022
ESG Strategy: Battling Climate Change Alongside Inflation
While establishing energy security is currently the main priority of oil and gas companies, many haven’t forgotten the importance of allocating attention and funds combating climate change, experts say.
August 9, 2022
Capricorn Should Ditch Tullow Merger Deal, Investor Says
“The proposed merger appears to us to be a poorly disguised nil-premium takeover of Capricorn by Tullow,” said the letter which was dated Aug. 9 and signed by Palliser Capital (UK) Chief Investment Officer James Smith.
August 9, 2022
Comstock Resources Turns to Gas-powered Fracking to Help Offset Inflation
Comstock Resources reported it saved between $12,000 to $20,000 pre fracking stage since switching to natural gas-powered frac equipment.
August 9, 2022
Devon Energy Doubles its Eagle Ford Footprint in $1.8 Billion Deal
Devon Energy’s acquisition of Eagle Ford operator Validus Energy is the firm’s second acquisition since June.
August 9, 2022
Berkshire Hathaway Boosts Occidental Petroleum Stake above 20%
A 20% stake would let Warren Buffett’s Berkshire Hathaway report its proportionate share of Houston-based Occidental Petroleum’s earnings with operating results, through the so-called equity method of accounting.
August 9, 2022
BPX Amps Up Permian, Plans $1.7 Billion Spend in US this Year
BPX Energy President Jack Collins said the company is planning to power 95% of its Permian Basin operations with electricity this year and is drilling an exploratory well for its carbon capture business.
August 9, 2022
Cenovus Energy to Buy Remaining Stake in Ohio Refinery for $300 Million
Calgary, Alberta-based Cenovus Energy has owned 50% of the refinery since its combination with Husky Energy in 2021.
August 8, 2022