Earnings , Markets , International

EU Proposes Windfall Levies on Energy Firms to Ease Price Pain

“In these times, profits must be shared and channeled to those who need it most,” European Commission President Ursula von der Leyen told the EU Parliament.

September 14, 2022

Earnings , Markets , International

EU Plans to Make Fossil Fuel Firms Share Excess Profits

The EU measure would apply to an energy company’s surplus profits from 2022 at a level to be specified above the average taxable profits in the three fiscal years since January 2019, the draft said.

September 12, 2022

Earnings , Shale Plays

Oil Producers to See Record Surplus Cash from High Prices

The next couple of years are key for strategy decisions as oil producers should generate most of that added surplus cash—or $1 trillion—by 2024, Deloitte says.

August 26, 2022

Earnings , Shale Plays

Analysts Remain Cautious About Argentina’s YPF

Argentina’s macro environment will continue to weigh on state-owned shale producer YPF despite strong second-quarter financial results that benefitted from robust commodity prices and a strong recovery in energy demand across the South American country. 

August 17, 2022

Earnings , Mergers

Beach Energy Results Disappoint; M&A Sought in Australia, New Zealand

As its shares tumble 13%, CEO says Beach is holding its capital in pursuit of acquisitions.

August 15, 2022

Earnings , Energy Transition

Orsted Raises 2022 Outlook as Poor Quarter Hits Shares

European power crunch will likely lead to hike in EBITDA.

August 11, 2022

Earnings , Energy Transition

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

Earnings , Shale Plays , Joint Ventures

Occidental Petroleum Extends Permian Basin JV through 2025

Occidental President and CEO Vicki Hollub said, among record earnings results, Oxy would extend its Permian JV with Ecopetrol in the Midland and Delaware basins to encompass 20,000 net acres.

August 7, 2022

Earnings , Exploration & Production , Shale Plays

EOG Resources Sticks to 4% Annual Output Growth

“Oilfield service capacity remains extremely tight and is further constrained by the limited availability of materials and experienced labor,” EOG Resources COO Billy Helms told investors.

August 5, 2022

Public Capital , Earnings , Exploration & Production

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%.

August 5, 2022