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

Public Capital , Earnings , Exploration & Production

ConocoPhillips Forecasts Low, Single-digit Oil Production Growth

“We have a lot of capacity in the gas space, both LNG and natural gas,” CEO Ryan Lance added, “and we wanted to augment that with additional LNG liquefaction capacity.”

August 5, 2022

Public Capital , Earnings , Acquisitions & Divestitures

Suncor Energy Quarterly Profit Surges, Plans to Divest Assets

Suncor, Canada’s third-largest oil producer, said it has signed a deal to divest its Norway assets for about $410 million, and has also begun a sale process for its entire U.K. business after receiving interest.

August 5, 2022

Public Capital , Earnings , Shale Plays

ConocoPhillips Sweetens Shareholder Returns by $5 Billion as Profit Jumps

Houston-based ConocoPhillips said the average price received for a barrel of oil and gas rose 77% from a year earlier to $88.57. The company has not hedged any of its oil and gas sales to make the most of higher market prices, it said.

August 4, 2022

Earnings , Shale Plays , Pipelines

Plains All American Raises Outlook on Higher Oil Volumes

Average daily crude oil volumes in the second quarter rose 30% on its Permian Basin pipelines, Plains All American said, with oilfield activity trending about 10% above its initial expectations.

August 4, 2022