Saudi Aramco is moving ahead with plans to boost crude output capacity by 1 million bbl/d to 13 million bbl/d despite cuts in capex this year and next year, CEO Amin Nasser says.
Occidental Petroleum posted its fourth straight quarterly loss on Aug. 10 as it recorded a $6.6 billion impairment charge, largely to write down the value of its properties following a crash in oil prices.
Duke Energy said it took a $1.6 billion after-tax charge for the cancellation of the Atlantic Coast natural gas pipeline. Project partner Dominion already took a $2.8 billion charge related to the cancellation.
Canadian Natural Resources’ agreement to acquire Montney producer Painted Pony follows the acquisition of Kelt Exploration’s position in the shale gas play by ConocoPhillips late last month.
Saudi Aramco is sticking with plans to pay $75 billion in dividends this year and CEO Amin Nasser said global oil demand was recovering.
Riviera Resources engaged EnergyNet to market its remaining upstream assets, CEO David Rottino says, with plans for the transactions to close by fourth-quarter 2020.
Terrence M. Pegula joins other NFL owners, most notably Dallas Cowboys owner Jerry Jones, in making large new investments during a stagnant time for the oil and gas industry.
EOG Resources said it started to restore curtailed production in June as oil prices recovered from their April lows, and it expects nearly all shut-in wells to begin production before the third quarter ends.