Malaysian state oil firm Petronas on May 31 posted a more than doubling in first-quarter profit on the back of a recovery in commodity prices and lower overall costs.
The world's fourth-biggest LNG exporter said post-tax profit was 9.3 billion ringgit ($2.25 billion) for the January to March period, against 4.5 billion ringgit in the same quarter last year.
($1 = 4.1250 ringgit)
NextDecade also noted the management experience of newly appointed COO Ivan Van der Walt on multiple LNG projects over his nearly 30 years of experience in the global energy industry.
Denbury Resources and Penn Virginia mutually agreed to terminate their merger after the $1.7 billion cash-and-stock transaction faced difficult market conditions and shareholder opposition.
The acquisition of Jagged Peak will more than double Parsley Energy’s position in the Delaware Basin, where the companies expect to generate G&A savings of about $25 million within the first year.