Royal Dutch Shell on Sept. 30 introduced a quarterly outlook, forecasting higher liquefied natural gas output and charges of up to $850 million for the third quarter.
Chief Financial Officer Jessica Uhl said that after discussions with investors, the Anglo-Dutch energy company would release outlooks ahead of quarterly results "to enhance disclosures and increase transparency".
The company reports third-quarter results on Oct. 31.
Shell in August said its second-quarter profit slumped to a 30-month low on weaker gas prices and refining margins, denting a steady recovery in recent years.
For the third quarter, Shell said:
- LNG production in the third quarter is expected to be between 930,000 and 960,000 barrels of oil equivalent per day (bob/d). Production in third-quarter 2018 was 924,000 boy/d;
- Oil and gas production is expected to be between 2.600 and 2.65 MMboe/d. Production in third-quarter 2018 was 2.672 MMboe/d;
- It sees refinery availability between 90% and 92%;
- Oil Products sales volumes is expected to be between 6.7 and 7.35 bbl/d; and
- Corporate earnings excluding identified items are expected to be a net charge between $700 to 850 million, excluding the impact of currency exchange rates.
First horizontal completion in Crossroad Fields plus BP's results from Carthage Field-Haynesville Shale Well.
U.S. shale players have turned to technology to improve their ability to accurately see beneath the surface.
Companies added one oil rig in the week to Oct. 18, bringing the total count to 713, Baker Hughes said in its weekly report.