NRGBriefs: Shell And YPF Eye Bajada De Añelo Investment

(Energy Analytics Institute, 3.Nov.2021) — Energy briefs including Shell Argentina and YPF looking to commence development of the Bajada de Añelo area w/ an anticipated investment of around $300mn; Ecuador’s oil production struggles to reach the 500,000 b/d range; Frontera Energy‘s plans to host its 3Q:21 conf. call; and more.

LATIN AMERICA AND THE CARIBBEAN

Argentina

— Shell Argentina and YPF look to commence development of the Bajada de Añelo area w/ an anticipated investment of around $300mn. The gov’t of the Neuquén Province announced the details on 3 Nov. 2021 in an official stmt, citing comments from governor Omar Gutiérrez during an event w/ Shell Argentina President Sean Rooney, YPF Non-conventional Upstream VP Pablo Iuliano and Argentina’s Energy and Natural Resources Minister Alejandro Monteiro. Shell has already drilled 12 exploratory wells. Plans in the area contemplate drilling and connecting approximately 16 new wells, which implies incorporating two new drilling units in the 2Q:22. Additionally, the cos. plan to build an early treatment plant w/ processing capacity of 15,000 b/d of oil and 2 MMcm/d of gas. Shell could take a decision to initiate another development phase in 2025/26 to expand capacity, Rooney said.

— Shell Argentina has drilled 50+ wells in the Vaca Muerta formation and the co.’s avg. production in the South American country is around 25,000 b/d. In coming yrs, the co. will drill 35+ wells/yr and continue w/ development plans for areas it operates, Shell Argentina President Sean Rooney was quoted as saying 3 Nov. 2021 in an official stmt from the Neuquén Province gov’t.

Colombia

Frontera Energy will host a conf. call on 4 Nov. 2021 at 10:30am EST. Participants will include Gabriel de Alba, Chairman of the BODs, Orlando Cabrales, CEO, Alejandro Piñeros, CFO plus other members of the senior mgmt team. Analysts and investors can participate using the following dial-in #: 1-866-269-4260 (toll free North America), 01-800-518-3328 (toll free Colombia), or 1-647-792-1240 (int’l). Conf. ID: 9932507. A replay of the conf. call will be available until 11:59 pm EST on 11 Nov. 2021. Encore toll free dial-in #s: 1-647-436-0148 (US) and 1-888-203-1112 (int’l). encore ID: 9932507

Ecuador

— Ecuador’s oil production was 486,918 b/d on 3 Nov. 2021, of which EP PetroEcuador accounted for 382,686 b/d (79%), while private cos. accounted for the difference, some 104,232 b/d (21%), the state oil entity reported in its daily production update.

NORTH AMERICA

US

Consol Energy Inc. (NYSE: CEIX) reported financial and operating results for the period ended 30 Sep. 202. Select highlights incl.: GAAP net loss of ($113.8)mn, which includes $147.3mn of pre-tax unrealized mark-to-market losses related to commodity derivatives, quarterly adjusted EBITDA of $66.6mn, and net cash provided by operating activities of $80.5mn, the co. revealed 2 Nov. 2021 in an official stmt.

AES Corp. will host a conf. call on 4 Nov. 2021 at 9am EDT.  Interested parties can listen to the call by dialing 1-844-200-6205. Int’l callers can dial +1-929-526-1599.  The access code for the call is 171597.

Bristow Group Inc. (NYSE: VTOL) reported net income of $2.8mn, or $0.10/shr diluted, for its fiscal second qtr ended 30 Sep. 2021 on operating revenues of $290.1mn vs a a net loss of $14.2mn, or $0.50/shr diluted in the qtr ended 30 Jun. 2021 on operating revenues of $288.4mn. EBITDA was $45.3mn in the current qtr vs $14.8 mn in the previous qtr.

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By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.