(Energy Analytics Institute, 21.Feb.2022) — Energy briefs including TotalEnergies and APA Corp. reporting another significant find offshore Suriname in Block 58; APA Corp. announcing 4Q:21 financial results and planning a conference call to discuss the results; US sanctions on Russia and its ties with Venezuela; PDVSA President Asdrúbal Chávez travelling to Qatar to participate in the VI Summit of the Heads of State and Government of the GECF in Doha; and more.
— Asdrúbal Chávez, the president of state-owned Petróleos de Venezuela, travelled to Qatar to participate in the VI Summit of the Heads of State and Government of the GECF in Doha. Venezuela, home to the world’s largest oil reserves, also ranks amongst the top ten countries worldwide for its gas reserves, primarily located offshore.
— Gold Fields Limited (JSE: GFI) (NYSE: GFI) reported profit attributable to owners of the parent for YE:21 of $789mn ($0.89/shr) vs. profit of $723mn ($0.82/shr) for YE:20, the co. announced 17 Feb. 2022 in an official stmt. A final dividend number 95 of 260 SA cents/shr (gross) is payable on 14 Mar. 2022, giving a total dividend for YE:21 of 470 SA cents/shr (gross), the co. said.
LATIN AMERICA AND THE CARIBBEAN
— TotalEnergies and APA Corp. revealed 21 Feb. 2022 in separate stmts an oil discovery at the Krabdagu-1 (KBD-1) exploration well offshore Suriname. The well found approximately 90m (295ft) of net oil pay in good quality reservoirs. “The promising discovery at Krabdagu is another important step toward achieving our first FID in Block 58 offshore Suriname, and we look forward to continuing our exploration and appraisal programs,” said APA CEO and president John J. Christmann IV in a co. stmt.
— TotalEnergies and APA Corp. plan to spud the Rasper exploration well in Blk 53 in Mar. 2022, APA Corp. announced 21 Feb. 2022 in an official stmt.
RELATED STORY: TotalEnergies and APA Corp. Reveal Another Significant Find in Suriname’s Block 58
RELATED STORY: APA Corp. Announces Oil Discovery at Krabdagu Exploration Well Offshore Suriname
— Energy Analytics Institute expects any new US sanctions targeting Russia will provoke Moscow to boost ties w/ its South American ally Venezuela as the axis-of-sanctioned countries move to lean more on each other to operate under the pressure on the sanctions.
RELATED STORY: Venezuela and Russia Discuss Strategies to Boost Mutual Tourism
— A huge data leak reveals Venezuelans accused of looting state-owned PDVSA deposited millions of dollars at Swiss bank Credit Suisse, according to a report published 21 Feb. 2022 by BBC.
— Buscar Company, Inc. (OTC-PINK: CGLD) announced that JV partner Mars Mines Limited (MML) has committed in writing to an initial $500,000.00 in working capital dedicated solely to the Treasure Canyon project, the co. announced 18 Feb. 2022 in an official stmt.
— APA Corp. expects to generate approximately $6.5bn of FCF over the next 3 yrs based on a WTI price of $78/bbll (3-yr strip); the co. is budgeting 2022 upstream capital investment of $1.6bn, of which $200mn is dedicated to exploration and appraisal activities, primarily in Suriname; planning similar level of capital activity in 2023 and 2024; the co. continues to streamline its portfolio ($805mn mineral rights sales package in the Delaware Basin to close by the end of Feb. 2022, the co. said 21 Feb. 2022 in an official stmt.
— APA Corp. will host a conf. call to discuss its 4Q:21 and YE21 results at 10am Central time 22 Feb. 2022. Details can be found at www.apacorp.com and investor.apacorp.com. The conf. call will also be available for playback by telephone for one week beginning at approximately 4pm Central time 22 Feb. The number for the replay is 1.855.85912056 or 1.404.537.3406 for int’l calls.
By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.