NRGBriefs: Argentina Extends Austral Basin Concession for Ten Years

(Energy Analytics Institute, 19.Apr.2022) — Energy briefs including Argentina’s government issuing Decree 195/2022 to extend a hydrocarbon exploitation concession in the offshore Austral Basin granted in 1994 and which was to expire in 2031 for 10 years; Forte Minerals Corp. obtaining eligibility with the Depository Trust Company “DTC” for its common shares listed on the OTCQB; PNM Resources management meeting with analysts and investors this week in New York and Boston; Summit Midstream Partners, LP (NYSE: SMLP) planning to report its operating and financial results for the 1Q:22 on Tue. 3 May 2022; and PDVSA preparing to send 190,000 bbls of diesel to Cuba.

LATIN AMERICA AND THE CARIBBEAN

Argentina

— Argentina’s gov’t issued Decree 195/2022 to extend a hydrocarbon exploitation concession in the offshore Austral Basin granted in 1994 and which was to expire in 2031 for 10 yrs. Cos. involved in the consortium incl.: TotalEnergies (37.5% WI), Wintershall DEA (37.5% WI, operator) and Pan American Energy (25% WI), whom have pledged to invest $700mn, news outlet La Nación reported 19 Apr. 2022.

Peru

— Forte Minerals Corp. (CSE: CUAU) (OTCQB: FOMNF) (Frankfurt: 2OA), said that as of 18 Apr. 2022 it has obtained eligibility with the Depository Trust Company “DTC” for its common shrs listed on the OTCQB. The DTC is a stock depository that facilitates and simplifies the electronic trading of securities in the US, the co. added 19 Apr. 2022 in an official stmt.

Venezuela

— Petróleos de Venezuela (PDVSA) is preparing to send a shipment of 190,000 bbls of diesel to Cuba to assist its political ally avoid fuel shortages and electricity blackouts in the summer, Reuters reported 19 Apr. 2022.

NORTH AMERICA

Canada

— Frontera Energy Corporation (TSX: FEC) said its 1Q:22 results will be released after markets close on Tue. 3 May 2022. A conf. call for investors/analysts will be held on Wed. 4  May at 11:30am Eastern Time. Participants will incl: Gabriel de Alba, Chairman of the BODs, Orlando Cabrales, CEO, Alejandro Piñeros, CFO and other members of the senior mgmt. team.

Analysts and investors are invited to participate using the following dial-in numbers:

A replay of the conf. call will be available until 11:59pm Eastern Time on 11 May 2022.

US

— Halliburton Company (NYSE: HAL) reported LatAm revenue in the 1Q:22 was $653mn, up 22% YOY due to “improved activity across multiple product service lines in Brazil, Argentina, and Mexico, increased well construction services in Colombia, higher completion tool sales in Guyana, improved project management activity in Ecuador and Colombia, increased testing services and wireline activity across the region, and increased artificial lift activity in Ecuador.” Partially offsetting these increases were reduced fluid services in the Caribbean and lower project mgmt and stimulation activity in Mexico, the co. announced 19 Apr. 2022 in an official stmt.

RELATED STORY: Halliburton Announces 1Q:22 Results [PDF Download]

— PNM Resources (NYSE: PNM) mgmt will meet w/ analysts and investors this week in New York and Boston to affirm the co.’s 2022 and 2023 consolidated earnings guidance of $2.50/shr to $2.60/shr diluted and $2.60/shr to $2.75/shr diluted, respectively. Presentation materials are available on the co.’s website at http://www.pnmresources.com/investors/events.cfm.

— Summit Midstream Partners, LP (NYSE: SMLP) will report operating and financial results for the 1Q:22 on Tue. 3 May 2022, after the close of trading on the NYSE. SMLP will host a conf. call at 10am Eastern on Wed. 4 May 2022, to discuss its quarterly operating and financial results.  Interested parties may participate in the call by dialing 404-400-0571 or toll-free 866-374-5140 (PIN# 73884207).

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