(Energy Analytics Institute, 4.May.2022) — Energy and political briefs including Marathon Oil reporting 1Q:22 production from Equatorial Guinea of 64 net Mboe/d; the US providing over $6mn in additional humanitarian assistance to support Venezuelan refugees and migrants, and their host communities in Chile; and US Department of State Assistant Secretary for Western Hemisphere Affairs Ambassador Brian A. Nichols speaking with Venezuelan opposition leader Juan Guaidó.
AFRICA
Equatorial Guinea
— Marathon Oil reported 1Q:22 production from Equatorial Guinea of 64 net Mboe/d (sales volume of 61 net Mboe/d) w/ production costs of $1.92/boe. The co.’s equity earnings reached $127mn in 1Q:22 vs. cash distributions of $54mn. Marathon expects 2022 equity income of $480mn-$520mn, up $200mn from initial guidance, the co. announced 4 May 2022 in an official stmt.
RELATED STORY: Marathon Oil Reports 1Q:22 Net Income of $1.3bn
NORTH AMERICA
US
— Murphy Oil Corporation (NYSE: MUR) provided updates on Brazil and Mexico in its 1Q:22 financials as summarized here:
- Brazil
As previously announced, Murphy and its operated partner concluded drilling the Cutthroat-1 exploration well in block SEAL-M-428 in the Sergipe-Alagoas Basin in Brazil during the 1Q:22. The presence of hydrocarbons was not found, Murphy reiterated 4 May 2022 in an official stmt, adding that the “operator plugged and abandoned the well and the partner group is evaluating the results.”
- Mexico
During the 1Q:22, Murphy received approval of the first additional exploration period for its exploration program in Block 5 onshore Mexico, the co. reiterated 4 May 2022 in an official stmt. This agreement includes one exploration well commitment, which the co. will meet w/ drilling the planned Tulum-1EXP well in the 2Q:22.
RELATED STORY: Murphy Reports 1Q:22 Net Loss of $113mn
LATIN AMERICA AND THE CARIBBEAN
Chile
— The US is providing more than $6mn in additional humanitarian assistance to support Venezuelan refugees and migrants, and their host communities in Chile, US Department of State Spokesperson Ned Price announced 4 May on Twitter. “We remain deeply concerned about the humanitarian crisis and call on the donor community to contribute to the response,” Price said.
Suriname
— In Suriname, APA Corp. has reported five exploratory finds in Block 58 since Jan. 2020. At the recent find at the Krabdagu-1 exploration well… flow testing is complete and ops are now in the pressure build-stage of both tested zones, APA Corp. announced 4 May 2022 in a corp. presentation.
RELATED STORY: APA Corp. Reports 1Q:22 Production of 404,000 boe/d
Venezuela
— US Department of State Assistant Secretary for Western Hemisphere Affairs Ambassador Brian A. Nichols spoke w/ Venezuelan opposition leader Juan Guaidó “to reiterate that he and all Venezuelans fighting for democracy and human rights will continue to find a stalwart ally and partner in the United States. We remain committed to support a negotiated path forward that benefits all Venezuelans,” the US official said 4 May 2022 on Twitter.
UK
Bermuda
— Höegh LNG Holdings Ltd. appointed Mr. Erik Nyheim as new President & CEO effective from mid-Aug. 2022. Nyheim comes from the position as partner of Boston Consulting Group’s Norwegian office where he has successfully led their maritime practice since 2019, Höegh LNG said 4 May 2022 in an official stmt. Prior to this, he worked for more than 15 yrs w/ the Wilhelmsen group. Nyheim holds a BSc Economics and Business Administration from the Norwegian School of Business and Administration (NHH) in Bergen.
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By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
