NRGBriefs: Petrobras EBITDA; LatAm Disintegration; Suriname’s Blk 58

(Energy Analytics Institute, 6.May.2022) — Energy briefs including Brazil’s state oil giant Petróleo Brasileiro S.A. (Petrobras) reporting earnings before interest, taxes, depreciation and amortization of $15.1bn in 1Q:22; energy and other disintegration in the Latin America and Caribbean (LAC) region; APA Corporation and TotalEnergies said getting closer to achieving their first financial investment decision offshore Suriname in Block 58; and more.

LATIN AMERICA AND THE CARIBBEAN

Brazil

— Brazil’s state oil giant Petróleo Brasileiro S.A. (Petrobras) reported EBITDA of $15.1bn in the 1Q:22 as reported on its website.

Chevron Corp.’s production in South America in 1Q:22 remains flat vs 1Q:21, according to the co.’s earnings supplement.

Guyana

— On 9 May 2022, at 11am ET, senior operational and technical team members from CGX and Frontera will host a virtual info. presentation on the Guyana-Suriname basin, the offshore Corentyne block, integrated Kawa-1 exploration well results and insights ahead of the Wei-1 exploration well. To join the presentation here.

Mexico

Kootenay Silver Inc. (TSXV: KTN) announced drill crews are on site at the Columba high-grade silver project in Chihuahua State, Mexico in preparation to begin the 2022 drill program. Two diamond core drills are scheduled to arrive within the next few days. Drilling for this 15,000m program will focus on several areas on the property, including: the F Vein; host to historic high-grade silver underground workings (4 shafts and 6 levels of drifts) measuring over 1,000 meters in length; D, and B Veins located 800m south and along strike from the F Vein; JZ Zone located 700m east of the F Vein; and East Block located 200m east form the JZ Zone, Kootenay announced 6 May 2022 in an official stmt.

Suriname

Energy Analytics Institute (EAI) Quick Takeaway: APA Corp. execs. said in the co. ‘s annual rpt that in early 2022 the “additional oil discovery at the Krabdagu exploration well in Block 58, drawing us closer toward achieving our first FID.” If there is a “first” then that hints again at the possibility for more than one development in Blk 58, as EAI has reported in the past.

Venezuela

Energy Analytics Institute (EAI) Quick Takeaway: Could Hugo Chávez’ pipe dream, literally, of the Great South American natural gas pipeline get some attention today as Brazil’s President Jair Bolsonaro travels to Georgetown to meet w/ his Guyanese counterpart? Maybe so even if indirectly. Remember, late Venezuelan leader Chávez wanted to push Venezuelan gas across much of South America and even the Caribbean via pipelines. Today’s talks in Guyana will likely focus on just the Northern Arc region. However, LatAm remains disconnected energetically despite the abundance of oil and gas in the region. Energy integration across the vast LatAm region — which Chávez was pushing for good or bad via PetroCaribe and other initiatives that offered Venezuelan oil and products with 2-yr grace periods before payments and/or in kind paybacks started — and for that part that of “races and classes” remains a pipe dream.

NORTH AMERICA

US

Steel Dynamics, Inc. (NASDAQ/GS: STLD) said the co.’s BODs declared a quarterly cash dividend of $0.34/shr common. The dividend is payable to shareholders of record at the close of business on 30 Jun. 2022 and is payable on or about 15 Jul. 2022, the co. announced 6 May 2022 in an official stmt.

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