(Energy Analytics Institute, 30.Apr.2023) — Energy briefs as well as others related to finance and politics during April 2023 including the US not blocking the court-ordered sale of shares of Citgo Petroleum Corp.’s parent company, PDV Holding, to pay off creditors who have sought payment from the Venezuelan state; OFAC authorizing certain transactions related to the Petróleos de Venezuela, S.A. 2020 8.5% bond on or after 20 Jul. 2023; Eni saying that commencement of production from the FPSO Firenze will allow production start-up of the Baleine field offshore the Ivory Coast; Avino Silver & Gold Mines Ltd. reporting on the tragic loss of life of a contractor’s employee at the Avino Mine Property in Durango, Mexico; W&T Offshore, Inc. (NYSE: WTI) reporting that Janet Yang, EVP and CFO, will be leaving the co. on 11 May 2023; Controladora Vuela Compañía de Aviación, S.A.B. de C.V. published a rpt based on the recommendations of the task force on climate-related financial disclosures (TCFD); and more.
— Commencement of production from the FPSO Firenze will allow production start-up of the Baleine field, which is the largest hydrocarbon discovery in Côte d’Ivoire, Eni announced 6 Apr. 2023 in an official stmt.
— TotalEnergies announced the first interim dividend of €0.74/shr for fiscal year 2023, an increase of more than 7% vs 2022, the co. announced 27 Apr. 2023 in an official stmt.
— Plenitude and CDP Equity are eying planned investments of €1.7bn, including those already made as of 2021. The JV is targeting 1,000 MW installed capacity from renewable sources, w/ a focus also on floating offshore wind farms, Eni announced 6 Apr. 2023 in an official stmt.
— Eni’s annual rpt on Form 20-F for the YE:22, has been filed w/ the US SEC, the co. announced 5 Apr. 2023 in an official stmt.
— ChampionX Corporation (NASDAQ: CHX) announced its operations in Norway have been recognized by ConocoPhillips w/ the 2022 Supplier Recognition Award – Focus on Execution, acknowledging the co.’s asset integrity program in the Greater Ekofisk Area in Norway, ChampionX revealed 27.Apr.2023 in an official stmt.
— Pan Global Resources Inc. (TSXV: PGZ) (OTCQB: PGZFF) announced assay results for its ongoing diamond drilling at the La Romana copper-tin-silver discovery and results for the first three drill holes at the Romana Deep target at the co.’s 100%-owned Escacena Project in the Iberian Pyrite Belt, southern Spain, the co. announced 19 Apr. 2023 in an official stmt.
— Pan Global Resources Inc. (TSXV: PGZ) (OTCQB: PGZFF) announced successful results for preliminary metallurgical test work from the La Romana copper-tin-silver discovery in the Escacena Project, Spain. The metallurgical test work reported was completed by Wardell Armstrong International (UK), under the coordination and mgmt of SCYPI (Spain).
— New Gold Inc. (TSX: NGD) (NYSE American: NGD) appointed Yohann Bouchard as EVP and COO, and the promotion of Ankit Shah to EVP, Strategy and Business Development. New Gold also appointed Luke Buchanan as VP, Technical Services and Jean-François Ravenelle as VP, Geology, the co. announced 11 Apr. 2023 in an official stmt.
— The US will not block the court-ordered sale of shares of Citgo Petroleum Corp.’s parent company, PDV Holding, to pay off creditors who have sought payment from the Venezuelan state, Bloomberg reported on 30 Apr. 2023.
— GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) announced additional drilling results from Los Ricos South, within the Eagle Deposit. Hole LRGAG-22-145 intercepted 42.2m of 417 g/t silver equivalent (“AgEq”), including 14.2m of 977 g/t AgEq which also contained 6,951 g/t AgEq over 0.5m, the co. said 19 Apr. 2023 in an official stmt.
— CSI Compressco LP’s (NASDAQ: CCLP) BODs of its general partner has declared a cash distribution attributable to the qtr ended 31 Mar. 2023 of $0.01/outstanding common unit, or $0.04/outstanding common unit on an annualized basis. This cash distribution will be paid on 15 May to all common unitholders of record as of the close of business on 30 Apr. 2023, the co. said 17 Apr. in an official stmt.
— Sempra (NYSE: SRE) (BMV: SRE) plans to release its 1Q:223 earnings by 7am ET on Thu. 4 May 2023, the co. announced 14 Apr. in an official stmt.
— Norfolk Southern Corporation (NYSE: NSC) has partnered w/ leaders of another labor union to provide additional craft employees the ability to take up to seven days of paid sick leave per year. In total, ten of Norfolk Southern’s twelve unions now have access to paid sick leave, benefitting approximately 6,900 of its dedicated railroaders, the co. announced 17 Apr. 2023 in an official stmt.
— RPC, Inc. (NYSE: RES) will present at the 26th Annual Burkenroad Reports Investment Conference on Fri. 28 Apr. 2023, at the Ritz Carlton New Orleans, the co. announced 14 Apr. in an official stmt.
— In the EIA’s Annual Energy Outlook 2023 (AEO2023), natgas production from oil formations, known as associated gas, grows across most cases through 2050, continuing a long-term trend. In the AEO2023 Reference case, the US agency projects associated natgas will account for ~20% of total US natgas production over that period, and the EIA examines cases in AEO2023 where it makes up as much as 32% of production, the agency announced 11 Apr. 2023 in an official stmt on its website.
— New Gold Inc. (TSX: NGD) and (NYSE American: NGD) reports 1Q:23 operational results for the co. as of 31 Mar. 2023. The co. will also release its 1Q:23 financial results after mkt close on Wed. 6 Apr. The co. will host its earnings conf. call and webcast on Thu. 7 Apr. at 8:30am EST.
— Talos Energy Inc. (NYSE: TALO) will release its 1Q:23 results for the period ended 31 Mar. 2023, on Mon. 8 May, after the US financial mkt closes. Talos will also host a conf. call, broadcast live over the internet, on Tue. 9 May at 10am EST (9am CST).
— In conjunction w/ Nucor‘s (NYSE: NUE) 1Q:23 earnings release, the co. is inviting interested parties listen to its live conf. call w/ host Leon Topalian, Nucor’s Chair, President and CEO. The call will incl. a review of Nucor’s results for the 1Q:23 ended 1 Apr. 2023, followed by a Q&A session. The event will be available on the internet on 20 Apr. at 2:00pm EST.
— W&T Offshore, Inc. (NYSE: WTI) said Janet Yang, EVP and CFO, will be leaving the co. on 11 May 2023. Ms. Yang disclosed that, for family reasons, she and her family will be relocating to another city, the co. announced 6 Apr. 2023 in an official stmt. A formal search will be initiated shortly but until such time as a new CFO is appointed, the co. announced that Trey Hartman, VP and CAO, will serve as Interim CFO.
— RPC, Inc. (NYSE: RES) will release its financial results for the 1Q:23 on 6 Apr. 2023 before the mkt opens. In conjunction with its earnings release, the co. will host a conf. call to review its financial and operating results on 26 Apr. at 9am EST, the co. announced 4 Apr. 2023 in an official stmt. Individuals wishing to participate in the call can dial toll-free (888) 440-5966, or (646) 960-0125 for int’l callers, and use conf. ID no. 9842359.
— RPC, Inc. (NYSE: RES) purchased 1,132,364 shares for ~$9mn during the 1Q:23 under its share repurchase program, the co. announced 3 Apr. 2023 in an official stmt.
LATIN AMERICA AND THE CARIBBEAN
— Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE American: ASM) (FSE: GV6) regrets to rpt the tragic loss of life of a contractor’s employee at the Avino Mine Property in Durango, Mexico. Avino’s mgmt and staff are supporting the Mexican authorities w/ their investigation and currently Avino doesn’t expect the accident to affect production from the Avino Mine, the co. announced 5 Apr. 2023 in an official stmt.
— Controladora Vuela Compañía de Aviación, S.A.B. de C.V. published a rpt based on the recommendations of the task force on climate-related financial disclosures (TCFD). The rpt reflects the risks and opportunities associated with climate change and its impact on the co., it announced 3 Apr. 2023 in an official stmt.
— OFAC issued an update authorizing certain transactions related to the Petróleos de Venezuela, S.A. 2020 8.5% bond on or after 20 Jul. 2023, the US agency announced 19 Apr. 2023 in a stmt on its website.
By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.