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(Energy Analytics Institute, 30.Apr.2024) — Energy briefs as well as others related to finance and projects during April 2024 including ExxonMobil, Hess and CNOOC announcing a $12.7bn FID for their sixth project offshore Guyana dubbed Whiptail; YPF SA launching the “Andes” project to divest 55 mature conventional fields and focus its investments in Vaca Muerta; Equinor and EQT Corporation swapping Equinor’s operated position in the Marcellus and Utica shale formations in Ohio for a stake in EQT’s non-operated interest in the Northern Marcellus formation; Volvo Group looking to build a new heavy-duty truck manufacturing plant in Mexico to supplement the group’s US production; TotalEnergies SE’ expected FID for its Papua LNG project; and more.



Nabors was awarded three rigs in Argentina, on multiyear contracts w/ attractive economics, the co. said 24 Apr. 2024 in an official stmt. The co. will redeploy inactive rigs from the Lower 48 mkt. These awards further solidify Nabors’ position in this key mkt, the co. said.

— State-owned YPF SA launched the “Andes” project to divest 55 mature conventional fields and focus its investments in Vaca Muerta, The Chamber of Commerce Argentina Canada announced 17 Apr. 2024 on LinkedIn.


Rystad Energy is bringing together its experts for its first-ever Rio de Janeiro Energy Forum on 6 Jun. 2024 at the Fairmont Rio de Janeiro Copacabana. Join Rystad for lunch, presentations from our experts and a networking cocktail reception.

— Using a combination of proprietary technologies from Weatherford and the recently acquired Ardyne portfolio, Weatherford said 23 Apr. 2024 in an official stmt. that it successfully completed a slot recovery operation for Equinor, delivering rig time savings through improved operational efficiency

Petrobras rec’d approval to divest its entire stake in the Cherne and Bagre fields, located in shallow waters in the Campos Basin, to Perenco Petróleo e Gás do Brasil Ltda. Production from the two fields was interrupted in Mar. 2020 and the respective platforms have been mothballed ever since. Petrobras will receive $10mn from the transaction, of which $1mn will be paid on the date the contract is inked for the assignment of the assets and the remainder at the closing of the transaction, Petrobras said 17 Apr. 2024 in an official stmt.

SLB (NYSE: SLB) was awarded three contracts by Petrobras (NYSE: PBR) for completion hardware and services for up to 35 subsea wells in the development of Petrobras’ offshore Buzios Wave II oilfield, SLB said 15 Apr. 2024 in an official stmt.

Petrobras filed w/ the US Securities and Exchange Commission (SEC) its annual rpt and Form 20-F 2023, for the year ended 31 Dec. 2023, the Brazilian energy giant said 11 Apr. 2024 in an official stmt.


Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC), after mkt close on 7 May 2024, will release its financial and operating results for the 1Q:2024. On 8 May, Ecopetrol’s senior mgmt will host a single virtual conf. call to review the results, w/ transmission in Spanish and English. To access the webcast, use the following link.

Conf. Call
09:00 a.m. Col Time
10:00 a.m. NY Time

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) filed its annual report under Form 20-F for the fiscal year ended 31 Dec. 2023, w/ the U.S. Securities and Exchange Commission (SEC), the Colombian energy co. revealed 18 Apr. 2024 in an official stmt.


ExxonMobil said 26 Apr. 2024 in an official that its gas-to-energy project will feed a new gov’t-owned power plant w/ the potential to significantly increase reliability and reduce both the cost of electricity and its GHG emissions.

ExxonMobil said the Whiptail project offshore Guyana received gov’t approvals, the Texas-based co. said 12 Apr. 2024 in an official stmt. The $12.7bn FID will continue to contribute to Guyana’s growing economy w/ production salted to start in 2027. Whiptail is the co.’s sixth Stabroek blk development and will add capacity of 250,000 b/d. Hess and CNOOC are also partners in the blk.


Volvo Group will build a new heavy-duty truck manufacturing plant in Mexico to supplement the group’s US production. The plant will provide add’l capacity to support the growth plans of both Volvo Trucks and Mack Trucks in the US and Canadian mkts, and support Mack truck sales in Mexico and LatAm. The plant is expected to be operational in 2026, AB Volvo said 11 Apr. 2024 in an official stmt.


SEOGS 2024 welcomes over 150 speakers, 200 exhibitors, 900 delegates and 8,000 trade visitors and will see the introduction of a 3rd exhibition hall, deliver a 4-day executive summit, 2-day technical conf., 2-day workshops and roundtables program, a women economic empowerment program, a youth, entrepreneur and innovation fair and numerous functions, networking receptions and opportunities to develop business, partnerships, and projects. Dates: 4-7 Jun. 2024 in Paramaribo, Suriname. Energy Analytics Institute (EAI) is an official media partner for SEOGS 2024.


Papua New Guinea

TotalEnergies, operator of the Papua LNG Project, has advised Santos Ltd. that it will need to keep working w/ contractors to agree commercially-viable EPC contracts to reach an expected FID in 2025, Santos said 18 Apr. 2024 in its 1Q:24 financial stmt.

TotalEnergies SE expects to announce a FID related to it Papua LNG project sometime in 2025, the French energy giant announced 8 Apr. 2024 in an official stmt. 



CGG will announce its 1Q:24 non-audited results on 14 May 2024, after mkt close, the co. announced 6 Apr. 2024 in an official stmt.

FLEX LNG LTD. announced that its 2024 annual general meeting will be held on 29 Apr. 2024. A copy of the notice of annual general meeting and associated info. including the co.’s 2023 Annual Report on Form 20-F can be found online.



Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) announce the addition of Mr. Israel Munoz as VP Finance, the co. announced 2 Apr. 2024 in an official stmt.

As Luca continues its growth from a developer to a multi-mine producer, we are committed to best practices in corporate governance and financial reporting.


— “The perception that US LNG could cede market share to other global projects has been topical, but seems overblown in our view,” Mizuho Americas said 30 Apr. 2024 in a research report.

Valero expects diesel cracks to recover while gasoline cracks may improve given “flat to slightly higher” demand y-o-y, Mizuho Americas said 30 Apr. 2024 in a research report.

— Washington will not renew a temporary license set to expire on 18 Apr. 2024 that widely eased sanctions on Venezuela’s oil and gas sector, a US State Department spokesperson said, unless progress is made by President Nicolas Maduro on commitments for free and fair elections this yr, Reuters reported 15 Apr.  

Equinor and EQT Corporation agreed to swap Equinor‘s operated position in the Marcellus and Utica shale formations in Ohio for a stake in EQT’s non-operated interest in the Northern Marcellus formation, the Norwegian co. said 15 Apr. 2024 in an official stmt.

Talos Energy Inc. (NYSE: TALO) will release 1Q:24 results for the period ended 31 Mar. 2024, on 6 May 6, after the US financial mkt closes. Talos will also host a conf. call, broadcast live over the internet, on 7 May at 10am EST (9am CST), the co. revealed 10 Apr. in an official stmt.

CNX Resources Corp. (NYSE: CNX) will release its financial results for 1Q: 24 at 6:45am EST on 25 Apr. 2024. At that time, CNX will issue a press release containing links to prepared remarks for the qtr, presentation materials, and supplemental info. providing a 1Q:24 update, the co. announced 3 Apr. 2024 in an official stmt.

Wood announced the appointment of Jess Stanley as President of its Americas Operations, joining the business unit’s global leadership team, Wood announced 3 Apr. 2024 in an official stmt.



Chevron awarded Weatherford a 5yr contract to provide Gas Lift services in Angola, Weatherford said 23 Apr. 2024 in an official stmt.


ExxonMobil said its net acreage totaled 0.1mn offshore acres at YE:23 in Mozambique. In 2023, 0.6mn net offshore acres were relinquished outside of the core Area 4 development. Within Area 4, ExxonMobil participated in the co-venturer-operated Coral South Floating LNG, a gross 3.4 mtpa LNG facility, the U.S.-based energy giant announced in its 2023 annual rpt.


— Heard on the Street: The Nigerian gov’t signed a deal w/ Shell for gas supply to its proposed $3.8bn Brass methanol project.



JinkoSolar Holding Co., Ltd. (NYSE: JKS) will release its unaudited financial results for the first quarter ended 31 Mar. 2024 before the open of U.S. mkts on Monday, 29 Apr. 2024, the co. said in an official stmt. JinkoSolar’s mgmt will host an earnings conf. call on 29 Apr. at 8:30am U.S. EST (8:30 p.m. Beijing / Hong Kong the same day).


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

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