HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Oct.2024, Words: 310) — ConocoPhillips anticipates closing the planned acquisition of Marathon Oil in the fourth-quarter 2024 (4Q:24). The Houston-based company also expects to exceed an initial synergy guidance of $500mn. “We’re still on track to close this quarter. In the meantime, integration […]
Category: North America
North America energy
ConocoPhillips Reports 3Q:24 Results, Updates on Marathon
(ConocoPhillips, 31.Oct.2024) — ConocoPhillips reported third-quarter 2024 earnings of $2.1bn, or $1.76 per share, compared with third-quarter 2023 earnings of $2.8bn, or $2.32 per share. Excluding special items, third-quarter 2024 adjusted earnings were $2.1bn, or $1.78 per share, compared with third-quarter 2023 adjusted earnings of $2.6bn, or $2.16 per share. […]
Expand Energy Reveals 2025 Capex Plan, Comments on Chesapeake
(Expand Energy, 31.Oct.2024) — Expand Energy Corporation reported third-quarter 2024 financial and operating results. In addition, the company provided its preliminary 2025 capital and operating plan and announced details regarding its enhanced capital return framework. On 1 Oct. 2024, Expand Energy announced the completion of the previously disclosed merger between […]
SM Energy Reports 3Q:24 Results (PDF Download)
(SM Energy, 31.Oct.2024) — SM Energy Company reported operating and financial results for the third quarter 2024 (3Q:24) and provided certain full year and fourth quarter 2024 guidance. Excellent operational execution drove strong third quarter results including: ____________________
Baker Hughes Launches Advanced Oxygen Analyzer
(Baker Hughes, 31.Oct.2024) — Baker Hughes launched the XMO2pro, a new and advanced oxygen analyzer designed to ensure greater levels of stability, accuracy and reliability. Oxygen gas analysis is key to safety, efficiency and control in industrial and energy processes – the presence of oxygen can cause corrosion and, when […]
COP Reports 3Q:24 Results, Boosts Quarterly Dividend (PDF Downloads)
(ConocoPhillips, 31.Oct.2024) — ConocoPhillips reported third-quarter 2024 earnings of $2.1bn, or $1.76 per share, compared with third-quarter 2023 earnings of $2.8bn, or $2.32 per share. Excluding special items, third-quarter 2024 adjusted earnings were $2.1bn, or $1.78 per share, compared with third-quarter 2023 adjusted earnings of $2.6bn, or $2.16 per share. […]
AES Reports 3Q:24 Results; Boasts 1.2 GW of Construction (PDF Download)
(AES, 31.Oct.2024) — The AES Corporation reported financial results for the quarter ended 30 Sep. 2024. “Our third quarter financial results and strategic accomplishments were very much in line with our expectations. Since our last call, we have signed or been awarded 2.2 GW of long-term contracts for renewables or […]
Woodside and Tokyo Gas in Discussions Over Stake in US LNG Project
(Reuters, 31.Oct.2024) — Tokyo Gas is in talks with Woodside Energy over taking a stake in a multi-billion-dollar Louisiana liquefied natural gas (LNG) export project, according to two people familiar with the discussions. Woodside, an Australian oil and gas producer, this month closed on a $1.2 billion buy of developer […]
TotalEnergies Reports 3Q:24 Results, Output of 2.41 MMboe/d (PDF Downloads)
(TotalEnergies, 31.Oct.2024) — TotalEnergies SE reported its third quarter 2024 (3Q:24) results, including upstream production of 2.41 MMboe/d. Production benefited from the ramp up of Mero 2 in Brazil that partially offset production losses at Ichtys LNG and in Libya. ____________________
EAI’s NRGBriefs Oct. 2024: GranMorgu, Uchuva gas potential offshore Colombia
HOUSTON, TEXAS (Energy Analytics Institute, 31.Oct.2024) — Energy briefs as well as others related to finance and projects during Oct. 2024 including TotalEnergies and APA Corp. announcing a $10.5bn FID for the GranMorgu development on Block 58; Mexico Pacific and its $15bn FID for the first phase of Saguaro EnergĂa […]
Marathon Oil Cuts 500 Houston Jobs
(Bloomberg, 30.Oct.2024) — Marathon Oil Corp. warned of a “mass layoff” involving more than 500 employees at its Houston headquarters as part of the $17 billion takeover by ConocoPhillips, according to state filings. The affected workers “may reasonably expect to experience a permanent loss of employment during the 12-month period” […]
Cheniere Reports 3Q:24 Results, Updates on Dividend (PDF Downloads)
(Cheniere, 30.Oct.2024) — Cheniere Energy, Inc. announced its financial results for the third quarter 2024 as well as details around producing and loading its 1,000th LNG cargo, its dividend, comprehensive capital allocation plan, voluntary, measurement-informed Scope 1 methane emissions intensity target for its liquefaction facilities. ____________________
Cheniere Sets Methane Emissions Intensity Target for its Liquefaction Assets
(Cheniere, 30.Oct.2024) — Cheniere Energy, Inc. has set a voluntary, measurement-informed Scope 1 annual methane intensity target for its liquefaction facilities. The Scope 1 methane target builds upon the Company’s robust climate strategy and leverages data from its multi-scale emissions measurement and mitigation programs. The methane target is consistent with […]
Hess Reports Higher 3Q:24 Adj. Net Income, Higher Bakken Output (PDF Download)
(Hess, 30.Oct.2024) — Hess Corporation reported net income of $498mn, or $1.62 per share, in the third quarter of 2024, compared with net income of $504mn, or $1.64 per share, in the third quarter of 2023. On an adjusted basis, the corporation reported net income of $660mn, or $2.14 per […]
Canada’s Renewable Diesel Projects hit by US Import Surge
(Reuters, 29.Oct.2024) — Canadian renewable fuel producers are facing lower returns on new facilities due to a slump in British Columbia’s low carbon fuel standard (LCFS) credit market, a trend expected to persist amid a flood of exports from the United States. Weakness in British Columbia’s LCFS credit market reflects […]
EQT Divests Remaining Non-Operated Assets to Equinor
(Energy Analytics Institute, 29.Oct.2024) — EQT Corporation has entered into an agreement with Equinor USA Onshore Properties Inc. and Equinor Natural Gas LLC to sell its remaining interest in its non-operated natural gas assets in Northeast Pennsylvania. Production from the assets is expected to be around 350 MMcf/d net in […]
Chevron CEO Mike Wirth Visits Anchor Platform (Video)
(Chevron, 29.Oct.2024) — Chevron Corporation Chairman and CEO, together with CNBC, flew out to the U.S. Gulf of Mexico to visit the Anchor Platform to film a segment on Squawk on the Street and a full episode of Mad Money were broadcast live on October 24. ____________________
FACTSHEET: Chevron’s Anchor Platform
(Energy Analytics Institute, 29.Oct.2024) — Chevron Corporation revealed some key takeaways about its Anchor platform in the US Gulf of Mexico. Those takeaways include the following, Chevron said 29 Oct. 2024 in an official statement: — The resource potential at the platform is estimated to be up to 440 MMboe, — […]
Equinor to Pay $1.25bn for EQT Interest in Northern Marcellus
(Energy Analytics Institute, 29.Oct.2024) — Equinor inked an agreement with EQT Corporation to acquire additional non-operated interest in the Northern Marcellus formation in the US. Equinor will pay $1.25bn to EQT in the transaction. Per the agreement, Equinor is acquiring 100% of EQT’s remaining working interest in Northern Marcellus gas […]
New Gold Announces Commercial Production at New Afton
(New Gold., 29.Oct.2024) — New Gold Inc. announced the completion of significant production milestones at the New Afton copper-gold mine in British Columbia and the Rainy River gold mine in Ontario. C-Zone, New Afton’s fourth block cave, achieved commercial production ahead of schedule with the materials handling system coming online […]
Expand to Running 12 Rigs, to Drop 2 in 1Q:25 (PDF Downloads)
(Energy Analytics Institute, 29.Oct.2024) — Expand Energy Corporation is currently running 12 rigs (8 in Haynesville, 2 in Northeast Appalachia, and 2 in Southwest Appalachia) as well as 6 completion crews (3 in Haynesville, 2 in Northeast Appalachia, and 1 in Southwest Appalachia). And, under current market conditions, Expand expects […]
Pemex’ 3Q:24 production averaged 1.76 MMb/d, while debt falls to $97.3bn
MEXICO CITY, MEXICO (By Fidencio Casillas, Energy Analytics Institute, 29.Oct.2024) — Mexico’s state-owned Pemex reported average liquids and condensate production of 1,764 Mb/d in the third-quarter 2024, of which 549 Mb/d or 31% reportedly came from new developments. In an official statement related by Pemex on 29 Oct. 2024, the […]
EPA Selects PCCA as Clean Ports Program Grant Recipient
(PCCA, 29.Oct.2024) — The Port of Corpus Christi Authority (PCCA) has been selected to receive $105mn through the United States Environmental Protection Agency’s (EPA) Clean Ports Program to deploy zero-emissions equipment as a major step in reducing criteria air pollutants – those regulated by EPA because of health and environmental […]
Guy Mannino’s Leadership Puts Verdek at the Forefront of the EV Transition
(Verdek, 29.Oct.2024) — Our team had the opportunity to hear from one of the forerunners of EV infrastructure in the US, Guy Mannino. Considered a visionary leader in the field of sustainable transportation, with over three decades of experience in engineering, Mannino has dedicated his career to driving innovation in […]
Electrification is the Accelerated Route to Energy Efficiency, Peak EmissionsÂ
(Wood Mackenzie, 29.Oct.2024) — The electrification of the energy system is the central plank of the energy transition. In Wood Mackenzie’s base case, displacing fossil fuels with more energy-efficient electricity leads to global emissions peaking in 2027 and subsequently falling by 35% through to 2050. Global final energy demand is […]
Lower 48 LNG Exports to Reach 25.7 Bcf/d by Jan. 2030
(Energy Analytics Institute, 28.Oct.2024) — Assuming all the LNG export projects located in the Lower 48 that have taken a final investment decision (FID) and others expected to take FID go forward, the Lower 48 (including Mexican projects that utilize U.S. piped-gas) will have 28.5 Bcf/d of export capacity and […]
Sempra Earns Perfect Score on CPA-Zicklin Index
(Sempra, 28.Oct.2024) — Sempra has been recognized as a Trendsetter for the ninth consecutive year for its civic transparency by the Center for Political Accountability’s annual CPA-Zicklin Index of Corporate Political Disclosure and Accountability. Sempra received a perfect score of 100% and was named a “Model Code” company for demonstrating […]
Power Nickel CEO Lynch Comments on Lion Zone Drilling Campaign
(Energy Analytics Institute, 28.Oct.2024) — Power Nickel Inc. announced the third set of assay results obtained for two more holes of the summer 2024 drilling campaign at its polymetallic Lion Zone discovery. “Today we announced the biggest intersection we have to date with 39.6 m of 4.19% CuEq. This is incredibly […]
ONEOK awaiting Saguaro LNG 1 FID to proceed with pipeline project
HOUSTON, TEXAS (Ofelia Paredes, Energy Analytics Institute, 25.Oct.2024, Words: 146) — ONEOK Inc., which is looking to construct the Saguaro Connector Pipeline in Texas, said a final investment decision (FDI) is necessary to proceed with the potential pipeline project. “Mexico Pacific is currently working to complete project financing for its […]
enCore Energy Expanding Uranium Production at Alta Mesa Plant
(enCore Energy, 25.Oct.2024) — enCore Energy Corp., a uranium producer and America’s Clean Energy Company™, provided an update on the production ramp up at its South Texas Alta Mesa In-Situ Recovery (“ISR”) Uranium Central Processing Plant (“Alta Mesa CPP”) and Wellfield. The company has achieved an important milestone in the […]
Exxon Mobil, Qatar Get 3-year Extension to Build their LNG Plant in Texas
(Reuters, 25.Oct.2024) — Federal regulators on Thursday gave an Exxon Mobil and Qatar Energy LNG joint venture a 3-year extension to finish building their Golden Pass LNG plant, a regulatory document showed. The extension was granted due to delays caused when lead construction contractor Zachry Holdings filed for bankruptcy in […]
KMI Signs Golden Pass to New Texas Pipeline
(East Daley Analytics, 25.Oct.2024) — Kinder Morgan (KMI) has launched a binding open season for Trident Intrastate Pipeline, a new project designed to deliver up to 2.8 Bcf/d of gas from the Katy hub to the Port Arthur area near the Texas-Louisiana border. With Golden Pass LNG on board as […]
Agnico Eagles Reveals Investment in Apex Resources
(Energy Analytics Institute, 24.Oct.2024) — Agnico Eagle Mines Limited agreed to subscribe for 33,869,939 units of ATEX Resources Inc. in a non-brokered private placement at a price of C$1.63 per unit for total consideration of US$40,000,000 (approximately C$55,208,000). Each unit consists of 1 common share of ATEX and one-half of […]
TechnipFMC Announces 3Q:24 Results (PDF Download)
(Energy Analytics Institute, 24.Oct.2024) — TechnipFMC plc announced its third-quarter 2024 results and provided updates from Brazil on the Petrobras flexible pipe and subsea production systems contracts, from the U.S. Gulf of Mexico on the bp Kaskida project, as well as other projects. ____________________ By Editors at Energy Analytics Institute. […]
Clariant Recognized by Petrobras with Suppliers Award for Health and Wellness
(Clariant, 24.Oct.2024) — Clariant Oil Services, a producer and supplier of specialty oilfield production chemicals and services to the oil and gas industry, was honored with the Petrobras Best Suppliers Award in the Health category for its VIVAZ Program. This wellness initiative fosters positive habits and holistic well-being for employees […]
Mexico Pacific working with financial advisors for financing for Saguaro LNG, executive says
HOUSTON, TEXAS (Fidencio Casillas and Pietro D. Pitts, Energy Analytics Institute, 24.Oct.2024) — Mexico Pacific, which is developing the 30 million tonnes per annum (MTPA) Saguaro EnergĂa LNG Facility on Mexico’s Pacific Coast and and the associated Sierra Madre Pipeline, continues with work related to a final investment decision (FID) […]
US Treasury Releases Final Rules to Onshore Clean Energy Technologies
(U.S. Department of the Treasury, 24.Oct.2024) — Today, the U.S. Department of the Treasury and the IRS released final rules for the Advanced Manufacturing Production Credit (Section 45X of the Internal Revenue Code), to spur continued growth of U.S. clean energy manufacturing as part of President Biden and Vice President […]
EQT Hits Net Zero Scope 1 and Scope 2 GHG Â Emissions Target Ahead of 2025 Â
(EQT, 23.Oct.2024) — EQT Corporation has achieved its commitment to reach net zero Scope 1 and Scope 2 greenhouse gas (“GHG”) emissions1 across the company’s legacy operations ahead of its 2025 goal. This milestone covers the entirety of EQT’s upstream operations, inclusive of the recently acquired Tug Hill/XcL Midstream and Alta […]
Core Laboratories Reports 3Q:24 Results (PDF Download)
(Core Lab, 23.Oct.2024) — Core Laboratories Inc. reported third quarter 2024 revenue of $134,400,000. Core’s operating income was $19,800,000, with diluted earnings per share (“EPS”) of $0.25, all in accordance with U.S. generally accepted accounting principles (“GAAP”). Operating income, ex-items, a non-GAAP financial measure, was $18,200,000, yielding operating margins of […]
Dover Fueling Solutions Launches New EV Charger
(Dover, 23.Oct.2024) — Dover Fueling Solutions (“DFS”), a part of Dover and a global provider of advanced customer-focused technologies, services and solutions in the fuel and convenience retail industries, today announced the launch of the Wayne PWR™ DC fast charger. This new electric vehicle charger (EVC) addresses critical market gaps in […]
Nabors Reports 3Q:24 Results, Updates on Saudi Arabia (PDF Downloads)
(Nabors, 22.Oct.2024) — Nabors Industries Ltd. reported third quarter 2024 operating revenues of $732mn, compared to operating revenues of $735mn in the second quarter. The net loss attributable to Nabors shareholders for the quarter was $56mn, compared to a net loss of $32mn in the second quarter. This equates to […]
Brooklyn to Receive a Charge From Electric School Bus BatteriesÂ
(First Student, 22.Oct.2024) — The Brooklyn community is on the brink of a transformative change, as the electrification of school buses promises to drastically reduce emissions, eliminate noise pollution, and lead the charge against climate change. Student transportation and electrification leader, First Student, along with Con Edison, one of the […]
Tourmaline and Clean Energy Open CNG Stations in Western Canada
(Tourmaline, 22.Oct.2024) — Tourmaline Oil Corp. and Clean Energy Fuels Corp. announced the opening of two new compressed natural gas (CNG) fueling stations in Alberta, marking a key milestone in their continuing efforts to build Western Canada’s first commercial-grade public CNG fueling network. The new locations in Calgary and Grande […]
Fact sheet: Citgo Petroleum’s US refineries, terminals, and pipelines
HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 18.Oct.2024, Words: 185) — Citgo Petroleum Corp. has 3 strategically located, deep conversion refineries in Texas, Louisiana and Illinois. Combined, these 3 refineries have a combined total refining capacity of approximately 807,000 b/d. Each refinery has the capability to process large volumes […]
LatAm NRG matters: highlights, heard from Brazil and Cuba to Mexico and Venezuela
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 18.Oct.2024, Words: 494) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 18 Oct. 2024. —Brazil: TotalEnergies will divest its fuel distribution activities in Brazil to the Brazilian co. SIM Distribuidora, the French co. said.
EAI brief: Amber Energy CEO resigns from Exxon’s BODs
HOUSTON, TEXAS (By editors with Energy Analytics Institute, 17.Oct.2024, Words: 65) — Amber Energy CEO Gregory J. Goff resigned as a member of the board of directors of Exxon Mobil Corporation to pursue other business opportunities. Exxon revealed the details in an 17 Oct. 2024 Form 8-K filing with the […]
Greening to Build 60 MWac Solar Plant in Indiana
(Greening Group, 17.Oct.2024) — Greening, a diversified company focused on the generation, construction of projects, and commercialization of renewable energy, has been awarded the construction of a 60 MWac photovoltaic power generation plant that will supply renewable energy to a major technology company at one of its facilities in the […]
SLB Reveals Definitive Deal to Divest Its Interests in Palliser Block
(Energy Analytics Institute, 17.Oct.2024) — SLB has entered into a definitive agreement to divest its interests in the Palliser Block located in Alberta, Canada. The Palliser Block consists of oil and gas wells, surface facilities, a pipeline network and certain oil and gas development rights, SLB said 17 Oct. 2024 […]
Phillips 66 to Shut Refinery, End Gasoline Output in Los Angeles
(Reuters, 16.Oct.2024) — Phillips 66 said it will shut its large Los Angeles-area oil refinery late next year, delivering a blow to California’s fuel supply amid complaints about the state’s high prices. Phillips 66 CEO Mark Lashier cited “market dynamics” for the decision. The Los Angeles facility provides lower profits than other company oil processing plants, a […]
Overview: Shell Deer Park
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 16.Oct.2024) — Just before the Great Depression, Shell became the first manufacturer to call Deer Park home in 1929. At that time, Deer Park had no other businesses or buildings in what is now a bustling community about 20 miles east of downtown […]