Category: USA

BW Limited on Ex-Dividend Trading

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(Energy Analytics Institute, 9.Sep.2024) — BW LPG Limited will be traded ex-dividend on the Oslo Stock Exchange from 9 Sep. 2024 and from 10 Sep. on the New York Stock Exchange (NYSE), the company said 9 Sep. in an official statement. ____________________ By Energy Analytics Institute staff. © Energy Analytics Institute […]

Tropical Cyclone Six Impact to the Port: Hurricane Readiness Condition 3

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(Port of Corpus Christi, 9.Sep.2024) — Due to the active tropical conditions anticipated in the Gulf of Mexico, the Port of Corpus Christi has increased its Hurricane Readiness Status to Hurricane Readiness Level 3 (Increased Readiness), in accordance with its 2024 Hurricane Readiness Plan. The Port continues to monitor possible impact scenarios in […]

US Court Officer Moves to Block Creditors from Derailing Citgo Auction

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(Reuters, 9.Sep.2024) — U.S. federal court officer overseeing an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum on Monday asked the judge in the case to prevent creditors from pursuing additional lawsuits that could derail the sales process. Three creditors that had registered claims with the court but are unlikely to […]

Noble Announces Major Shareholder Notification

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(Noble, 6.Sep.2024) — Pursuant to Section 30 of the Danish Capital Markets Act, Noble Corporation plc (CSE: NOBLE, NYSE: NE) hereby announces the receipt of a major shareholder notification from APMH INVEST A/S. On 5 Sep. 2024, APMH INVEST A/S, acting on behalf of itself and its ultimate owner A.P. MØLLER […]

Lummus Names Obayagbona as CFO

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(Energy Analytics Institute, 5.Sep.2024) — Lummus Technology announced that its board of directors has appointed Mr. Edosa Obayagbona to serve as the company’s Executive Vice President and Chief Financial Officer (CFO).  In this role, Obayagbona will join Lummus’ executive team and lead all aspects of the company’s financial management, including […]

Brock Group Names CFO

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(Energy Analytics Institute, 5.Sep.2024) — The Brock Group, after an extensive search, announced that Mike Dear has joined the organization as the Chief Financial Officer (CFO), effective 26 Aug. 2024.  “We are extremely pleased to have Mike join us as the CFO for Brock,” said Frank Bardonaro, Jr., CEO for the […]

Enverus Reveals Texas’ Renewable Energy Hot Shots 

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(Enverus, 4.Sep.2024) — Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has released a list of the top solar, wind and energy storage developers in Texas and the counties they operate in. This list leverages Enverus’ proprietary Interconnection Queue Analytics tool and transmission project […]

Noble Corp. Closes Diamond Acquisition

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(Noble, 4.Sep.2024) — Noble Corporation plc announces the completion of its acquisition of Diamond Offshore Drilling, Inc.  This transaction enhances Noble’s position as a leading offshore driller, creating the largest fleet of 7th generation dual-BOP drillships in the industry, and adding approximately $2bn of backlog. Following completion of the acquisition of Diamond, […]

Hess BODs Declares Regular Quarterly Dividend

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(Energy Analytics Institute, 4.Sep.2024) — The Board of Directors of Hess Corporation declared a regular quarterly dividend of $0.50/share payable on the common stock of the corporation on 30 Sep. 2024 to holders of record at the close of business on 16 Sep. 2024. The dividend represents a 14% increase vs […]

Fitch Rates Crescent Energy’s $250mn Add-On Issue

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(Fitch, 4.Sep.2024) — Fitch Ratings rates the $250mn add-on issue to Crescent Energy Finance LLC’s existing $750mn 7.375% 2033 notes, in line with Crescent’s existing senior unsecured debt BB- ratings. The proceeds from the new tap issue will be used to reduce borrowings under the company’s reserve-based lending facility. Crescent […]

Permian Resources to Increase Base Dividend

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(Permian Resources, 3.Sep.2024) — Permian Resources Corporation announced an update to its return of capital strategy, which increases its quarterly base dividend from $0.06 per share to $0.15 per share ($0.60 per share annually). This represents a 150% increase to the company’s prior base dividend and provides a leading base […]

Chevron Boosts Recovery at Two Facilities in US GOM

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(Chevron, 3.Sep.2024) — Chevron Corporation has started water injection operations at two projects to boost oil and natural gas recovery at the company’s existing Jack/St. Malo and Tahiti facilities in the deepwater U.S. Gulf of Mexico, where Chevron operations produce some of the world’s lowest carbon intensity oil and gas. “Delivery of these two projects […]

Permian Resources Execs to Present at Barclays Conference

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(Energy Analytics Institute, 3.Sep.2024) — Permian Resources Corporation Co-CEO Will Hickey and CFO Guy Oliphint are scheduled to present at the Barclays CEO Energy-Power Conference in New York City, New York on 3 Sep. 2024 at 12:40 p.m. Eastern Time, the company said 3 Sep. 2024 in an official statement. […]

Weatherford Acquires Datagration Solutions

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(Weatherford, 3.Sep.2024) — Weatherford International plc announced the acquisition of Datagration Solutions Inc., an innovator in unified data integration, analytics, and machine learning. The acquisition establishes Weatherford as having one of the industry’s most capable and contemporary digital offerings for production and asset optimization and demonstrates its commitment to continuously driving innovation across […]

Fitch Sees Pickup in Permian Transactions

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(Energy Analytics Institute, 30.Aug.2024) — ”Fitch believes Permian transactions could pick up again if large producers choose to shed non-core assets, following recent consolidation, to meet debt reduction targets or re-focus their asset base,” Fitch said 9 Aug. 2024 in an official statement. ”These assets could be acquisition targets for […]

Major Integrated to Sell Unused Energy Assets on AllSurplus Marketplace

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(Liquidity Services, 28.Aug.2024) — Liquidity Services, a global commerce company powering the circular economy, announced the sealed bid auction of energy surplus assets for a leading integrated oil and gas partner. Three unused, uninstalled ANGI compressed natural gas (CNG) refueling stations are currently available until 6:00 pm EDT on 12 […]

A Month After Venezuela’s Contested Election, the Opposition Fights On

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(The Washington Post, 27.Aug.2024) — A month ago, Venezuela’s opposition nurtured a cautious hope. A national election seemed to present a genuine chance to oust the entrenched autocratic regime of President NicolĂĄs Maduro. Even as Maduro and his allies stacked the odds against their opponents, disqualifying top candidates and wielding the […]

ExxonMobil Global Outlook: Our view to 2050

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(ExxonMobil, 26.Aug.2024) — In 2050, the world will be different—vastly different. To meet critical needs, the world will need to increase access to reliable, affordable energy from a broad set of solutions. ____________________

Exxon Sees 2050 Oil Use at Current Level, Despite Net Zero Goal

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(Bloomberg, 26.Aug.2024) — Exxon Mobil Corp. forecasts global oil demand in 2050 will be the same — or even slightly higher — than current levels, putting efforts to reach net zero carbon emissions by mid-century well out of reach. Oil demand will remain above 100 million barrels a day through […]

EVLO Puts into Operation a First Battery Energy Project in the US

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(EVLO, 20.Aug.2024) — EVLO Energy Storage Inc., a fully integrated battery energy storage system (BESS) provider and wholly owned subsidiary of Hydro-QuĂ©bec, today announced that it has completed the commissioning of a first utility-scale BESS project in the United States. The contracted 3 MW/12 MWh installation is in Troy, Vermont. […]

Petronet LNG Selects Lummus’ Novolen Technology for New, Large-Scale Plant in India

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(Lummus Technology, 20.Aug.2024) — Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced an award from Petronet LNG Ltd. Petronet will license Lummus’ NovolenŸ polypropylene (PP) technology for a new 500 KTA plant in Dahej, Gujarat, India. “This award strengthens Novolen’s position in India and around the world, reinforcing it as […]

Fortera Secures $85mn for Deployment of Low-Carbon Cement

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(Fortera, 20.Aug.2024) — To meet the growing demand to lower the cement industry’s carbon emissions, advanced materials manufacturer Fortera secured $85mn in Series C funding to scale the deployment of its low-carbon cement technology that integrates with existing infrastructure. The round included participation from previous investors Khosla Ventures and Temasek, and first-time investments from Wollemi Capital, NOVA […]

TGS Secures Extension to Ocean Bottom Node Program in GOM

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(TGS, 20.Aug.2024) — TGS announced the award of an Ocean Bottom Node (OBN) data acquisition contract in North America. This four-month extension to an existing contract will build on existing operations, reinforcing TGS’ position in the market and underscoring the commitment to delivering high-quality seismic data solutions. The project is […]

FMC Submits Applications in Eight Countries for Dodhylexℱ Active

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(FMC, 20.Aug.2024) — FMC Corporation, an agricultural sciences company, recently submitted regulatory applications for Dodhylexℱ active herbicide in eight rice-growing countries. Registration dossiers were submitted in India, Brazil, the Philippines, the United States, Colombia, South Korea, Peru and Taiwan, which account for approximately 35% of the estimated 165 million hectares of planted rice globally. Regulatory submissions for Dodhylexℱ active are […]

Oxy on Continued Progress on Debt Reduction, Divestiture Initiatives

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(Oxy, 19.Aug.2024) — Occidental announced it has achieved $3bn in principal debt reduction in the third quarter of 2024, utilizing robust organic cash flow from operations and proceeds from divestitures. “We are pleased with the rapid and significant progress of our deleveraging program along with enhancements made to our already […]

SLB and Palo Alto Networks to Strengthen Cybersecurity

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(SLB, 19.Aug.2024) — Global energy technology company SLB and global cybersecurity company Palo Alto Networks announced they are expanding their collaboration to strengthen cybersecurity for the energy sector. The companies will combine SLB’s cloud and edge technologies and domain expertise in the energy industry with Palo Alto Networks’ cross-industry, platform-based […]

Fallen Angels Remain Costly Despite Tightening Spreads

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(S&P Global Ratings, 19.Aug.2024) — The absolute cost of falling to speculative-grade (to ‘BB+’ from ‘BBB-‘) for U.S. corporates has shrunk considerably to 24 basis points (bps) as of 31 Jul. 2024, from 54 bps the year prior, S&P Global Ratings said in “The Cost Of A Notch: Fallen Angels […]

NASA Funds Research Projects Advancing STEM Career Development

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(NASA, 14.Aug.2024) — NASA has awarded $6mn to 20 teams from emerging research institutions across the United States supporting projects that offer career development opportunities for science, technology, engineering, and mathematics (STEM) students. This is the third round of seed funding awarded through the agency’s MOSAICS (Mentoring and Opportunities in STEM with Academic Institutions for Community Success) […]

Equinor Gets Offshore Wind Lease in US Central Atlantic Auction

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(Equinor, 14.Aug.2024) — Equinor has been announced as a provisional winner in the Bureau of Ocean Energy Management’s (BOEM) offshore wind energy lease auction in the U.S. Central Atlantic region. The ~2 gigawatt (GW) lease will have the capacity to produce enough energy to power approximately 900,000 U.S. homes. With a […]

Shell Invests in Water Injection at US GOM Field

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(Shell, 14.Aug.2024) — Shell Offshore Inc., a subsidiary of Shell plc, has taken a Final Investment Decision (FID) on a ‘waterflood’ project at its Vito asset in the US Gulf of Mexico. Water will be injected into the reservoir formation to displace additional oil. The process is due to begin in […]

Ecopetrol Reveals 2Q:24 Results

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(Ecopetrol, 12.Aug.2024) — During the Second Quarter of 2024 (2Q24), Ecopetrol Group confronted a challenging environment, which continues to be impacted by several external variables, including the revaluation of the Colombian peso, inflationary pressures, and a decrease in the prices of our refined products. We managed these challenges with resilience, maximizing operational […]

Chevron Starts Production at Anchor in US GOM

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(Chevron, 12.Aug.2024) — Chevron Corporation started oil and natural gas production from the Anchor project in the deepwater U.S. Gulf of Mexico. Anchor production marks the successful delivery of high-pressure technology that is rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 feet below sea […]

First Oil from the Anchor field in Gulf of Mexico

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(TotalEnergies, 12.Aug.2024) — TotalEnergies announces the start of production from the Anchor field, located in the US Gulf of Mexico, in which the company has a 37.14% interest alongside operator Chevron (62.86%). Located 225 km off the Louisiana coast, Anchor, which development was launched in Dec. 2019, consists of a […]

Rice’s Baker Institute unveils Argentina Energy Sector Initiative

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(Baker Institute, 8.Aug.2024) — Rice University’s Baker Institute for Public Policy announces a new initiative focused on the Argentine energy sector that will result in conferences, reports and workshops. Argentina possesses a wide range of energy resources, including the Vaca Muerta shale formation which contains the world’s second largest unconventional […]

Rockefeller Foundation Green Power Gap

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(Rockefeller, 7.Aug.2024) — The Rockefeller Foundation released a new report that calculates an 8,700 terawatt-hour (TWh) “Green Power Gap” across 72 countries in Africa, Asia, Latin America and the Caribbean, and the Middle East. Currently home to 3.8 billion people, these countries must deploy 8,700 TWh of clean power by 2050 – approximately twice the United States’ annual generation – […]

Sempra Reports 2Q:24 Earnings

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(Sempra, 6.Aug.2024) — Sempra today reported second-quarter 2024 earnings, prepared in accordance with generally accepted accounting principles (GAAP), of $713mn, or $1.12 per diluted share, compared to second-quarter 2023 GAAP earnings of $603mn, or $0.95 per diluted share. On an adjusted basis, the company’s second-quarter 2024 earnings were $567mn, or $0.89per diluted share, compared to $594mn, or $0.94 per diluted share in […]

Bristow Reports 2Q:24 Results, Raises Outlook

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(Bristow, 6.Aug.2024) — Bristow Group Inc. reported net income attributable to the company of $28.2mn, or $0.96 per diluted share, for its quarter ended 30 June 2024 (the “Current Quarter”) on operating revenues of $352.5mn compared to net income attributable to the company of $6.6mn, or $0.23 per diluted share, for the quarter ended 31 March 2024 (the “Preceding […]

Diamond Offshore Reports 2Q:24 Results

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(Diamond Offshore, 6.Aug.2024) — Diamond Offshore Drilling, Inc. reported the following results for the second quarter of 2024: Bernie Wolford, Jr., President and Chief Executive Officer of Diamond Offshore, stated, “We are pleased with our second quarter results, achieving adjusted EBITDA of $58mn, which is in line with our guided range. […]

Kosmos’ 2Q:24 Update on Projects from Mauritania to Senegal

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(Kosmos, 5.Aug.2024) — Kosmos Energy Ltd. announced its financial and operating results for the second quarter of 2024. For the quarter, the company generated a net income of $60mn, or $0.12 per diluted share. When adjusted for certain items that impact the comparability of results, the company generated an adjusted net income(1) of $80mn, or $0.17 per […]

Cheniere and Galp Ink Long-Term LNG SPA

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(Cheniere, 5.Aug.2024) — Cheniere Energy, Inc. announced that its subsidiary Cheniere Marketing, LLC, entered into a long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) with Galp Trading S.A., a subsidiary of Galp Energia, SGPS, S.A. Under the SPA, Galp has agreed to purchase approximately 0.5 million tonnes per […]