USA Archives - Page 21 of 59 - Energy Analytics Institute (EAI)

Higher LNG Prices to Limit Asian Demand, WoodMac Says

(WoodMac, 12.Jun.2024) — European gas storage is forecast to reach 100% by the end of September and remain full until the end of October, with an additional 4 million tonnes per annum (mmtpa) of floating storage also accumulated according to a new report by data and analytics company Wood Mackenzie. […]

Clean Energy Expands Boron LNG Plant Capacity

(Clean Energy, 11.Jun.2024) — Clean Energy Fuels Corp. (NASDAQ: CLNE), the largest provider of the cleanest fuel for the transportation market, announced that construction of a third production train at its liquefied natural gas (LNG) plant in Boron, California, has been completed, increasing the plant’s volume capacity by 50 percent. Already […]

Noble Publishes Form 8-K Pertaining to Diamond Deal

(Energy Analytics Institute, 11.Jun.2024) — Noble Corporation plc published its current report on Form 8-K pertaining to the announced transaction with Diamond Offshore Drilling, Inc. ____________________ By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.

SFPP Announces Binding Open Season for Additional Capacity on Its East Line System

(SFPP, 10.Jun.2024) — SFPP, L.P. (SFPP), a subsidiary of Kinder Morgan, Inc. (NYSE: KMI), launched a binding open season to solicit commitments to support a proposed expansion of the East Line portion of its pipeline system from El Paso, Texas to Tucson, Arizona. The open season began at 8:00 a.m. […]

Noble to Acquire Diamond Offshore

(Noble, 10.Jun.2024) — Noble Corporation plc (CSE: NOBLE) (NYSE: NE) and Diamond Offshore Drilling, Inc (NYSE: DO) entered into a definitive merger agreement under which Noble will acquire Diamond in a stock plus cash transaction. As part of the transaction, Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration […]

Glenfarne Energy Transition’s Texas LNG Receives Key Local Tax Abatement

(Glenfarne Energy, 6.Jun.2024) — Texas LNG, a four million tonnes per annum (MTPA) liquefied natural gas (LNG) export terminal to be constructed in the Port of Brownsville, Texas and owned by Glenfarne Energy Transition, was approved for a Texas Tax Code Chapter 312 tax abatement from Cameron County. The tax […]

Hess Advised in Secondary Public Offering

(Hess, 6.Jun.2024) — Hess Midstream LP (NYSE: HESM) (HESM) announced the pricing of an underwritten public offering of an aggregate 10,000,000 Class A shares representing limited partner interests in HESM by an affiliate of Global Infrastructure Partners (the Selling Shareholder) at a public offering price of US$34.30 per Class A […]

Technip and Turner Awarded Contract by ExxonMobil for Louisiana CCS Project

(Technip, 6.Jun.2024) — Technip Energies (PARIS:TE), in consortium with Turner Industries, has been awarded the Engineering, Procurement, and Construction (EPC) contract by ExxonMobil Low Carbon Solutions Onshore Storage LLC. Technip Energies will oversee the engineering and procurement while Turner Industries will be responsible for the construction. The contract covers ExxonMobil […]

Equinor Solidifies New York Offtake Deal for Empire Wind 1

(Equinor, 4.Jun.2024) — Equinor announced the execution of the Purchase and Sale Agreement (PSA) with the New York State Energy Research and Development Authority (NYSERDA) for the renewable power generated by the Empire Wind 1 offshore wind project. This agreement follows NYSERDA’s February announcement that Equinor had been selected as a […]

NMPRC Approves New PNM Energy Resources for 2026

(NMPRC, 31.May.2024) — The New Mexico Public Regulation Commission (NMPRC) approved an application by Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of PNM Resources (NYSE: PNM), for new energy resources to be added by summer 2026. The new resources, totaling 410 megawatts of solar and battery storage capacity, are planned to […]

Noble Announces Changes to its Share Capital

(Noble, 31.May.2024) — Noble Corporation plc (NYSE: NE, CSE: NOBLE) announces changes to its share capital. During the period since 30 Apr. 2024, 57,454 new A ordinary shares each with a nominal value of USD 0.00001 have been issued. 57,454 new A ordinary shares have been issued to certain holders of […]

EAI’s NRGBriefs: May 2024

(Energy Analytics Institute, 31.May.2024) — Energy briefs as well as others related to finance and projects during May 2024 including Offshore Technology Conference (OTC) 2024 highlights from Houston, Texas; the government of Trinidad and Tobago receiving a specific 2-yr licence from OFAC to pursue the exploration, production and export of […]

U. S. Steel and Nippon Steel Announce Receipt of All Non-U.S. Regulatory Approvals

(U.S. Steel, 30.May.2024) — United States Steel Corporation (NYSE: X) and Nippon Steel Corporation (TSE: 5401) have received all regulatory approvals outside of the U.S. related to the proposed transaction between U. S. Steel and Nippon Steel. These approvals have been received from the Directorate-General for Competition of the European […]

ConocoPhillips to Acquire Marathon Oil in All-stock Deal

(ConocoPhillips, 29.May.2024) — ConocoPhillips (NYSE: COP) and Marathon Oil Corporation (NYSE: MRO) announced today that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5bn, inclusive of $5.4bn of net debt. Under the terms of […]

Chevron Updates Stockholders at Annual Meeting

(Chevron, 29.May.2024) — Chevron Corporation (NYSE: CVX) provided an overview of the company’s business performance and plans at its 2024 Annual Meeting of Stockholders. “Chevron continues to deliver strong operational performance, maintain cost and capital discipline and consistently return cash to shareholders,” said Michael Wirth, Chevron’s chairman and CEO. “We’ve strengthened our portfolio […]

Hess Corp. Receives Stockholder Approval for Proposed $53bn Merger with Chevron

(Hess Corporation, 28.May.2024) — Hess Corporation (NYSE: HES) has received the necessary approval of its stockholders for closing the company’s merger with Chevron Corporation. At the special meeting of Hess stockholders held today, a majority of the outstanding shares of Hess common stock were voted in favor of the adoption of the […]

Norfolk Southern in Deal to Resolve federal East Palestine Derailment Claims

(Norfolk Southern, 23.May.2024) — Norfolk Southern Corporation (NYSE: NSC) has reached an agreement on a consent decree with the following U.S. agencies: the Department of Justice (DOJ), the Environmental Protection Agency (EPA), and the Department of the Interior (DOI) to resolve all their claims and investigations arising from the derailment in East Palestine, […]

John Hess Personally Calls Investors to Support Chevron Deal Before Vote

(Bloomberg, 22.May.2024) — John Hess, the boss of the oil company that bears his family name, is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter. The Hess Corp. chief executive […]

Zachry Initiates Voluntary Court-supervised Chapter 11

(Zachary, 21.May.2024) — Zachry Holdings, Inc. (ZHI) announced that ZHI and certain of its subsidiaries have initiated a voluntary court-supervised Chapter 11 process that provides them with time and flexibility to resolve issues related to the Golden Pass LNG (GPX) export terminal project in Sabine Pass, TX. This action is […]

APA Reveals over $700mn in Asset Sales from Two Transactions

(APA Corp., 20.May.2024) — APA Corporation (Nasdaq: APA) announced the sale of non-core producing properties by Apache Corporation and certain of its subsidiaries in two separate transactions with aggregate proceeds of more than $700mn, prior to customary closing adjustments. Combined, the properties represent estimated net production in the first-quarter 2024 […]

ADNOC Inks Equity Stake, LNG Offtake Deal with NextDecade

(ADNOC, 20.May.2024) — ADNOC announced the acquisition of a 11.7% stake in Phase 1 (Trains 1-3) of NextDecade Corporation’s (Nasdaq: NEXT) Rio Grande LNG (RGLNG), a liquefied natural gas (LNG) export project located in Texas, US, which is expected to produce a less carbon-intensive LNG. Highlights: –11.7% equity stake in Phase 1 […]

Glass Lewis Urges Hess Shareholders to Vote for Chevron Deal

(Hess, 20.May.2024) — Hess Corporation (NYSE: HES) announced that independent proxy voting and corporate governance advisory firm Glass, Lewis & Co. has recommended that Hess shareholders vote FOR the proposed merger with Chevron. In its report, Glass Lewis notes “the strategic and financial merits of the proposed merger are sound and reasonable” and that […]

California Ports Gear up to Build Offshore Wind Ports

(American Journal of Transportation, 17.May.2024) — Two California ports, Long Beach and Humboldt Bay, are gearing up to build offshore wind ports but still need financing. The two ports plan to build facilities that will assemble and launch floating offshore wind turbines to be deployed off the coasts of Central and […]

US Election Could Decelerate Energy Transition

(Wood Mackenzie, 16.May.2024) — The Infrastructure Investment and Jobs Act (IIJA) of 2021 and the Inflation Reduction Act (IRA) of 2022 catapulted the US to global leadership in decarbonisation. But a victory for former President Donald Trump in the November 2024 election, combined with long-standing issues around the US relationship with […]

Citgo Petroleum Reports 1Q:24 Results

(Citgo, 9.May.2024) — Citgo Petroleum Corporation reported its 2024 first quarter financial and operational results. Historically favorable refining margins and strong asset reliability led to first quarter net income of $410mn, EBITDA of $709mn and Adjusted EBITDA of $677mn, compared with net income of $937mn and EBITDA of approximately $1.4bn(2) for the first quarter of 2023. (1) EBITDA […]

Oil Companies Expand Offshore Drilling, Pointing to Energy Needs

(The New York Times, 9.May.2024) — Shell and others say they plan to drill for oil and gas in the Gulf of Mexico in part because doing so releases fewer greenhouse gases than drilling on land. About 80 miles southeast of Louisiana’s coast, 100,000 metric tons of steel floats in […]

PetroTal Announces Q1 2024 Financial and Operating Results

(PetroTal, 9.May.2024) — PetroTal Corp. (TSX: TAL, AIM: PTAL and OTCQX: PTALF) reported its operating and financial results for the three months ended 31 Mar. 2024 (“Q1”). All amounts herein are in United States dollars unless otherwise stated. Selected Q1 2024 Highlights — Average Q1 2024 sales and production of […]

Dragonfly Energy Announces Breakthrough in Lithium Battery Production

(Dragonfly Energy, 9.May.2024) — Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) has made a significant breakthrough in battery manufacturing with the successful production of PFAS-free electrodes in lithium battery cells. As concerns mount over PFAS (per- and polyfluoroalkyl substances), also known as ‘forever chemicals,’ Europe is poised to enact restrictions on its […]

OTC Discusses the Future of the Global Energy Evolution

(OTC, 9.May.2024) — The 55th annual Offshore Technology Conference (OTC) concluded today at NRG Park, uniting the world’s elite energy experts and professionals, to discuss the future of offshore energy. OTC 2024 showcased breakthrough innovations in the industry, and a multi-disciplinary technical program exploring the technologies needed to address the […]

NextDecade Provides 1Q:24 Business Update

(NextDecade, 9.May.2024) — NextDecade Corporation (NASDAQ: NEXT) provided an update on developmental and strategic activities for the first quarter 2024 and early second quarter 2024. CEO Commentary “Construction of Phase 1 at the Rio Grande LNG Facility continues to progress according to plan, as we work alongside Bechtel to construct […]

Summit Reports 1Q:24 Results

(Summit Midstream, 2.May.2024) — Summit Midstream Partners, LP (NYSE: SMLP) (SMLP or the “Partnership”) announced its financial and operating results for the three months ended 31 Mar. 2024. Highlights Reduced net leverage ratio to approximately 3.9x, a dramatic reduction from 5.4x in the fourth quarter of 2023, furthering progress toward achieving 3.5x net […]

Sandstorm Gold Royalties Reports 1Q:24 Results

(Sandstone Gold, 2.May.2024) — Sandstorm Gold Ltd. (NYSE: SAND) (TSX: SSL) has released its financial results for the first quarter ended 31 Mar. 2024 (all figures in U.S. dollars). First Quarter Highlights Revenue of $42.8 million (Q1 2023 — $44mn); Attributable gold equivalent ounces1 of 20,316 ounces (Q1 2023 — 28,368 ounces); Cash flows from operating activities, excluding changes […]

Marathon Oil Reports 1Q:24 Results

(Marathon, 1.May.2024) — Marathon Oil Corporation (NYSE: MRO) reported first quarter 2024 net income of $297mn or $0.52 per diluted share, which includes the impact of certain items not typically represented in analysts’ earnings estimates and that would otherwise affect comparability of results. Adjusted net income was $317mn or $0.55 per diluted share. Net operating cash flow was $757mn or $861mn before changes […]

Uranium Energy on Bill to Ban Russian Uranium Imports

(Uranium Energy, 1.May.2024) — Uranium Energy Corp (NYSE American: UEC) applauds last night’s vote by the United States Senate for passing H.R. 1042, a bill to ban Russian uranium imports into the United States, by unanimous consent. The House of Representatives passed the bill in December 2023. Senator Barrasso of Wyoming stated: […]

Southern Power expands Millers Branch Solar Facility in Texas

(Southern Power, 1.May.2024) — Southern Power, a subsidiary of Southern Company, announced the expansion of its 29th solar project — Millers Branch Solar Facility. The Phase II expansion represents an additional 180-megawatts (MW) from the current Phase I 200 MW facility that is nearing the start of construction. The project […]

APA Corp. Announces 1Q:24 Financial and Operational Results

(APA Corp., 1.May.2024) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the first quarter of 2024. Key Takeaways Reported production of 389,000 barrels of oil equivalent (BOE) per day; adjusted production, which excludes Egypt noncontrolling interest and tax barrels, was 320,000 BOE per day; Generated net […]

LNG Energy Group on Results, Venezuela

(LNG Group, 30.Apr.2024) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) announced its financial and operating results for the year ended on 31 Dec. 2023. On 15 Aug. (the “Closing Date”), LNG Energy Group completed the acquisition of Lewis Energy Colombia, Inc. and the financial and […]

Frontera on 1Q:24 Conference Call

(Frontera, 30.Apr.2024) — Frontera Energy Corporation (TSX: FEC) will release its financial and operational results for the first quarter ended 31 Mar. 2024, after markets close on 8 May 2024. A conference call for investors and analysts will be held on 9 May 2024, at 2:30 p.m. Eastern Time. Participants will include Gabriel de Alba, Chairman […]

EAI’s NRGBriefs: April 2024

(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 […]

Chevron Reveals 1Q:24 Results

(Chevron, 26.Apr.2024) — Chevron Corporation (NYSE: CVX) reported earnings of $5.5bn ($2.97/share – diluted) for first quarter 2024, compared with $6.6bn ($3.46/share – diluted) in first quarter 2023. Foreign currency effects increased earnings by $85mn. Adjusted earnings of $5.4bn ($2.93/share – diluted) in first quarter 2024 compared to adjusted earnings of […]

Phillips 66 Reports 1Q24 Results, Highlights Strategic Priorities

(Phillips 66, 26.Apr.2024) — Phillips 66 (NYSE: PSX) announced first-quarter earnings of $748mn, compared with earnings of $1.3bn in the fourth quarter. Excluding special items of $74mn, the company had adjusted earnings of $822mn in the first quarter, compared with fourth-quarter adjusted earnings of $1.4bn. “In the first quarter, we […]

Talos Reveals Organizational Changes

(Talos Energy, 25.Apr.2024) — Talos Energy Inc. (NYSE: TALO) announced updates to its organization that support Talos’s growth and strategic priorities and the recently closed QuarterNorth Energy Inc. acquisition. Sergio Maiworm, who joined Talos in 2018, was promoted to Executive Vice President and will continue to serve as Chief Financial […]

LNG Energy Inks Productive Participation Contracts in Venezuela

(LNG Energy Group, 24.Apr.2024) — LNG Energy Group Corp. (TSXV: LNGE) (TSXV: LNGE.WT) (OTCQB: LNGNF) (FRA: E26) announced that its wholly-owned subsidiary, LNGEG Growth I Corp. (LNG Venezuela), entered into a binding agreement with PDVSA Petroleo S.A. (PPSA), a subsidiary of Petroleos de Venezuela S.A. (PDVSA), the Venezuelan national oil […]

Weatherford Releases 1Q:24 Financial, Operational Results

(Weatherford, 24.Apr.2024) — Weatherford International plc (NASDAQ: WFRD) announced its results for the first quarter of 2024 and operational updates from Oman, the U.S. Gulf of Mexico, Canada, Thailand and beyond. ____________________

Billionaire Texas Oilman Inks Deal with PDVSA as US Sanctions Loom

(AP, 24.Apr.2024) — A company started by a Texas billionaire oilman announced a deal Wednesday with Venezuela’s state-owned oil company to rehabilitate five aging oil fields, days after the Biden administration put a brake on sanctions relief over concerns about the fairness of the country’s upcoming presidential election. LNG Energy […]

Potential Sour Crude Deficit Looming in the Gulf

(BTU Analytics, 23.Apr.2024) — Historically, more than half of Mexico’s heavy sour crude oil exports, mostly Maya blend, end up in the U.S., which is key for refining along the Gulf Coast, also known as PADD 3. However, recent reports suggest Mexico’s national oil company, Petróleos Mexicanos (Pemex), could cut […]

FERC to Allow Venture Global to Introduce Hazardous Flies to Gas Gate

(Energy Analytics Institute, 23.Apr.2024) — The Federal Energy Regulatory Commission (FERC) gave permission to Venture Global Plaquemines LNG, LLC to introduce hazardous fluids to the gas gate as described in the LNG company’s 16 Apr. 16, 2024 filing. “Your request is consistent with Conditions 11, 113, 114, 115, 117, and […]

Port of Corpus Christi Announces 1Q:24 Volumes

(Port of Corpus Christi, 19.Apr.2024) — The Port of Corpus Christi and its customers moved 48.9 million tons through the Corpus Christi Ship Channel in the first quarter of 2024, a slight decrease from the first quarter of 2023 of just over one percent. The Port’s customers saw a slight […]

Deals Show Enduring Appeal of US Gas

(Rystad Energy, 19.Apr.2024) — European companies have been cautiously adding to their upstream positions. More deals could follow. Ed Crooks examines the forces shaping the energy industry globally The great investor Warren Buffett says one of his rules is “never bet against America”. There are many who share that view, […]

US Reimposes Venezuela Oil Sanctions

(Argus, 17.Apr.2024) — The US administration today reimposed sanctions targeting Venezuela’s oil exports and energy sector investments and set a deadline of 31 May for most foreign companies to wind down business with state-owned PdV. The US decision rescinds a sanctions waiver issued last October, which allowed Venezuela to sell […]