(Venture Global, 18.Mar.2024) — Venture Global LNG announced the acquisition and construction of a new large fleet of LNG-powered vessels. Venture Global’s fleet will include nine vessels, currently under construction in South Korea, that will be delivered starting later this year. Six vessels will have a cargo capacity of 174,000 […]
Category: USA
Steel Tube Institute Backs Legislation to Curb Mexican Steel Imports
(Steel Tube Institute, 14.Mar.2024) — The Steel Tube Institute (STI) – an organization that brings together key producers in the steel industry to advance the use of steel tubing – today declared its support of new legislation preventing illegal steel imports from Mexico into the United States. Senators Tom Cotton (R-Arkansas) and Sherrod […]
Nucor Reveals 1Q:24 Earnings Guidance
(Nucor, 14.Mar.2024) — Nucor Corporation (NYSE: NUE) announced guidance for its first quarter ending March 30, 2024. Nucor expects first quarter earnings to be in the range of $3.55 to $3.65 per diluted share. Nucor reported net earnings of $3.16 per diluted share in the fourth quarter of 2023 and […]
Sempra Infrastructure Launches Cimarron Wind Project
(Sempra, 14.Mar.2024) — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), reached a positive final investment decision for the development, construction and operation of the Cimarron wind project, the third phase of the Energía Sierra Juarez (ESJ) wind complex. The Cimarron wind project will total approximately 320 megawatts (MW) […]
Upstream FIDs to Rise in 2024, with focus on Deepwater Resources
(WoodMac, 14.Mar.2024) — Up to 30 upstream projects larger than 50 million of barrels of oil equivalent (boe) could reach FID in 2024, an increase from 22 in 2023, according to a new report from Wood Mackenzie. The Wood Mackenzie report “Class of 2024: benchmarking this year’s upstream FIDs” states […]
NextDecade Updates on Strategic Plans for Early 2024
(NextDecade, 11.Mar.2024) — NextDecade Corporation (NASDAQ: NEXT) provided an update on developmental and strategic activities for the fourth quarter 2023 and early 2024. CEO Commentary “We are committed to maximizing long-term value for NextDecade’s shareholders by executing our business strategy efficiently and effectively,” said Matt Schatzman, NextDecade’s Chairman and Chief […]
Hess Updates Employees on Chevron Merger
(Hess, 7.Mar.2024) — Today, ExxonMobil announced that it is filing for arbitration regarding the applicability of a right of first refusal (ROFR) / pre-emption provision in the Stabroek joint operating agreement. We believe that the ROFR / pre-emption provision does not apply to the Chevron-Hess merger. We remain fully committed to […]
Upstream Scope 1 & 2 Emissions Intensity down 12% Since 2017
(Wood Mackenzie, 6.Mar.2024) — Scope 1 and 2 upstream emissions intensity has declined 12% since 2017, however, absolute emissions could plateau due to production growth, according to a new report from Wood Mackenzie. According to the report “Is upstream oil & gas delivering on decarbonisation?” Wood Mackenzie finds that while flaring […]
Exxon Signals Potential Counter Offer for Hess’s Guyana Assets
(Reuters, 6.Mar.2024) — Exxon Mobil Corp on Wednesday said it filed a contract arbitration claim related to Hess Corp‘s proposed sale of its Guyana oil properties, and suggested it may counter Chevron Corp‘s pending deal for the assets. The arbitration case seeks to preserve Exxon’s right to evaluate making a bid […]
Cheniere Prices $1.5bn Senior Notes due 2034
(Cheniere, 5.Mar.2024) — Cheniere Energy, Inc. (NYSE: LNG) priced its previously announced offering of Senior Notes due 2034. The Cheniere 2034 Notes will bear interest at a rate of 5.650% per annum. The Cheniere 2034 Notes will be issued at 99.789% of par and will mature on 15 Apr. 2034. The […]
Ecopetrol Production Averages 737 Mboe/d in 2023
(Ecopetrol, 1.Mar.2024) — Ecopetrol SA ended 2023 with strong operational results that drove achievements across the entire company. We have achieved the second-best financial results in history by following our financial planning, enhancing our traditional business, and managing the steps toward the energy transition, the company’s president Ricardo Roa Barragan said. […]
EAI’s NRGBriefs for Feb. 2024: Guyana, Mexico, Uruguay and Venezuela
HOUSTON, TEXAS (By editors with Energy Analytics Institute, 29.Feb.2024, Words: 3,790) — Energy briefs as well as others related to finance and projects during Feb. 2024 including Exxon Mobil and CNOOC considering their pre-emption rights to Hess Corp.’s stake in the offshore Stabroek Block; increases in electricity for the majority […]
Chevron Reveals First Solar-to-Hydrogen Project in California’s Central Valley
(Chevron, 29.Feb.2024) — Chevron New Energies, a division of Chevron U.S.A. Inc., is developing a 5-megawatt hydrogen production project in California’s Central Valley. The project aims to create lower carbon energy by utilizing solar power, land, and non-potable produced water from Chevron’s existing assets at the Lost Hills Oil Field […]
Exxon’s Curveball Move in Guyana Alters Chevron-Hess Deal Prospects
(Reuters, 28.Feb.2024) — Exxon Mobil‘s surprise challenge to Chevron‘s acquisition of Hess through a dispute over a stake in a major Guyana oil field could prove fruitful for the U.S. oil giant, even if it does not end up enlarging its holdings in the South American country. Exxon (XOM.N) said Monday it […]
Guyana not against Exxon acquiring Hess, VP Jagdeo says
GEORGETOWN, GUYANA (Reuters, 28.Feb.2024, Words: 95) — Guyana’s vice president Bharrat Jagdeo on Wednesday said the country will accept whatever is the result from discussions between Exxon Mobil Corp, Chevron Corp and Hess Corp regarding participation in the Stabroek block. Guyana is ready to welcome Chevron into the country, but would also accept […]
Exxon Raises Questions About Chevron’s $53bn Deal for Hess
(The New York Times, 27.Feb.2024) — America’s two largest energy companies, Exxon Mobil and Chevron, are jousting over a prized new source of oil in the waters off Guyana, in Latin America. The conflict is creating doubts over Chevron’s bid to acquire Hess for $53 billion, announced in October. Chevron this […]
Chevron Corp. Files S-4, Updates on Stabroek JOA
(Energy Analytics Institute, 26.Feb.2024) — Chevron Corporation believes that the $53bn merger with Hess Corporation presents the California-based energy giant with the opportunity to diversify its portfolio by acquiring Hess’ 30% interest offshore Guyana in the Stabroek block. The block has industry leading cash margins, a strong production growth outlook, potential […]
Concacaf and Aramco Ink Multi-year Partnership
(Aramco, 23.Feb.2024) — Concacaf has agreed to a multi-year Confederation-wide partnership with Aramco, a global integrated energy and chemicals company. Aramco will become the “Official Energy Partner” for all of Concacaf’s national teams and club competitions, beginning with the upcoming W Gold Cup, commencing today through to the Final on […]
US Lower 48 Oil Production Growth to Slow in 2024
(WoodMac, 22.Feb.2024) — US Lower 48 oil production growth exceeded expectations in 2023, adding 900,000 barrels per day (b/d) despite inflationary pressures, private consolidation, and declining rig activity. However, the repercussions of these decisions will impact supply moving forward as the region is poised for much lower growth in 2024 […]
![Repsol Reveals Strategic 2024-2027 Update [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2022/05/53431_repsol-sede-cerca.jpg)
Repsol Reveals Strategic 2024-2027 Update [PDF Downloads]
(Repsol, 22.Feb.2024) — “Over the next four years we will stay the course on the strategy we presented in our previous plan to address the energy transition and we will focus on all the types of energy that meet our customer’s needs. We are convinced that this approach, in which […]
![APA Reveals 4Q:23 Results, Updates on Suriname FID [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2022/08/us-apa-2q22-b.jpg)
APA Reveals 4Q:23 Results, Updates on Suriname FID [PDF Downloads]
(APA Corporation, 21.Feb.2024) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the fourth-quarter and full-year 2023. During the fourth-quarter 2023, APA reported net income attributable to common stock of $1.8bn, or $5.78 per share on a fully diluted basis. When adjusted for certain items that impact […]
Backcast Partners Announces Strategic Investment in Renegade Group
(Backcast Partners, 20.Feb.2024) — Backcast Partners, a provider of debt and equity capital for both middle-market private equity and non-private equity owned companies, announced its most recent investment in support of Renegade Group, LLC‘s refinancing of its existing debt. Renegade is a portfolio company of Corinthian Capital Partners. Renegade, established […]
EPCOR and SynerGen Reveal Solar Project in Eastern New Mexico
(EPCOR, 18.Feb.2024) — EPCOR USA and SynerGen Solar entered into an agreement to develop nearly 500 acres of land for the purpose of developing a solar energy project. SynerGen will design, build, operate and own the solar facility which will be built less than five miles south of downtown Clovis […]
US House Passes Bill to Reverse Biden’s LNG Pause
(Reuters, 15.Feb.2024) — A bill to strip the power of President Joe Biden’s administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday, but faces an uphill battle in the Senate. The House approved the bill sponsored by Representative August Pfluger […]
Carbon Intensity Regulation to Make, Break Low-carbon Hydrogen Market
(WoodMac, 15.Feb.2024) — The future of low-carbon hydrogen hinges on global policymakers introducing regulations and subsidies that focus on the carbon intensity of the hydrogen produced rather than its colour, according to Wood Mackenzie’s Horizons report ‘Over the rainbow: Why understanding full value-chain carbon intensity is trumping the colour of […]
Mexico Begins LNG Buildout as US Developers Look to South
(Canary Media, 15.Feb.2024) — At least a half-dozen LNG export projects are underway in the country — but whether most are completed will depend on politics to the north. Environmental activists have turned a spotlight in recent months on the rapid expansion of liquefied natural gas export terminals along the Gulf Coast of […]
Chesapeake, Delfin LNG and Gunvor Ink 0.5 MTPA Deal
(Chesapeake, 13.Feb.2024) — Chesapeake Energy Corporation (NASDAQ: CHK), Delfin LNG LLC and Gunvor Group Ltd, through Gunvor Singapore Pte Ltd, announced the entrance into a liquefied natural gas (LNG) export deal that includes executed Sales and Purchase Agreements (SPA) for long-term liquefaction offtake. Under the SPA, Chesapeake will purchase approximately 0.5 […]
DiamondBack and Endeavor Merge in $26bn Deal
(Endeavor, 12.Feb.2024) — Diamondback Energy, Inc. (NASDAQ: FANG) and Endeavor Energy Resources, L.P. entered into a definitive merger agreement under which Diamondback and Endeavor will merge in a transaction valued at approximately $26bn, inclusive of Endeavor’s net debt. The combination will create a premier Permian independent operator. The transaction consideration […]
Foss & Company Partners with Tokyo Gas on Energy Storage System
(Foss & Company, 12.Feb.2024) — Foss & Company, an institutional fund sponsor, is proud to announce its role as the exclusive provider of tax equity for the Longbow BESS project, a battery energy storage system (BESS) located in Brazoria County, TX, near Houston. This landmark project represents a significant $118.5 […]
Diamondback, Endeavor to Create $50bn Company
(Reuters, 11.Feb.2024) — U.S. shale oil rivals Diamondback Energy and Endeavor Energy Resources are close to finalizing a roughly $25 billion cash-and-stock deal that would create an oil and gas company valued at more than $50 billion, sources said on Sunday. Diamondback could announce a transaction as soon as Monday […]
Diamond Offshore Reveals New Floater Commitments
(Diamond Offshore, 8.Feb.2024) — Diamond Offshore Drilling, Inc. (NYSE: DO) executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the Ocean BlackLion, commencing in Sep. 2024 in direct continuation of the rig’s current contract. This contract extension represents approximately $350mn of additional backlog. […]
![ConocoPhillips Reports 4Q:23 and 2023 Results [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/02/us-conoco-west-houston-source-energy-analytics-institute-scaled.jpg)
ConocoPhillips Reports 4Q:23 and 2023 Results [PDF Downloads]
(ConocoPhillips, 8.Feb.2024) — ConocoPhillips (NYSE: COP) reported fourth-quarter 2023 earnings of $3bn, or $2.52 per share, compared with fourth-quarter 2022 earnings of $3.2bn, or $2.61 per share. Excluding special items, fourth-quarter 2023 adjusted earnings were $2.9bn, or $2.40 per share, compared with fourth-quarter 2022 adjusted earnings of $3.4bn, or $2.71 […]
New SIF-Prevention Training Gives Field Leaders Ownership in Safety Culture
(Chesapeake, 7.Feb.2024) — Chesapeake is continuing to enhance safety across the organization by recently holding a week-long train-the-trainer workshop for field leaders. The workshop is one part of a comprehensive training program focused on reducing Serious Incidents and Fatalities (SIFs). Ten leaders who oversee field personnel attended the workshop, which […]
![TotalEnergies Updates on Suriname FID 4Q:23 Webcast [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/10/FSRU-source-totalenergies.webp)
TotalEnergies Updates on Suriname FID 4Q:23 Webcast [PDF Downloads]
(TotalEnergies, 7.Feb.2024) — TotalEnergies SE reported its 4Q:23 and year end 2023 results, commenting on its Suriname FID planned for later in 2024 and other plans related to its LNG portfolio. ____________________
Tellurian Explores Sale of Haynesville Upstream Assets
(Tellurian, 6.Feb.2024) — Tellurian Inc. (NYSE American: TELL) has asked its financial advisor, Lazard, to explore opportunities for the sale of Tellurian’s upstream business. Chief Executive Officer Octávio Simões said, “As we commercialize Driftwood LNG, Tellurian has been reviewing its strategy, including the dynamics of the U.S. natural gas market […]
Venture Global and Grain LNG Ink New Deal
(Venture Global LNG, 5.Feb.2024) — Grain LNG and Venture Global announced the execution of a binding long-term terminal use agreement (TUA) enabling the regasification and sale of LNG from all of Venture Global’s terminals in Louisiana, including CP2 LNG, subject to obtaining necessary federal permits. Under the agreement, Venture Global […]
Sempra Infrastructure and JBIC in Collaboration in Support of the Energy Transition
(Sempra Infrastructure, 2.Feb.2024) — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), entered into a memorandum of understanding (MOU) with the Japan Bank for International Cooperation (JBIC) to cooperate on opportunities to advance the energy transition. Through this MOU, Sempra Infrastructure and JBIC aim to further project structuring to […]
![ExxonMobil Announces 2023 Results, Updates on Guyana [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2022/10/usa-exxon-building-source-energy-analytics-institute-a-scaled.jpeg)
ExxonMobil Announces 2023 Results, Updates on Guyana [PDF Downloads]
(Exxon, 2.Feb.2024) — Exxon Mobil Corporation announced fourth-quarter 2023 earnings of $7.6bn, or $1.91 per share assuming dilution. Fourth-quarter results included unfavorable identified items of $2.3bn including a $2bn impairment as a result of regulatory obstacles in California that have prevented production and distribution assets from coming back online. Impairments […]
FAQs: Suspension of Certain U.S. Sanctions with Respect to Venezuela
(OFAC, 2.Feb.2024) — Actions by Maduro and his representatives in Venezuela, including the arrest of members of the democratic opposition and the barring of candidates from competing in this year’s presidential election, are inconsistent with the agreements signed in Barbados in Oct. 2023 by representatives of Maduro and the opposition […]
Cheniere Announces Uplisting to the NYSE
(Cheniere, 31.Jan.2024) — Cheniere Energy, Inc. (NYSE American: LNG) and Cheniere Energy Partners, L.P. (NYSE American: CQP) announced that each company has been approved for uplisting to the New York Stock Exchange (NYSE) from the NYSE American. “Cheniere has been listed on the NYSE American or its predecessors for over […]
EAI’s NRGBriefs: January 2024
(Energy Analytics Institute, 31.Jan.2024) — Energy briefs as well as others related to finance and projects during Jan. 2024 including Washington reviewing its sanctions policy on Venezuela; QatarEnergy confirming that Qatar’s LNG production continues uninterrupted; Evercore ISI continuing on Biden’s moves to pause on LNG export terminal approvals; an S&P […]
Core Laboratories Reports 4Q:23 Results
(Core Laboratories, 31.Jan.2024) — Core Laboratories Inc. (NYSE: “CLB”) reported fourth quarter 2023 revenue of $128,200,000. Core’s operating income was $14,600,000, with diluted earnings per share (“EPS”) of $0.14, all in accordance with U.S. generally accepted accounting principles (GAAP). Operating income, ex-items, a non-GAAP financial measure, was $15,000,000, yielding operating […]
![Hess Reports 4Q:23 Results, Updates on Payara [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2023/04/guyana-fpso-prosperity-arrival-to-stabroek-source-sbm-1b.jpg)
Hess Reports 4Q:23 Results, Updates on Payara [PDF Download]
(Hess, 31.Jan.2024) — Hess Corporation (NYSE: HES) reported net income of $413mn, or $1.34 per share, in the fourth quarter of 2023, compared with net income of $497mn, or $1.61 per share, in the fourth quarter of 2022. On an adjusted basis, the corporation reported net income of $501mn, or […]
SLB Reaffirms 2024 Financial Guidance
(SLB, 30.Jan.2024) — SLB (NYSE: SLB) is reaffirming its full-year 2024 financial guidance. “We acknowledge the decision by Saudi Aramco to maintain its Maximum Sustainable Capacity (MSC) at 12 million barrels per day (MMBD), and not to continue increasing MSC to 13 MMBD,” said SLB Chief Executive Officer Olivier Le […]
Texas Hydrocarbon Industry at a Glance
(Editors at Energy Analytics Institute, 30.Jan.2024) — Texas is a major crude oil and natural gas producing state. Such that in calendar year 2023 its oil production represented 43% of the total US oil production, while its gas production represented 28% of the total US gas production, according to data […]
US Warns Maduro of Sanctions Snap Back
(Energy Analytics Institute, 30.Jan.2024) — US State Department spokesperson Matthew Miller said there’s still time for the Nicolás Maduro regime in Venezuela to change course but said that if they didn’t that Washington was prepared “to allow General License #44 expire and “our sanctions will snap back into place.” “There […]
Port of Corpus Christi Names Cindy Bertolami CFO
(Port of Corpus Christi, 30.Jan.2024) — The Port of Corpus Christi has appointed Cindy Bertolami as its new Chief Financial Officer (CFO). Bertolami succeeds Kent Britton, who was appointed Chief Executive Officer in Sep. Previously, Bertolami served four years as Director of Finance for the Port of Corpus Christi. She […]
Biden’s Gas Export Review has Uncertain Consequences
(The Hill, 30.Jan.2024) — President Biden’s pause on gas export projects may not have significant impacts by itself, energy analysts say. But the changes he’s making to underlying gas project reviews could have implications for global gas supply and climate change, depending on whether gas projects face higher risks of being rejected. The Biden […]
![US Refiner Marathon Petroleum Reports 4Q:23 Results [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2024/01/8166za_0143_1365px-source-mpc.jpg)
US Refiner Marathon Petroleum Reports 4Q:23 Results [PDF Download]
(MPC, 30.Jan.2024) — Marathon Petroleum Corp. (NYSE: MPC) reported net income attributable to MPC of $1.5bn, or $3.84 per diluted share, for the fourth quarter of 2023. This compares to net income attributable to MPC of $3.3bn, or $7.09 per diluted share, for the fourth quarter of 2022. Adjusted net income […]
New Fortress Receives Customs Ruling for Its FLNG Facility
(New Fortress, 29.Jan.2024) — New Fortress Energy Inc. (NASDAQ: NFE) (announced that U.S. Customs and Border Protection has issued a ruling confirming that the transportation of LNG produced at the company’s FLNG facility located offshore Altamira, Mexico by non-U.S. qualified vessels would not violate the Jones Act. As a result of this ruling, NFE is now […]