USA Archives - Page 23 of 59 - Energy Analytics Institute (EAI)

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]

(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]

(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]

(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]

(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]

(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]

(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 […]

OFAC on Wind Down of Transaction of CVG [PDF Download]

(Energy Analytics Institute, 29.Jan.2024) — The US Department of the Treasury‘s Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 43A on 29 Jan. 2024, which relates to “Authorizing the Wind Down of Transactions Involving CVG Compania General de Mineria de Venezuela CA.” ____________________ By Ian Silverman. © Energy […]

Petroleum sanctions in Venezuela [PDF download]

CARACAS, VENEZUELA (Energy Analytics Institute, 28.Jan.2024) — If the US experiences the return of Donald Trump as president, or if in Venezuela Maria Corina Machado’s handpicked successor wins, or both, no one is sure what will happen. So international oil companies (IOCs) will likely sit tight and not invest but […]

Biden-Harris List Top Climate Accomplishments

(Energy Analytics Institute, 28.Jan.2024) — US President Joe Biden said 28 Jan 2024 on X, formerly Twitter, that “climate action offers an opportunity for the nation to come together and do some really big things.” Some of the top climate accomplishments to date of the Biden-Kamla Harris term follow, according […]

Venezuela Court Disqualifies Leading Opposition Candidate

(Al Jazeera, 27.Jan.2024) — Venezuela’s Supreme Justice Tribunal has upheld a ban which prevents presidential candidate Maria Corina Machado from holding office, upending the opposition’s plans for elections planned for later this year. Machado, a former lawmaker, won the opposition’s independently run presidential primary last October with more than 90 […]

Leaders on Biden-⁠Harris Pause on Pending Decisions of LNG Exports

(The White House, 27.Jan.2024) — This week, the Biden-Harris Administration announced a temporary pause on pending decisions for exports of Liquefied Natural Gas (LNG). During this period, the Department of Energy will evaluate the impacts of LNG exports on energy costs, America’s energy security, and climate change – the existential threat of […]

Petrobras Proved Reserves Reach 10.9 Billion Boe in 2023

(Petrobras, 26.Jan.2024) — Petrobras discloses its proved reserves of oil, condensate, and natural gas, according to SEC (US Securities and Exchange Commission) regulation, estimated at 10.9 billion barrels of oil equivalent (boe), as of 31 Dec. 2023. Oil and condensate, and natural gas correspond to 84% and 16% of this […]

Democratic Leaders Response to Biden’s US LNG Export Decision

(The Natural Allies Leadership Council, 26.Jan.2024) — The Natural Allies Leadership Council, including former Senator Mary Landrieu (D-LA), former Congressman Tim Ryan (D-OH), former Congressman Kendrick Meek (D-FL) and former Philadelphia Mayor Michael Nutter, issued the following statement regarding the Biden Administration’s decision to delay the approval of new U.S. […]

DOE Halting LNG Export Projects

(DOE, 26.Jan.2024) — The United States Department of Energy (DOE) today provided notice that it will initiate a process to update the assessments used to inform whether additional liquefied natural gas (LNG) export authorization requests to non-Free Trade Agreement countries are in the public interest. The United States is the […]

Norfolk Reports 4Q:23 and FY: 23 Results

(Norfolk, 26.Jan.2024) — Norfolk Southern Corporation (NYSE: NSC) announced its fourth quarter and full-year 2023 financial results. For the quarter, income from railway operations was $808mn and diluted earnings per share were $2.32. These fourth quarter results include a $150mn charge associated with the incident in Eastern Ohio inclusive of […]

RPC Reports 4Q:23, FY:23 Financial Results

(RPC, 25.Jan.2024) — RPC, Inc. (NYSE: RES) announced its unaudited results for the fourth quarter and full year ended 31 Dec. 2023. * Non-GAAP and adjusted measures, including adjusted operating income, adjusted net income, adjusted earnings per share (diluted), EBITDA and adjusted EBITDA, adjusted EBITDA margin, and free cash flow […]

Talos Announces Pricing of Two Upsized Offerings

(Talos, 25.Jan.2024) — Talos Energy Inc. (NYSE: TALO) announced that its wholly owned subsidiary Talos Production Inc. priced an upsized offering of $625mn in aggregate principal amount of new 9.000% Second-Priority Senior Secured Notes due 2029 and $625mn in aggregate principal amount of new 9.375% Second-Priority Senior Secured Notes due […]

Biden-Harris Earmark $254mn to Decarbonization

(DOE, 25.Jan.2024) — In support of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) announced $171mn for 49 projects across 21 states to reduce industrial greenhouse gas (GHG) emissions and accelerate the development of innovative decarbonization technologies. DOE also announced that applications are open for an $83mn […]

Earnings Look Forward, Highlighting Deltas: Evercore ISI

(Evercore ISI, 24.Jan.2024) — It became clear a number of weeks ago that this was not the quarter for all the gory detail on current quarter prints or outlooks particularly for most E&Ps. There is little reason to believe earnings season will stop being the key volatility event of the […]

Origis Energy Secures $317mn in Project Tax Equity with J.P. Morgan

(Origis Energy, 24.Jan.2024) — Origis Energy, one of America’s leading renewable energy and decarbonization solution platforms, today announced it has secured $317mn in project tax equity funding from J.P. Morgan for two utility-scale solar and solar plus battery storage projects located in New Mexico and Mississippi respectively. Escalante Solar is […]

SLB Joins LOT Network to Safeguard Innovation from Patent Litigation

(SLB, 24.Jan.2024) — SLB has joined other technology leaders such as Tesla, Microsoft, and Cisco to become part of the world’s largest patent licensing platform, the License on Transfer (LOT) Network. LOT is an international, non-profit community of more than 3,300 leading global companies across all sectors that are committed […]

Bristow Enters Into New Equipment Financing for up to £55mn

(Bristow Group, 24.Jan.2024) — Bristow Group Inc. (NYSE: VTOL) and its subsidiaries entered into a new twelve-year secured equipment financing for an aggregate amount up to £55mn with a syndicate of banks led by National Westminster Bank Plc (NatWest). The proceeds from the financing will be used to support Bristow’s […]

TD Cowen Downgrades Chevron Stock

(Energy Analytics Institute, 24.Jan.2024) — TD Cowen downgraded Chevron Corporation’s stock to Market Perform based on its view that Permian and TCO could continue to weigh on the stock due to execution concerns. TD Cowen listed the following key points related to the downgrade: — Analysts note that CVX has […]

Recording-Setting Transactions in 4Q:23 Worth for Upstream M&A

(Enverus, 23.Jan.2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, is releasing its summary of Q4 and full-year 2023 upstream merger and acquisition (M&A) activity. Q4 recorded a massive $144bn in upstream M&A, the largest quarter EIR has tracked. That pushed full-year 2023 value to more than $190bn, also […]

Venezuela: Arrests and Detentions of Opposition, Civil Society

(US State Department, 23.Jan.2024) — The United States is deeply concerned by the issuance of arrest orders and detentions against at least 33 Venezuelans, including members of the democratic opposition, civil society, former members of the military, and journalists. Arrests without due process run contrary to the spirit of the […]