USA Archives - Page 26 of 59 - Energy Analytics Institute (EAI)

Apache Corp Expands Award-Winning Tree Grant Programme to Scotland

(APA Corporation, 1.Nov.2023) — Apache Corporation, a subsidiary of APA Corporation (Nasdaq: APA), today announced the launch of the Apache Tree Grant Programme in Scotland for the 2023-2024 planting season. Initially launched in the United States, the Apache Tree Grant Programme is an award-winning initiative focused on large-scale conservation, protection […]

APA Corp. Reports 3Q:23 Financial, Operational Results [PDF Download]

(APA Corporation, 1.Nov.2023) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the third quarter of 2023. APA reported net income attributable to common stock of $459mn, or $1.49 per diluted share. When adjusted for items that impact the comparability of results, APA’s third-quarter earnings were $410mn, […]

Bristow Reports 3Q:23 Results

(Bristow, 1.Nov.2023) — Bristow Group Inc. (NYSE: VTOL) reported net income attributable to the company of $4.3mn, or $0.15 per diluted share, for its quarter ended 30 Sep. 2023 on operating revenues of $330.3mn compared to net loss attributable to the company of $1.6mn, or $0.06 per diluted share, for the quarter ended 30 Jun. 2023 on operating revenues […]

1PointFive and TD Announce Direct Air Capture Carbon Removal Credit

(1PointFive, 31.Oct.2023) — 1PointFive, a carbon capture, utilization and sequestration company, and TD Bank Group, announced a purchase of carbon dioxide removal (CDR) credits from STRATOS – 1PointFive’s first Direct Air Capture (DAC) plant currently under construction in Texas. Under the terms of the agreement, and subject to STRATOS becoming […]

Marathon’s SVP Heppner Says Company Not Interested in Citgo Assets

(Energy Analytics Institute, 31.Oct.2023) — Marathon Petroleum Corporation’s senior vice president of strategy and business development, Dave Heppner, responded to questions from analysts during the company’s third quarter 2023 conference call about rumors it was interested in Houston-based refiner Citgo Petroleum. Heppner said that in the current environment that refining […]

Noble Corp. Reports 3Q:23 Results [PDF Download]

(Noble, 31.Oct.2023) — Noble Corporation plc (NYSE: NE, CSE: NOBLE) reported third quarter 2023 results. Highlights: Increasing quarterly dividend to $0.40 per share in the fourth quarter. Net Income of $158mn, Diluted Earnings Per Share of $1.09, Adjusted EBITDA of $283 million, cash provided by operating activities of $139mn, and Free […]

Denbury Shareholders Approve Merger with Exxon Mobil

(Reuters, 31.Oct.2023) — (DEN.N) said on Tuesday its shareholders approved the company’s merger with Exxon Mobil (XOM.N), with the deal closing expected on Nov. 2. Exxon Mobil in July agreed to buy the Plano, Texas-based Denbury for $4.9 billion to accelerate its energy transition business with an established carbon dioxide (CO2) sequestration […]

Venezuelan Oil Sanctions Relief at Risk as Court Suspends Opposition Primary Results

(S&P Global, 30.Oct.2023) — The Supreme Court of Justice (TSJ) in Venezuela ordered the suspension of the results of the opposition’s primary elections which was claimed to be won by María Corina Machado, and proclaimed as presidential candidate of the opposition, a decision that could put the relief of US […]

Tetra Reports 3Q:23 Results, Updates on Lithium Brine Unit

(TETRA, 30.Oct.2023) — TETRA Technologies, Inc. (NYSE:TTI) today announced third quarter 2023 financial results. Brady Murphy, TETRA President and Chief Executive Officer, stated, “In addition to another strong financial performance, in the third quarter we achieved an important milestone in our Company’s history with unanimous approval by the Arkansas Oil & […]

Azure Sustainable Fuels Solidifies Strategic Partnership with Savage

(Azure, 30.Oct.2023) — Azure Sustainable Fuels Corp. has formed a strategic partnership with global supply chain company, Savage, and its agribusiness, Bartlett. Together with the previously announced government financial awards, this partnership further accelerates Azure’s plans of producing sustainable aviation fuel (SAF) by 2027. Savage and Bartlett bring significant expertise […]

ExxonMobil Announces 3Q:23 Results [PDF Downloads]

(ExxonMobil, 27.Oct.2023) — Exxon Mobil Corporation announced third-quarter 2023 earnings of $9.1bn, or $2.25 per share assuming dilution. Cash flow from operations was $16bn, up $6.6bn versus the second quarter. In line with plans, capital and exploration expenditures were $6bn in the third quarter, bringing year-to-date 2023 expenditures to $18.6bn. […]

Chevron Reveals 3Q:23 Results, Comments on Hess Deal [PDF Downloads]

(Chevron, 27.Oct.2023) — Chevron Corporation (NYSE: CVX) reported earnings of $6.5bn ($3.48 per share – diluted) for third quarter 2023, compared with $11.2bn ($5.78 per share – diluted) in third quarter 2022. Included in the current quarter were a one-time tax benefit of $560mn in Nigeria and pension settlement costs […]

bp Boosts EV Charging Network with $100mn Order from Tesla

(bp, 26.Oct.2023) — Today bp (NYSE: bp) announced a deal in which bp pulse, bp’s EV charging business, will acquire ultra-fast charging hardware units from Tesla (NASDAQ: TSLA) for $100mn. The investment will facilitate the expansion of the bp pulse public network across the US, while also enabling support for […]

Big Oil: Upstream M&A Gets Serious

(WoodMac, 26.Oct.2023) — ExxonMobil’s and Chevron’s belief in the durability of upstream could hardly be better demonstrated by the game-changing acquisitions of two flagship US Independents. It’s a pivotal moment for the sector and widens the strategic gulf with the Euro Majors. Here are our team’s thoughts. First, what drove […]

Marathon Declares 3Q:23 Dividend

(Marathon, 25.Oct.2023) — Marathon Oil Corporation‘s (NYSE: MRO) board of directors has declared a dividend of 11 cents per share on Marathon common stock. The dividend is payable on 11 Dec. 2023, to stockholders of record on 15 Nov. 2023. “This is the eighth increase to our base dividend in the last eleven […]

Hess Reports 3Q:23 Operational Highlights [PDF Download]

(Hess, 25.Oct.2023) — Hess Corporation (NYSE: HES) reported net income of $504mn, or $1.64 per share, in the third quarter of 2023, compared with net income of $515mn, or $1.67 per share, in the third quarter of 2022. On an adjusted basis, the corporation reported net income of $583mn, or […]

Baker Hughes Reports 3Q:23 Results [PDF Downloads]

(Baker Hughes, 25.Oct.2023) — Baker Hughes Company (Nasdaq: BKR) announced results today for the third quarter of 2023. Highlights: Orders of $8.5bn for the quarter, up 40% year-over-year. Revenue of $6.6bn for the quarter, up 24% year-over-year. Net income attributable to Baker Hughes company of $518mn for the quarter, up $534mn year-over-year. Adjusted net income attributable to Baker Hughes (a non-GAAP measure) of $427mn for the quarter, […]

TotalEnergies Awarded 25-year Renewable Deal in New York

(TotalEnergies, 25.Oct.2023) — TotalEnergies and its partners, Corio Generation and Rise Light & Power announce that New York State selected their Attentive Energy One project for a 25-year contract to supply 1.4 GW of renewable electricity. Attentive Energy One, a joint venture between TotalEnergies (40%), Rise (35%) and Corio (25%), received the […]

Nabors Reports 3Q:23 Results

(Nabors, 25.Oct.2023) — Nabors Industries Ltd. (NYSE: NBR) reported third quarter 2023 operating revenues of $734mn, compared to operating revenues of $767mn in the second quarter. The net loss attributable to Nabors shareholders for the quarter was $49mn, compared to net income of $5mn in the second quarter. This equates to a loss of $6.26 per diluted share, compared […]

Venture Global Closes $4bn Senior Secured Notes Offering

(Venture Global LNG, 24.Oct.2023) — Venture Global LNG, Inc. closed its offering of $4bn aggregate principal amount of senior secured notes which have been issued in two series: (i) a series of 9.500% senior secured notes due 2029 in an aggregate principal amount of $2.5bn (the “2029 Notes”) and (ii) a series of 9.875% […]

Range Announces 3Q:23 Results [PDF Download]

(Range Resources, 24.Oct.2023) — Range Resources Corporation (NYSE: RRC) announced its third quarter 2023 financial results. ____________________

FMC Updates to 3Q:23 and YE:23 Outlook

(FMC, 23.Oct.2023) — FMC Corporation (NYSE:FMC) provided an update on third quarter expectations compared to its previously provided outlook. Revenue in the third quarter is now expected to be $982mn with adjusted EBITDA of $175mn and adjusted earnings per share of $0.44. The revised outlook is mainly driven by substantially lower sales volumes in Latin America, […]

Nucor Corp. Reports 3Q:23 Results

(Nucor, 23.Oct.2023) — Nucor Corporation (NYSE: NUE) announced consolidated net earnings attributable to Nucor stockholders of $1.14bn, or $4.57 per diluted share, for the third quarter of 2023. By comparison, Nucor reported consolidated net earnings attributable to Nucor stockholders of $1.46bn, or $5.81 per diluted share, for the second quarter of 2023 and $1.69bn, or $6.50 per diluted share, for […]

Venezuelan Oil-Sanctions Relief Was Just Announced. It Could Be Tested Soon

(Barron’s, 23.Oct.2023) — The U.S. administration’s new oil sanctions relief toward Venezuela is broad-ranging and impactful. It’s unlikely to have any immediate effect on international oil prices, but it will likely realign the regional oil trade, which will benefit the U.S. refining system. It will also test whether a different foreign policy—and […]

Welligence says Hess Corporation gives Chevron Atlantic margin exposure

PANAMA CITY, PANAMA (Energy Analytics Institute, 23.Oct.2023, Words: 203) — US-based Chevron Corporation will acquire Hess Corporation for $60bn (including net debt), the second giant transaction of Oct. 2023 following the $65bn move by ExxonMobil to acquire Pioneer Natural Resources Company, both in all-stock transactions, Welligence Energy Analytics wrote 23 […]

Chevron to Acquire Hess in $53bn All-Stock Deal

(Chevron, 23.Oct.2023) — Chevron Corporation (NYSE: CVX) has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53bn, or $171 per share based on Chevron’s closing price on 20 October 2023. Under the terms […]

Nucor Exploring Potential Sites in the Pacific Northwest to Build New Rebar Micro Mill

(Nucor, 20.Oct.2023) — Nucor Corporation (NYSE: NUE) is exploring potential sites in the Pacific Northwest to build a new rebar micro mill with an annual capacity of 650,000 tons, subject to approval by Nucor’s Board of Directors. The new mill would produce a full range of rebar sizes and have spooling […]

SLB Reports Strong 3Q:23 Results [PDF Downloads]

(SLB, 20.Oct.2023) — SLB (NYSE: SLB) announced results for the third-quarter 2023 and SLB CEO Olivier Le Peuch commented: “Our third-quarter results continue to reflect strong year-to-date performance with revenue and adjusted EBITDA growth of 19% and 28%, respectively. These results, which reinforce our full-year financial ambitions, were driven by sustained growth […]

Trinidad Approved to Pay PDVSA

(Welligence, 19.Oct.2023) — Trinidad & Tobago (T&T) has received approval from the US government to pay PDVSA, the Venezuelan NOC, in cash for gas from Venezuela. The decision comes after a series of negotiations between all three countries, and is a vital step towards bringing Train 1 at Atlantic LNG (ALNG) back online, […]

CSI Compressco Reveals Quarterly Distribution, Schedules 3Q:23 Earnings Call

(CSI Compressco, 19.Oct.2023) — CSI Compressco LP (NASDAQ: CCLP) announced that the board of directors of its general partner has declared a cash distribution attributable to the quarter ended 30 September 2023 of $0.01 per outstanding common unit, or $0.04 per outstanding common unit on an annualized basis. This cash distribution will be paid on 14 […]

Biden Eases Sanctions on Venezuelan Oil, Republicans Howl

(Politico, 18.Oct.2023) — The Biden administration said Wednesday it will ease sanctions against companies that trade in oil produced in Venezuelan or invest in the South American country’s oil industry in response to its new agreement to allow free elections next year. The move reverses years of U.S. policy aimed […]

Venezuela’s Oil Sanctions Relief May Lift Profits, No Fast Output Rebound

(Reuters, 18.Oct.2023) — A broad easing of U.S. oil sanctions on Venezuela will not quickly expand its output but could boost profits by returning some foreign companies to its oilfields and providing its crude to a wider set of cash-paying customers, experts said. The South American OPEC producer received broad waivers from […]

FAQ: Suspension of Certain US Sanctions on Venezuela [PDF Downloads]

(US Department of State, 18.Oct.2023) — On October 18, 2023, the United States welcomed the announcement of a political agreement between representatives of Maduro and the Unitary Platform, as part of the longstanding policy to support the peaceful restoration of democracy, competitive elections, and respect for the rights and freedoms […]

Venezuela to Divert Barrels from China if US Continues Easing Sanctions

(Reuters, 18.Oct.2023) — Exemptions to sanctions on Venezuelan oil exports that the U.S. is mulling should not result in a large crude production surge in the OPEC country, instead taking barrels away from its current main destination China, experts said. The administration of U.S. President Joe Biden plans to provide some […]

SOAR Energy Launches SolarScan, an AI-Powered Home Energy Assessment Tool

(SOAR Energy, 18.Oct.2023) — SOAR Energy, a growing solar company powered by Better Earth, today announced the launch of SolarScan, its artificial intelligence (AI) and machine learning (ML) powered home energy assessment tool for homeowners and solar contractors to analyze properties and receive a curated report on potential savings and power […]

Venezuelan Oil Output Could Jolt if Reported Sanctions Deal Transpires: Rystad

(Rystad, 17.Oct.2023) — A reported deal between the US and Venezuela to ease sanctions on the South American country’s oil industry could pave the way for a medium-term increase in production of 200,000 barrels per day (bpd). The deal, reported by US media on Monday, would see the US ease […]

US State Department: Joint Statement on Venezuela Negotiations

(US Department of State, 17.Oct.2023) — The following statement was released by Secretary of State Antony J. Blinken, the EU High Representative for Foreign Affairs and Security Policy Josep Borrell Fontelles, the Canadian Minister of Foreign Affairs the Honourable Mélanie Joly, and the United Kingdom Secretary of State for Foreign, […]

US Grants License Amendment to Trinidad for Joint Natgas Project with Venezuela

(Reuters, 17.Oct.2023) — The United States has granted an amendment requested by the government of Trinidad and Tobago to a license allowing the joint development of an offshore gas project with Venezuela, the Caribbean country’s Energy Minister Stuart Young said on Tuesday. The amendment would allow payments to Venezuela for any gas supplied […]

Trinidad on Amendment to OFAC License [Video]

(TT MEEI, 17.Oct.2023) — The Honourable Stuart R. Young, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister announced that The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury, issued an amendment to the license granted to the […]

Venezuelans Return to Negotiations

(US Treasury, 16.Oct.2023) — The United States welcomes the announcement by Nicolas Maduro representatives and the Unitary Platform to resume Venezuelan-led negotiations in Barbados. Along with likeminded partners and other friends of Venezuela, the United States will continue its efforts to unite the international community in support of the Venezuelan-led […]

River Metals Recycling Announces Acquisition

(Nucor, 16.Oct.2023) — Nucor Corporation (NYSE: NUE) announced an acquisition today on behalf of its recycling subsidiary River Metals Recycling (RMR). RMR has acquired all Cincinnati-based Garden Street Iron & Metal assets, including one feeder and one shredder yard, bringing RMR’s total number of recycling facilities to 19. This is consistent with […]

Venezuela, Opposition Will Restart Talks, US Could Ease Sanctions

(Reuters, 16.Oct.2023) — Venezuela’s government and the country’s opposition will return to political negotiations, the two sides said on Monday, while sources said the United States has reached a preliminary deal to ease sanctions if President Nicolas Maduro follows through on a commitments related to a 2024 election. Maduro’s representatives […]

Oil Dips Below $90 a Barrel as US Agrees Venezuela Deal

(Reuters, 16.Oct.2023) — Oil futures fell on Monday on reports that the U.S. had agreed a deal to ease sanctions on Venezuela, while investors continued to mull the potential impact of the escalating Israel-Hamas conflict on oil prices. Brent futures were down $1.08, or 1.19%, at $89.81 a barrel at […]

US to Ease Sanctions on Venezuelan Oil for Freer Presidential Election

(The Washington Post, 16.Oct.2023) — The Biden administration and the government of Venezuelan President Nicolás Maduro have agreed to a deal in which the U.S. would ease sanctions on Venezuela’s oil industry and the authoritarian state would allow a competitive, internationally monitored presidential election next year, according to two people […]

Ellipsis US Onshore Buys Additional Delaware Basin Assets

(Ellipsis, 16.Oct.2023) — Ellipsis U.S. Onshore Holdings LLC, a portfolio company of Westlawn Group LLC, announced the acquisition of additional assets located in the Delaware Basin of Texas and New Mexico. Ellipsis acquired non-operated oil and gas properties consisting of 3,000 net acres, current production of more than 3,000 boe/d (2-stream) and significant operational upside […]

Biden-⁠Harris Administration Announces Regional Clean Hydrogen Hubs

(The White House, 13.Oct.2023) — Today, President Biden and Energy Secretary Jennifer Granholm are announcing seven regional clean hydrogen hubs that were selected to receive $7bn in Bipartisan Infrastructure Law funding to accelerate the domestic market for low-cost, clean hydrogen. Advancing clean hydrogen is essential to achieving the President’s vision […]

ExxonMobil Purchase of Pioneer Creates World’s First Megamajor

(WoodMac, 12.Oct.2023) — Addressing ExxonMobil’s purchase of Pioneer Natural Resources, Tom Ellacott, senior vice president of Corporate Research for Wood Mackenzie said, “We predicted several years ago that Big Oil would get bigger, highlighting ExxonMobil as a likely aggregator in US tight oil. Yesterday, the company announced the acquisition of […]

ExxonMobil Announces $59.5bn Merger with Pioneer in an All-Stock Deal

(ExxonMobil, 11.Oct.2023) — ExxonMobil Corporation (NYSE: XOM) and Pioneer Natural Resources (NYSE: PXD) jointly announced a definitive agreement for ExxonMobil to acquire Pioneer. The merger is an all-stock transaction valued at $59.5bn, or $253 per share, based on ExxonMobil’s closing price on 5 Oct. 2023. Under the terms of the agreement, […]

Tania Ortiz Appointed to BODs of US-Japan Business Council

(Sempra, 10.Oct.2023) — Sempra Infrastructure, a subsidiary of Sempra, announced that its president, Tania Ortiz Mena, has been appointed to the Board of Directors for the US Chamber of Commerce‘s US-Japan Business Council (USJBC). She will also be the U.S. co-chair of the Energy and Infrastructure Working Group. “Given Japan’s heavy dependence on imported energy, the US-Japan Business Council has shown […]

Head of Exxon’s Shale Business Faces Sexual Assault Charge in Texas

(Reuters, 8.Oct.2023) — The head of Exxon Mobil‘s shale oil and gas business, a unit involved in merger talks with rival Pioneer Natural Resources, was arrested at a Texas hotel last week on a sexual assault charge, police said. David Scott, an Exxon senior vice president who oversees all its shale oil and gas […]