(Reuters) - Chevron Corp (CVX.N) on Friday posted a record $36.5 billion profit for 2022 that was more than double year-earlier earnings, but the bottom line fell shy of Wall Street estimates, undercut by asset writedowns and rising costs. The second largest U.S. oil producer's adjusted net profit for 2022 exceeded its previous record set in 2011 by about... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras discloses its proved reserves of oil, condensate and natural gas, according to SEC (US Securities and Exchange Commission) regulation, estimated at 10.5 billion barrels of oil equivalent (boe), as of December 31, 2022. Oil and condensate, and natural gas correspond to 85% and 15% of this total, respectively. In 2022,... Continue Reading →
TechnipFMC said on Tuesday that the Brazilian oil company Petrobras had awarded it a large master services agreement for subsea services. For TechnipFMC, a “substantial” contract is between $250 million and $500 million. The three-year contract has an option to extend for two years. TechnipFMC will provide life-of-field services to support its installed base offshore... Continue Reading →
Karoon announced an increase in its proven reserves (1P) in block BM-S-40 – which encompasses the producing Baúna and Piracaba fields and the Patola field, which is under development. The block, located in the Santos Basin, has 42.8 million barrels in 1P reserves, according to an assessment reviewed and certified by AGR Energy Services (dated... Continue Reading →
(Reuters) U.S. oil and gas producer Hess Corp on Tuesday forecast higher Exploration & Production (E&P) capital and exploratory budget of $3.7 billion for 2023, of which more than 80% would be allocated to Guyana and North Dakota's Bakken shale field. The company forecast 2022 E&P capital and exploratory expenditures of about $2.7 billion. The... Continue Reading →
Over the past three years, the majority of U.S. energy companies have avoided spending big to expand production in the aftermath of the 2020 oil crisis, prioritizing returning more cash to shareholders in the form of dividends and share buybacks. Most oil and gas companies have only announced small increases in their capital spending for... Continue Reading →
A CGX Energy Inc. and Frontera Energy Corporation consortium has started drilling the Wei-1 well, on the Corentyne block, approximately 200 kilometers offshore from Georgetown, Guyana. To remind, under the Corentyne block license terms, the joint venture was previously required to spud Wei-1, the second of two commitment wells on the block, by November 27,... Continue Reading →
Enauta released this week an update on the reserves of the Atlanta and Manati fields, based on December 31, 2022. According to the company, its 2P reserves (proven and probable) reached 168 million barrels of oil equivalent by the end of 2022 – an increase of 50.3 million barrels of oil equivalent compared to December... Continue Reading →
(epbr) Galp buys a cargo of 500,000 barrels of Union oil, originating from the production sharing contract for the Atapu field, in the pre-salt layer. Pre-Sal Petróleo S.A. (PPSA) reported that the sale should generate revenues of BRL 210 million for the National Treasury when the shipment is available in two months. The Portuguese oil... Continue Reading →
(epbr) Perenco announced this Wednesday the departure of the FSO Pargo platform from a shipyard in Dubai, in the United Arab Emirates, heading to the Pargo field, in shallow waters in the Campos Basin. The unit is part of the concession's production recovery project, which foresees investments of US$ 400 million and promises to increase... Continue Reading →
