Saturday, December 21, 2024

Chevron Starts Up $35 Billion Wheatstone Project: More Australian LNG Hits the Market

Wheatstone will produce 8.9 MTPA While U.S. LNG projects are proceeding at a fever pace, they are not the only major LNG players achieving progress. Chevron announced it has started producing LNG from its Wheatstone project, with first cargo expected to be shipped in the next few weeks. The $35 billion project is located in western Australia, producing LNG from

Lilis Adds Permian Acreage: What a Deal

Acquires 4,000 net Delaware basin acres from private seller at rock-bottom prices Despite a recent leveling off of drilling activity in the U.S., money continues to pour into the Permian basin. Last week Lilis Energy (ticker: LLEX) announced that it had acquired over 4,000 net acres from a private seller, adding to its Delaware basin holdings. The acreage acquired is

Cash is an Asset: But What the Heck Do You Do with It?

Expand drilling? Wipe away debt? Take shares out of the market? There have been nearly $60 billion in equity and debt offerings from the industry in 2017, and more than $105 billion in M&A deals. This means companies have received $160 billion in capital above and beyond the cash being generated by their operations. For all these reasons, oil and