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December 1, 2023

Brazil to join OPEC+ but won't cap oil output, Petrobras CEO says- oil and gas 360- oil and gas 360

Brazil to join OPEC+ but won’t cap oil output, Petrobras CEO says

December 1, 2023

Nasdaq RIO DE JANEIRO – Brazil is expected to join the OPEC+ group of oil-producing countries in January but would not take part in the group’s coordinated output caps, the chief executive of state-run oil firm Petrobras PETR4.SA told Reuters. The group’s surprising announcement on Thursday that the South American nation would join it raised immediate questions on whether Brazil would take part

Oil revenues send Alberta’s budget surplus soaring- oil and gas 360- oil and gas 360

Oil revenues send Alberta’s budget surplus soaring

December 1, 2023

Oil Price Revenues from the oil industry have pushed Alberta’s projected budget surplus for this year to twice as high as initially expected, at $4.1 billion, or C$5.5 billion. In addition to revenue from oil royalties, the budget surplus for fiscal 2023/24 was pushed up by higher personal and corporate taxes.   “Alberta’s economy is resilient, and our finances are on track,” Finance

SilverBow Resources announces closing of Chesapeake acquisition and provides updated 2023 guidance & preliminary 2024 outlook- oil and gas 360

SilverBow Resources announces closing of Chesapeake acquisition and provides updated 2023 guidance & preliminary 2024 outlook

December 1, 2023

Oil and Gas 360 11/30/2023 – Completed transformational acquisition of Chesapeake’s remaining South Texas assets Preliminary 2024 outlook of 551-611 MMcfe/d; liquids to comprise ~40% of production mix Anticipated 2024 capex of $550-$580 million supports 3-rig drilling program The Company now holds over 220,000 net acres with 1,000 drilling locations identified Capital structure provides for ~$500 million of liquidity by

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count had an increase of 3 this week, at 625

December 1, 2023

Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 3 over last week, resulting in a total count of 625 rigs. Canada had a decrease  of  5 over last week, resulting in a total Canadian count of 192 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Barnett, the

Colombia's Ecopetrol to invest up to $6.7 bln in 2024- oil and gas 360

Colombia’s Ecopetrol to invest up to $6.7 bln in 2024

December 1, 2023

Nasdaq BOGOTA – Colombia’s state-run oil company Ecopetrol ECO.CN will invest between $5.7 billion and $6.7 billion and produce up to 730,000 barrels per day equivalent (boepd) in 2024, it said in a statement. A majority of that spending, about $4.8 billion, will go toward keeping production between 725,000 and 730,000 boepd, the company’s refineries at between 420,000 and 430,000 barrels

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