February 22, 2024 – Oil & Gas 360

API: Biden’s tailpipe emissions ban “out of step” with American people

February 22, 2024

World Oil (WO) — The American Petroleum Institute (API) issued a statement from President and CEO Mike Sommers in response to reports that the Biden administration is considering changing the implementation timeline for its proposed tailpipe emissions standards: “Reports that the EPA is moving forward with a de facto ban on new gasoline-powered cars shows the Biden administration is significantly

Ethanol’s Last Stand: U.S. ethanol producers are on the cusp of calamity, but hopes are growing for policy-driven longevity

February 22, 2024

Oil and Gas 360 Ethanol’s Last Stand U.S. ethanol producers are on the cusp of calamity, but hopes are growing for policy-driven longevity. Summary: Ethanol Producers’ Last Stand: Declining gasoline demand forecasts present a catastrophic risk to an industry born out of the EPA’s renewable fuel standards, which mandate ethanol blending in fuels. The industry’s lobbying could pay off, however,

Chesapeake Energy to reduce Haynesville, Marcellus rig count following Southwestern natural gas megadeal

February 22, 2024

World Oil (WO) – Chesapeake Energy announced that it is lowering prior capital expenditure guidance approximately 20% to $1.25 – $1.35 billion through rig count reductions and deferring completions and turn-in-lines in its 2024 outlook report. Chesapeake is currently operating nine rigs (five in the Haynesville and four in the Marcellus) and four frac crews (two in each basin). Given

Chord Energy and Enerplus to combine in $11 billion transaction creating premier Williston-focused E&P Ccompany with top-tier shareholder returns

February 22, 2024

Oil and Gas 360 Enhanced Operating Scale to Drive Returns and Free Cash Flow; Combined Acreage Position Totaling 1.3 Million Net Acres and Combined 4Q23 Production of 287,000 Boepd Combined Company has Approximately 10 years of Low-Breakeven Inventory with Significant Opportunity to Enhance Returns through Efficiencies and Expanding Three-Mile Lateral Opportunities Transaction Accretive to Key Metrics While Preserving Low Leverage; Strong

SM Energy reports 2023 results and 2024 operating plan

February 22, 2024

Oil and Gas 360 DENVER, Feb. 21, 2024 /PRNewswire/ — SM Energy Company (the “Company”) (NYSE: SM) today announced certain fourth quarter and full year 2023 operating and financial results, year-end 2023 estimated net proved reserves and its 2024 operating plan. Highlights include: Excellent financial results and operational performance: Net income for the full year 2023 was $817.9 million, or $6.86 per diluted

Range announces fourth quarter 2023 results and 2024 guidance

February 22, 2024

Oil and Gas 360 Feb 21, 2024 at 4:15 PM EST FORT WORTH, Texas, Feb. 21, 2024 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its fourth quarter 2023 financial results and plans for 2024. Full-Year 2023 Highlights – Cash flow from operating activities of $978 million Cash flow from operations, before working capital changes, of $1.1 billion Reduced net debt by $292 million, paid $77 million in

Weekly Gas Storage: Inventories increase by 68 Bcf- oil and gas 360

Weekly Gas Storage: Inventories decrease by 60 Bcf

February 22, 2024

Natural Gas Inventories as of February 16, 2024 The EIA has released its natural gas inventory report, showing a net decrease of 60 Bcf as of February 16, 2024. Working gas in storage was 2,470 Bcf as of Friday, February 16, 2024, according to EIA estimates. This represents a net decrease of 60 Bcf from the previous week. Stocks were

XOM vs. ET – Which Energy Stock Is a Stronger Buy?

February 22, 2024

2024-02-22 06:03:47 ET Amid escalating conflicts in the Middle East, booming demand, and …

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