Capital Markets – Page 5

Oil markets fail to respond to geopolitical escalations

October 22, 2024

(Oil Price) – Ten days ago, the Biden administration expanded sanctions on Iran’s petroleum and petrochemical sectors in response to Iran’s October 1 attack on Israel, its second direct attack on Israel this year. According to the White House, Iran’s oil exports are enabled by a network of illicit shipping facilitators in multiple jurisdictions which, through obfuscation and deception, load and transport Iranian

Oilfield services giant SLB reports strong Q3 results

October 18, 2024

(Oil Price) – The world’s biggest oilfield services provider, SLB (NYSE: SLB), expects to exceed its commitment of returns to shareholders this year as its third-quarter profit beat estimates and cash flow generation remained strong despite softened short-cycle activity. SLB reported on Friday earnings per share (EPS), excluding charges and credits, of $0.89 for the third quarter, up by 5% sequentially and 14%

This is about as bearish as oil has been since the 2008 financial crisis

October 17, 2024

(Oil Price) – Oil prices are little changed in Wednesday’s intraday sessions after they tumbled more than 4% on Tuesday to a near two-week low on easing Iranian supply disruption fears. According to a report by the Washington Post, Israeli Prime Minister Netanyahu told the Biden administration that Israel is willing to strike Iran’s military infrastructure rather than oil or nuclear facilities,

Oman’s oil exploration firm raises $2 billion in record domestic IPO

October 17, 2024

(Oil Price) – OQ Exploration and Production Company (OQEP), Oman’s wholly-state-owned upstream oil and gas operator, has raised $2.03 billion from its IPO which was the largest ever for the Gulf oil nation and the biggest in the region so far this year. OQEP, which is a wholly owned subsidiary of OQ, the Sultanate of Oman’s energy company, sold 2 billion

CNX stock hits decade high as options surge on Marcellus, Utica gas outlook

October 14, 2024

(World Oil) – At least one investor is making a big bet that CNX Resources Corp. will keep climbing even as the natural gas producer’s stock reached a 10-year high this week. Options trading in CNX surged as one or more investors bought over 34,000 call options on Thursday and Friday. The derivatives give holders the right to buy more

Exxon gets rare sell rating on oversupply concerns

October 9, 2024

(Oil Price) – Exxon Mobil Corp. (NYSE:XOM) was up slightly in Thursday’s trading session after analysts at BNP Paribas Exane downgraded its shares to Underperform from Neutral with a $105 price target, good for 14% downside from the current price. The downgrade marks the first Sell equivalent rating XOM has received in more than a year, with analysts predicting a further decline in crude

Geopolitical risk premium in oil market slips slightly, Goldman Sachs says

October 9, 2024

(BOE Report) – Geopolitical risk premium gauges in the oil market have decreased slightly this week, following sharp increases last week in both Brent implied volatility and call options implied volatility skew, Goldman Sachs said. Oil prices steadied in Asian trading as traders weighed developments in the Middle East conflict against continued bearish expectations for demand. Brent crude futures last traded

Bank of England warns Middle East conflict could lead to a major oil price shock

October 3, 2024

(Oil Price) – If it goes out of hand, the escalating conflict in the Middle East risks dealing a severe blow to monetary policy as it would lead to a surge in oil prices, Bank of England Governor Andrew Bailey told the Guardian in an interview published on Thursday. “Geopolitical concerns are very serious,” Bailey told the newspaper. International crude oil prices have

HSBC cuts oil price forecasts for 2024 and 2025

October 1, 2024

(BOE Report) – HSBC has lowered its annual oil price forecasts for this year and next, citing a possible increase in OPEC+ oil production later this year that would push the market into surplus in 2025. “Judging by the fall in oil prices, the market had expected another extension – indeed we thought the unwinding would be more likely to

Chesapeake Energy and Southwestern Energy complete merger and provide third quarter earnings conference call Information, company rebranded as Expand Energy

October 1, 2024

(Oil & Gas 360) – OKLAHOMA CITY, Oct. 01, 2024 (GLOBE NEWSWIRE) — Chesapeake Energy Corporation (NASDAQ: CHK) and Southwestern Energy Company (NYSE: SWN) today closed on their previously announced combination. The combined company has been rebranded as Expand Energy Corporation. Expand Energy’s common stock will commence public trading on the NASDAQ under the ticker “EXE” at the open of

FTC bars Hess CEO from joining Chevron board following $53 billion deal on OPEC collusion accusations

September 30, 2024

(World Oil) – U.S. regulators will allow Chevron to move forward with its $53 billion acquisition of Hess but are barring Chief Executive Officer John Hess from joining the supermajor’s board, saying he improperly communicated with OPEC. The U.S. Federal Trade Commission said in a statement Monday that Hess communicated with members of the group and its allies, encouraging them

BKV Corporation announces pricing of Initial Public Offering

September 26, 2024

(Oil & Gas 360) DENVER, September 25, 2024 – BKV Corporation (“BKV”) today announced the pricing of its initial public offering of 15,000,000 shares of its common stock at $18.00 per share. The underwriters will have a 30-day option to purchase an additional 2,250,000 shares from BKV at the initial public offering price, less underwriting discounts and commissions. The shares will begin

Premium Content