Oil Price As oil prices soar and investors wait for signs that oil company stocks will start to catch up, French TotalEnergies has announced plans to boost production and shareholder distributions, lifting its stock price by almost a percentage point in morning trading. TotalEnergies said it planned to return some 44% of its operations cash flow to shareholders in 2023,
BOE Report Calgary, Alberta – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”, the “Company” or “we”) today announced that it has entered into a definitive agreement (the “Agreement”) to acquire Ranger Oil Corporation (NASDAQ: ROCC) (“Ranger”), a pure play Eagle Ford company (the “Acquisition”). The total consideration to be paid by Baytex, including assumption of net debt, is approximately US$2.5 billion
Oil Price Several days ago, President Biden made a media splash when he threatened oil companies with windfall taxes and “other restrictions” if they don’t stop returning cash to shareholders and start investing this cash in more oil production. The industry, via the American Petroleum Institute, responded with yet another reiteration of the fact that the oil market is
Oil Price BP (NYSE: BP) announced a further $2.5 billion share buyback after more than doubling its Q3 profit from a year earlier, thanks to what it described as an “exceptional” gas marketing and trading result and higher gas realizations. BP joined other international oil and gas majors in reporting very strong earnings after it reported on Tuesday an underlying replacement cost
US News The two largest U.S. oil companies, Exxon Mobil Corp and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier. The U.S. pair, along with UK-based Shell and France’s TotalEnergies, combined to earn nearly $51 billion in the most recent quarter, almost
Yahoo Finance LONDON -BP reported its strongest operational performance in more than a decade on Tuesday on the back of rocketing oil prices that helped it step up share buybacks, even as a $24 billion writedown from exiting Russia led to a record quarterly loss. Shares in the energy firm climbed 2.8% by 1311 GMT in London trading after BP
Finance Yahoo LONDON – Shell again boosted its dividend and share repurchases on Thursday after fourth quarter profits hit their highest in eight years, fuelled by higher oil and gas prices and strong gas trading performance. The strong results cap a dramatic recovery in 2021 for Shell and the oil and gas sector after energy demand and prices collapsed in
World Oil (Bloomberg) –U.S. shale executives have finally achieved something that eluded the industry for more than a decade: the ability to turn over billions of dollars in dividends to shareholders while at the same time boosting production to tap into surging global oil demand. The question now is just how much the shale explorers will reinvest in fresh drilling.
World Oil HOUSTON (Bloomberg) –Exxon Mobil Corp. and Chevron Corp. are plowing windfall profits into share buybacks as soaring energy prices boost their cash flow. Exxon will revive repurchases for the first time since 2016. The company said Friday it plans to spend as much as $10 billion on repurchases starting next year. Chevron is considering an expansion of its
CNBC Chevron Chairman and CEO Mike Wirth told CNBC on Wednesday the oil company’s lower-carbon investments focus on areas such as renewable natural gas and hydrogen because it sees significant potential to create shareholder value. “One of the things we’ve chosen not to go into is wind and solar,” Wirth said in a “Mad Money” interview. “These are technologies that are relatively mature.
ConocoPhillips (NYSE: COP) today reported first-quarter 2021 earnings of $1.0 billion, …
CNBC LONDON — British energy major BP on Tuesday reported better-than-expected earnings for the first quarter, following a period of stronger commodity prices and a brighter demand outlook. It comes as oil and gas majors seek to prove to investors that they have gained a more stable footing amid the ongoing coronavirus crisis. BP’s first-quarter underlying replacement cost profit, used as a proxy
