World Oil (Bloomberg) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment. The U.S. and European countries are planning liquefied natural gas terminals that will be in service for decades.
Capitalize, PLS Inc.’s proprietary comprehensive capital markets tracking platform, released a statistical review of the oil and gas industry’s capital markets activity for calendar year 2017. Key findings: $34 billion in equity raised through offerings in 2017, down 36% from 2016’s $53 billion Of 2017’s eight upstream equity offerings, six were SPACs Big names such as Hess, Antero and BP
250-275 gross wells expected to be on production in the Permian Basin in 2018 $2.6 billion 2018 Permian-focused CapEx Pioneer Natural Resources (ticker: PXD) placed 64 horizontal wells on production in the fourth quarter of 2017. In the Permian, 43 wells were in the northern area and 21 wells were in the southern Wolfcamp joint venture area. For the full
Chevron Corporation (ticker: CVX) reported earnings of $3.1 billion for Q4 2017. For reference, in Q4 2016 the company made $415 million. Q4 2017 earnings include non-cash tax benefits of $2.02 billion, related to the U.S. tax reform and a non-cash charge of $190 million related to a former mining asset. The company said that foreign currency effects decreased earnings
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