(Oil & Gas 360) – CALGARY, Alberta, Oct. 03, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (PEI: TSX-V; OF6A: FRA) (“Prospera” or the “Corporation“) Prospera Energy Inc. (PEI) is pleased to announce the prompt full repayment of its $3,430,000 high-interest 16%, Gross Overriding Royalty (GORR) financing. The GORR re-purchase takes advantage of the early payment discount and eliminates the risk of
Nasdaq West Africa-focused Tullow Oil TLW.L said on Wednesday it was on track to deliver about $600 million free cash flow over the next two years to achieve its stated target of $800 million from 2023 to 2025, sending its shares about 8% higher. The London-listed oil and gas explorer said the start-up of Jubilee South East offshore Ghana drove production and
CNBC Exxon Mobil on Wednesday outlined a corporate spending plan that it said will double earnings and cash flow by 2027 from 2019′s levels, while also reducing emissions. The plan comes as the oil giant reevaluates its long-term strategy following the pandemic, and after a shake-up in its boardroom. The company said it plans to spend between $20 billion and $25 billion
Houston Chronicle Losses continue to mount for Houston oil field service company National Oilwell Varco, which posted a nearly quarter billion dollar loss during the third quarter. In a statement released after close of market on Monday, NOV reported a $244 million loss on $2.1 billion of revenue during the third quarter. The figures were down from the $1 million
From Bloomberg Hildebrand gained fortune buying old, conventional oil assets, bet may be timely as investors begin to sour on shale Texas oilman Jeffery Hildebrand became a billionaire by shunning the shale revolution taking place in his home state. Now, he’s making his biggest bet yet — Alaska — just as shale producers run out of steam. Hildebrand’s Hilcorp Energy
By Tyler Losier, Energy Reporter, Oil & Gas 360 Comstock Resources appoints Johnson & Rice alum Ronald Mills as its new VP of finance and investor relations Comstock Resources Inc. (stock ticker: CRK), an independent E&P based out of Frisco, Texas, has appointed Ronald Mills as its vice president of finance and investor relations. Mills joins the company in the
By Tyler Losier, Energy Reporter, Oil & Gas 360 Magellan Midstream prices $500 million of its 3.950% senior notes due 2050 Magellan Midstream Partners LP (stock ticker: MMP), based out of Tulsa, Oklahoma, has priced $500 million of its 3.950% senior notes due 2050 at 99.910% of par to yield 3.955% to maturity. Proceeds from the offering, after deducting underwriting
From Reuters Brazil’s Petroleo Brasileiro SA sold its entire oil hedge position amid a sharp fall in crude prices, the company said in a filing on Wednesday night, saying it has eliminated uncertainties regarding its cash flow thanks in part to divestments. Petrobras, as the state-run company is known, said in March it was spending $320 million on put options,
By Tyler Losier, Energy Reporter, Oil & Gas 360 Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture (JV) with Colombia-based Ecopetrol S.A. (stock ticker: EC) to develop 97,000 net acres of Occidental’s Midland Basin properties, subject to
From Reuters A strong rise in oil and gas production helped BP (BP.L) offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares. BP’s second quarter contrasts with Total (TOTF.PA) and Norway’s Equinor (EQNR.OL), which posted sharp earnings drops, and builds on a steady recovery after deep cost cuts since the 2014 downturn,
Encana Corporation (ticker: ECA) opened 2018 with Q1 net earnings of $151 million. This compares to Q1 2017’s net earnings of $431 million. Cash generated from operating activities reached $381 million, which compares to $106 million in Q1 2017. Encana’s first quarter production totaled 324,400 BOEPD, of which the company’s core assets contributed 307,500 BOEPD. Total liquids production grew by
Latin American E&P operator GeoPark Limited (ticker: GPRK) released a production update today, noting that current production is currently at 35 MBOEPD. This figure includes production from the recent Argentina acquisition. Oil production increased by 33% to 27,345 BOPD (up 8% compared to Q4 2017) Colombian oil production increased by 37% to 26,303 BOPD (up 8% compared to Q4 2017)
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