Dividends – Oil & Gas 360

Baytex to acquire Eagle Ford operator Ranger Oil, accelerates shareholder returns and introduces a dividend with enhanced free cash flow

February 28, 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

Cash-flush shale operators consider raising oil output along with dividends

January 28, 2022

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.

Chevron CEO explains why the oil giant’s lower-carbon investments look past wind and solar energy

September 16, 2021

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.

What should oil companies do with their cash?

August 18, 2020

Forbes After the oil industry’s worst quarter in history, companies are taking a variety of approaches towards their finances, and getting a variety of advice and criticism from the pundits and media. Saudi Aramco’s decision to maintain its dividend has been called in question, as the Wall Street Journal’s Rochelle Toplensky notes that dividend discipline might not be enough to make

Saudi Aramco to use cash and debt to uphold dividends pledge amid reports of job cuts

June 18, 2020

CNBC Saudi Aramco maintained its pledge to make good on its dividend payments, saying Thursday that it would mobilize cash and debt to fulfill the $18.75 billion payouts for the first quarter of this year despite taking a hit from the coronavirus pandemic and lower oil prices. “It will be a combination of both,” Aramco CEO Amin Nasser told press during

Big Oil investors to look past earnings pain and focus on dividends

April 24, 2020

Reuters LONDON/HOUSTON – Investors already braced for poor first-quarter earnings from major oil and gas companies next week will focus on how executives plan to save cash and whether they will cut dividends following the collapse in oil prices. The five biggest U.S. and European firms, known as the Oil Majors, have announced spending cuts averaging 23% in a rapid

Berkshire Hathaway to accept Occidental shares instead of cash dividends

April 15, 2020

Reuters Occidental Petroleum said on Wednesday billionaire Warren Buffett’s Berkshire Hathaway Inc had agreed to accept common shares of the oil producer instead of cash dividends for preferred stock. Berkshire last year bought $10 billion worth of Occidental’s preferred shares to help finance its acquisition of Anadarko Petroleum. Berkshire plans to sell the common shares, Occidental said in a regulatory

Evolution Petroleum: Industry-Leading Positive Free Cash Flow

June 23, 2017

Evolution Petroleum Corp. (ticker: EPM) has built its foundation asset in the Delhi field in NE Louisiana. Delhi is a unique, producing asset that delivers positive free cash flow—consistently. The field is currently under CO2-EOR development. The company’s reserves report indicates that Evolution has approximately 10.8 MMBOE in total proved reserves as of June 30th, 2016. The Delhi field production

Which E&Ps are Paying Dividends?

March 31, 2016

Many energy companies have elected to reduce or suspend dividends over the course of 2015, but not everyone. On March 29, 2016, SM Energy (ticker: SM; SM-Energy.com) announced that the board of directors had approved a semi-annual cash dividend of $0.05 per common share of stock outstanding. This equates to a $0.10 yearly dividend, and a dividend yield of 0.53%

Which Are the Top 10 MLPs?

May 1, 2015

Scrutinizing the Top Performing MLPs for Current Yield, Dividend Growth and Total Return Investment in MLPs gives investors a means of acquiring a substantial yield from their investment in a realm of trading that is largely targeted to the retail investor and not the institutional investor. Master Limited Partnerships focus on the benefits of tax structure while still possessing the

Valero Aims to Sustain CapEx, Dividend Growth in 2015

January 13, 2015

Despite the tumbling price of oil, Valero looks to sustain expenditures and continue to grow dividends Valero (ticker: VLO), the world’s largest independent refiner, released a presentation last week setting the company’s many objectives for 2015. In the face of the challenging market, Valero has implemented goals to maintain capital expenditures and grow dividends next year. In the company’s presentation,

Upstream MLPs Getting the Worst of Commodity Downturn

December 18, 2014

Down more than 50% Year to Date Oil and gas companies are tightening the purse strings for 2015, as several news releases on guidance are showing capex declines of 20% or more. Commodity hedges may protect most companies from further capital deterioration for the time being, but repercussions from the oil price collapse will be truly felt once the hedge

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