Guyana – Page 2 – Oil & Gas 360

$53 billion Chevron-Hess deal may stall into 2025 over ExxonMobil’s claim to prolific assets offshore Guyana

June 24, 2024

World Oil Publisher’s Note: Chevron will be a presenter at the upcoming EnerCom Denver – The Energy Investment Conference on August 18-21, 2024. Register to attend. (WO) – The arbitration process to determine whether ExxonMobil can block the $53 billion sale of Hess Corp to Chevron is stalled due to the incomplete appointment of a third arbitrator, according to

ExxonMobil to deploy Sercel Marlin vessel monitoring and alert system offshore Guyana

June 14, 2024

World Oil (WO) – Viridien, formerly CGG, announced that its Sensing & Monitoring business line, marketed under the Sercel brand, has made a sale of its innovative Marlin vessel monitoring and alert system to ExxonMobil Guyana Ltd. to support its offshore operations in Guyana. As part of the wider Sercel Marlin software suite for optimizing offshore operations, the Marlin vessel

Oil giants Exxon, Chevron lean on big-ticket deals to build bigger reserves

May 31, 2024

Yahoo Finance Cash-rich Exxon Mobil and Chevron are bolstering their oil and gas drilling inventory with multi-billion-dollar takeovers as they bet on resilient demand for years to come. The consolidation wave sweeping through the U.S. energy sector that spurred deals worth $250 billion in 2023 shows no signs of slowing as companies rush to deploy their cash hoard from higher

Guyana’s economy surges on offshore success in prolific Stabroek block, EIA reports

May 22, 2024

World Oil (WO) – According to the U.S. Energy Information Administration’s latest report, Guyana has significantly boosted its crude oil production since it began in 2019, reaching 645,000 bpd by early 2024, all from its prolific offshore region, the Stabroek block. From 2020 to 2023, Guyana’s crude oil production grew by an average of 98,000 bpd annually, making it the

ExxonMobil CEO sees Chevron arbitration over Hess purchase, assets offshore Guyana going into 2025

May 6, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. Chief Executive Officer Darren Woods foresees arbitration with Chevron Corp. over a premier asset offshore Guyana stretching into 2025 due to the importance of the case to both companies. The companies still need to appoint a third arbitrator before they go into the discovery phase, Woods said during an interview on CNBC on

Chevron to resolve ExxonMobil arbitration over Guyana discovery soon following $53 billion Hess acquisition, CEO predicts

April 30, 2024

World Oil (Bloomberg) – Chevron Corp. expects a resolution to a dispute with Exxon Mobil Corp. over a Guyana oil contract in coming months that would allow for the completion of the $53 billion acquisition of Hess Corp. this year. Exxon began arbitration proceedings in March, arguing it has a right of first refusal over Hess’s 30% stake in the

ExxonMobil, Chevron to increase Guyana, Permian oil production amidst $100 billion M&A spending

April 29, 2024

World Oil (Bloomberg) – If you want to understand why the two largest U.S. oil companies are together spending in excess of $100 billion on acquisitions right now, look no further than the amount of crude they’re extracting from the two hottest oil fields on the planet. Exxon Mobil Corp. and Chevron Corp., which reported earnings Friday, are both predicting

Namibia’s oil potential could match Guyana following significant offshore discoveries, TotalEnergies CEO reports

April 26, 2024

World Oil (Bloomberg) – Namibia’s oil potential could one day match Guyana, where big discoveries have sparked an economic transformation and set the world’s biggest companies jostling for position. There’s a “big chunk of oil” in waters off Namibia, said Patrick Pouyanne, chief executive officer of TotalEnergies SE, which alongside several other companies has made significant discoveries in the African

Chevron exceeds Q2 expectations on strong oil production amidst ExxonMobil, Hess arbitration over Guyana

April 26, 2024

World Oil Publisher’s Note: Chevron Corp will present at EnerCom Denver- The Energy Investment Conference on August 18-21, 2024. Register to attend. (Bloomberg) – Chevron Corp. surpassed expectations for a second straight quarter as strong oil-production growth from recent acquisitions helped the company take advantage of crude prices above $80 a bbl. Adjusted first-quarter profit of $2.93 a share was

Exxon misses on Q1 profit despite big gains in Guyana

April 26, 2024

Yahoo Finance HOUSTON-Exxon Mobil Corp on Friday missed analysts’ estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. Latest results from oil and gas companies including Chevron and TotalEnergies reflect a sharp downturn in natural gas prices after a warmer than usual Northern Hemisphere winter cut demand

Hess Corporation increases oil and gas production on backs success in U.S. Bakken, offshore Guyana

April 25, 2024

World Oil Hess’ E&P net income was $997 million in Q1 2024, compared with $405 million in Q1 2023. Net production was 476,000 boed in Q1 2024, compared with 374,000 boed in the Q1 2023, primarily due to higher production in Guyana and the Bakken. In the second quarter of 2024, E&P net production is expected to be in the

Guyana gas-to-power project to shave weeks off oil output, hit revenue

April 8, 2024

Yahoo Finance GEORGETOWN – Guyana’s efforts to use its natural gas resources to fuel a power plant that would slash the South American nation’s energy costs have snagged on construction delays and threaten to curtail the rising oil hotspot’s revenue this year by about $1 billion. The $1.9 billion gas-to-power project, Guyana’s biggest effort to capitalize on its energy bounty,

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