sales – Oil & Gas 360

Total, Shell pile into Brazil’s offshore fields in $2 billion sale

December 17, 2021

Nasdaq RIO DE JANEIRO – TotalEnergies SE, Royal Dutch Shell (LON:RDSa), Petrobras, Petronas and Qatar Energy scooped up two blockbuster offshore fields in Brazil on Friday, raking in 11.14 billion reais ($1.96 billion) in signing bonuses for the government. TotalEnergies, Qatar Energy and Malaysia’s Petronas won the right to develop the coveted Sepia field, while Brazil’s state-run Petrobras, formally Petroleo

WPX Energy: Daily Production 76% Higher than Year Ago

May 3, 2018

WPX Energy, Inc. (ticker: WPX) reported a net loss of $119 million, or $(0.30) per common share for the first quarter of 2018. Production for the quarter reached 102.7 MBOEPD, a 6% sequential increase over Q4 2017 and 76% higher than Q1 2017. WPX had oil volumes of 65,800 BOPD. WPX completed 36 gross operated wells (34 net) in its

What’s Worth More to the State of Texas—Land or Oil?

SM Energy Divestment of $792 Million Non-Core Assets Will Drive 30% Debt Reduction

April 4, 2018

Out of the Williston Midland- and Eagle Ford-focused SM Energy Company (ticker: SM) sold its remaining assets in the Williston Basin and third-party operated assets in Upton County, Texas. The combined sale generated $292.3 million, but the buyers have not been disclosed. President and CEO Jay Ottoson said, “We are committed to our strategy to focus on development of our

Brazil’s 15th Offshore Bidding Round Sets a Record

April 2, 2018

Brazil’s 15th Bidding Round raised over USD$2.4 billion – this sets a new record for Brazil’s auctions. According to the Brazilian National Petroleum Agency, the 15th round will generate investments of USD$361.6 million in the first/exploration phase of the concession contracts alone. Brazil said that 22 offshore blocks were acquired out of the 47 offered. However, there were no offers

Blackbird Energy Updates Wells, Ups Credit Facility to $20 Million

March 13, 2018

Blackbird Energy Inc. (ticker: BBI) has released test results from its 3-27-71-7W6 Upper Montney delineation well. The well flowed at an average estimated sales rate of 1,188 BOEPD (53% liquids, liquids/gas ratio of 190 Bbls/MMcf) over the final 48-hours of a 12-day production test. The 3-27-71-7W6 Upper Montney delineation well was drilled to a total depth of 4,604-meters with a

The World's Coming Mega-Population Centers and the Energy They Will Need

100 Million Barrels of Strategic Oil Reserves to be Sold

February 26, 2018

Recent U.S. legislation has directed the sale of more than 100 million barrels of oil from the Strategic Petroleum Reserve (SPR) in government fiscal years 2022 through 2027. Based on legislated sales established in multiple acts of Congress, the SPR could decline by about 40% in the coming decade while still meeting requirements for petroleum import coverage, the EIA said.

Hi-Crush Sells 8.93 Million Tons of Frac Sand in 2017

February 20, 2018

Hi-Crush Partners LP (ticker: HCLP) reported its Q4 and full year 2017 results. Revenues for the fourth quarter of 2017 totaled $216.5 million on sales of 2,985,115 tons of frac sand. This compares to $167.6 million of revenues on sales of 2,456,195 tons of frac sand in the third quarter of 2017. “Hi-Crush’s performance in the fourth quarter is the

Egypt Buys $14 Billion of NatGas from Noble Energy, Delek

February 19, 2018

Noble Energy, Inc. (ticker: NBL) has signed agreements to sell significant quantities of natural gas from the Leviathan and Tamar fields to Dolphinus Holdings Limited to supply gas in Egypt. These agreements, one for natural gas from Leviathan and one for Tamar, each provide for total contract quantities of 1.15 trillion cubic feet of natural gas. The natural gas is

Marathon Oil Preps for $2.3 Billion CapEx in 2018, Forecasts ~400 MBOEPD Net Production

February 15, 2018

Marathon Oil Corporation (ticker: MRO) will have a $2.3 billion capital budget for 2018. The company said the budget is self-funding at $50 average WTI and will generate free cash flow at $60 average WTI. More than 90% will be directed to four U.S. resource plays. Almost 60% of the development budget will be allocated to the Eagle Ford and

Anadarko Petroleum Rakes in $976 Million in Q4

February 7, 2018

Anadarko Petroleum Corporation (ticker: APC) reported fourth quarter of 2017 net income attributable to common stockholders of $976 million, or $1.80 per share (diluted). Net cash provided by operating activities in the fourth quarter of 2017 was $1.4 billion. For the year ended December 31, 2017, Anadarko reported a net loss attributable to common stockholders of $456 million, or ($0.85)

Blackbird Energy Glides Into 2018

February 2, 2018

Blackbird Energy Inc. (ticker: BBI) has provided an update regarding its operations. Blackbird’s total corporate January sales production averaged an estimated 1,978 BOEPD (58% liquids) for the 17 days the company was able to produce during the month. Estimated sales production averaged 1,056 BOEPD on a calendar day basis through January, with volumes being impacted by approximately 14 days of

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