Russian producer Gazprom was the global leader in oil/gas production growth over the past five years, according to a note released Thursday by independent research company Rystad Energy. It was followed by Chinese state-owned PetroChina and the U.S.’s largest dry gas producer, EQT Corp., Kallanish Energy learns. Gazprom had growth of more than … Read more
Brazilian regulator National Agency of Petroleum, Natural Gas and Biofuels (Anp) said last week it expects revenue of $425 billion from the 16th Exploratory Blocks Bidding Round. The authority also expects $112 billion in investments, Kallanish Energy reports. The bidding round is scheduled for Oct. 10, offering 36 blocks in five offshore sedimentary … Read more
Energy Transfer LP has reported second quarter 2019 net income of $878 million, or 33 cents per share, Kallanish Energy reports, up $523 million, or 147.3%, compared to Q2 2018. The increase is due primarily to higher operating income and the impact of the simplification transaction involving Energy Transfer and Energy Transfer Operating in October 2018, … Read more
Montage Resources is the latest E&P company reducing full-year 2019 capital spending (Capex), Kallanish Energy reports. The company said it has reduced second half 2019 activity levels from two rigs to one rig, resulting in lowered capital spending of $30 million in the Appalachian Basin. The reason for the reduction is low commodity … Read more
Plains All American Pipeline Tuesday announced it’s formed a joint venture with Delek Logistics Partners in the existing Red River Pipeline system, with Delek paying $128 million for a 33% share in the line. Plains retained a 67% interest in the JV and will continue to operate the Red River crude oil system, Kallanish Energy … Read more
Halcon Resources reported a first quarter 2019 net loss of $336.6 million, or $2.12 per diluted share, as it develops new strategic and financial plans, Kallanish Energy reports. That compares to a Q1 2018 net loss of $2.6 million, or 2 cents a share. The Denver-based company said it generated total revenue of … Read more
Power failures that kept Venezuela in darkness for much of March also briefly slashed the country’s crude production by 50%, people familiar with the situation told Bloomberg. Rolling blackouts across much of the country that started on March 7 temporarily paralyzed most of the country’s oil industry, Kallanish Energy finds. Oil output … Read more
Royal Dutch Shell Plc this week said it was leaving a U.S. refining lobbying organization in 2020 because the oil supermajor disagrees with the firm’s climate policy, Kallanish Energy learns. The oil giant, in its first review of its association with 19 industry groups, said it found “material misalignment” over climate policy … Read more
The U.S. Bureau of Land Management raised $7.19 million on March 26 in a federal lease sale for oil and natural drilling in Utah, Kallanish Energy reports. A total of 111 parcels totaling 148,950 acres were offered, with 90 sold in the agency’s Canyon Country, Green River and West Desert districts. Those 90 parcels covered 135,123 acres. … Read more
Oil and gas production in the UK is set to grow over future decades, as a report published Monday by the British Oil and Gas Authority (Oga) shows higher projections than previously released offered, Kallanish Energy learns. Last year’s increase in both oil and gas production was 4%, or 1.7 million barrels of oil-equivalent per day … Read more
© 2018 Kallanish. All rights reserved.
