Exploration & Production

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Exxon Expects FTC to Approve Pioneer Deal by Mid-Year, CFO Says

Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Tri-Pinned, US News / By

FTC recently sued to block Tapestry’s high-end handbag deal Lawmakers called for more scrutiny of oil deals in March Exxon Mobil Corp. expects US antitrust regulators to approve its $60 billion acquisition of Pioneer Natural Resources Co. by the end of June despite increased government scrutiny of corporate mergers. “We continue to expect the deal is going to …

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Chevron Posts Q1 Profit Beat With Oil Production Gains

Energy Topics & Technology, Exploration & Production, Latest, US News / By

(Reuters) – Oil giant Chevron Corp  beat estimates for first-quarter profit on Friday as higher production volumes in the U.S. helped offset a hit from weak natural gas prices and fuel margins. The second largest U.S. oil producer posted a profit of $5.5 billion in the quarter ended on March 31, down from $6.57 billion, or …

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Phillips 66 Misses First-Quarter Profit Estimates on Weaker Margins

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(Reuters) – Phillips 66  missed quarterly profit estimates due to a decline in refining margins led by underperformance at its Gulf Coast operations, sending the refiner’s shares down 5.5% in premarket trading on Friday. Refiner margins have scaled back from the peaks achieved after Russia’s invasion of Ukraine in 2022, amid a rise in global refining …

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Exxon Misses on Q1 Profit Despite Big Gains in Guyana

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, US News / By

HOUSTON, April 26 (Reuters) – 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. The largest U.S. oil company, which is in the process of closing a $60 billion deal for top shale oil producer …

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EQT Cuts Sales Guidance, Plans to Curtail Production Through May

Energy Topics & Technology, Exploration & Production, Latest / By

EQT Corp., the largest US producer of natural gas, is now taking output cuts through May as prices hover near four-year lows because of weak demand. The company also reduced its sales guidance for 2024. The move underscores that this year’s low natural gas prices aren’t sustainable for the industry. US gas futures have touched …

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Enphase Energy Reports Financial Results for the First Quarter of 2024

Energy Topics & Technology, Exploration & Production, Latest, Press Releases / By

FREMONT, Calif., April 23, 2024 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today financial results for the first quarter of 2024, which included the summary below from its President and CEO, Badri Kothandaraman. We reported quarterly revenue of $263.3 million …

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Range Announces First Quarter 2024 Results

Energy Topics & Technology, Exploration & Production, Latest, Press Releases / By

FORT WORTH, Texas, April 23, 2024 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its first quarter 2024 financial results. First Quarter 2024 Highlights – Cash flow from operating activities of $332 million Cash flow from operations, before working capital changes, of $308 million Capital spending was $170 million, approximately 26% of the 2024 budget Pre-hedge …

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New Technology Helps U.S. Shale Oil Industry Start to Rebuild Well Productivity

Conventional Energy, Exploration & Production, Latest, Oil, US News / By

HOUSTON, April 24 (Reuters) – Technology advances are making it possible for U.S. shale oil and gas companies to reverse years of productivity declines, but the related requirement to frontload costs by drilling many more wells is deterring some companies from doing so. While overall output is at record levels, the amount of oil recovered …

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BP Reshapes Its Leadership Team as Some Executives Leave

CDN and International News, Energy Topics & Technology, Exploration & Production, Latest / By

New CEO Auchincloss seeks to simplify BP’s corporate structure Retiring gas and power chief Dotzenrath is replace by Lin BP Plc restructured its top management as the departure of some executives allowed new Chief Executive Officer Murray Auchincloss to put his mark on the oil and gas giant. The executive leadership team will be reduced to 10 members …

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Abu Dhabi’s TAQA Confirms Naturgy Shareholder Talks as it Eyes Full Takeover

CDN and International News, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions / By

(Reuters) – Abu Dhabi’s TAQA  is in discussions with the three largest shareholders of Spanish energy firm Naturgy, it said on Wednesday, with a view to a possible full takeover bid for the company. Criteria, the main shareholder in lender Caixabank owns a 26.7% stake in Naturgy, which has a current overall market value of 22 billion …

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