Samantha McCulloch: Good morning all. The oil and gas industry recognises the changes announced today to the Petroleum Resource Rent Tax (PRRT) aim to strike a balance between the current budget pressures and the undeniable need for a strong gas sector given the role of gas providing reliable energy for…
Category: Oil and Gas
Civil Nuclear Manufacturing Processes | SHALE Magazine
With the increasing demand for renewable energy sources, the traditional infrastructure that has supported our energy supply is experiencing a significant transformation. Despite this “energy transition”, top-notch manufacturing and engineering remain crucial. The oil and gas industry continues to excel in these areas. However, is there an untapped opportunity that…
Jim Cramer’s top 10 things to watch in the stock market Friday
My top 10 things to watch Friday, May 5 1. Club holding Apple (AAPL) delivered better-than-expected quarterly results Thursday, with its installed base of active devices expanding to more than 2 billion. Apple’s board authorized a program to repurchase up to $90 billion worth of stock, while raising its quarterly…
Natural Gas Forwards Sink Further as Market Sits Awash in Supply Ahead of Rising Cooling Demand – Natural Gas Intelligence
Natural gas forward markets continued to face fierce headwinds in early May, with prices selling off sharply through 2024, according to NGI’s Forward Look. Henry Hub paved the way as June forward prices fell 25.0 cents from April 27-May 3 to reach $2.172 and the balance of summer (June-October) slid…
WE HAVE NEVER BEEN MORE RELIANT ON THE FED Belly-Up to the Fed Bar Boys!
Folks, a lot of the small banks in the US are–for now anyway—technically insolvent. That sounds scary. And it could be. But only maybe. Because on the other hand the banks aren’t actually insolvent. Not in real life. Most of them, any ways. But The Street isn’t exactly sure which…
Malcy’s Blog: Oil price, Sound, Union Jack, Arrow, Gran Tierra. And finally…
WTI (June) $68.60 -$3.06, Brent (July) $72.33 -$2.99, Diff -$3.73 +7c. USNG (May) $2.17 -4c, UKNG (June)* 82.55p -2.34p, TTF (June) €36.5 -€0.22. * May Expiry. Oil price Another bad day for oil as the Fed increased rates by another 25 bp’s, making 500 in total with the tentative hint…
Murphy Oil Corporation announces first quarter 2023 financial and operating results, reaffirms 2023 production and capital expenditure guidance ranges | BOE Report
Exceeded Upper End of Guidance Range With Production of 172.5 MBOEPD, Announced Discovery at Longclaw #1 Exploration Well in Gulf of Mexico, Received Credit Rating Upgrade to BB+ from S&P Global HOUSTON–(BUSINESS WIRE)–Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the first quarter ended March…
The Rise and Demise of EITI in Iraq | Iraq Business News
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Rise and Demise of EITI in Iraq Enthusiasm and commitment to the international Extractive Industry Transparency Initiative (EITI) in Iraq gathered momentum and zeal from 2008…
Upstream M&A slides to $9B in 1Q23 | Enverus
CALGARY, Alberta (May 2, 2023) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, is releasing its summary of 1Q23 upstream merger and acquisition (M&A) activity. In Q1, U.S. upstream M&A saw $8.6 billion transacted in 16 deals, with more than $5 billion in…
Topaz announces first quarter 2023 results, achieves record royalty production and declares quarterly dividend – Energy News for the Canadian Oil & Gas Industry | EnergyNow.ca
First Quarter 2023 Highlights Generated Q1 2023 cash flow of $71.8 million ($0.50 per diluted share(2)) and free cash flow (FCF)(1) of $71.3 million ($0.49 per diluted share), generating a 91% FCF Margin(1) which was 2% higher than Q4 2022. Record royalty production of 18,884 boe/d(4) in Q1 2023 was 17% higher than Q1 2022, driven by a 50%…