BOE Report

Chevron to Hold Virtual Stockholders Meeting

SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) will hold a virtual annual stockholders’ meeting in place of an in-person event due to safety concerns related to the COVID-19 pandemic. The meeting will take place Wednesday, May 27, 2020 at 8:00 a.m. Pacific Daylight Time, as announced in Chevron’s proxy materials that were previously distributed. Stockholders owning Chevron common stock at the close of business on March 30, 2020, or their legal proxy holders, are entitled [Read more]

Imperial announces change to virtual annual meeting of shareholders

CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited announced today that it has changed the format of its upcoming annual meeting of shareholders being held on Friday, May 1, 2020 at 10:30 a.m. (MDT) (the “meeting”) to a virtual only meeting. Shareholders may attend and participate in the meeting online via live audio webcast, but will not be able to attend the meeting in person. The move to a virtual only meeting format is in response to the risks associated with the COVID-19 pandemic, [Read more]

ExxonMobil reduces 2020 capex by 30%, cash opex by 15%; maintains long-term outlook

IRVING, Texas - ExxonMobil said today it is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent in response to low commodity prices resulting from oversupply and demand weakness from the COVID-19 pandemic. Capital investments for 2020 are now expected to be about $23 billion, down from the previously announced $33 billion. The 15 percent decrease in cash operating expenses is driven by deliberate actions to increase efficiencies and reduce [Read more]

Imperial provides corporate update, reduces spending by $1 billion

CALGARY, Alberta--(BUSINESS WIRE)--Imperial today provided an update on its operations and corporate guidance in response to the market conditions resulting from the COVID-19 pandemic and decreases in commodity prices. “The current COVID-19 pandemic, as well as business and commodity price environment, poses many challenges for our industry,” said Brad Corson, chairman, president and chief executive officer of Imperial. “Imperial’s integrated business model, high quality asset portfolio, and [Read more]

Chevron Announces Actions in Response to Market Conditions

Reduces 2020 capital spending plan by $4 billion, or 20% Permian production guidance reduced by 20% Suspends share repurchases Actions protect the dividend, prioritize long-term value, and support industry leading balance sheet SAN RAMON, Calif. - Chevron Corporation today announced several steps it is taking in response to market conditions. “With an industry leading balance sheet and a flexible capital program, we believe Chevron is resilient and positioned to withstand this [Read more]

Seven Generations Energy Reduces 2020 Capital Investment Plan in Response to Challenging Global Energy Prices

Revised fully funded budget proactively maintains the company’s balance sheet strength and corporate resilience at current futures pricing CALGARY, Alberta--(BUSINESS WIRE)--In response to the significant decline in global energy prices, Seven Generations has reduced its previously announced 2020 capital investment budget by 18%, or $200 million, to $900 million. Effective immediately, the company will meaningfully reduce its activity levels to align investments to expected cash [Read more]

Seven Generations Reports $353 Million of Funds Flow and $233 Million of Capital Investments in the Fourth Quarter Of 2019

CALGARY, Alberta - Seven Generations Energy Ltd. (TSX: VII): FOURTH QUARTER 2019 HIGHLIGHTS Net income per diluted share was $0.24 in the fourth quarter, and $1.36 for the full year, an increase of 12% over 2018 on a full year basis. Fourth quarter and full year 2019 funds flow was $353 million and $1.39 billion, respectively, with capital investments of $233 million for the fourth quarter and $1.23 billion for the full year. Free cash flow was $120 million in the fourth quarter and [Read more]

Baker Hughes Announces January 2020 Rig Counts

0 Comments

HOUSTON & LONDON - Baker Hughes (NYSE: BKR) announced today that the Baker Hughes international rig count for January 2020 was 1,078, down 26 from the 1,104 counted in December 2019, and up 54 from the 1,024 counted in January 2019. The international offshore rig count for January 2020 was 245, down 12 from the 257 counted in December 2019, and up 3 from the 242 counted in January 2019. The average U.S. rig count for January 2020 was 791, down 13 from the 804 counted in December 2019, and [Read more]

Ambyint Secures $15 Million to Expand AI-Powered Production Optimization

HOUSTON--(BUSINESS WIRE)--Ambyint, the leader in AI-powered production and artificial lift optimization, today announced a $15 million Series B funding round led by Cottonwood Venture Partners with additional investment from Mercury Fund and Ambyint’s management team. Building on its successful adoption among oil and gas producers, Ambyint will extend its suite of optimization solutions across all wells and artificial lift systems and grow its Houston and Calgary offices.“Improving margin on [Read more]

ConocoPhillips Reports Fourth-Quarter and Full-Year 2019 Results; Announces Preliminary 2019 Year-End Reserves, Quarterly Dividend and Increase in Existing Share Repurchase Authorization to $25 Billion

HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today reported fourth-quarter 2019 earnings of $0.7 billion, or $0.65 per share, compared with fourth-quarter 2018 earnings of $1.9 billion, or $1.61 per share. Excluding special items, fourth-quarter 2019 adjusted earnings were $0.8 billion, or $0.76 per share, compared with fourth-quarter 2018 adjusted earnings of $1.3 billion, or $1.13 per share. Special items for the current quarter included primarily a non-cash impairment related to a [Read more]