BOE Report

Williams and Canada Pension Plan Investment Board to Form a US$3.8 Billion Strategic Joint Venture Partnership in the Marcellus/Utica Basins

Strategic partnership between Williams and CPPIB to support ongoing growth and Northeast region optimization Williams consolidates 100% interest in Utica East Ohio Midstream (“UEO”) and assumes operatorship Williams expects to receive approximately $1.34 billion in exchange for a 35% interest in a combined UEO-Ohio Valley Midstream (“OVM”) joint venture, providing Williams with a net of approximately $600 million, after transaction fees and paying for the UEO interest, allowing for debt [Read more]

Imperial ramps down Aspen oil sands project execution

CALGARY, Alberta--(BUSINESS WIRE)--Imperial said today it has slowed the pace of development of its Aspen in situ oil sands project given market uncertainty stemming from Alberta government intervention and other industry competitiveness challenges. Imperial’s view remains that free markets work and intervention sends a negative message to investors about doing business in Alberta and Canada. The company remains concerned about the unintended consequences of the government’s decision to [Read more]

International Arbitration Tribunal Orders Venezuela to Pay ConocoPhillips $8.7 Billion for Unlawful Expropriation of Company’s Oil Investments

HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) announced today that an international arbitration tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes (ICSID) has unanimously ordered the government of Venezuela to pay the company the amount of $8.7 billion in compensation for the government’s unlawful expropriation of ConocoPhillips’ investments in Venezuela in 2007, plus interest. The ICSID tribunal ruled in 2013 that the [Read more]

Baker Hughes, a GE company Announces February 2019 Rig Counts

HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for February 2019 was 1,027, up 3 from the 1,024 counted in January 2019, and up 48 from the 979 counted in February 2018. The international offshore rig count for February 2019 was 250, up 8 from the 242 counted in January 2019, and up 56 from the 194 counted in February 2018. The average U.S. rig count for February 2019 was 1,049, down 16 from the 1,065 [Read more]

Hess Announces Regular Quarterly Dividend on Common Stock

NEW YORK--(BUSINESS WIRE)--lt;a href="https://twitter.com/hashtag/dividend?src=hash" target="_blank"gt;#dividendlt;/agt;--The Board of Directors of Hess Corporation (NYSE: HES) today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on March 29, 2019 to holders of record at the close of business on March 18, 2019. Hess Corporation is a leading global independent energy company engaged in the [Read more]

Seven Generations delivers $1.67 billion of adjusted funds flow, or $4.60 per share, up 36 percent in 2018

Proved plus probable reserves valued at $12.3 billion by independent reserve evaluator as of December 31, 2018 CALGARY, Alberta--(BUSINESS WIRE)--2018 HIGHLIGHTS 2018 adjusted funds flow of $1.67 billion or $4.60 per share, representing a per share increase of 36 percent compared to 2017. 2018 net income of $440 million, $1.21 per share. Operating income of $574 million, $1.58 per share, up 76 percent versus 2017. As of December 31, 2018, 7G’s trailing 12-month return on capital [Read more]

Phillips 66 Partners to Announce First-Quarter Financial Results

HOUSTON--(BUSINESS WIRE)--Phillips 66 Partners (NYSE: PSXP) executive management will host a conference call webcast at 2 p.m. EDT on Tuesday, April 30, to discuss the partnership’s first-quarter 2019 financial results, which will be released earlier that day, and provide an update on strategic initiatives. To access the webcast, go to the Phillips 66 Partners Events and Presentations site, www.phillips66partners.com/events. A replay of [Read more]

Phillips 66 to Announce First-Quarter Financial Results

HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) executive management will host a conference call webcast at noon EDT on Tuesday, April 30, to discuss the company’s first-quarter 2019 financial results, which will be released earlier that day, and provide an update on strategic initiatives. To access the webcast, go to the Phillips 66 Investors site, www.phillips66.com/investors, and click on “Events and Presentations.” A replay of the webcast will be [Read more]

Devon Energy Announces Final Step to Complete Transformation to U.S. Oil Growth Company

Highlights Pursuing separation of its Canadian and Barnett Shale assets Expect to complete separation by end of 2019 Share-repurchase authorization increased to $5 billion Quarterly dividend increased 13 percent Committed to at least $780 million in annual cost reductions OKLAHOMA CITY--(BUSINESS WIRE)--Devon Energy Corp. (NYSE: DVN) today announced that the board of directors has authorized the company to pursue the separation of its Canadian and Barnett Shale assets to [Read more]