Welcome to the BOE Report’s Week in Review! Did you miss something this week? We’ve got you covered. Check out any BOE Intel articles that you missed, and catch up on our most read articles from the week. We have also included the top gainers and fallers in the energy markets this week among our BOE Intel coverage list. TOP 5 GAINERS/FALLERS THIS WEEK Top 5 Gainers Company Ticker 7 Day Return Obsidian Energy OBE.TO 10.39% Journey [Read more]
Headlines
Secure announces voting results of the 2024 annual meeting of shareholders
CALGARY, AB, April 26, 2024 /CNW/ - SECURE ENERGY Services Inc. ("SECURE", the "Corporation", "we" or "our") (TSX: SES) is pleased to announce that all of the nominees proposed as directors and listed in the management information circular and proxy statement dated March 11, 2024 (the "Circular"), were elected as directors of the Corporation at its Annual Meeting of the Shareholders held on April 26, 2024 (the "Meeting"). KPMG LLP was also reappointed as the Corporation's independent auditors at [Read more]
Kinder Morgan declares force majeure on west Texas natgas pipeline
Pipeline operator Kinder Morgan said on Friday a fire that erupted on a west Texas natural gas pipeline it operates was extinguished after burning for most of the day. The Houston company declared force majeure on a segment of the pipeline in Ward County, Texas, following the fire, according to a notice filed on a company website on Friday. The force majeure affects the Lockridge Lateral segment of the Natural Gas Pipeline of America system. The outage will disrupt flows to 10 locations in [Read more]
Hess sets May 28 shareholder vote on Chevron buyout
Hess Corp set May 28 for a special meeting of shareholders to vote on Chevron Corp 's $53 billion buyout offer, the company said in a securities filing on Friday. Chevron last October offered to acquire Hess Corp in a move to gain a foothold in oil-rich Guyana's lucrative offshore fields. The deal has been stalled by a regulatory review and challenged by Exxon Mobil, which has filed an arbitration claim that could block the deal. The CEO of the no. 2 U.S. oil producer said on Friday said [Read more]
Mexico’s Pemex reverses proposed crude export cuts for May, sources say
Mexican state oil company Pemex is reversing crude exports cuts of at least 330,000 barrels per day (bpd) planned for May amid a smaller-than-expected oil demand by the company's domestic refineries, two sources close to the decision said on Friday. Pemex's international trading unit in April began enforcing exports cuts over supply crude contracts to customers in the United States, Asia and Europe to increase its availability of crude for domestic refining. Its new Olmeca Refinery in the [Read more]
Trans Mountain expansion requires six more leave-to-open permits, regulator says
The Canada Energy Regulator (CER) has six leave-to-open applications left to consider for the 590,000 barrel-per-day Trans Mountain pipeline expansion project, a CER spokesperson said on Friday. The Canadian government-owned pipeline expansion will nearly triple the flow of crude from Alberta to Canada's Pacific Coast and open up access to Asia and the U.S. West Coast. So-called leave-to-open orders signal permission from the regulator that a section of pipeline can start operating. After [Read more]
US drillers cut most oil rigs in a week since November – Baker Hughes
U.S. energy firms this week cut five oil rigs, the biggest weekly drop since November, energy services firm Baker Hughes said in its closely followed report on Friday. Meanwhile, the oil and gas rig count, an early indicator of future output, fell by six to 613 in the week to April 26, the lowest since February 2022. Baker Hughes said that puts the total rig count down 142 rigs, or 18.8%, below this time last year. The number of oil rigs fell by five to 506 this week, while gas rigs [Read more]
Earnings for Big Oil backpaddle as natgas prices tumble
U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago. Results at oil and gas firms are still retreating from record levels in 2022 that were boosted by a surge in demand after the COVID-19 pandemic and then when prices spiked after Russia invaded Ukraine. In the U.S., Exxon Mobil missed Wall Street earnings targets on fuel derivatives and Chevron beat tempered expectations with [Read more]
Chevron reports first quarter 2024 results
Reported earnings of $5.5 billion; adjusted earnings of $5.4 billion Worldwide production 12 percent higher than a year ago Returned $6 billion cash to shareholders; eighth straight quarter over $5 billion Achieved key project milestones in Kazakhstan, East Mediterranean and U.S. SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) reported earnings of $5.5 billion ($2.97 per share - diluted) for first quarter 2024, compared with $6.6 billion ($3.46 per share [Read more]
ExxonMobil announces first-quarter 2024 results
Generated strong first-quarter earnings of $8.2 billion and $14.7 billion of cash flow from operating activities Achieved quarterly gross production of more than 600,000 oil-equivalent barrels per day in Guyana and reached a final investment decision on the sixth major development Grew performance chemical sales volumes and delivered record first-quarter refining throughput1 while maintaining excellent turnaround performance Reduced operated methane emissions intensity by [Read more]
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