Shell to deliver more value with less emissions Enhanced focus on performance, discipline and simplification Shareholder distributions increased to 30-40% of cash flow from operations (CFFO) through the cycle 15% increase in dividend per share effective Q2 2023* Share buybacks of at least $5 billion for the second half of 2023* Capital spending reduced to $22-25 billion per year for 2024 and 2025 Annual operating cost structurally reduced by $2-3 billion by end 2025 [Read more]
Headlines
Oil steadies as market awaits US Federal Reserve rate outlook
Oil prices inched up slightly in Asian morning trade on Wednesday as investors awaited the outcome of the U.S. Federal Reserve's June meeting, key economic data from China and government data on U.S. crude stockpiles. Brent crude futures were up 9 cents, or 0.1%, at $74.38 a barrel by 0340 GMT. U.S. West Texas Intermediate (WTI) crude was at $69.43 a barrel, up 1 cent. Both benchmarks climbed more than 3% on Tuesday on hopes of rising fuel demand after China's central bank lowered a [Read more]
Peyto Exploration & Development Corp. announces results of directors vote
CALGARY, Alberta, June 13, 2023 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (TSX – PEY) ("Peyto") is pleased to announce that the nominees listed in the information circular – proxy statement dated March 28, 2023 were elected as directors of Peyto at Peyto's annual meeting of shareholders (the "Meeting") held today, June 13, 2023. The detailed results of the vote for the election of directors held at the Meeting are set out below. Election of Directors On a vote by [Read more]
US hopes to buy 12 mln barrels of oil for reserve this year -source
The Biden administration hopes to buy back at least 12 million barrels of oil for the Strategic Petroleum Reserve this year, including six million already announced, a source familiar with the matter said on Tuesday. The administration is slowly buying back oil from the SPR after selling more than 200 million barrels last year including a record 180 million barrel sale to fight high oil prices after Russia's invasion of Ukraine. The sales have pushed levels in the reserve to the lowest since [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Jun. 13 2nd Class Gas Plant Operator - Summer Relief Roska DBO Edson Jun. 12 Skilled Labourer Strike Group Trans Mountain Expansion Jun. 12 Light Equipment [Read more]
Saturn Oil & Gas Inc. announces graduation to the Toronto Stock Exchange and restored production from Alberta wildfires
Calgary, Alberta--(Newsfile Corp. - June 13, 2023) - Saturn Oil & Gas Inc. (TSXV: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce that it has received approval from the Toronto Stock Exchange (the "TSX") to graduate the listing of its common shares (the "Common Shares") to the main board of the TSX. Saturn expects the Common Shares to commence trading under the symbol "SOIL" on the TSX on June 15, 2023 at which time trading on the TSX Venture Exchange will [Read more]
US Mountain Valley natgas pipe closer to construction after West Virginia permit
The $6.6 billion Mountain Valley natural gas pipeline moved another step closer to restarting construction after West Virginia environmental regulators issued a new water permit, the partnership building the pipe said in court papers. Mountain Valley told the U.S. Court of Appeals for the Fourth Circuit on Monday that West Virginia issued a renewed Section 401 water quality certification for the West Virginia-to-Virginia pipe on June 8. The Fourth Circuit, which has vacated several of the [Read more]
Private Company Review – Westbrick Energy Ltd.
Incorporated in 2011, Westbrick Energy is a longstanding private producer focused within the Greater Pembina region of the Deep Basin. With over 1,800 net locations of mapped drilling inventory and mineral rights that extend from the Belly River through to the Duvernay, Westbrick has steadily grown since receiving a $250 million investment from private equity firm KKR & Co. in 2012. According to Petro Ninja production data, Westbrick's average daily natural gas production over the past 6 [Read more]
Why Trade Shows Don’t Work – And How They Can
Trade shows have long been a popular marketing strategy for energy and industrial companies. These events provide a platform for networking, showcasing products and services, as well as generating leads. However, in the energy sector, where sales cycles are longer and the price tags for equipment and services are higher, buyers find the real information that impacts decision making in the series of interactions that take place before and after the event. Traditional trade shows, on the other [Read more]
‘The beatings will continue until morale improves’ should not be a template for energy policy
There’s positive energy out there, and there’s negative energy, and life is better wrapped in one rather than the other. I get it. I’ve absorbed the cliches and motivational posters; stay away from toxicity and life goes much easier. The energy world has for a very long time been on the right side of the ledger; there is an incredible amount of positive energy development. On the existing oil/gas side, this has mostly always been so - it’s a fantastic, dynamic, entrepreneurial business, and [Read more]