CALGARY, AB, April 15, 2024 /CNW/ - Whitecap Resources Inc. ("Whitecap") (TSX: WCP) confirms that a cash dividend of Cdn. $0.0608 per common share in respect of April operations will be paid on May 15, 2024 to shareholders of record on April 30, 2024. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). In addition, Whitecap announces that it intends to release its first quarter 2024 results after market close on Wednesday, April 24, 2024 and has scheduled a [Read more]
Headlines
US says it will not renew easing of Venezuela oil sanctions unless progress made on elections
The U.S. will not renew a temporary license set to expire on Thursday that widely eased sanctions on Venezuela's oil and gas sector, a State Department spokesperson said, unless progress is made by President Nicolas Maduro on commitments for free and fair elections this year. The U.S. has been concerned about Venezuela's electoral process and what it sees as Maduro's failure to meet his main promises for the July 28 presidential elections. "Absent progress by Maduro and his representatives [Read more]
Freeport LNG gas consumption running near zero for fifth day
Freeport LNG's liquefaction plant remains mostly offline for a fifth straight day, with gas utilization rates at 125 million cubic feet per day (mmcf/d), or 5% of its fully operational use, data from financial firm LSEG showed on Monday. Freeport LNG has been the second-largest U.S. LNG exporter, with an installed capacity of 15 million tons per annum (MTPA), but mechanical problems and repairs to its Quintana, Texas, plant contributed to reduced U.S. LNG output in February and March, the [Read more]
US oil output from top shale regions to rise in May, EIA says
U.S. oil output from top shale-producing regions will rise in May to the highest level in five months, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday. Production from the top basins will climb by more than 16,000 barrels per day (bpd) to 9.86 million bpd, the strongest output since December, the EIA said. U.S. shale oil production, which represents about three-quarters of total U.S. oil output, is rising due to improved well [Read more]
Halliburton, Baker Hughes may see deal pressure after SLB’s buying spree, industry experts say
Investors of Halliburton and Baker Hughes are likely to pile up pressure on the top U.S. oilfield service companies to follow the steps of bigger rival SLB in beefing up their portfolios through deals, industry experts said. SLB made a nearly $8 billion bid for ChampionX earlier this month to add new technology offerings, its second acquisition this year and the biggest purchase since 2016. "For Halliburton, Baker Hughes, they're going to get pressure from their investors, (not only) to [Read more]
US natgas futures hit over 2-week low on lower demand view
U.S. natural gas futures fell about 2% to a more than two-week low on Monday, weighed down by lower demand forecasts for this week than previously expected due primarily to a drop in feedgas to the Freeport LNG export plant in Texas. Front-month gas futures NGc1 for April delivery on the New York Mercantile Exchange were 3.4 cents lower, or 1.9%, to $1.74 per million British thermal units (mmBtu) by 10:16 a.m. ET. "As long as it's (Freeport LNG) offline, the market is going to stay little [Read more]
i3 Energy PLC announces result of GM, approval of share capital reduction
EASTLEIGH, UNITED KINGDOM / ACCESSWIRE / April 15, 2024 / i3 Energy plc (AIM:I3E)(TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, notes that at its General Meeting ("GM") which was convened to consider and vote on a proposed share capital reduction, (considered a Notice of Special Meeting for the purposes of Canadian securities laws, as determined in accordance with National Instrument 54-101, and referred to as a GM in this RNS), held on 15 April [Read more]
EQT announces non-operated asset transaction with Equinor
PITTSBURGH, April 15, 2024 /PRNewswire/ -- EQT Corporation (NYSE: EQT) ("EQT") announced it has entered into an agreement with Equinor USA Onshore Properties Inc. and their affiliates to sell an undivided 40% interest in its non-operated natural gas assets in Northeast Pennsylvania, representing approximately 225 MMcf/d of forecasted 2025 net production. Consideration for the transaction is comprised of $500 million of cash and upstream and midstream assets as described below. Based on recent [Read more]
Source Rock Royalties announces increased monthly dividend
CALGARY, AB, April 15, 2024 /CNW/ - Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that its board of directors has declared a monthly dividend of $0.0065 per common share, payable in cash on May 15, 2024 to shareholders of record on April 30, 2024. This represents an increase of 8% to the monthly dividend. Source Rock has now increased its monthly dividend by 30% since March 2023. This [Read more]
Iranian attacks on Israel sees only muted crude oil reaction: Russell
Crude oil's initial reaction to Iran's drone and missile attacks on Israel was muffled on Monday, with prices of the major contracts barely shifting. There were fears that the barrage of weapons fired at Israel signalled a major escalation of conflict in the Middle East, and the oil price would shift higher in response to heightened fears of possible supply disruptions. But the price moves in early trade in Asia were moderate, with global benchmark Brent crude futures and U.S. West Texas [Read more]
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