Energy News Beat (Bloomberg) – Shell Plc is preparing to cut staff from its offshore wind business as Chief Executive Officer Wael Sawan moves the company away from the capital-intensive renewable energy sector. The British oil major is set to begin the layoffs within months, mainly in Europe, according to people familiar with the matter […]
Energy News Beat The US is working to build its own rare earth element supply chain to reduce dependence on China. China currently dominates the market due to decades of investment and lax environmental regulations. Researchers are exploring ways to extract rare earths from existing US coal mines as a potential shortcut. Huge upticks in […]
Energy News Beat Humanity is almost a quarter of the way through the 21st century and Virginia — home to 70% of the world’s data centers — is on the frontlines of the latest emerging technology: artificial intelligence, or AI. The prevalence of data centers and the rising role of AI don’t equate to a […]
Energy News Beat The acquisition of Marathon Oil will extend ConocoPhillips’ reach across shale fields in Texas, New Mexico and North Dakota, adding 2 billion barrels of resources to its portfolio. ConocoPhillips expects share buybacks worth $7 billion in the first year after the deal is completed and $20 billion after the first three years. […]
Energy News Beat Floating LNG player Golar LNG is working to sign definitive agreements for an up to 20-year FLNG deployment. In February, the LNG firm led by Tor Olav Trøim said in its 2023 results report that it had signed a framework agreement with a “potential customer” for a long-term opportunity that could utilize […]
Energy News Beat Energy trader Vitol has extended its existing liquefied natural gas (LNG) supply deal with Korea Middle Power (Komipo). The original SPA was signed in 2011. Deliveries started in 2015, with Vitol supplying Komipo with over 4 million tons of LNG over 10 years. Under this extension agreement, Vitol will continue to supply […]
Energy News Beat DALLAS, May 07 /BusinessWire/ — Kosmos Energy Ltd. (“Kosmos” or the “Company”) (NYSE/LSE: KOS) announced today its financial and operating results for the first quarter of 2024. For the quarter, the Company generated a net income of $92 million, or $0.19 per diluted share. When adjusted for certain items that impact the […]
Energy News Beat HOUSTON, May 07 /BusinessWire/ — Magnolia Oil & Gas Corporation (“Magnolia,” “we,” “our,” or the “Company”) (NYSE:MGY) today announced its financial and operational results for the first quarter of 2024. First Quarter 2024 Highlights: (In millions, except per share data) For the Quarter Ended March 31, 2024 For the Quarter Ended March […]
Energy News Beat Two European energy giants, TotalEnergies of France and Shell of Britain, are considering moving their stock listings to New York, as pressure mounts for them to improve their valuations, which lag their American counterparts. Shifting their listings to the United States would be a blow to European exchanges, where they are among […]
Energy News Beat MIDLAND, Texas, May 07 /BusinessWire/ — Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE:PR) today announced its first quarter 2024 financial and operational results and revised 2024 guidance. Recent Financial and Operational Highlights Delivered Permian Resources’ best quarter to-date: Production outperformance due to accelerated Earthstone efficiencies and continued strong well results […]
Pecos Country Operating, LLC is a privately owned oil and gas exploration and production company headquartered in Fort Worth. We own and operate wells across the South Central United States with our predominant means of production coming out of West and North Texas.
