Carolyn Davis

Shell plc’s Integrated Gas trading arm, which includes global LNG, is expected to report “significantly higher” sequential results for the final three months of 2023 “due to seasonality and increased optimization opportunities.” The London-based major on Monday provided an update of its projected fourth quarter results, with solid operations from the world’s No. 1 liquefied…

ExxonMobil is warning that it expects to have a one-time writedown of $2.5 billion in 4Q2023 for the reduced value of some upstream assets in California, similar to a one-time quarterly impairment expected by Chevron Corp. The one-time impairment would be for the idled Santa Ynez Unit (SYU) and associated oil and gas facilities, ExxonMobil…

A multi-year effort to pause oil and natural gas development across a portion of Colorado’s Western Slope may soon be finalized, according to federal officials. A draft environmental assessment (DEA) issued in December by the U.S. Forest Service (USFS) found there would be “no significant impact” if federal mineral leasing was withdrawn for 20 years…

A divided appeals court on Tuesday affirmed its ruling that the first natural gas ban enacted in the United States, in Berkeley, CA, is preempted by federal law, setting the stage for more legal fights across the country. In a 65-page amended opinion, the U.S. Court of Appeals for the Ninth Circuit threw out Berkeley’s…

Houston’s APA Corp., which in recent years has pursued overseas oil and gas prospects, is storming back to the Permian Basin with a $4.5 billion all-stock takeover of Callon Petroleum Co. APA, long a Permian exploration and production (E&P) stalwart, already has a broad portfolio in the Midland and Delaware formations. In the Delaware, where…

Chevron Corp.’s upstream oil and natural gas assets are set to take a big one-time hit in the fourth quarter results, primarily because of “continuing regulatory challenges” in California, where the integrated major is headquartered.  The San Ramon-based producer on Tuesday detailed the upstream impairments in a Securities and Exchange Commission Form 8-K filing.  The…

The former chief of BP plc, Bernard Looney, is set to forfeit more than $40 million in compensation after he “knowingly misled” the board about his previous relationships with colleagues. Looney, who resigned abruptly in September, gave the board “inaccurate and incomplete assurances” as part of an investigation that began in 2022, according to the…

The blitz of tie-ups in the U.S. oil and gas industry is continuing, with Kodiak Gas Services Inc. offering to buy CSI Compressco LP in a deal that would become the largest contract compression fleet in the industry with an estimated 4.3 million hp. The all-equity acquisition, valued at $854 million including debt, would deepen…

The deepwater Gulf of Mexico is getting renewed attention by Shell plc, which recently sanctioned two big projects in a row. In the Great White unit, a prolific oil- and natural gas-rich area of the deepwater, is set to expand with three wells, which would be processed through the Perdido platform in Mississippi Canyon, according…