Royal Dutch Shell plc roundly beat earnings forecasts for the first quarter, posting a 300%-plus increase in profits from a year ago, while its decision to capture more of the global natural gas market paid handsome dividends.
Articles from Billion
U.S. E&P Dealmaking at Breakneck Pace During First Quarter
Enthusiastic investors set a torrid pace for U.S. energy dealmaking in the first quarter, breaking the record for first quarter deal values, according to a tally by PwC.
Apache Goes All-In on Permian, Directing Most Global Capex to Delaware, Midland
Apache Corp. is taking the Permian Basin as its main dance partner this year, with two-thirds of 2017 spending destined for the big play’s myriad formations.
Enterprise Products Adding Isobutane Unit at Mont Belvieu; 4Q Net Income Down
Enterprise Products Partners Monday said it plans to construct an isobutane dehydrogenation (iBDH) unit in Mont Belvieu, TX, that will have the capability to produce 425,000 tons per year of isobutylene.
ExxonMobil Boosting Activity, Raising Capex by 14%; Takes $2B Charge Against U.S. NatGas Fields
ExxonMobil Corp. recorded a $2 billion writedown on the value of U.S. natural gas fields during the final three months of 2016, but the supermajor is remaining focused on the long-term, with a continuing tilt toward increasing oil production and expanding its domestic petrochemicals arm, the investor relations chief said Wednesday.
AltaGas Ltd. of Canada Puts Foot in Marcellus With WGL Holding Acquisition
Calgary’s AltaGas Ltd. secured a role in Marcellus Shale gas development — in addition its prominence in the Montney formation in northern British Columbia — with a friendly takeover Wednesday of Washington, DC-based WGL Holdings Inc.
Sempra’s IEnova Considering $800M in Mexico Projects For 2017
Eight projects worth $800 million,including a stake in a major subsea natural gas pipeline in the Gulf of Mexico, are on the plate of Sempra Energy’s Mexico-based Infraestructura Energetica Nova, SAB de CV (IEnova), CEO Carlos Ruiz Sacristan said Monday.
Kinder Weathers Throughput Declines, Takes Writedown on Ruby Pipeline
The fourth quarter marked the second in a row that Kinder Morgan Inc. (KMI) took a writedown on natural gas pipeline assets. Revenue was down, again, on lower oil/natural gas throughput, but adjusted earnings were in line with Street expectations.
Texas Taxman Looking Forward to More Oil/NatGas Revenue
The Texas oil and natural gas industry is making its presence felt through a currently diminished contribution to Lone Star State coffers because of the commodities price rout and industry downturn. However, tax collections from oil and gas activity are expected to be on the upswing.
Canada’s Duvernay Seen as Attractive in Early Days, Despite Low Prices
Canada’s youngest shale play, the Duvernay geological formation, is emerging as “extremely competitive” on the North American scale of drilling targets, a Calgary industry conference heard Wednesday.