ExxonMobil is looking to report better-than-expected profits for the third quarter, lifted by stronger natural gas prices. The Irving, TX-based supermajor previewed the quarterly results In a Securities and Exchange Commission Form 8-K filing. The filing provides a “perspective regarding market and planned factors affecting 3Q2022,” relative to sequential results, the company said. “These factors…
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ExxonMobil’s 3Q Preview Indicates Strong Returns on Natural Gas Price Strength
ExxonMobil is looking to report better-than-expected profits for the third quarter, lifted by stronger natural gas prices. The Irving, TX-based supermajor previewed the quarterly results In a Securities and Exchange Commission Form 8-K filing. The filing provides a “perspective regarding market and planned factors affecting 3Q2022,” relative to sequential results, the company said. “These factors…
ExxonMobil Gains First-of-Its-Kind Federal OK to Bury CO2 in Wyoming
ExxonMobil has been given the green light by federal officials to sequester carbon emissions deep underground in Wyoming, the first project of its kind to gain approval on federal lands. The Department of Interior’s Bureau of Land Management (BLM) approved the sequestration project in Lincoln and Sweetwater counties. A carbon dioxide (CO2) disposal well pad…
Whitecap Snaps Up Montney, Duvernay Assets in $1.5B Deal with ExxonMobil Affiliates
Calgary-based Whitecap Resources Inc. has clinched a 1,020-square-mile northern Alberta spread of Montney and Duvernay assets held by ExxonMobil companies in an all-cash deal valued at C$1.9 billion ($1.5 billion). The XTO Energy Canada assets, jointly owned by ExxonMobil Canada and its majority-owned affiliate Imperial Oil Ltd., produce about 140 MMcf/d of natural gas and…
Cheniere Sanctions Corpus LNG Expansion on ‘Significant Growth’
Cheniere Energy Inc. said Wednesday it made a positive final investment decision (FID) to expand its Corpus Christi liquefied natural gas (LNG) export terminal in South Texas. The project would add seven midscale liquefaction trains and 10 million metric tons/year (mmty) of capacity at the facility as global demand for LNG surges. “Reaching FID on…
As Global Demand Soars, ExxonMobil Invests in LNG Production Expansion in Qatar
ExxonMobil said Tuesday it would invest in a $29 billion project that would boost Qatar’s liquefied natural gas (LNG) capacity from 77 million tons to 110 million tons annually. The deal comes at a time when demand is soaring, particularly in Europe, amid Russia’s war in Ukraine. The Irving, TX-based supermajor joined other international energy…
TotalEnergies Awarded Stake in Qatar’s North Field East LNG Project
TotalEnergies SE has been awarded an equity stake in Qatar’s massive North Field East (NFE) liquefied natural gas (LNG) expansion project. The French major becomes the first partner in the 32 million metric tons/year (mmty) project. It was awarded a 25% interest alongside QatarEnergy (QE), which has a 75% stake. “This new partnership will enable…
Venture Global Clinches 2 MMty Agreement with ExxonMobil for Louisiana LNG Projects
Venture Global LNG Inc. is progressing its planned liquefied natural gas (LNG) projects in Louisiana after securing twin offtake agreements with an ExxonMobil affiliate. The Arlington, VA-based company inked two 20-year sale and purchase agreements (SPA) for a combined 2 million metric tons/year (mmty) with ExxonMobil Asia Pacific Pte Ltd. The affiliate may split the…
ExxonMobil to Stay Disciplined Amid Growing Global Opportunities for Oil, Natural Gas
Growth in the Permian Basin, Guyana’s offshore and the global liquefied natural gas (LNG) market are gaining momentum, along with low-carbon opportunities, ExxonMobil CEO Darren Woods said last week. During the 1Q2022 conference call on Friday (April 29), Woods told investors that “recent events” have clarified the direction for oil and gas producers. New investments…
ExxonMobil Gains Certification for 200 MMcf/d of Permian Natural Gas; Xcel Takes Some Volumes
Nearly 200 MMcf/d of the natural gas that ExxonMobil produces at Poker Lake, NM, in the Permian Basin have been independently certified for methane emissions management, the supermajor said Tuesday. The certification from MiQ is the first by a company for its associated gas production from oil, ExxonMobil said. The certification process also is being…