Companies - News
Oil producer Cenovus Energy Inc.’s said Feb. 15 its fourth-quarter profit soared, as production nearly doubled and the Canadian company reined in expenses.
Last month Encana said it plans to invest nearly 70% of this budget to boost production in Permian and Montney, as oil investors pressure producers to improve production without significantly increasing capital budgets.
For 2018, Marathon plans a capital budget of $2.3 billion, of which about 60% of that will be spent in the Bakken and the Eagle Ford Shale. The rest will be spent in the Permian Basin and Oklahoma.
Currently, Murphy Oil has a search process underway to identify CFO John W. Eckart’s successor, the El Dorado, Ark.-based company said in a press release.
Lime Rock’s $1.8 billion “stalking horse” offer tops a $1.6 billion enterprise valuation by Breitburn’s investment bank.
SandRidge Energy ousted its CEO and CFO on Feb. 8 and said it would cut spending, a victory for activist investor Carl Icahn who has railed for months against the U.S. shale producer's board and management.
ExxonMobil said about 900 million boe in its portfolio now qualify as proved reserves under U.S. SEC Guidelines due to the rebound of oil prices in 2017.
Cardinal’s initial Iron Horse System will span Canadian, Grady, Caddo and McClain counties.
Pioneer also plans to sell its acreage in the Eagle Ford Shale, as well the West Panhandle gas field in Texas and the Raton Field in Colorado in order to solely focus on the Permian Basin.
Privately-held Ascent is one of several energy companies U.S. fracking pioneer Aubrey McClendon launched after leaving Chesapeake Energy in 2013.
U.S. oil and gas producer Anadarko Petroleum Corp. (NYSE: APC) posted a better-than-expected quarterly profit on Feb. 6, helped by improved crude prices and cost cuts.
Chevron Corp. (NYSE: CVX) is considering taking part in an oil auction next month in Brazil as part of a consortium of companies, Brazilian oil regulator ANP said on Feb. 6 on its website.