Finance - News

Suncor Energy Expects 2019 Upstream Production To Rise By 10%

Suncor Energy Inc. (NYSE: SU), Canada’s second-largest energy producer, said on Dec. 14 it expects average upstream production to rise 10% in 2019, even after implementing Alberta’s mandated output cuts.

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Pioneer Natural Resources To Buy Back $2 Billion Of Shares

Pioneer Natural Resources CEO Timothy Dove said the buyback plan was consistent with the priorities of the  Permian Basin-focused company's 10-year plan.

December 13, 2018

Cavalcade Midstream Makes $150 Million Partnership With Pearl, Old Ironsides, NGP

San Antonio-based newcomer is focusing on projects in the Permian Basin.

December 12, 2018

Cenovus Cuts 2019 Capital Budget By 4%, Raises Production Outlook

Canada’s Cenovus Energy Inc. (NYSE: CVE) said on Dec. 11 it would reduce its capital spending for 2019 by 4% amidst a broader turnaround plan following its highly criticized deal with ConocoPhillips (NYSE: COP).

December 11, 2018

Brazil’s Petrobras Nears Terms Over TAG Pipeline Sale

A new multibillion dollar syndicated loan is expected to finance the acquisition, two sources said.

December 7, 2018

OPEC Talks Stall As Saudis Refuse To Exempt Iran From Oil Cut

OPEC talks on oil production cuts reached deadlock on Dec. 7 as the group's leader Saudi Arabia refused to grant sanctions-hit Iran exemptions from planned reductions, OPEC sources said.

December 7, 2018

Oil Edges Higher After Russia Indicates Larger Output Cut

Benchmark Brent oil edged up on Dec. 7 after indications Russia would contribute a bigger output cut than previously suggested to an OPEC and non-OPEC deal, although prospects for an overall agreement still hung in the balance.

December 7, 2018

Oil Producer Canadian Natural Sets Lower 2019 Budget

Canadian Natural Resources Ltd. (NYSE: CNQ) on Dec. 5 forecast 2019 capital budget about CA$1 billion (US$753 million) lower than last year, blaming a lack of market access for its oil and “dysfunctional” government processes.

December 5, 2018

Petrobras Says Could Raise More Than $25 Billion Through Asset Sales

Brazilian state-controlled oil company Petrobras said it could raise $26.9 billion through asset sales and partnerships by 2023 as part of a new strategic business plan.

December 5, 2018

Canadian Oil Producers Trade Shares For Growth But Investors Hard To Impress

Depressed Canadian oil prices are forcing energy companies to use their shares as a currency to fund acquisitions, but investors have been hard to win over to the strategy.

November 30, 2018

Oil Prices Steady Near Year Lows Ahead Of G20, OPEC

Oil prices steadied on Nov. 27, depressed by record Saudi production but supported by expectations that oil exporters would agree to cut output at an OPEC meeting next week.

November 27, 2018

Flat Creek Resources Secures EnCap Backing To Pursue Permian Strategy

Flat Creek Resources plans to use its $400 million initial commitment from EnCap Investments to build an attractive asset in the Permian Basin in West Texas and New Mexico.

November 20, 2018