North America
Field Development , Subsea , Discoveries , Deepwater
E&P Highlights: April 15, 2024
Here’s a roundup of the latest E&P headlines, including an ultra-deepwater discovery and new contract awards.
Dividends/Buybacks
Global Partners Declares Cash Distribution for Series B Preferred Units
Global Partners LP announced a quarterly cash dividend on its 9.5% fixed-rate Series B preferred units
Pipelines , Trade , International
Biden Administration Argues Against Enbridge Pipeline Shutdown Order
The U.S. argues that shutting down the pipeline could interrupt service and violate a 1977 treaty between the U.S. and Canada to keep oil flowing.
Energy Transition , Exploration & Production
‘Unapologetic,’ Barclays Restarts E&P Coverage: ‘The World Needs Oil and Gas’
Barclays analysts, in restarting coverage of E&Ps, presented anti-hydrocarbon investors with “a reality check on energy transition.”
Midstream , Dividends/Buybacks
Pembina Declares Series of Quarterly Dividends
Pembina Pipeline Corp’s board of directors declared quarterly dividends for series 1, 3, 5, 7, 9, 15, 17, 19, 21, 22 and 25.
Completions , Unconventional , Drilling , DUG Haynesville , Shale Plays
Haynesville’s Harsh Drilling Conditions Forge Tougher Tech
The Haynesville Shale’s high temperatures and tough rock have caused drillers to evolve, advancing technology that benefits the rest of the industry, experts said.
Crude Oil , Pipelines
US Gulf Coast Heavy Crude Oil Prices Firm as Supplies Tighten
Pushing up heavy crude prices are falling oil exports from Mexico, the potential for resumption of sanctions on Venezuelan crude, the imminent startup of a Canadian pipeline and continued output cuts by OPEC+.
Liquefied Natural Gas (LNG) , Natural Gas
Mexico Pacific FID Imminent for Saguaro LNG Trains 1 and 2
Mexico Pacific Ltd. is close to taking an initial final investment decision for the first two trains at its Saguaro Energía LNG facility in Sonora, Mexico, which will source feed gas from the Permian Basin.
Pipelines
Early Startup of Trans Mountain Pipeline Expansion Surprises Analysts
Analysts had expected the Trans Mountain Pipeline expansion to commence operations in June but the company said the system will begin shipping crude on May 1.
Earnings , Shale Plays , Rig Counts , Field Development
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.