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08 May 24	Gabon: Hibiscus South pilot well confirms hydrocarbons BW Energy has announced that the DHBSM-2P pilot well confirms that the Hibiscus South deposit extends into the northern part of the field with good reservoir quality, increasing reserve estimates. The Company plans to complete the well as a production well later in 2024.
08 May 24	US: BOEM completes environmental review of Beacon Wind’s proposal for additional site testing offshore Massachusetts The Bureau of Ocean Energy Management (BOEM) has completed its environmental review of Beacon Wind’s proposal to test suction bucket foundations on its lease area offshore Massachusetts. BOEM determined that the proposed testing will not cause significant impacts to environmental resources. Suction bucket foundations are an alternative foundation type that allow for installation of turbines without the need for pile driving.
08 May 24	Norway's Ministry of Energy announces APA 2024 The Norwegian Ministry of Energy has announced APA 2024, encompassing the predefined areas with blocks in the Norwegian Sea, Norwegian Sea and Barents Sea. The deadline to apply for APA 2024 is September 3 2024.
08 May 24	CGG announces alliance with Baker Hughes offering carbon capture and storage solutions CGG has signed a Memorandum of Understanding with Baker Hughes, an energy technology company, at the 2024 Offshore Technology Conference (OTC) in Houston to facilitate the parties exploring jointly offered carbon capture & storage (CCS) solutions.
08 May 24	SBM Offshore announces Q1 2024 trading update SBM Offshore has announced a Q1 2024 trading update. The Company reports year-to-date Directional revenue of US$871 million, in line with expectation and full year 2024 Directional revenue and Directional EBITDA guidance maintained. Awarded contracts in April for the construction and installation of ExxonMobil Guyana’s FPSO Jaguar as part of the Whiptail development.
08 May 24	Occidental announces Q1 2024 results Occidental announced net income attributable to common stockholders for the first quarter of 2024 of $718 million, or $0.75 per diluted share, and adjusted income attributable to common stockholders of $604 million, or $0.63 per diluted share.
08 May 24	Venezuela: Maurel & Prom receives a specific license from the OFAC in relation to its operations in Venezuela Maurel & Prom has received a specific license it had applied for on 1 September 2023 from the U.S. Treasury Department’s Office of Foreign Assets Control ('OFAC') in relation to its 40% consolidated interest in the mixed company Petroregional del Lago ('PRDL'), which operates the Urdaneta Oeste field in Lake Maracaibo in Venezuela.
08 May 24	Aramco announces first quarter 2024 results Aramco has announces first quarter 2024 results. Net income: $27.3 billion (Q1 2023: $31.9 billion). Cash flow from operating activities: $33.6 billion (Q1 2023: $39.6 billion)
08 May 24	Georgia: Block Energy announces Carbon Sequestration MoU Block Energy, the development and production company focused on Georgia, has announced a Memorandum of Understanding ('MoU') with JSC Rustavi Azot, a subsidiary of Indorama Corporation, one of Asia's leading chemical companies, to develop the Carbon Capture and Storage ('CCS') opportunity identified within Block's Patardzeuli-Samgori Middle Eocene reservoir.
08 May 24	VAALCO Energy announces first quarter 2024 results VAALCO Energy has reported operational and financial results for the first quarter of 2024. VAALCO reported net income of $7.7 million for the first quarter of 2024 which was down compared with net income of $44.0 million in the fourth quarter of 2023 and up compared to $3.4 million in the first quarter of 2023.
08 May 24	TGS announces Q1 2024 results TGS has reported interim financial results for Q1 2024. The quarter reflected a strong development in multi-client late sales and high POC early sales rate, resulting in solid profitability in POC financials. POC revenues were USD 227 million compared to USD 229 million in Q1 2023. POC EBITDA of USD 143 million versus USD 119 million in Q1 2023. POC operating result was USD 40 million compared to USD 25 million in Q1 2023.
08 May 24	PGS announces first quarter 2024 results PGS announces first quarter 2024 results. Produced Revenues of $222.6 million, compared to $172.2 million in Q1 2023. Produced EBITDA of $112.5 million, compared to $71.5 million in Q1 2023. Produced EBIT (ex. Impairments and other charges, net) of $26.1 million, compared to a loss of $19.7 million in Q1 2023.
08 May 24	DNO reports strong first quarter results, steps up North Sea activity DNO, the Norwegian oil and gas operator, has reported first quarter 2024 operating profit of USD 61 million, 61 percent higher than the previous quarter, on the back of revenues totaling USD 183 million. Free cash flow at USD 44 million was up 31 percent from the fourth quarter of 2023.
08 May 24	Norway: Var Energi sells Norne area assets and increases stake in Ringhorne East Vår Energi has agreed the sale of its Norne area assets to DNO Norge for a fixed after-tax consideration of USD 51 million, and DNO Norge will transfer to Vår Energi their stake in the Ringhorne East unit.
07 May 24	TotalEnergies and Sinopec strengthen cooperation On the occasion of the state visit to France by the President of the People's Republic of China, TotalEnergies and China Petroleum and Chemical Corporation ('SINOPEC') signed a strategic cooperation agreement to deepen their collaboration, notably in low-carbon energies.
07 May 24	UK: PGS covers licence areas in UK 33rd Round final awards PGS data covers areas offered for award in Tranche 3 of the UK 33rd Round, announced last week by the NSTA. PGS has MultiClient coverage to support energy companies’ next exploration steps and accelerate the timeline from award to production, with high-quality GeoStreamer 3D seismic, and including the brand new Southern North Sea 3D Vision over awarded blocks.
07 May 24	Seadrill announces new contract awards for two drillships Seadrill has announced contract awards for two drillships. The West Capella has secured a one-well contract in South Korea and the West Neptune has secured a six-month contract extension with an independent operator in the U.S. Gulf of Mexico.
07 May 24	Kosmos Energy announces first quarter 2024 results Kosmos Energy has announced its financial and operating results for the first quarter of 2024. For the quarter, the Company generated a net income of $92 million. When adjusted for certain items that impact the comparability of results, the Company generated an adjusted net income of $99 million for the first quarter of 2024.
07 May 24	Zimbabwe: Invictus reports new Cabora Bassa 2023 2D infill seismic survey identifies multiple prospects Invictus Energy has provided an update on the interpretation of new Cabora Bassa 2023 2D Infill Seismic Survey ('CB23 survey') results from its 80% owned and operated Cabora Bassa Project in Zimbabwe. Multiple prospects have been identified in the Dande Formation with seismic amplitude characteristics suggestive of reservoired hydrocarbons.
07 May 24	UK: Finder awarded additional licences in 33rd UK Offshore Licensing Round Finder Energy has received offer letters from the North Sea Transition Authority (NSTA) notifying that it has been successful in winning two licences in the final tranche of awards in the 33rd UK Offshore Licensing Round.
07 May 24	UK: Orcadian Energy offered Southern North Sea licence as part of the 33rd Licensing Round The North Sea Transition Agency ('NSTA') has announced a further tranche of licence awards in the 33rd Round and has indicated that Orcadian Energy will be offered a further licence in the Southern North Sea in addition to the two Central North Sea licences offered on 31 January 2024.
07 May 24	UK: Baron Oil provides update on UK 33rd Offshore Licensing Round Baron Oil has been informed that its application, as a joint venture non-operating partner, in the UK offshore 33rd Round of licensing has been unsuccessful and consequently the Company has not been awarded any blocks in the Licensing Round. The Company no longer holds UK licences and will focus on its core area of SE Asia.
07 May 24	BP announces first quarter 2024 results BP has announced its first quarter 2024 results. The Company reports adjusted EBITDA $10.3 billion; underlying RC profit $2.7 billion; upstream production grew +2.1% vs 1Q23.
07 May 24	Uruguay: Challenger Energy provides update on strategic investment by Charlestown Energy and Chevron farm-out approval process Challenger Energy has entered into long-form legal documentation to give effect to the term sheet for an investment in the Company by Charlestown Energy Partners. Accordingly, Charlestown will advance a £1.5m loan to the Company on terms and conditions as previously announced. Challenger also advises that the regulatory approval process for the farm-out of a 60% interest in the AREA OFF-1 licence, offshore Uruguay, to a subsidiary of Chevron, is progressing.
07 May 24	Sudan: Wildcat Petroleum provides update from recent visit by Company to South Sudan After a recent very successful trip to South Sudan, Wildcat Petroleum has announced the signing of an MOU with the Ministry of Petroleum with regard to the possible development and commercial exploitation of the hydrocarbon assets in selected fields in the Republic of South Sudan.