Latest News
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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.
