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BW Energy reports Q1 2024

BW Energy, the operator of the Dussafu Marin licence in Gabon and the Golfinho cluster offshore Brazil, reported an EBITDA of USD 109.7 million for the first quarter of 2024, down from USD 133.4 million in the previous quarter. The decrease was primarily attributed to lower oil sales during the period. Net production from BW Energy's operated assets reached approximately 27,300 barrels of oil per day in Q1, marking a slight increase from the prior quarter. This includes output from the Tortue, Hibiscus, and Hibiscus South fields within the Dussafu licence (73.5 percent working interest) and the Golfinho field (100 percent working interest), following BW Energy's acquisition in late August 2023.... > read more

Equinor and Petoro agree

Equinor and Petoro have entered into a value-neutral asset swap agreement in the Haltenbanken area, marking a strategic realignment of their ownership stakes to enhance long-term value creation on the Norwegian continental shelf. Through this agreement, Equinor will increase its ownership in the Heidrun field and Noatun discovery while reducing its stakes in the Tyrihans field, the Castberg field, and the Carmen and Beta discoveries. This swap aligns the ownership structure to streamline operations and promote efficient development. Kjetil Hove, executive vice president for Exploration and Production Norway at Equinor, stated, “We have a strategy to continue the development and value creation on the Norwegian continental shelf and expect to maintain high production with lower emissions towards 2035. Alignment of ownership around the larger production hubs are important enablers for long-term value creation.”..... > read more

BW Energy provides Q1 2024 operations update

BW Energy, the operator of the Dussafu Marine licence in Gabon and the Golfinho cluster offshore Brazil, has provided an update on its operations and development plans. The Company is set to publish its financial figures for the first quarter of 2024 on Friday, 24 May 2024. In the first quarter of 2024, net production to BW Energy from its operated assets amounted to 2.48 million barrels of oil. This includes production from the Tortue, Hibiscus, and Hibiscus South fields in the Dussafu licence (73.5 percent working interest) and production from the Golfinho field (100 percent working interest)..... > read more

ExxonMobil completes acquisition of Pioneer

Exxon Mobil Corporation has officially concluded its acquisition of Pioneer Natural Resources Company, marking a transformative milestone in ExxonMobil's upstream portfolio. This strategic move more than doubles the company's footprint in the Permian Basin, combining Pioneer's substantial acreage, entrepreneurial ethos, and industry expertise with ExxonMobil's robust balance sheet, cutting-edge technologies, and unparalleled project development capabilities. The merger establishes an Unconventional business with unparalleled development potential in the Permian Basin, boasting over 1.4 million net acres across the Delaware and Midland basins, holding an estimated 16 billion barrels of oil equivalent resource. ExxonMobil's Permian production volume is set to soar, doubling to 1.3 million barrels of oil equivalent per day based on 2023 volumes, with projections to reach approximately 2 MOEBD by 2027.... > read more

Touchstone exploration announces acquisition

Touchstone Exploration Inc. has announced an agreement with Trinity Exploration and Production Plc for an all-share acquisition, consolidating their operations in Trinidad and Tobago. Under the terms, Touchstone will acquire all issued and to be issued ordinary share capital of Trinity. Trinity shareholders will receive 1.5 common shares of Touchstone for each Trinity common share held. This represents an implied value of Trinity of approximately $30.1 million, with a premium of 71.9 percent to Trinity's closing price on April 30, 2024, on AIM, the London Stock Exchange's market...... > read more
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BW Energy, the operator of the Dussafu Marine licence in Gabon and the Golfinho cluster offshore Brazil, has provided an ... > read more
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