Reuters - Following Moscow's invasion of Ukraine, world's largest oilfield firm SLB (SLB.N) has boosted its business in Russia by cherry-picking service and equipment contracts from rivals who left, according to company documents and people familiar with its operations.
While SLB's continued embrace of Russia has drawn sharp criticism, interviews with two people close to the company and industry sources, as well company documents reviewed by Reuters show SLB's decision to help Russia increase oil and gas production with its services and drilling equipment has paid off.
Chesapeake Energy Announces Sale Of Initial Eagle Ford Package
PRNewswire - Chesapeake Energy Corporation (NASDAQ:CHK) today announced that it has entered into an agreement...
PRNewswire - Chesapeake Energy Corporation (NASDAQ:CHK) today announced that it has entered into an agreement to sell the Brazos Valley region of its Eagle Ford asset to WildFire Energy I LLC for $1.425 billion.
"Today marks an important step on our path to exiting the Eagle Ford as we focus our capital on the premium, rock, returns, and runway of our Marcellus and Haynesville positions," said Chesapeake President and Chief Executive Officer Nick Dell'Osso. "We remain actively engaged with other parties regarding the rest of our Eagle Ford position."
Chesapeake has agreed to sell approximately 377,000 net acres and approximately 1,350 wells in the Brazos Valley region of its Eagle Ford asset, along with related property, plant, and equipment. The average net daily production from these properties was approximately 27,700 barrels of oil equivalent (boe) (85% liquid) during the third quarter of 2022. As of December 31, 2021, net proved reserves associated with these properties were approximately 96.8 million barrels of oil equivalent (mmboe).
Benchmark U.S. crudeoil for February delivery fell 70 cents to $79.48 a barrel Wednesday. Brent crude for March delivery fell 94 cents to $84.98 a barrel.
Wholesale gasolinefor February delivery fell 3 cents to $2.52 a gallon. February heating oilrose 1 cent $3.26 a gallon. February natural gas fell 28 cents to $3.31 per 1,000 cubic feet.
Dow closes down over 600 points amid economic slowdown fears
U.S. stock indexes finished sharply lower on Wednesday, with...
U.S. stock indexes finished sharply lower on Wednesday, with both the Dow Jones Industrial Average and the S&P 500 index booking their worst day in over a monthafter data on falling retail sales in the holiday shopping season raised concerns that consumer spending and economic growth are losing momentum as the Federal Reserve raises interest rates.
The S&P 500 SPX, -1.56% was off 62.11 points, or 1.6%, to end at 3,928.86
The Dow Jones Industrial Average DJIA, -1.81% fell 613.89 points, or 1.8%, to finish at 33,296.96
The Nasdaq Composite COMP, -4.66% lost 138.10 points, or 1.2%, ending at 10,957.01
Heavy slate of U.S. oil refinery overhauls to crimp fuel output
U.S. oil refiners plan twice as many refinery overhauls this spring as usual, aiming to resume maintenance...
U.S. oil refiners plan twice as many refinery overhauls this spring as usual, aiming to resume maintenance delayed by the pandemic and by the lure of record-high margins, according to data provider IIR Energy and Reuters reporting.
The size of the planned outages suggests supplies of gasoline and diesel could tighten and margins rise as the European Union's Feb. 5 ban on imports of Russian petroleum products takes effect, increasing the call on U.S. fuels.
At least 15 U.S. oil refineries plan maintenance ranging from two to 11 weeks through May, tallies by Reuters and refining intelligence firm IIR Energy show. By mid-February, U.S. refiners will drop some 1.4 million barrels per day of processing capacity, double the five-year average, according to IIR.
