Mergers and acquisitions activity in the US oil and natural gas industry fell 13% year over year to $58...
Mergers and acquisitions activity in the US oil and natural gas industry fell 13% year over year to $58 billion in 2022, the lowest volume since 2005, with big players dominating the landscape, according to a new report from Enverus. Small companies with reduced buying power have "few options available" to build drilling inventory in the current market, said Enverus Director Andrew Dittmar.
Chevron Corp. CVX, -0.97% said late Wednesday that its board has approved a dividend increase of 6% to $1.51 a share, payable March 10 to shareholders of record as of Feb. 16. The board also authorized a $75 billion share buyback authorization, which takes effect April 1 and does not have a fixed expiration date, Chevron said. Shares of Chevron rose 2.9% in the extended session Wednesday after ending the regular trading day down 1%.
Dow ekes out gain as S&P 500, Nasdaq close slightly lower
U.S. stocks finished lower Wednesday, with the S&P 500 booking...
U.S. stocks finished lower Wednesday, with the S&P 500 booking back-to-back losses as investors continued assessing companies' quarterly earnings results.The Dow Jones Industrial Average DJIA, +0.03% closed about flat, while the S&P 500 SPX, -0.02% slipped less than 0.1% and the technology-heavy Nasdaq Composite COMP, -0.18% shed 0.2%, according to preliminary data from FactSet. Among the S&P 500's 11 sectors, utilities had the worst performance with a 1.4% drop. Guidance companies provide on their outlook is also weighing on market sentiment amid concern over a slowing U.S. economy, with tech-giant Microsoft Corp. MSFT, -0.59% warning in a conference call Tuesday that projected revenue could be lower than Wall Street forecast.
Crude oil prices saw a minor increase today when the U.S. Energy...
Crude oil prices saw a minor increase today when the U.S. Energy Information Administration reported an oil inventory build of 500,000 barrels for the week to January 20.
The latest change in inventories compared with two sizeable weekly builds—one of 8.4 million barrels for the second week of January and a 19-million-barrel one for the first week of the month.
At 448.5 million barrels, crude oil inventories in the United States are 3 percent above the five-year average for this time of year.
Hess Corp. set its CAPEX at $3.7 billion for 2023. The bulk of...
Hess Corp. set its CAPEX at $3.7 billion for 2023. The bulk of the spending will target high-margin and high-return assets in the Bakken and offshore Guyana in the Stabroek Block.
Approximately $1.45 billion (39%) will be for production, $1.7 billion (46%) for offshore Guyana developments and $550 million (15%) for exploration and appraisal activities, the company said Jan. 24 in a press release.
