By: EnergyNewsLive - Harbour Energy, one of the largest ...
By: EnergyNewsLive - Harbour Energy, one of the largest North Sea oil and gas companies has said it will cut jobs following an increase in the windfall tax for oil and gas production profits, the Energy Profits Levy (EPL).
A few months ago, the government announced the EPL will rise from 25% to 35%, as part of its measures to tackle the cost of living crisis.
Although the energy giant has not yet confirmed how many employees will be made redundant, it has been reported that most of those will be Aberdeen-based.
A Harbour Energy spokesperson told ELN: “Following changes to the EPL, we have had to reassess our future activity levels in the UK.
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
