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Integrated Oil & Gas

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Centennial Resource Development says will issue, sell 23.5 mln Class A shares in private placement

Friday, 5 May 2017 07:00am EDT

May 5 (Reuters) - Centennial Resource Development Inc :Centennial Resource Development announces commitments for private placement of equity.Centennial Resource Development- entered deal to issue,sell 23.5 million shares of class a common stock to third-party investors in a private placement.Centennial Resource Development Inc- agreement for gross proceeds of approximately $341 million.

Shell posts higher Q1 profits, beats forecasts

Thursday, 4 May 2017 01:29am EDT

May 4 (Reuters) - Shell ::Current cost of supplies (CCS) basis, Shell's Q1 2017 earnings, excluding identified items, were $3.8 billion, up 142% from $1.6 billion for Q1 of 2016 .Q1 CCS earnings attributable excluding identified items estimate of $3.05 billion – company compiled estimates.Q1 CCS earnings attributable to shareholders excluding identified items rose on higher contributions from upstream and chemicals, partly offset by higher net interest expense.Q1 2017 oil and gas production was 3.7 million barrels of oil equivalent per day, an increase of 2% compared with q1 2016.Qtrly cash flow from operating activities of $9.5 billion and free cash flow of $5.2 billion.Continue to reshape Shell's portfolio and transform company, with over $20 billion of $30bn divestment target completed or announced.Gearing at end of Q1 2017 was 27.2%, down from 28% at end of Q4 2016.Q2 corporate earnings expected to include non-cash charge of some $500–600 million, driven by restructuring of funding of businesses in north America.Expects to generate $10 billion in cash flow from operating activities by 2018.

China CIC, Canada's Brookfield acquire Petrobras pipeline unit

Wednesday, 5 Apr 2017 01:04am EDT

China's sovereign wealth fund China Investment Corp said it has joined hands with Canada's Brookfield Asset Management Inc in acquiring 90 percent of a natural gas pipeline unit from Brazil's state oil firm Petrobras . : The investor group includes other institutional investor, and the pipeline unit is called Nova Transportadora do Sudeste S.A., CIC stated on its website on Wednesday . Reuters reported last September that Petrobras agreed to sell 90 percent of its natural gas pipeline unit to a group of investors for $5.2 billion [nL1N1BI0VX] (Reporting by Chen Aizhu) ((aizhu.chen@thomsonreuters.com; +8610 66271211; Reuters Messaging: aizhu.chen.reuters.com@reuters.net)) Keywords: CHINA PETROBRAS/PIPELINE ACQUISITION (BRIEF).

Aker Solutions wins NOK 1 bln Njord A contract from Statoil

Friday, 17 Mar 2017 02:10am EDT

Aker Solutions Asa : Aker Solutions secures 1 billion Norwegian crowns ($117.64 million) in work for Njord A upgrade for Statoil . Aker solutions' share of work is valued at about nok 1 billion and will be booked in company's first-quarter orders . Aker Solutions will provide design engineering for the upgrading of the semi-submersible Njord A platform in Norway . The company will as a subcontractor of Kvaerner take part in upgrading the platform after operator Statoil exercised an option in an agreement awarded in April 2016 [nASN00061Y] . This is the largest offshore platform in Norway to have been brought to shore for a total upgrade," said Luis Araujo, chief executive officer of Aker Solutions . Aker Solutions' office in Bergen will execute the engineering work with support from the company's division in Oslo, working as part of an integrated team with Kvaerner . The work has already started and will at its peak involve about 330 Aker Solutions' employees .Delivery is scheduled for spring 2020.

Oil group Total to sell some Gabon assets to Perenco in $350 mln deal

Monday, 27 Feb 2017 02:45am EST

Total Sa : Signed an agreement for the sale of stakes and the transfer of operatorship in various mature assets in Gabon to Perenco . Agreement includes the sale of group’s 100%-owned affiliate Total Participations Petrolières Gabon, which holds interests in 10 fields . In addition, Total Gabon has announced the sale of its interests in five fields and the Rabi-Coucal-Cap Lopez pipeline network . Total value of the transactions is around $350 million before adjustments and the production divested by Total represents around 13,000 SEC barrels per day (b/d). . "Total remains committed to Gabon and will focus on maximizing value from its principle strategic operated assets," says Arnaud Breuillac, President of Total Exploration & Production, in a statement Further company coverage: [TOTF.PA] ((sudip.kargupta@thomsonreuters.com;)).

Chesapeake Energy reports Q4 adjusted earnings $0.07/share

Thursday, 23 Feb 2017 07:48am EST

Chesapeake Energy Corp : Chesapeake energy corporation reports 2016 full year and fourth quarter financial and operational results . Q4 revenue fell 24 percent . Q4 adjusted earnings per share $0.07 excluding items . Q4 loss per share $0.84 . Q4 earnings per share view $0.07 -- Thomson Reuters I/B/E/S . Says average daily production for 2016 Q4 of approximately 574,500 barrels of oil equivalent . Q4 total revenues $2,021 million versus $2,649 million . Says as of Dec 31, 2016, Chesapeake's debt principal balance was approximately $10.0 billion, compared to $9.7 billion as of December 31, 2015 . Sees FY total capital expenditures $1,900 million - $2,500 million . Sees FY NGL absolute production 18 - 20 mmbbls . Sees FY oil absolute production 33 mmbbls - 35 mmbbls . Sees FY liquids absolute production 51 mmbbls - 55 mmbbls . Chesapeake expects to end February with approximately $300 million in cash on hand . Says average daily production for 2016 Q4 consisted of approximately 90,400 bbls of oil, 2.562 bcf of natural gas and 57,100 bbls of NGL . Says "planning to sell additional non-core and non-operated properties in 2017" . Says Chesapeake's average daily production for 2016 Q4 was approximately 574,500 boe . Says for 2017 Q1, company expects its average daily production to range between 515,000 and 535,000 boe . Says Chesapeake is currently utilizing 17 drilling rigs across its operating areas.

Turcas Petrol to merge with its unit Turcas Elektrik Üretim via acquisition

Friday, 20 Jan 2017 08:55am EST

Turcas Petrol : Says to merge with 99.99 percent owned indirect subsidiary Turcas Elektrik Üretim via acquisition with an aim to effectively manage subsidiaries portfolio and financial resources within the group and enhance resource optimization .More effective and active hedging mechanism is aimed with this merger transaction via reclassification of foreign currency denominated long term investment loans within the group under the same balance sheet of the Company, which has foreign currency denominated revenues.

Dundee Energy - strategic review process for Dundee Energy LP

Tuesday, 10 Jan 2017 08:26pm EST

Dundee Energy Ltd : Dundee Energy Limited announces initiation of strategic review process for dundee energy limited partnership . Says has engaged Dundee Capital Partners, an unrelated entity, and CW leigh cassidy of whitewater inc. As its financial advisors . Dundee Energy Ltd -has not set schedule to complete its identification, examination and consideration of strategic alternatives with respect to delp . Strategic alternatives may include, but are not limited to, a debt restructuring . Says does not intend to provide updates until such time as board of directors approves a definitive transaction . Dundee Energy Ltd - strategic alternatives may include sale of all or a material portion of assets of delp . Dundee Energy Ltd-strategic alternatives may include outright sale of delp, or business combination or other transaction involving delp and third party .Strategic alternatives may include, but not limited to alternative financing initiatives.

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