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Integrated Oil & Gas

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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.

Paramount Resources Ltd provides update on operations and midstream sales process

Wednesday, 20 Jan 2016 01:09am EST

Paramount Resources Ltd:Provides update on operations and midstream sales process.Says fourth quarter 2015 sales volumes averaged approximately 45,000 boe/d, including 10,000 boe/d of condensate.Continues to implement measures to reduce its cost structure while maximizing the efficiency and effectiveness of its operations.Says production in the fourth quarter was impacted by a scheduled ngls pipeline outage.Fourth quarter production was also impacted by an unscheduled outage at the third-party operated smoky deep cut plant.Has reduced its permanent workforce by approximately 15 percent and eliminated most of the corporate consultant positions.Employee salaries have been reduced by five percent in 2016 and rates for contract work have been reduced by 10 to 15 percent.Says general and administrative expenses are expected to be reduced by more than 15 percent in 2016.Labour and travel costs for the company's field operations are expected to be reduced by 12 to 15 percent in 2016.Currently conducting a process for the potential sale of certain of its midstream assets in the kaybob operating unit.No assurance that mistream sales process will result in a definitive sale agreement being entered into or a sale being consummated.

Total SA plans maintenance at UK's 207,000 bpd Lindsey refinery in summer - Reuters

Thursday, 17 Dec 2015 04:35am EST

Total SA:Total will shut down one of two crude distillation units (CDU) for planned maintenance at its 207,000 barrel per day Lindsey refinery in Britain in June and July next year, a spokesman said on Thursday. - RTRS."We will have a turnaround which will involve work to transfer to the new structure of the operational units," he said in an email. - RTRS.He added the previously announced permanent shutdown of the second CDU will take place in September, halving the total capacity of the plant on the east coast of England. - RTRS.The restructuring plan will involve cutting the workforce by 180 positions to 400. Total said in February that it was looking to increase the plant's efficiency and competitiveness - RTRS.

PetroChina announces reorganization between subsidiaries

Wednesday, 25 Nov 2015 07:00pm EST

PetroChina Co Ltd:Says Kunlun-based energy company to merge a Kunlun-nased fuel gas company.The company current holds 58.33 pct stake in Kunlun-based energy company and holds 100 pct stake in Kunlun-nased fuel gas company.

Petroleo Brasileiro SA Petrobras to partially spin-off Gaspetro and to set up new subsidiary

Monday, 26 Oct 2015 06:27am EDT

Petroleo Brasileiro SA Petrobras:Informs that on Oct. 23, 2015 the board has approved partial spin-off of Petrobras Gas SA (Gaspetro).Says the spin-off is aimed at segregating company’s assets and liabilities, related to natural gas distribution business and other assets and liabilities, making Gaspetro a holding that will consolidate Petrobras' shares in gas distributors.Informs that the board has approved setting up of a new wholly owned subsidiary Petrobras Logistica de Gas SA, aimed at gathering assets and liabilities not related to the business of natural gas distribution, segregated in Gaspetro.

Turcas Petrol AS to merge with unit Turcas Rafineri Yatirimlari

Friday, 9 Oct 2015 04:01am EDT

Turcas Petrol AS:Decides to merge with wholly owned unit Turcas Rafineri Yatirimlari.The main rationale behind this decision is the non-operational status of Turcas Rafineri Yatırımları following the divestment of shares in STAR Rafineri owned via Turcas Rafineri Yatırımları on May 15, 2014.

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