reports
- Martin Huseby Karlsen
- Martin Huseby Karlsen
Petrobras FPSO delays may hit service volumes but lengthen cycle
Being the largest global consumer of deepwater oil services, Petrobras’ strategic plans tend to get investor attention. On the positive side, its latest 5-year plan sees 5% higher E&P spending than the previous one, and has a more stable phasing between the years, which is supportive for the cycle duration. However, several FPSOs are facing significant delays, which is on the downside for oil services, leading to delays for deepwater oilfield services (primarily drilling and subsea), likely resu...
SDRL SEADRILL LTD
ARCHERO ARCHER
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
ODL ODFJELL DRILLING
AKSOO AKER SOLUTIONS ASA
DO DIAMOND OFFSHORE DRILLING INC.
RIGN TRANSOCEAN LTD.
BWO BW OFFSHORE LIMITED
BORR BORR DRILLING
SHLF SHELF DRILLING LTD.
VAL VALARIS LTD
NE NOBLE CORP NEW
OTL ODFJELL TECHNOLOGY LTD
SDNS SHELF DRILLING NORTH SEA
DDRIL DOLPHIN DRILLING
DOFG DOF GROUP ASA
VTURA VENTURA OFFSHORE
PLSV PARATUS ENERGY SERVICES LTD.
- Stephane Foucaud
AUCTUS ON FRIDAY - 22/11/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Portion of deeper target at Welchau flows water on test – Two intervals (total of ~16 m) in the Steinalm formation. were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces. Gas was initially observed at surface. While the achieved flow rate highlights the high permeability of the natural fractures, the absence of hydrocarbons is disappoi...
ENW ENWELL ENERGY
SEI. SINTANA ENERGY
PANR PANTHEON RESOURCES
PEN PANORO ENERGY ASA
ENQ ENQUEST PLC
XOM EXXON MOBIL CORPORATION
CRCL CORCEL
ATOM ATOME ENERGY PLC
ITH ITHACA ENERGY PLC
NOG NOSTRUM OIL & GAS PLC
SEAPT NO SEACREST PETROLEO BERMUDA - SEAPT NO
ADX ADX ENERGY LTD
CDR CONDOR ENERGIES INC
PLSR PULSAR HELIUM INC.
ExxonMobil to Expand Advanced Recycling Capacity
SPRING, Texas--(BUSINESS WIRE)-- ExxonMobil (NYSE: XOM) plans to invest more than $200 million to expand its advanced recycling operations at its sites in Baytown and Beaumont, Texas. The new operations are expected to start up in 2026 and can help increase advanced recycling rates and divert plastic from landfills. The company plans to build additional units to reach a global recycling capacity of 1 billion pounds per year by 2027. “We are solutions providers, and this multi-million-dollar investment will enhance our ability to convert hard-to-recycle plastics into raw materials that produc...
LG Chem and ExxonMobil sign MOU for lithium offtake
SPRING, Texas & SEOUL, South Korea--(BUSINESS WIRE)-- Exxon Mobil Corporation (NYSE: XOM) and LG Chem have signed a non-binding memorandum of understanding (MOU) for a multiyear offtake agreement for up to 100,000 metric tons of lithium carbonate. The lithium will be supplied from ExxonMobil’s planned project in the U.S. to LG Chem’s cathode plant in Tennessee, which LG Chem expects to be the largest of its kind in the U.S. “America needs secure domestic supply of critical minerals like lithium,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “ExxonMobil is proud to lead the ...
- Martin Huseby Karlsen
- Stephane Foucaud
AUCTUS ON FRIDAY - 01/11/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.70 per share: Approvals to start well testing at Welchau received. Rig and test equipment mobilized – All necessary approvals have been received to commence flow testing operations on the Welchau-1 discovery well for the period from 30 October 2024 until 31 March 2025. A workover rig has been mobilised to the Welchau-1 drill site with flow testing due to commence during the second half of Novem...
GPRK GEOPARK
A2PAZ7 TETHYS PETROLEUM
SEY STERLING ENERGY PLC
ENI ENI S.P.A.
PXT PAREX RESOURCES INC.
ALVOF ALVOPETRO ENERGY LTD
PEN PANORO ENERGY ASA
SNM SHAMARAN PETROLEUM CORP.
VLE VALEURA ENERGY INC.
EME EMPYREAN ENERGY
DNO DNO ASA CLASS A
XOM EXXON MOBIL CORPORATION
FEC FRONTERA ENERGY CORP
KOS KOSMOS ENERGY LTD.
ORC/B ORCA EXPLORATION GROUP CL B
HBR HARBOUR ENERGY PLC
PRD PREDATOR OIL & GAS HOLDINGS PLC
PLSR CN PULSAR HELIUM INC.
ADX ADX ENERGY LTD
CNECN CANACOL
- Martin Huseby Karlsen
ExxonMobil Announces Third-Quarter 2024 Results
SPRING, Texas--(BUSINESS WIRE)-- Exxon Mobil Corporation (NYSE:XOM): Results Summary 3Q24 2Q24 Change vs 2Q24 Dollars in millions (except per share data) YTD 2024 YTD 2023 Change vs YTD 2023 8,610 9,240 -630 Earnings (U.S. GAAP) 26,070 28,380 -2,310 8,610 9,240 -630 Earnings Excluding Identified Items (non-GAAP) 26,070 28,609 -2,539 1.92 2.14 -0.22 Earnings Per Common Share 4 6.12 6.98 -0.86 1.92 2.14 -0...
- ABGSC Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Stian Wibstad
Transocean Ltd. Reports Third Quarter 2024 Results
Transocean Ltd. Reports Third Quarter 2024 Results Three months ended Three months ended September 30, June 30, sequential September 30, year-over-year 2024 2024 change 2023 change(In millions, except per share amounts, percentages and backlog) Contract drilling revenues$948 $861 $87 $713 $235 Adjusted contract drilling revenues$948 $861 $87 $721 $227 Revenue efficiency (1) 94.5 % 96.9 % 95.4 % Operating and maintenance expense$563 $534 $29 $524 $39 Net loss attributable to controlling interest$(494) $(123) $(371) $(2...
- Martin Huseby Karlsen
Transocean (Buy, TP: USD5.50) - Better positioned than peers
Despite increased uncertainty in the deepwater market, Transocean remains better positioned than peers for the coming years due to its high-quality fleet and service offering, backlog coverage and solid commercial capabilities. Due to these factors, and less downside to consensus than peers, we believe it deserves a premium valuation. We reiterate our BUY and USD5.5 target price.
- Martin Huseby Karlsen
- Martin Huseby Karlsen
Pemex effect looks to be limited for now
Following uncertainty yesterday related to Pemex’s 2024 budget cuts and potential reduction in rig count, we understand that the initial effect looks to be limited to a handful of rigs (potentially four) for a short period only. Affected rigs look to be locally owned units, which suggest that international contractors (Borr Drilling and Paratus Energy) are not affected. Hence, we now see a scenario with less-direct effect for international contractors than feared by the capital market yesterday....
Transocean Ltd. Announces Third Quarter 2024 Earnings Release Date
Transocean Ltd. Announces Third Quarter 2024 Earnings Release Date STEINHAUSEN, Switzerland, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the third quarter 2024 on Wednesday, October 30, 2024. The company will conduct a teleconference to discuss the results starting at 9 a.m. EDT, 2 p.m. CET, on Thursday, October 31, 2024. Individuals who wish to participate should dial approximately 15 minutes prior to the scheduled start time and refer to conference code 827284. The teleconference will be simulcast in a listen-only mo...
ExxonMobil to Release Third Quarter 2024 Financial Results
SPRING, Texas--(BUSINESS WIRE)-- Exxon Mobil Corporation (NYSE: XOM) will release its third quarter 2024 financial results on Friday, November 1, 2024. The company will issue a press release via Business Wire that will be available at 5:30 a.m. CT at . Darren Woods, Chairman and Chief Executive Officer; Kathy Mikells, Senior Vice President and Chief Financial Officer; and Jim Chapman, Vice President, Treasurer and Investor Relations, will review the results during a live conference call at 8:30 a.m. CT. The presentation will be accessible via or by calling (877) 400-0505 (Toll-free) or (786)...
- Martin Huseby Karlsen
Jackup uncertainty building
With reports of Pemex budget cuts and potential rig suspensions, additional uncertainty is added to the jackup market. The overhang from two rounds of Saudi Aramco suspensions (totalling 28 rigs, c6% of global supply) have been slow to absorb, and are likely to persist through 2025. With looming risk of even more Aramco suspensions, and rigs possibly being released in Mexico, we see a continued high competitive environment on new tenders. Dayrates for most premium jobs are cUSD120k–130k (a tad b...
- Martin Huseby Karlsen
Pemex saving plans add to jackup uncertainty
Several news reports suggest Pemex plans to cut USD1.4bn from its E&P budget this year. As the budget reduction is aimed at drilling, among others, we see a risk of jackup suspension. Pemex has 26 jackups chartered from contractors, with Borr Drilling and Paratus (through Fontis Energy) having most exposure with five rigs each, and such rigs representing 18% and 41% of 2025e EBITDA. The duration of suspensions appears unclear for now; while savings are limited to this year’s budget, reports sugg...
- Martin Huseby Karlsen
- Stephane Foucaud
AUCTUS ON FRIDAY - 18/10/2024
We have launched our new website with a revamped research portal – Home | Auctus Advisors. We’d be very interested to receive any feedback you may have. AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; Target price C$0.35 per share: Encouraging drilling results. Decreasing opex – Production to date in October is 950 bbl/d, the same level as reported on 24 September. The MGH-43 well has encountered 41 m of prospective gross sand intervals with good to exc...
GALP GALP ENERGIA SGPS SA CLASS B
EOG EUROPA OIL & GAS (HOLDINGS) PLC
MSMN MOSMAN OIL AND GAS
RKH ROCKHOPPER EXPLORATION
TRP TOWER RESOURCES PLC
UJO UNION JACK OIL
XOM EXXON MOBIL CORPORATION
ZPHR ZEPHYR ENERGY
TAO TAG OIL LTD
TRIN TRINITY EXPLORATION & PRODUCTION
WDS WOODSIDE PETROLEUM LTD
CEQ CRITERIUM ENERGY LTD.
PLSR CN PULSAR HELIUM INC.
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