Hints and tips:
...Oil producers hedge prices in futures and other derivatives markets to guard against price drops and ensure they have cash to fund drilling, debt payments and other expenses....
...The UK’s previous adherence to green energy policies has taken a heavy toll on UK-focused oil and gas companies....
...Many an old economy company has tried to rebrand itself as a modern tech upstart, with mixed success. But for Denbury the plan seems to be working....
...Biden has accused the companies of “war-profiteering”....
...Despite soaring oil and gas prices, it seems energy companies are not drilling....
...Oil people like cash well enough — but they really like drilling wells....
...Analysts said the move could free Continental to do what public producers have for months been told by Wall Street not to: fire up drilling rigs to capitalise on a surge in oil prices to well above $100...
...Cost inflation stemming from supply chain and labour constraints are also deterring companies from more drilling....
...While the 2020 oil crash hit Occidental hard, forcing it to cut its dividend and rein in drilling plans, it has been one of the stars of the recovery, as months of capital discipline and rising oil prices...
...The drilling programme could last until 2026 with the necessary regulatory approvals, the company said....
...But even if a fund is heavy on tech, it’s still worth drilling down to see what sort of tech companies it holds. Take Liontrust Sustainable Future Global Growth, a UK-domiciled fund....
...Mining’s digital drill-downA group of investors is drilling digital disruption into the $1.6tn global mining industry....
...“We have advocated for industry consolidation as there are too many undersized and irrelevant companies drilling shale wells,” said Mark Viviano, head of public equities at Kimmeridge, which has built up...
...Chesapeake grew famous more than a decade ago as it spearheaded the shale revolution, amassing a huge drilling position through debt-fuelled acquisitions that for a while made the company the second-biggest...
...Biden officials said there was nothing stopping drillers from drilling. Both agreed on another guilty party: Wall Street....
...Enbridge, the Canadian pipeline company, is betting on sustained strength in US energy production with a $3bn purchase of assets including a crude oil export terminal in Texas that is North America’s largest...
...For BP, which owns half of Lightsource BP, Bighorn underlines the company’s strategic shift into clean energy, said David Lawler, head of the UK oil company’s operations in the US....
...But when the chief executive of a US oil drilling company was told by The North Face that he could not put his company’s logo on their jackets, he took the fight public in a passionate open letter defending...
...Houston’s Diamond Offshore Drilling filed for bankruptcy on Sunday with debts of more than $2.6bn, blaming the “unprecedented” impact of an oil price war and the coronavirus pandemic....
...This week’s news from Biden on drilling indicates the green direction of his administration. So, as the boom intensifies, two key questions arise. Can financiers avoid another bubble?...
...Job moves The head of oil group Equinor’s drilling operations Anders Opedal will take over as chief executive of the Norwegian company in November, replacing Eldar Saetre....
...Ian McIntosh, the chief executive of Louis Dreyfus Company, is retiring from the agricultural trading company less than two years after taking the position....
...Strongbow Exploration, a Canadian company that owns the mineral rights to the area drilled by Cornish Lithium, said it would carry out further drilling to “confirm the true width” and extent of the deposit...
...The rise was driven by more US shale drilling....
...For US oil production, there should be little in the former vice-president’s proposals to frighten the better-run companies in the shale patch....
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