BP: boosts dividend (by a relatively small amount, 2.4%); will stop share buyback program (saying they have completed their $1.5 billion share buyback plan). Company reported a 26% drop in 4Q19 profit, but that beat forecasts. Cash flow rose by more than 10 percent in 2019 to $25 billion despite lower commodity prices. But this was due to result of higher production, particularly in US shale following the acquisition of BHP. Comment: at best, I call that a very, very mixed report.
#1 story over at Rigzone: (previously posted) - that huge gas discovery over in the Mideast.
And, of course:
That cold weather, and snow? It will arrive starting tonight and go on through the weekend.
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Back To The Bakken
Active rigs:
$50.95 | 2/4/2020 | 02/04/2019 | 02/04/2018 | 02/04/2017 | 02/04/2016 |
---|---|---|---|---|---|
Active Rigs | 54 | 63 | 58 | 40 | 44 |
Wells coming off the confidential list --
Tuesday, February 4, 2020: 12 for the month; 119 for the quarter, 119 for the year:
- 35447, conf, Lime Rock, Nordloef 4-30-19TFH, 160-90L,
- 35044, conf, XTO, Johnson Trust Federal 21X-6AXD,
- 30188, conf, Oasis, Lewis Federal 5300 11-31 2B,
- 22574, conf, Enerplus, Glacier 148-95-02A-11H TF,
- 35856, drl, XTO, FBIR Bird 21X-19A, Heart Butte,
- 35098, 872, Oasis, Kellogg Federal 5297 12-30 6T, Banks, t9/19; cum 12/19; a 30K month;
- 35047, drl, XTO, Johnson Trust Federal 21X-6EXH-N, Elidah,
- 35885, 817, Liberty Resources, Paige 158-93-19-18-3MBH, East Tioge, t8/19; cum 85K 12/19; a 21K month;
- 35855, drl, XTO, FBIR Bird 21X-19E, Heart Butte,
- 35655, 1,015, Lime Rock Resources, Neal 5-33-28H-144-95L, Murphy Creek, t8/19; cum 62K 12/19;
- 35116, 574, Oasis, Kellogg Federal 5297 11-30 5T, Banks, t8/19; cum 97K 12/19; a 36K month;
- 30189, 548, Oasis, Lewis Federal 5300 11-31 2B, Baker, t8/19; cum 109K 12/19; a 29K month;
- None.
Over the weekend, PBF Energy closed on its acquisition of Shell’s Martinez, CA, refinery, marking the first completed U.S. refinery transaction of 2020. The closure of that deal may seem unremarkable, but it’s rare for more than two to three transactions involving individual refineries to take place in the U.S. in a given year, and there are as many as eight other refineries on the market. These include two each in the Philadelphia area, the Midcontinent and the Rockies, and one each in Washington state and Alaska. Why are so many refineries on the block? Today, we continue our series with a look at the facilities said to be on the market in PADDs 4 and 5.
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