October 22, 2021 archive

Schlumberger’s profits grew with renewed drilling efforts

  Schlumberger announced a third-quarter profit of $550 million on Friday, beating Wall Street estimates as the top oilfield firm capitalized on a rebound in crude prices worldwide. On a per-share basis, the The Hague, Netherlands-based company said it had profit of 39 cents. Earnings, adjusted for non-recurring gains, came to 36 cents per share. …

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Dividend announced by Holly Energy Partners

  Dallas-based Holly Energy Partners, L.P. announced a quarterly dividend. The operator of crude oil terminals in Oklahoma and 7 other states announced a cash distribution of 35 cents per unit for the third quarter of 2021. The distribution will be paid on November 12, 2021 to unitholders of record on November 1, 2021. Holly Energy …

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Headlines of other energy stories

**  Schlumberger followed its rivals in reporting disappointing third-quarter earnings results this week, as the world’s biggest oilfield contractor failed to grow as fast as analysts expected. ** As Democrats try to salvage what’s left of President Joe Biden’s climate policy, U.S. Sen. Joe Manchin signals that he’ll only sign on to wind and solar credits if …

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Minco wind farm included in $824 million acquisition

  NextEra Energy Partners LP’s investments in renewable energy took a nearly billion-dollar leap Friday. The Juno Beach-based subsidiary of NextEra Energy revealed a $824 million agreement to acquire 50% ownership in 13 wind and solar energy sites across Kansas, Texas, Nebraska, Tennessee, Georgia, Oklahoma, New Mexico and Connecticut. The site in Oklahoma is Minco …

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Natural gas rally behind increased sales of Haynesville assets

  With gas futures touching 12 year highs in recent weeks, more companies and land in the Haynesville formation of Northwest Louisiana and East Texas are coming up for sale. Reuters reports private equity firms are looking to make sales in the country’s second-largest natural gas producing formation.   Click here for Reuters.

Cushing oil hub reaching critically low levels?

  A stunning reversal. It’s the picture painted about the stockpile of crude oil at the Cushing oil hub in northern Oklahoma. As OK Energy Today reported, the Cushing hub held 31.2 million barrels as of Oct. 15, a 2.3% drop from the previous week. A year ago, Cushing had 60.4 million barrels in storage …

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