Key Takeaways SM Energy is benefiting from strong financial performance driven by oil-weighted production growth. Uinta Basin integration led to a 63% jump in daily oil output and exceeded drilling efficiency expectations. SM is using free cash flow to cut debt, even at $55 oil, but lags peers in dividend yield.SM Energy (SM) is an independent exploration and production firm, with its operations focused on the Permian Basin, Uinta Basin and South Texas region. SM Energy owns approximately 111,000 net acre ...

Key Takeaways Ecopetrol acquired the Windpeshi wind project from Enel S.p.A. for a total of $50 million. The 205MW project will supply about 1,006 GWh annually, equal to 8%-9% of EC's energy needs. EC expects to start development before year-end 2025 and begin commercial operations by 2028.Ecopetrol S.A. (EC) , a Colombian majority state-owned energy company, has recently acquired a wind power project from Enel S.p.A. for a total consideration of $50 million. The wind power project, named the Windpeshi pr ...

Key Takeaways E signed a 30-year production sharing contract with Sonatrach for Algeria's Zemoul El Kbar region. The $1.35B deal targets 415M barrels of oil equivalent, including 9.3B cubic meters of gas. Eni and Sonatrach also plan joint gas, LNG, hydrogen, and renewable energy initiatives.Eni S.p.A. (E) , an Italian integrated energy company, has signed a production sharing contract (PSC) with Algeria’s state-owned energy firm, Sonatrach. The PSC involves the exploration and development activities in th ...

Core Insights - Shell plc has provided an update on its second-quarter outlook for its integrated gas division and LNG production, indicating expectations of weaker results compared to the previous quarter [1][5] Integrated Gas Division - Shell has lowered its production guidance for the integrated gas division to a range of 900,000-940,000 barrels of oil equivalent per day (boe/d), down from the previously announced range of 890,000-950,000 boe/d [2][10] - LNG production guidance has also been revised to an expected range of 6.4-6.8 million metric tons, compared to the earlier range of 6.3-6.9 million tons [2][10] - Weaker gas trading results are anticipated compared to the first quarter [2][10] Marketing Division - In the marketing division, Shell expects second-quarter sales volumes to increase, with anticipated sales volumes in the range of 2.6-3 million barrels per day (bpd), slightly lower than prior expectations of 2.6-3.1 million bpd [3] Chemicals Division - The chemicals division is expected to incur a loss in the second quarter, with a utilization rate projected between 68% and 72%, significantly down from 81% in the first quarter [4] - Unplanned maintenance at the Monaca plant has negatively impacted chemical utilization [4] Overall Expectations - Shell anticipates weaker results in the second quarter, particularly in the Integrated Gas and Chemicals & Products divisions [5] - The company expects exploration well write-offs in the upstream division to be approximately $200 million [5]

Key Takeaways E completed Zohr 6 drilling, adding 60M cubic feet/day to Egypt's natural gas production capacity. Zohr 13 is expected to add 55M cubic feet/day as E continues to expand production at the offshore site. E targets 3.2B cubic feet/day by end-2025 and plans two more Zohr wells with a $360M investment in 2026.Eni S.p.A (E) has concluded drilling activities for a well at the Zohr gas field, located off the coast of Egypt. The drilling assignment was carried out by the Saipem 10000 drillship, whic ...

Key Takeaways EQNR's Zacks Rank & Key Picks EQNR currently carries a Zacks Rank #3 (Hold). New Discovery at the Barents Sea The exploration well, 7720/7-DD-1H, was drilled in the Drivis Tubåen prospect of the Johan Castberg field. The Johan Castberg field lies within the production license (PL) 532. Per the Norwegian Offshore Directorate, this exploratory well is the 14 one drilled within PL 532. It was drilled as an exploratory extension from another producing well. The new discovery will add to the existi ...

Key Takeaways COP confirmed the Slagugle discovery in PL 891 with its second appraisal well, 6507/5-12S. The well hit multiple oil columns in an interval of 188 meters with strong flow rates. Slagugle may hold up to 61.6M barrels; further data analysis will determine development plans.ConocoPhillips (COP) , a global exploration and production firm, has confirmed the Slagugle oil discovery in the Norwegian Sea. The company had drilled a second appraisal well, 6507/5-12 S, in production license (PL) 891, op ...

Core Insights - Equinor ASA has received approval from the Norwegian Offshore Directorate to drill a wildcat well in the Barents Sea, specifically wellbore 7117/4-1, which is part of Production License 1238 [1][7] - The company holds a 40% working interest in the license, with partners Vår Energi, Petoro, and Aker BP each holding a 20% interest [1][7] - The drilling will be conducted using the COSL Prospector rig, which is capable of operating in harsh environments and can drill at water depths of up to 1500 meters and a maximum depth of 7,500 meters [2] Company Rankings and Comparisons - Equinor currently holds a Zacks Rank of 3 (Hold) [3] - Other energy sector companies with better rankings include Flotek Industries (Zacks Rank 1), Oceaneering International, and RPC, both with Zacks Rank 2 [3] - Flotek Industries focuses on green chemistry solutions to reduce environmental impact and operational costs for energy producers [4] - Oceaneering International provides integrated technology solutions across the offshore oilfield lifecycle, supporting revenue growth through innovative solutions [5] - RPC offers a diverse range of oilfield services and is committed to returning value to shareholders through dividends and share buybacks [6]

Core Insights - Imperial Oil Ltd. has identified a small diesel leak from its dock in Ontario, which has leaked into the Saint Clair River, and the company has taken measures to contain the spillage [1][8] Containment and Cleanup Efforts - Containment booms were deployed in the river to limit the damage caused by the leakage, and the source of the leak was promptly identified and stopped [2][8] - Cleanup efforts are currently underway, and precautionary water quality checks downstream indicate no significant levels of hydrocarbons have been detected [3]

Key Takeaways RIG lands a contract extension from EQNR for its Spitsbergen rig on the Norwegian Continental Shelf. The extension adds $100M to RIG's backlog, building on its previously reported $7.9B as of April 2025. Transocean Spitsbergen can drill 30,000 feet and operate in harsh, deepwater environments up to 10,000 feet.Transocean Inc. (RIG) , a leading global offshore drilling contractor, has won a contract extension for its semi-submersible rig, Transocean Spitsbergen, offshore Norway. Equinor ASA ( ...