Chevron Corporation (NYSE: CVX) announced that Kevin McLachlan will assume the role of Vice President of Exploration, overseeing the company’s worldwide exploration portfolio from Houston. McLachlan will succeed Liz Schwarze, who will retire in February 2026 after more than three decades at Chevron. The appointment marks a significant leadership transition within Chevron’s upstream division. McLachlan brings more than 30 years of international experience in exploration, production, and carbon management, ...

Group 1: Acquisition Details - California Resources Corp. (CRC) plans to acquire Berry Corp. in an all-stock deal valued at $717 million, with Berry shareholders receiving a 15% premium on their shares [1][2] - The merger has been approved by the boards of both companies and is expected to close in the first quarter of 2026, pending shareholder and regulatory approvals [1] Group 2: Company Performance and Synergies - CRC has undergone a significant turnaround, exiting bankruptcy in 2020 with $5 billion of debt erased and restoring profitability, followed by the acquisition of Aera Energy for $2.1 billion [2] - The combined company is projected to produce approximately 161,000 barrels of oil equivalent per day (boe/d) in Q2, with about 81% being oil [2] - CRC anticipates annual synergies of $80–90 million from the merger, representing about 12% of the deal value, primarily from overlapping corporate functions and operational efficiencies [3] Group 3: Regulatory Environment - Recent legislation in Kern County, including SB 237, allows for the approval of up to 2,000 new drilling permits annually, a significant increase from only 84 permits issued in 2024 [4] - Another bill, SB 614, aims to lift the moratorium on CO2 pipelines, which supports CRC's Carbon Terra Vault joint venture, crucial for scaling its carbon management business [4]

All right, let's talk a bit about this. So, we we see what the president's push is against renewable energy. However, you operate on state lands in California. You don't really operate on federal land.So, does this have an impact on your business, at least when it comes to sentiment, >> Frank. No, no impact. We we see ourselves as a different kind of energy company and we do both uh renewable clean energy and traditional oil and gas.Uh we we are the largest producer of oil in California. also the largest pr ...

Core Viewpoint - U.S. Energy Corporation is advancing its transformation into an integrated industrial gas company, focusing on the development of its Kevin Dome asset, which has significant potential for helium and CO₂ resources [2][3][5]. Financial and Operational Results - For the second quarter of 2025, U.S. Energy reported total hydrocarbon production of approximately 48,816 BOE, with oil production accounting for 69% [14]. - Total oil and gas sales for the quarter were approximately $2.0 million, a decrease from $6.1 million in the same quarter of 2024, primarily due to divestitures and declining oil prices [14]. - The company reported a net loss of $6.1 million, or a loss of $0.19 per diluted share, compared to a net loss of $1.97 million in the same quarter of 2024 [17][25]. Resource Report - An industrial gas resource report confirmed U.S. Energy controls 1.28 billion cubic feet (BCF) of net helium resources and 443.8 BCF of net CO₂ resources at the Kevin Dome [3][4]. Upstream Development - The company successfully drilled two additional industrial gas wells, bringing the total to three, with a combined peak production rate of 12.2 MMcf/d [6][7]. - The wells have a premium gas composition of 0.47% helium and 85.2% CO₂, indicating strong marketability and revenue potential [6]. Infrastructure and Carbon Management - The design and planning of the initial processing facility are advancing, with construction expected to start soon, projected to generate first revenues in the first half of 2026 [2][12]. - The company achieved sustained injection of 17.0 MMcf/d across two wells, equating to an annual sequestration capacity of approximately 240,000 metric tons of CO₂ [12]. Balance Sheet and Liquidity - U.S. Energy remained entirely debt-free as of June 30, 2025, with approximately $26.7 million in available liquidity [10][11]. - The company’s cash balance decreased from $7.7 million at the end of 2024 to $6.7 million by mid-2025 [11][23]. Future Outlook - The company is targeting high-margin recovery of CO₂, helium, and natural gas from existing production, with capital deployment expected to begin in Q3 2025 [12]. - The next phase of upstream growth is planned for 2026, focusing on monetization opportunities and infrastructure build-out [12].

Core Viewpoint - Occidental announced its second quarter 2025 financial results, with details available on its Investor Relations website and the SEC's website [1] Group 1: Financial Results - The company will hold a conference call on August 7, 2025, to discuss the financial results, accessible via phone or webcast [2] Group 2: Company Overview - Occidental is an international energy company with significant assets in the U.S., Middle East, and North Africa, being one of the largest oil and gas producers in the U.S. [3] - The company operates in the Permian and DJ basins and offshore Gulf of America, with a midstream and marketing segment that enhances the value of its oil and gas [3] - Occidental's Oxy Low Carbon Ventures subsidiary focuses on advancing technologies that promote business growth while reducing emissions [3] - The chemical subsidiary, OxyChem, manufactures essential products, and the company is committed to carbon management for a lower-carbon future [3]

Core Viewpoint - Jacobs, in partnership with AtkinsRéalis, has been awarded a contract by England's National Highways to provide engineering and technical services under a new framework valued at up to $680 million (£495 million) over six years, aimed at enhancing road infrastructure and sustainability [1][3][4]. Group 1: Framework Details - The new Specialist Professional and Technical Services Framework (SPaTS3) builds on previous frameworks, allowing National Highways to access advanced technical and engineering capabilities to support England's Roads Investment Strategy [2][3]. - The framework includes six suppliers, with Jacobs and AtkinsRéalis being a key joint venture, providing services such as strategic transport planning, transport modeling, engineering, and sustainability [3][4]. Group 2: Strategic Importance - Jacobs emphasizes that resilient, low-carbon road infrastructure is essential for England's long-term economic growth and community connectivity [4]. - The joint venture aims to leverage its extensive experience and supply chain to drive innovation and efficiency in road infrastructure projects [4]. Group 3: Innovation and Sustainability - Jacobs and AtkinsRéalis have a history of successful collaboration through previous SPaTS frameworks, focusing on innovative solutions like the "Structures Moonshot" project for bridge monitoring and trials of graphene-enhanced asphalt [4][5]. - The joint venture is also recognized for its commitment to carbon management in infrastructure, having achieved PAS 2080:2023 verification [5].

Core Viewpoint - Occidental will announce its second quarter 2025 financial results on August 6, 2025, and will hold a conference call on August 7, 2025, to discuss these results [1][2]. Company Overview - Occidental is an international energy company with significant assets in the United States, the Middle East, and North Africa, and is one of the largest oil and gas producers in the U.S. [3] - The company is a leading producer in the Permian and DJ basins, as well as offshore in the Gulf of America [3]. - Occidental's midstream and marketing segment focuses on flow assurance and maximizing the value of oil and gas, including its Oxy Low Carbon Ventures subsidiary, which aims to reduce emissions while growing the business [3]. - The chemical subsidiary, OxyChem, manufactures essential building blocks for life-enhancing products [3]. - The company is committed to leveraging its leadership in carbon management to promote a lower-carbon world [3].