Core Insights - The article discusses the oversupply of crude oil leading to prices dropping into the low-sixties range and examines how major oil companies are responding to this situation [1] - It highlights the potential shift in focus towards natural gas as the next investment opportunity for energy producers [1] Group 1: Crude Oil Market - The current oversupply in the crude oil market is driving prices down into the low-sixties [1] - Major oil companies are adapting their strategies in response to the declining crude oil prices [1] Group 2: Natural Gas Investment - Natural gas is identified as a potential focal point for investment among energy producers moving forward [1]

January WTI crude oil (CLF26) today is up +0.41 (+0.69%), and January RBOB gasoline (RBF26) is up +0.0093 (+0.51%). Crude oil and gasoline prices are moving higher today, with crude oil posting a 2-week high.  Crude prices are supported by the prospects for the war in Ukraine to continue, which will keep sanctions on Russian energy exports in place, after US-Russian talks failed to reach a breakthrough in ending the war.  Today's rally in the S&P 500 to a 5-week high is also supportive of crude prices, as ...

Core Viewpoint - Chevron is set to participate in Nigeria's upcoming oil licensing round and plans to deploy a drilling rig by late 2026 to expand its operations in Africa's leading energy producer [1] Company Actions - Chevron will engage in Nigeria's next oil licensing round [1] - The company intends to deploy a drilling rig in late 2026 [1] Industry Context - Nigeria is recognized as Africa's top energy producer [1]

Core Viewpoint - Chevron Corporation has approved the Final Investment Decision for the Gorgon Stage 3 project, which is expected to enhance gas supply and support LNG exports from Western Australia [1][5]. Project Details - The Gorgon Stage 3 project has a budget of AU$3 billion (approximately $2 billion) and will connect the Geryon and Eurytion gas fields to existing subsea infrastructure and Barrow Island processing facilities [2][3]. - This project will include the addition of three subsea manifolds, a 35-kilometre production flowline, and the drilling of six wells in waters approximately 1,300 meters deep [3]. Production Capacity - The Gorgon facility can supply up to 300 terajoules of gas per day and produce 15.6 million tonnes of LNG annually, contributing significantly to the Western Australian market [4]. Management Insights - Chevron Australia President Balaji Krishnamurthy emphasized that the project will sustain output at Gorgon, ensuring long-term domestic gas supply and supporting LNG exports to Asia [5]. - The development of the Geryon and Eurytion fields will enhance gas supply reliability and maintain thousands of skilled jobs in Australia [6]. Financial Outlook - Chevron expects an organic capital expenditure range of $18–$19 billion for consolidated subsidiaries in 2026, with upstream investments around $17 billion [6]. - Nearly $6 billion of the upstream investment will be allocated to U.S. shale and tight plays in the Permian, DJ, and Bakken basins, supporting U.S. production of over two million barrels of oil equivalent per day [7].

Core Insights - Chevron Corporation and its partners have sanctioned the $2 billion Gorgon Stage 3 development, crucial for extending the life and output of one of Australia's largest LNG projects [1][8] - The Gorgon Stage 3 project aims to sustain LNG exports and enhance domestic energy security for decades [1] LNG Supply Development - Gorgon Stage 3 will connect the offshore Geryon and Eurytion gas fields to Gorgon's existing facilities on Barrow Island, involving the installation of three subsea manifolds and a 35-kilometre production flowline [2] - The project includes drilling six wells across two offshore fields located approximately 100 kilometers northwest of Barrow Island, in water depths of around 1,300 meters [2] Strategic Importance - Gorgon is one of the world's largest LNG ventures, with a three-train LNG facility capable of producing 15.6 million tons annually and a domestic gas plant supplying 300 terajoules per day [4] - The project is expected to have a lifespan of over 40 years, contributing significantly to Australia's economy by providing reliable energy [4] - The Stage 3 project will ensure continued supply to existing LNG trains and the domestic gas plant through the addition of new wells and subsea infrastructure [4] Regulatory and Ownership Structure - The Stage 3 project received regulatory acceptance in November 2024 after public consultation [5] - Gorgon is operated by Chevron (47.3%) and jointly owned by ExxonMobil (25%) and Shell (25%), with Osaka Gas, JERA, and MidOcean holding the remaining stake [5]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Core Insights - Argentina's state-run oil company YPF, along with Vista, Shell Argentina, and Equinor, has entered into an agreement with Chile's national oil company ENAP for the export of shale oil from the Vaca Muerta formation [1] Company Summary - YPF is collaborating with other oil firms to enhance shale oil exports, indicating a strategic move to leverage the resources of the Vaca Muerta formation [1] - The partnership with ENAP signifies a cross-border cooperation aimed at expanding market access for Argentine shale oil [1] Industry Summary - The deal reflects the growing importance of shale oil in the South American energy landscape, particularly in Argentina, which is known for its significant shale reserves [1] - This collaboration may lead to increased investment and development in the shale oil sector, potentially boosting production and export capabilities [1]

About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

Core Viewpoint - Diversified Energy Company PLC (DEC) is positioned for potential growth, with a price target set at $23, indicating a possible increase of approximately 50.13% from its current price of $15.32 [1][5]. Company Overview - DEC is a UK-based energy company focused on the production and distribution of natural gas and oil [1]. - The company has a market capitalization of approximately $1.19 billion, making it a significant player in the energy sector [4]. Stock Performance - DEC's current stock price is $15.32, reflecting a slight increase of $0.13, or 0.86%, from the previous session [3]. - Over the past year, DEC's stock has fluctuated between a high of $17.70 and a low of $10.08, indicating both growth potential and volatility [4][5]. - Today's trading volume for DEC is 996,698 shares, suggesting active investor interest and potential market confidence [4]. Investor Activity - Ameriprise Financial, Inc. has increased its holdings in DEC, which may influence voting rights and market perceptions [2][5].

Core Viewpoint - ConocoPhillips is a significant player in the oil and gas industry, actively enhancing its portfolio since late 2020, which has positively influenced its stock performance [1][5] Company Performance - The stock of ConocoPhillips has underperformed the market over the past one- and three-year periods, despite offering an attractive dividend yield of 3.5% [2][5] - The current stock price is $93.12, reflecting a daily increase of 1.31, or 1.43% [3] - The stock has experienced volatility, with a one-year high of $106.20 and a low of $79.88 [3] Market Position - ConocoPhillips has a market capitalization of approximately $116 billion, indicating its significant presence in the oil and gas sector [4][5] - The trading volume for the day is 6,468,627 shares on the NYSE, demonstrating active investor interest [4] Price Target - Johnson Rice has set a price target of $105 for ConocoPhillips, suggesting a potential increase of 12.76% from its current price [1][5]