Capital Budget Annoucements News

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Lightsource BP Secures $1.8B Credit Facility
Wednesday, September 22, 2021Lightsource bp has secured a new $1.8 billion revolving credit facility and trade finance facility.

Diamondback Rises After Accelerating Returns
Friday, September 17, 2021Diamondback Energy Inc. rose in after-hours trading after pledging to accelerate cash returns to shareholders in the fourth quarter.

Gunvor to Tap Bond Market for First Time Since 2013
Thursday, September 16, 2021Gunvor Group Ltd. is seeking a return to the bond market for the first time in eight years.

Western Gas Partners Up To Drill Sasanof-1 Well Off Australia
Wednesday, September 08, 2021Western Gas partners up to fund part of the drilling costs for the Sasanof-1 exploration well offshore Australia.

ADNOC To Offer Drilling Unit Stake In IPO
Wednesday, September 08, 2021ADNOC is planning on selling a stake in its drilling company ADNOC Drilling in an initial public offering.

Mexico Refinancing Pemex Debt
Tuesday, September 07, 2021Mexico has begun a process of refinancing state-owned Petroleos Mexicanos's debt, after the nation received a transfer of about $12 billion from the International Monetary Fund.

Seadrill Limited To Exit Chapter 11 In Q4
Monday, September 06, 2021Seadrill Limited to soon emerge from Chapter 11 following court approval of its disclosure statement for the reorganization plan.

Shale Prudence Wins Over Debt Market
Tuesday, August 10, 2021Shale drillers racked up a staggering $42 billion in new debt in the first half of the year, but it's not what you think.

Aramco Chemicals Deal Shows Signs of Paying Off
Monday, August 09, 2021Saudi Aramco's decision to buy chemicals maker Sabic, which led its debt levels to burst through a self-imposed borrowing target, is now showing signs of paying off.

Saudi Aramco Profit Surges
Monday, August 09, 2021Saudi Aramco followed its Big Oil competitors with bumper earnings, boosted by a recovery in oil and chemical prices.

USA Shale Producers Stay Disciplined
Friday, August 06, 2021U.S. shale producers are remaining disciplined with production and capital guidance despite high oil prices, according to GlobalData.

Petrobras Earnings Jump Triggers Upgrades
Thursday, August 05, 2021Brazil's state-controlled oil company saw its earnings surge in the second quarter, triggering upgrades and a rally in premarket trading.

ConocoPhillips Posts Highest Profit Since 2018
Tuesday, August 03, 2021ConocoPhillips beat estimates as rising commodity prices led America's biggest independent oil producer to the highest profit in nearly three years.

BP Increases Buybacks and Dividend
Tuesday, August 03, 2021BP Plc followed its Big Oil peers by increasing dividends and share buybacks as higher crude prices boosted profit.

Exxon Posts Highest Profit in More Than 2 Years
Friday, July 30, 2021Exxon Mobil Corp. posted the highest profit in two years as prices for commodities and chemicals surged amid strong consumer demand for plastics.

Chevron Revives Buyback of Up to $3B
Friday, July 30, 2021Chevron Corp. is reviving share buybacks that were suspended more than a year ago.

Eni Delivers Exceptional Results
Friday, July 30, 2021Eni delivered exceptional results in the second quarter of the year, according to the company's chief executive officer.

Shell Hikes Dividend and Starts $2B Share Buyback
Thursday, July 29, 2021Royal Dutch Shell raised its dividend by almost 40 percent and said it will buy back $2 billion of shares.

Big Oil Shows Confidence That Big Profits Era Is Back
Thursday, July 29, 2021Europe's largest oil and gas companies showed confidence that the era of big profits is back by significantly boosting returns to shareholders.

Fairfield Decom to Cease Trading
Monday, July 12, 2021Fairfield Decom has confirmed that it will cease trading in a statement posted on its website.

Qatar Petroleum Raises $12B+ in Bond Offering
Monday, July 05, 2021Qatar Petroleum has announced that it has raised $12.5 billion in a multi-tranche bond offering.

Gulf Coast Refiner May Spend $550MM on Idled Unit
Friday, June 25, 2021Economic development agency states the project would allow the facility to retain 516 jobs.

Exxon Projects to Help Retain 1,300 Louisiana Refinery Jobs
Thursday, June 10, 2021ExxonMobil will advance more than $240 million in capital improvements at its Baton Rouge Refinery, visible in the background of this photo.

N-Sea Offshore Ltd Appoints Administrators
Friday, May 28, 2021Aberdeen based N-Sea Offshore Ltd is appointing administrators to take control of the company, a statement on the company's website has revealed.

Gulf of Mexico Fatality and More
Saturday, May 22, 2021Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

The Renewables vs Oil Spend of Majors
Wednesday, May 19, 2021How much will the majors pump into renewables and oil and gas over the next few decades?

ConocoPhillips Plans 25% Debt Reduction
Tuesday, May 04, 2021The plan would essentially bring COP's debt pile back to the pre-Concho acquisition level.

Exxon Earns $2.7B in First Quarter
Monday, May 03, 2021Exxon Mobil Corporation (NYSE: XOM) has announced estimated first quarter 2021 earnings of $2.7 billion.

Chevron Posts Bumper Cash Flow
Friday, April 30, 2021Chevron Corp. generated the most free cash flow since the pandemic emerged as economies clawing their way out of more than a year of lockdowns and paralysis burn more fuel.

Valaris Looks Forward to Soon Emerging from Chapter 11
Thursday, April 29, 2021Valaris' Chief Executive Officer and President, Tom Burke, outlined in the company's first quarter results statement that the business looks forward to 'soon emerging' from Chapter 11.

Total Profit up to Pre-Pandemic Levels
Thursday, April 29, 2021Total SE's profit surged by more than expected in the first quarter, making it the latest oil major to see earnings return to pre-pandemic levels.

Shell Profit Surges More Than Expected
Thursday, April 29, 2021Royal Dutch Shell Plc took the opportunity to pay down its heavy debt burden as profit surged by more than expected in the first quarter.

Big Oil Sees Cash Rolling In
Monday, April 26, 2021After one of the most difficult years in the oil industry's history, crude prices have recovered and major producers are finally generating spare cash.

Petrofac Agrees $700MM Facility Extensions
Thursday, April 08, 2021Petrofac announced Wednesday that it has extended $700 million of its banking facilities, at its request, with the unanimous support of lenders.

BP Reaches Debt Goal Early
Tuesday, April 06, 2021BP Plc said it already achieved its $35 billion net-debt target, reaching the threshold at which it has said it can restart share buybacks about a year earlier than expected.

Aramco Up as Saudis Prioritize Spend Over Dividend
Wednesday, March 31, 2021Saudi Aramco rose the most in 10 months in Riyadh trading after the government allowed it to cut dividends and redirect the cash into new investments to fulfill the crown prince's economic plans.

PetroChina Claims World's Top Spot for Capex
Friday, March 26, 2021China's fear of dependence on foreign suppliers means its biggest oil company plans to be the world's top-spending driller this year.

ConocoPhillips Restores Stock Buybacks
Wednesday, March 10, 2021Conoco said the buybacks reflect its target of returning in excess of 30% of cash from operations to shareholders each year.

Chevron CEO Reveals Permian Surprise
Tuesday, March 09, 2021Chief Executive Officer Mike Wirth surprised investors by restoring the million-barrel Permian target.

ExxonMobil Seeks Minimum 30% Returns on New Projects
Wednesday, March 03, 2021ExxonMobil outlined a target to achieve returns of least 30% on new projects after reducing capital spending plans.

International Oil Cos Primed for V-Shape Recovery
Friday, February 26, 2021International oil companies are primed for a V-shaped recovery in free cash flow and may generate record figures this year if oil prices average $55 a barrel, according to Wood Mackenzie.

Big Oil Posts Record Loss in 2020
Tuesday, February 23, 2021The five integrated supermajors – ExxonMobil (NYSE: XOM), BP (NYSE: BP), Shell (NYSE: RDS.A), Chevron (NYSE: CVX), and Total (NYSE: TOT) – posted a combined record loss of $76 billion in 2020.

Eni Reports Surprise Quarterly Profit
Friday, February 19, 2021Eni SpA posted a surprise fourth-quarter profit as crude prices began to recover and the contribution of low-carbon businesses helped offset the impact of the coronavirus pandemic.

Chesapeake Energy Emerges from Chapter 11
Thursday, February 11, 2021Chesapeake Energy Corporation (NASDAQ: CHK) has announced that it has successfully concluded its restructuring process and emerged from Chapter 11.

NOC Spending Plans Clash with Paris Accord Targets
Tuesday, February 09, 2021A US-based think-tank contends that billions in NOC projects will only be profitable if emissions targets are missed.

Total Beats Earnings Estimates
Tuesday, February 09, 2021Total SE bucked the trend of a disappointing fourth quarter for Big Oil, reporting earnings that exceeded expectations and pledging more cash for cleaner energy.

Shell Deepens Big Oil Disappointment
Thursday, February 04, 2021Royal Dutch Shell Plc deepened the disappointment of Big Oil's fourth quarter, reporting net income that fell short of expectations and weak cash flow.

Big Oil Has Barely Begun Covid Recovery
Tuesday, February 02, 2021BP Plc offered more evidence that Big Oil has barely begun to heal the wounds from last year's historic slump.

2020 is Arguably Worst Year for American Oil Sector
Wednesday, January 27, 2021Last year was arguably the most devastating year in history for the North American oil and gas industry.

Diamond Offshore Announces Restructuring Plan
Tuesday, January 26, 2021Diamond Offshore Drilling enters into a deal with holders of over 70 percent of each of its senior unsecured notes and revolving credit facility loans regarding a financial restructuring transaction.