Page 12 - NorthAmOil Week 31 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

POLICY the lowest possible emissions-equivalent improved 1% sequentially to $142 million,
barrels. Our carbon capture and storage joint with a 28% increase in international Fluids
Talos Energy announces venture with Storegga takes this commitment Systems revenues and a 15% improvement
in Industrial Solutions rental and service
a step further and turns our focus toward
second-quarter 2021 results lowering industrial emissions in the revenues offsetting the previously anticipated
communities where we work and live. CCS is
pullback in Industrial Solutions product sales.
Talos Energy today announced its operational a rapidly-growing space that we believe will NEWPARK RESOURCES, August 03, 2021
and financial results for the second quarter of benefit from leveraging our experience with
2021. conventional geology to sequester carbon and
President and chief executive officer a great avenue for us to also apply our offshore MIDSTREAM
Timothy S. Duncan commented: “Our operations skill sets to participate in more
team’s execution in the second quarter was diversified energy solutions.” Williams announces
exceptional. We had record production of over TALOS ENERGY, August 03, 2021
66 MBoe/d for the second quarter in a row as agreement on deepwater
well as very strong Adjusted EBITDA margins
of over $36 per Boe, before the impact of UPSTREAM Whale project
hedges, which speaks to the strength of what
our oil-weighted assets can deliver in the Newpark Resources reports Williams announced today that it has
current commodity environment. The second reached an agreement with Shell Offshore
quarter is typically our most capital intensive second-quarter 2021 results and Chevron USA to provide offshore
quarter as we take advantage of our best natural gas gathering and crude oil
weather offshore, and the projects executed Newpark Resources today announced results transportation services as well as onshore
in the second quarter and early third quarter for its second quarter ended June 30, 2021. natural gas processing services for the Whale
have laid the foundation for the second half Total revenues for the second quarter of 2021 development located approximately 10 miles
of the year and plans for 2022. We recently were $142.2 million compared to $141.2 from the Shell-operated Perdido host facility.
announced the successful Tornado Attic well, million for the first quarter of 2021 and $101.9 Williams plans to expand its existing
which will add solid incremental production million for the second quarter of 2020. Net Gulf of Mexico offshore infrastructure via a
in the third quarter, and we look forward to loss for the second quarter of 2021 was $6.0 25-mile gas lateral pipeline build from the
starting our Pompano rig program in the million, or ($0.07) per share, compared to a Whale platform to the existing Perdido gas
coming weeks as well. We have re-affirmed net loss of $5.4 million, or ($0.06) per share, pipeline and a new 125-mile oil pipeline to the
our operational and financial guidance and for the first quarter of 2021, and a net loss of existing Williams-owned GA-A244 junction
expect meaningful free cash flow generation $26.2 million, or ($0.29) per share, for the platform. The natural gas will be transported
in the second half of the year.” second quarter of 2020. to Williams’ Markham gas processing plant
Duncan continued: “More broadly, I Second quarter 2021 results include a $1.0 located in Matagorda, TX. First production is
also believe the second quarter provided million pre-tax gain in the Industrial Solutions expected to come online in 2024.
a roadmap of our strategic direction as a segment ($0.01 per share after-tax) related “Our asset synergies in the Gulf of Mexico
company with a diversified approach in to a legal settlement as well as $0.6 million of are second to none, and we are pleased to
providing low-cost energy with the lowest pre-tax charges in the Fluids Systems segment strengthen our existing onshore and offshore
possible environmental impact. We want to ($0.01 per share after-tax) related to severance infrastructure to further serve the growing
responsibly grow our hydrocarbons business costs. needs of deepwater producers,” said Micheal
through thoughtful capital allocation of Paul Howes, Newpark’s president and chief Dunn, chief operating officer at Williams.
development projects and high impact executive officer, stated, “Our second quarter “The development of Whale expands
exploration around our infrastructure, as well results reflect another step forward in our Williams’ footprint in the Gulf by contracting
as continuing to look for strategic acquisition strategy execution, as we continue to reshape one of the largest discoveries in the past
targets. However, even as we expand our asset and position the company for sustainable and decade and creating future connection
base, we will continue to focus on producing profitable growth. Consolidated revenues opportunities for producers that will capture
the full value of these important deepwater
resources.”
Williams’ assets in the Gulf of Mexico offer
producers the full value chain of capabilities –
including gathering, transmission, processing,
and fractionation. Williams owns and
operates 3,500 miles of natural gas and oil
gathering and transmission pipeline, along
with 1.8 billion cubic feet per day of cryogenic
processing capacity and 60,000 barrels per day
of fractionation capacity that span the Gulf
of Mexico. The company has ownership in
two floating production platforms, multiple
fixed leg utility platforms and numerous other
related facilities.
WILLIAMS, August 04, 2021

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