Page 10 - NorthAmOil Week 44 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM and have agreed to capacity at the prospective In the first quarter the company sponsored
German LNG Terminal, enhancing our focus HNR Acquisition, a special purpose
ConocoPhillips reports on this valuable energy transition fuel,” said acquisition corporation that raised $86mn
Ryan Lance, chairman and chief executive
for a business combination. The company is
third-quarter 2022 results; officer. “By concentrating on low cost-of- currently working on sponsoring a second
special purpose acquisition. The company
supply and low greenhouse gas production,
announces 11% increase to ConocoPhillips is well positioned to compete plans to make an up listing to the OTCQB in
the fourth quarter.
in near-term cycles and over the long term.”
quarterly ordinary dividend, CONOCOPHILLIPS, November 03, 2022 announced a $53mn non energy asset spin-off
In the second quarter the company
declares variable return Houston Natural Resources into Worldwide Diversified Holdings, Inc.
(WDHI) in 2022 and HNRC’s shareholders
of cash distribution and Corp. reports Q3 financials would receive a dividend of $1.75 of WDHI
shares for each HNRC share owned as
increases existing share September 30, 2022 announced on June 30, 2022. The spin-off
changes the focus of the company towards
repurchase authorisation Houston Natural Resources its energy reserves, primarily 83 oil wells,
estimated 33mn barrels in Texas among other
by $20bn Corp. (HNRC) announced interests.
In the third quarter the company
ConocoPhillips today reported third-quarter today record results for announced the acquisition of a 9% interest in
2022 earnings of $4.5bn, or $3.55 per share, Cunningham Energy. Cunningham Energy
compared with third-quarter 2021 earnings of the financial period ending has an independent appraisal of $218mn,
$2.4bn, or $1.78 per share. Excluding special based on a drilling programme of 40 wells, for
items, third-quarter 2022 adjusted earnings September 30, 2022. its 30,000 acres of leases in West Virginia.
were $4.6bn, or $3.60 per share, compared HOUSTON NATURAL RESOURCES CORP.,
with third-quarter 2021 adjusted earnings of The company’s total revenues increased 13% November 01, 2022
$2.4bn, or $1.77 per share. Special items for to $14,207,619 for the nine-month period
the current quarter were primarily driven by a ending September 30, 2022, compared to
loss on asset sales. $12,571,233 for the same period ending SERVICES
“We continue to deliver competitive September 30, 2021. The company’s net
returns, meet global energy needs and reduce earnings have increased 29% to $8,163,923 Mammoth Energy
our emissions consistent with our Triple for the nine-month period ending September
Mandate. ConocoPhillips distributed $4.3bn 30, 2022, compared to $6,307,247 for the announces two sand supply
to our shareholders in the third quarter same period ending September 30, 2021. This
and announced an increase to our ordinary equates to $0.16 per share in earnings per agreements
dividend effective in the fourth quarter. share (EPS) for the first nine months of 2022.
Our Lower 48 business unit accomplished The company’s net assets have increased Mammoth Energy Services today announced
record production of more than 1mn barrels 27% to $93,593,813 as of September 30, 2022, that its subsidiaries, Piranha Proppant and
of oil equivalent per day. We expanded our from $73,698,571 as of September 30, 2021, a Taylor Frac have entered into two sand
global LNG portfolio with opportunities in net asset value (NAV) of $1.86 per share as of supply agreements with third-party service
QatarEnergy’s North Field South LNG project September 30, 2022. providers with terms of 12 months and 21
months, respectively, beginning on January 1,
2023. Under the terms of the agreements, the
company’s subsidiaries have agreed to supply,
in aggregate, approximately 1.75mn tons of
sand across multiple grades (20/40, 30/50, and
40/70) over the contract periods.
Arty Straehla, chief executive officer,
commented, “As we move into 2023, the
execution of these sand supply agreements at
attractive pricing provides a solid foundation
for predictable cash flow in our natural sand
proppant division. We believe the timing
of these contracts is prudent for capturing
favourable pricing and utilising the capacity of
our sand mines by producing all of the grades
of sand we can provide.”
MAMMOTH ENERGY SERVICES, November 01,
2022

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