Page 13 - NorthAmOil Week 31

NorthAmOil
NEWS IN BRIEF
NorthAmOil
Cheniere reports second- quarter 2019 results and reconfirms full year 2019 guidance
Cheniere Energy reported a net loss1 of $114mn, or $0.44 per share (basic and diluted), for the three months ended June 30, 2019, compared to a net loss of $18mn, or $0.07 per share (basic and diluted), for the comparable 2018 period.
Cheniere reported a net income of $27mn, or $0.11 per share (basic and diluted) for the six months ended June 30, 2019, compared
to net income of $339mn, or $1.42 per share – basic and $1.40 per share – diluted, for the comparable 2018 period.
Net loss increased during the three months ended June 30, 2019 as compared to the
three months ended June 30, 2018 and net income decreased during the six months ended June 30, 2019 as compared to the six months ended June 30, 2018 primarily due to increased total operating costs and expenses as a result of additional trains in operation between each of the periods and certain maintenance and related activities at the SPL Project, increased interest expense, increased net derivative loss, and decreased margins
per mmBtu of LNG recognised in income primarily due to decreased pricing on LNG sold by our marketing a liate, partially o set by increased volumes of LNG recognised in income and decreased net income attributable to non-controlling interest.
Consolidated Adjusted EBITDA for
the three months ended June 30, 2019 was $615mn, compared to $531mn for the comparable 2018 period. e increase in Consolidated Adjusted EBITDA was primarily due to increased income from operations.
Consolidated Adjusted EBITDA for the six months ended June 30, 2019 was $1.27bn, compared to $1.44bn for the comparable 2018 period. e decrease in Consolidated Adjusted EBITDA was primarily due to decreased income from operations and decreased adjustments for certain non-cash items including net gain from changes in fair value of commodity and foreign exchange derivatives.
During the three months ended June
30, 2019, 104 LNG cargoes were exported from our liquefaction projects, one of which was a commissioning cargo. During the
six months ended June 30, 2019, 191 LNG cargoes were exported from our liquefaction projects, of which eight were commissioning
cargoes. Twelve cargoes exported from our liquefaction projects and sold on a delivered basis were in transit as of June 30, 2019, one of which was a commissioning cargo.
CHENIERE ENERGY, August 08, 2019
SERVICES
TGS awarded five-year contract extension by BSEE
TGS-NOPEC Geophysical (TGS) has been awarded a ve-year contract for Digital Well Log Data Processing with the United States Department of the Interior, Bureau of Safety and Environmental Enforcement (BSEE), a federal agency tasked with overseeing o shore oil and gas activities. TGS has been providing Digital Well Log Data Processing services to BSEE since 2004.
BSEE requires complete, defect-free sets of processed, high-quality open-hole digital well log data and contracts companies to serve as an agent of BSEE for the processing, storage, and delivery of this data. TGS is the o cial release agent for new o shore well data and does all the digital well log processing for all four BSEE regions (Gulf of Mexico, Paci c, Alaska, and Atlantic).
Carl Neuhaus, vice president – well data products at TGS said: “We greatly appreciate the continued trust placed in TGS by BSEE and are proud to better serve our national oil and gas industry by further expanding our data availability. Our engagement is perfectly aligned with our mission to enable our customers to hit the ground running by accessing the largest library of high quality subsurface data in the industry.”
e TGS well data library includes more than 1.6 million immediately available LAS les, as well as over 6.2 million raster log images in the United States, in addition to a broad spectrum of other well-related data and geoscience interpretation products. TGS-NOPEC GEOPHYSICAL, August 05, 2019
MOVES
Occidental completes acquisition of Anadarko
Occidental Petroleum today announced
the successful completion of its acquisition of Anadarko Petroleum in a transaction valued at $55bn, including the assumption of Anadarko’s debt.
“With Anadarko’s world-class asset portfolio now o cially part of Occidental,
we begin our work to integrate our two companies and unlock the signi cant value of this combination for shareholders,” said Vicki Hollub, President and Chief Executive O cer. “We expect to deliver at least $3.5bn annually in cost and capital spending synergies and
the focus of our board and management team is on execution to achieve the promise of
this exciting combination. We look forward to updating the market on our continued progress in the months ahead.”
e closing of the transaction follows approval of the transaction by Anadarko’s shareholders at a Special Meeting held earlier today. More than 99% of the shares voted
at the Special Meeting were in favor of the Occidental merger agreement.
Anadarko shareholders are receiving $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock in the transaction. E ective a er the end of trading today, Anadarko’s common stock will no longer trade on the New York Stock Exchange.
OCCIDENTAL PETROLEUM, August 08, 2019
Caliber Midstream acquires North Dakota assets from American Midstream Partners
Caliber Midstream Holdings has acquired
the North Dakota assets previously owned
by American Midstream Partners. e acquisition expands Caliber’s crude oil gathering and transportation service lines and widens Caliber’s area of operations within McKenzie County, North Dakota.
“ is bolt-on acquisition is another step in executing our growth strategy. Our goal is to become a top-tier midstream company,” said Caliber Chief Executive O cer and President Daniel Werth. “We want to be the partner
of choice across all aspects of our business, from crude oil gathering and transportation, natural gas gathering and processing services to freshwater sourcing and produced water management. is acquisition will help us achieve our goal by providing added scale and by allowing us to facilitate new commercial opportunities to deliver innovative and cost- e ective solutions for our customers.” CALIBER MIDSTREAM HOLDINGS, August 06, 2019
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