Page 16 - NorthAmOil Week 09 2023

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM Average realised commodity prices during scheduled to commence trading on the
the quarter were $84.33 per bbl for oil (102% NASDAQ under the ticker symbols “HHRS”
Callon Petroleum of NYMEX WTI), $25.79 per bbl for natural and “HHRSW,” respectively, and on the
TSX under the ticker symbols “HHRS” and
gas liquids, and $4.06 per mmBtu for natural
announces fourth quarter gas (66% of NYMEX HH). Total average “HHRS.WT,” respectively, on February 27,
2023.
realised price for the period was $62.00 per
and full year 2022 results Boe on an unhedged basis. gas exploration and production company
Hammerhead is a Canadian oil and
Lease operating expenses (LOE), which
Callon reported fourth quarter 2022 net includes workover expense, for the quarter developing a 107,000 net acre resource base
income of $272mn, or $4.41 per diluted share, was $74.1mn or $7.58 per Boe, compared within the Montney Trend, a high performing
and adjusted EBITDA of $412.2mn. The to $7.71 per boe in the prior quarter of onshore basin.
company’s adjusted income was $207mn, or 2022. The sequential decrease in LOE was HAMMERHEAD ENERGY, February 24, 2023
$3.36 per diluted share. primarily related to lower operating costs
The company generated $372.6mn of net for fuel, power, chemicals and repairs and
cash provided by operating activities in the maintenance. MIDSTREAM
fourth quarter, a 2% year-over-year increase. CALLON PETROLEUM, February 23, 2023
Net cash provided by operating activities in Chevron announces
2022 was up 54% year-over-year to $1.5bn. Hammerhead Energy files
Total operational capital expenditures for lower carbon LNG fleet
the fourth quarter and full-year 2022 were final Canadian non-offering
$191.7mn and $841.5mn, respectively. Callon modification project with
is committed to not outspending cash flow prospectus and confirms
and had a capital reinvestment rate of less Sembcorp Marine
than 60% of net cash provided by operating expected trading on the
activities in 2022. Chevron Corporation, through its subsidiary
For full-year 2022, debt was reduced by NASDAQ and TSX Chevron Shipping Company LLC, announced
$461.9mn. The year-end balance on the entrance into an agreement with Sembcorp
company’s senior secured revolving credit Hammerhead Energy today announced Marine Repairs & Upgrades, a wholly owned
facility was $503.0mn and cash balances that in connection with the previously subsidiary of Sembcorp Marine, intending
were $3.4 mn. In mid-October, Callon and announced business combination among to reduce the carbon intensity of their LNG
its lenders entered into an amendment to the the corporation, Hammerhead Resources fleet operations. Under the agreement, with
credit facility which extended the maturity Inc. and Decarbonisation Plus Acquisition Sembcorp Marine’s support, Chevron will
to October 19, 2027. The Credit Facility has Corporation IV, which was completed on install new technologies aboard Chevron
a borrowing base of $2.0bn with an elected February 23, 2023, the corporation has filed vessels to support their energy transition
commitment of $1.5bn. and received a receipt from the Alberta goals. The changes are also in alignment
Fourth quarter production averaged 106.3 Securities Commission for its final Canadian with decarbonisation targets set by the
mboe/d (62% oil and 82% liquids), in line non-offering prospectus. International Maritime Organisation (IMO).
with guidance. Results reflect the negative The corporation is now a reporting issuer Chevron aims to lower the carbon
impact of adverse winter weather, which is under the Securities Act (Alberta) and its footprint of LNG transportation by installing
estimated at approximately 0.6 mboe/d. Class A common shares and warrants are new technologies such as a reliquefication
system, hull air lubrication, and a new gas
compressor. Together, these changes are
expected to reduce cargo boil-off, lower fuel
consumption and increase volumes of cargo
delivered.
“We are excited to work with Sembcorp
Marine to help us advance our lower carbon
goals,” said Mr. Mark Ross, President of
Chevron Shipping Company. “We believe
LNG will be a key component of the global
energy transition for years to come, and
Chevron is focused on continuing its
disciplined capital investment in our LNG
fleet.”
CHEVRON, February 26, 2023
Williams prices $1.50bn of

senior notes

Williams announced today that it has priced a
public offering of $750mn of its 5.400% senior

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