A lot is happening in the Oil & Gas industry in the month of July. Continue reading our oil and gas news roundup to learn more about what’s happening in the industry this month.
EnerCom Dallas, which will took place August 13-16, 2023 in Uptown Dallas, is an energy-focused investment conference that provides institutional investors the opportunity to hear investor presentations from the top independent producers, midstream and oilfield service companies and meet their management teams to discuss their plans to drive development, fund operations and return value to shareholders in 2023.
Since 1954, the EnerCom team has been unified by our values, our commitment to building shareholder value, and our culture, which empowers every employee to make decisions and achieve the company’s goals. Click the link here to see what you missed at this year’s conference!
NuVista Energy Ltd. Announces Record Production
NuVista Energy Ltd. is pleased to announce record high weekly production and positive financial and operating results for the three and six months ending June 30, 2023. Despite facing temporary production challenges from the Alberta wildfires and moderation in commodity prices, the quality and capacity of their asset base enabled them to continue to deliver strong returns.
They continued to invest in a disciplined manner in new high-return wells to fill and optimize existing facilities. New well results continued to be strong, and their most recent Gold Creek pad set a new record for cost and speed of drilling for the Wapiti area. During the quarter, they successfully completed and then renewed their Normal Course Issuer Bid (“NCIB”), reaffirming their commitment to returning capital to shareholders. Additionally, NuVista once again increased their future natural gas export pipeline capacity.
To read more about this record breaking quarter click here.
Offshore Oil Workers Fall Ill as Heat Sears USA Gulf Coast
Heat-related illnesses are hitting workers on offshore oil and gas platforms as searing temperatures bake the US Gulf Coast.
A rare heat advisory from the Interior Department’s Bureau of Safety and Environmental Enforcement warned offshore oil companies to take extra precautions in the Gulf, including periodic breaks. A measure of what temperatures feel like when combined with humidity — has reached 100F to 110F (38C to 43C) degrees. In a few recent instances, affected workers have been taken to shore for further evaluation.
For updates on the conditions of the workers affected click here.
U.S. to Unfreeze Iran’s Oil Money in Exchange for Prisoner Release
The United States has agreed to give Iran access to $6 billion in currently frozen Iranian oil revenue currently held in South Korea, in exchange for the release of five Americans imprisoned in Iran. These five Iranian/American dual citizens – which now remain under house arrest in a hotel in Tehran – will be held in the hotel for weeks until they can board an airplane to return to the United States. Once unfrozen, the money will be controlled by the government of Qatar, which will make sure Iran only uses the money to pay vendors for purchases related to humanitarian needs, like medicine and food.
To read the full article, click here.
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