Chevron announces 4Q19 results
Chevron Corp. has reported a loss of US$6.6 billion (US$3.51) per share - diluted) for 4Q19, compared with earnings of US$3.7 billion (US$1.95 per share - diluted) in 4Q18.
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Chevron Corp. has reported a loss of US$6.6 billion (US$3.51) per share - diluted) for 4Q19, compared with earnings of US$3.7 billion (US$1.95 per share - diluted) in 4Q18.
The company's budget for 2020 is US$1.27 billion, which represents a 30% increase on 2019 capital expenditure.
The two companies have completed a joint acquisition of the 49% interest held by Schlumberger in the Bandurria Sur onshore block in Argentina’s Neuquén province.
The five-year contract will take effect in April 2020.
If fraccing activity were to be eliminated on federal acreage the result would be a widespread shift of capital from federal to private and state-owned acreage in a bid to replace the lost oil volumes, according to Rystad Energy.
The actuators will be operated by end user Modec to control the flow of oil and gas from the FPSO to the metering system.
Through December 2019, the Texas Petro Index lost 9.4% of its value since the February 2019 cyclical peak.
The net proceeds of the placing will primarily be used to fund the company’s acquisition of a 49.9% indirect stake in El Romeral.
The four companies have entered into related agreements on 30 January 2020.
Formed in 1978, GSI has seven locations in the US and one in Aberdeen, Scotland with a global team of 210.
Subsea Integration Alliance, SIA formed by Subsea7 and OneSubsea has been selected for the subsea, umbilical, risers and flowlines contract and MODEC Inc. for the FPSO contract.
The programme was unveiled at DigEx 2020 in Oslo, Norway, where the company discussed how it is making use of digital technologies, including the latest cloud infrastructure, to reduce the time from “idea to discovery”.