ComboCurve’s Post

Challenger Energy is pleased to announce that it has entered into a farm-out agreement with Chevron related to a 60% interest in the AREA OFF-1 block offshore Uruguay. The primary terms of the Transaction are: Chevron will acquire a 60% participating interest in the AREA OFF-1 block, and will assume operatorship of the block. CEG Uruguay will retain a 40% non-operating interest in the block. Chevron will pay to CEG US$12.5 million cash on completion of the Transaction, these funds will be used to support the further development of the Company’s business. Chevron will carry 100% of CEG Uruguay’s share of the costs associated with a 3D seismic campaign on AREA OFF-1, up to a maximum of US$15 million net to CEG Uruguay. Following the 3D seismic campaign, should Chevron decide to drill an initial exploration well on the AREA-OFF 1 block, Chevron will carry 50% of CEG Uruguay’s share of costs associated with that well, up to a maximum of US$20 million net to CEG Uruguay. Eytan Uliel, Chief Executive Officer of Challenger said: “We are absolutely delighted to announce the farm-out of our AREA OFF-1 block in Uruguay to Chevron, a globally recognised industry leader. We firmly believe that AREA OFF-1 holds enormous potential, and this farm-out is strong validation of the high-quality technical work CEG has done to-date. Our stated strategy for AREA OFF-1 was to introduce a larger industry player as operating partner, with a view to rapidly progressing the block via an accelerated 3D seismic campaign followed by, we hope, exploration well drilling. The farm-out achieves this aim, and we look forward to continuing on our exciting journey in Uruguay, both on AREA OFF-1, now in partnership with Chevron, and also on our still wholly owned AREA OFF-3 block. We are grateful to ANCAP for the confidence shown in CEG when awarding these blocks, and we thank our stakeholders for their continuing support.” Read the full announcement here: https://ow.ly/AlkF50QMg5k

I recently shared a post highlighting Uruguay as the next frontier in oil and gas exploration in South America. Coincidently, today, it was shared that Chevron has acquired a 60% operating interest in Area OFF-1. The majors are seeing the potential. #energy #oilandgas #uruguay #southamerica #latam

Seismic Data involvement in Divestitures With divestiture activity still going strong in 2024 we have a lot of clients asking about the role seismic data plays in this space and how it can be utilized. Check out this short article on what to know when you are dealing with seismic data as part of your divestiture deals. https://lnkd.in/gkRFJT3J

We've recently expanded our well economics dataset to include the Delaware Basin within our Well Data Analytics platform! This expansion provides our clients with comprehensive data, enabling faster and more accurate benchmarking, capital allocation and investment analysis in the basin. Discover breakeven prices and cost structure for drilling wells in the Delaware Basin, providing exclusive insights for precise M&A and A&D asset valuations. Explore how we can supercharge your projects and propel your success by requesting a free Well Data Analytics trial: https://hubs.ly/Q02z15k10. #TGS #WellEconomics #DelawareBasin #DataExpansion #AssetValuation

"You guys think we can just turn a dial..." Capital efficiency and resource optimization are two opposing forces in the capital markets. Overcapitalized pads with too many wells and excessive capex can lead to poor returns. Resolute's WCB's destroying their A's, Encana's rab davidson pad, the list goes on. We had a recent meeting with a private E&P company CEO who put it well, "Everyone thinks we can just turn a dial, it's not that easy with the amount of planning & contracting that has gone on ahead of time." Planning for development optimization is a moving target. Certain mid sized public E&P's are especially stuck because the high IP's their investors have come to expect only come from parent well drilling. Diamondback Energy on the other hand as an example, swallowed the hard pill in 2019 and switched to co-development. At FLOW, one small thing we've done is generated a multi-million-point set of NPV maximization scenarios across all basins at different price decks. We use this to help our subscribers make informed decisions when putting capital to work in upstream. Our experience on the buy side, and our experience drilling wells reads through in the conclusions we deliver to our subscribers. We don't always deliver the popular answers, but they're founded in creating returns. #CapitalMarkets #ResourceOptimization #NPVMaximization #UpstreamIntelligence #DataDrivenInsights

We've recently expanded our well economics dataset to include the Delaware Basin within our Well Data Analytics platform! This expansion provides our clients with comprehensive data, enabling faster and more accurate benchmarking, capital allocation and investment analysis in the basin. Discover breakeven prices and cost structure for drilling wells in the Delaware Basin, providing exclusive insights for precise M&A and A&D asset valuations. Explore how we can supercharge your projects and propel your success by requesting a free Well Data Analytics trial: https://hubs.ly/Q02z0_Zj0. #TGS #WellEconomics #DelawareBasin #DataExpansion #AssetValuation

Excellent presentation

ICYMI #SantacruzSilver was recently featured on Proactive, where we shared our Q1 results and the company’s future outlook. Read the full article here: https://bit.ly/4aP9PZ1

Key Insights from Gulfport Energy’s Q2 2024 Earnings Call Financial Performance • Adjusted EBITDA: $164 million. • Adjusted Free Cash Flow: $20 million. • Average Daily Production: 1.05 billion cubic feet equivalent per day. • Production Guidance: Narrowed to 1.055-1.07 billion cubic feet equivalent per day for 2024. • Realized Unit Price: $2.93 per Mcfe, which is 55% above the NYMEX Henry Hub Index price. • Liquidity: $707 million, including a trailing 12-month net leverage below 1x. Operational Highlights • Capital Savings: Achieved through operational efficiencies, forecasting over $25 million in capital savings for the full year. • Drilling Activities: Plans to resume drilling in the SCOOP area in Q4 2024. • Liquids-Rich Activity: Focused on the Utica formation and positive results in the Marcellus. • Operational Records: Achieved a new record on daily frac pumping hours and significant cycle time reductions. Strategic Moves • Share Repurchase Program: Expansion plans reflect confidence in business strategy and commitment to shareholder returns. • Discretionary Acreage Acquisitions: Allocating around $45 million for high-margin, low-breakeven areas, with development expected to start within 1 to 1.5 years. • Downside Protection: Nearly 65% of remaining 2024 natural gas production has downside protection. Market Position • Premium Markets: Firm delivery of 10% to 15% of natural gas to premium markets, tapping into the growing LNG corridor and industrial demand centers. • Transportation Portfolio: Strategic connectivity provides access to diverse and premium markets. Analyst Insights • Market Capitalization: $2.44 billion. • P/E Ratio: 3.29 for the last twelve months as of Q2 2024. • Revenue Growth: Significant decline of 73.81% over the same period, raising concerns about future revenue streams. • Stock Position: Currently in oversold territory according to the RSI, potentially presenting a buying opportunity for contrarian investors. • Profitability: Analysts predict the company will be profitable this year despite an expected net income drop. Q&A Highlights • Allocation of Savings: The $25 million in savings could be allocated towards balance sheet improvements, buybacks, or accelerated activity depending on the macro environment and stock price. • Acreage Acquisitions: Focused on high-margin, low-breakeven areas, with development expected to start within 1 to 1.5 years. • Liquids Pivot: Anticipated reduction in oil percentage in the commodity mix from 92% gas to the high 80s over the next year-and-a-half. • Impact of Mountain Valley Pipeline: No material impact on basis markets so far.

🔔 Our President and CEO, Kevin Neveu recently joined BNN Bloomberg to discuss our second quarter results! Tune into the full interview with Kevin as he shares insights into the strong Canadian market, increasing shareholder returns, and the logistics of moving our rigs! https://lnkd.in/gkyMf7rh #PrecisionDrilling #Precision #PD #HighPerformanceHighValue #DrillingPerformance #oilandgas #ceo #drilling #interview  #OperationalEfficiency #OilandgasNews #IndustryNews #energynews #bnnbloomberg  #financialresults #CEOinterview #businessnews #2024outlook #investorrelations