Tuesday, August 4, 2026

Diamondback Begins Pruning Assets, Buying Shares

Output up: 156% increase year-over-year Company announces $2 billion share buyback program By Richard Rostad, analyst, Oil & Gas 360 Diamondback Energy (ticker: FANG) announced first quarter results today, showing a mere $10 million in income, or $0.06 per share. While Diamondback did make a profit this quarter, unlike some other E&P firms, it was significantly hindered by derivative losses.

Anadarko, Mozambique expect FID Announcement for Mozambique LNG Project on June 18

Offshore Area 1: 75 Tcf await liquefaction, sales The president of Mozambique met with Anadarko CEO Al Walker Tuesday and announced plans for Mozambique LNG to announce the final investment decision (FID) during a celebratory event on June 18, 2019 in Maputo. Anadarko and partners in the project have discovered approximately 75 trillion cubic feet (Tcf) of recoverable natural gas resources in Offshore

U.S. Refinery Capacity Breaks 1981 Record: EIA - Oil & Gas 360

Marathon Petroleum to Merge Midstream Units, Posts Surprise Loss

From Reuters U.S. oil refiner Marathon Petroleum Corp said on Wednesday it would merge its midstream units in a $9 billion deal, and posted a surprise first-quarter loss due to higher prices of Canadian crude. The refiner said in October it planned to assess options for the two master limited partnerships, MPLX and Andeavor Logistics LP, which transport, store and

Chesapeake Sees Growth from Less-Crowded Wyoming Basin in Second Half

From Reuters Oil and gas producer Chesapeake Energy Corp on Wednesday reported better-than-expected quarterly production and said it expects growth in the second half to get a boost from the less-crowded Powder River Basin in Wyoming. Chesapeake has been moving money from its Marcellus Shale and Mid-Continent areas to the oil-rich Powder River Basin, which hit a record of 42,000