Released July 27, 2021 | SUGAR LAND
en
Energy Market highlights gathered by Industrial Info and IIR Energy
CORPORATE
Pembina Terminates Inter Pipeline Acquisition - Pembina Pipeline Corporation (NYSE:PBA) (Calgary, Alberta) said on Monday that the arranged acquisition of Inter Pipeline (TSX:IPL) (Calgary) by Pembina has been terminated. In connection with the termination, Inter Pipeline has agreed to pay Pembina the C$350 million (US$279 million) termination fee provided for in the agreement. Pembina's Chief Executive Officer, Mick Dilger, said, "The industrial logic of a combined Pembina and Inter Pipeline remains unparalleled and the value creation between certain of our assets is impossible to replicate by any other entity. While we are disappointed with this outcome, we will continue to seek opportunities for growth through focused acquisitions." (PR NEwswire)
PRODUCTION
Talos Exceeds Company Expectations for Second-Quarter Production - Talos Energy Incorporated (NYSE:TALO) (Houston, Texas) estimates that average daily production for the second quarter of 2021 was approximately 66,000 barrels of oil equivalent per day, ahead of company's expectations, and was approximately 69% oil and 76% liquids. Estimated realized prices for the quarter, exclusive of hedges, were $64.28 per barrel of oil and $22.28 per barrel of natural gas liquids.
CRUDE OIL
Oil Falls as Virus Concerns Weigh - Oil prices fell on Monday due to concerns over fuel demand caused by the spread of COVID-19 variants and as changes to import rules in China offset expectations of tight supplies through the rest of the year. Brent crude futures for September fell 35 cents, or 0.4%, to $73.75 a barrel, while U.S. Texas Intermediate crude was at $71.63 a barrel, down 44 cents or 0.6%. Both benchmarks slipped more than $1 a barrel in earlier trading. (Reuters)
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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
CORPORATE
Pembina Terminates Inter Pipeline Acquisition - Pembina Pipeline Corporation (NYSE:PBA) (Calgary, Alberta) said on Monday that the arranged acquisition of Inter Pipeline (TSX:IPL) (Calgary) by Pembina has been terminated. In connection with the termination, Inter Pipeline has agreed to pay Pembina the C$350 million (US$279 million) termination fee provided for in the agreement. Pembina's Chief Executive Officer, Mick Dilger, said, "The industrial logic of a combined Pembina and Inter Pipeline remains unparalleled and the value creation between certain of our assets is impossible to replicate by any other entity. While we are disappointed with this outcome, we will continue to seek opportunities for growth through focused acquisitions." (PR NEwswire)
PRODUCTION
Talos Exceeds Company Expectations for Second-Quarter Production - Talos Energy Incorporated (NYSE:TALO) (Houston, Texas) estimates that average daily production for the second quarter of 2021 was approximately 66,000 barrels of oil equivalent per day, ahead of company's expectations, and was approximately 69% oil and 76% liquids. Estimated realized prices for the quarter, exclusive of hedges, were $64.28 per barrel of oil and $22.28 per barrel of natural gas liquids.
CRUDE OIL
Oil Falls as Virus Concerns Weigh - Oil prices fell on Monday due to concerns over fuel demand caused by the spread of COVID-19 variants and as changes to import rules in China offset expectations of tight supplies through the rest of the year. Brent crude futures for September fell 35 cents, or 0.4%, to $73.75 a barrel, while U.S. Texas Intermediate crude was at $71.63 a barrel, down 44 cents or 0.6%. Both benchmarks slipped more than $1 a barrel in earlier trading. (Reuters)
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
