Revised Petroleum Resource and Rent Tax Expected to Generate $4 Billion Less Than Initially Projected
Reworked Petroleum Resource and Rent Tax raising $4 billion less than first thought The tax on oil and gas profits is expected to raise $4 billion less than the government forecasted when it first announced a rework of the tax in 2023. Last year Treasurer Jim Chalmers amended the Petroleum Resource Rent Tax, which applies […]
Tethys Petroleum Q1 Earnings: Revenue Soars 104% Amid Production Challenges
Tethys Petroleum Q1 Earnings: Revenue Surges 104% Despite Production Hurdles Grand Cayman, Cayman Islands–(Newsfile Corp. – May 29, 2025) – Tethys Petroleum Limited (TSXV: TPL) (“Tethys” or the “Company”) today announced that it has filed its interim results for the three months ended March 31, 2025 with the Canadian securities regulatory authorities comprising its Audited […]
Trio Petroleum Withdraws from McCool Ranch Project Amid California Cost Challenges
Trio Petroleum Exits McCool Ranch Project Due to California Cost Pressures 05/23/2025 – 05:08 PM California, May 23, 2025 (GLOBE NEWSWIRE) — Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, has decided to suspend operations at McCool Ranch and will terminate its efforts to acquire a working […]
Evolution Petroleum Acquires Oil and Gas Assets at a 40% Discount to PV-10 Valuation
Evolution Petroleum Acquires Oil & Gas Assets at 40% Discount to PV-10 Value 03/04/2025 – 07:45 AM Strategic Benefits of the Acquisition: Adds approximately 440 net BOEPD of stable, low-decline production.Enhances cash flow visibility with a balanced commodity mix.Strengthens Evolution’s long-term dividend sustainability.Offers low-risk development opportunities with potential for incremental production growth.~2.8x estimated Adjusted EBITDA1 […]
Proposed Legislation to Increase Oil and Gas Royalty Rates on Future Leases | Local News
Bill to hike top oil and gas royalty rates on future leases introduced | Local News The upcoming 60-day legislative session will likely see renewed debate over raising the top royalty rate for oil and gas development on state land. Sen. George Munoz (D-Gallup) pre-filed a bill Friday to increase the cap on royalty rates […]
GeoPark Purchases Repsol’s Colombian Oil and Gas Assets for $530 Million
GeoPark acquires Repsol’s Colombian oil and gas assets for $530 million GeoPark Limited, a prominent independent energy company operating across Latin America, has signed Sale and Purchase Agreements (SPAs) with Repsol Exploración S.A. and Repsol E&P S.A.R.L to acquire key oil and gas assets in Colombia. The acquisition encompasses Repsol Colombia O&G Limited’s 45% non-operated […]
Backing Petroleum: bp’s Shift in Strategy Poses Risks for Climate and Investors
Backing Petroleum: bp’s transition U-turn is bad for the climate and investors This week, reports[i] have emerged of bp’s CEO Murray Auchincloss latest U-turn regarding bp’s transition strategy: the company has scrapped its previous relatively ambitious target of reducing oil and gas production by 25% by 2030 (vs 2019). Bp had made some headway towards […]