Shell raises Q3 gas output forecast
- The integrated gas outlook includes its $16.4 billion acquisition of Canadian energy company ARC resources
Shell updated its third-quarter forecasts, projecting higher integrated gas production (740,000-780,000 boed) and slightly adjusted LNG output, partly due to an acquisition.
- Shell's updated Q3 integrated gas production forecasts.
- Third-quarter LNG production expectations.
- Impact of the ARC resources acquisition.
Shell’s third-quarter integrated gas production was expected to be about 740,000 to 780,000 barrels of oil equivalent per day, the company said on Wednesday, compared with a previously expected a range of 570,000 to 630,000 boed.
In the second quarter the company produced 631,000 boed in comparison with over 900,000 boed before the US and Israel started a war on Iran in February.
Third-quarter LNG production was expected to be about 7.2 million to 7.6 million metric tons, the company said, compared with a previous forecast of 7.1 million to 7.7 million tons and compared to 7.7 million tons in the second quarter.
The integrated gas outlook includes its $16.4 billion acquisition of Canadian energy company ARC resources, which completed on September 2, the oil major said.