Energy / Automotive News ; Rig Count: U.S. -2 to 621 Canada +2 to 234
London, 19 February 2024, (Oilandgaspress): – In accordance with its policy in favor of employee shareholding, TotalEnergies SE (the “Corporation”) is implementing its annual capital increase reserved for employees and former employees of the TotalEnergies company (the “Company”). Through this operation, TotalEnergies SE intends to continue involving its employees in the Company’s growth. Employee shareholders, within the meaning of Article L. 225-102 of the French Commercial Code and article 11 par. 6 of the Articles of Association of TotalEnergies SE, held 7.4% of TotalEnergies SE’s share capital as of December 31, 2023.
The sixteenth resolution of the Shareholders’ Meeting held on May 26, 2023 granted the Board of Directors (the “Board”) the authority to decide, within a maximum period of 26 months, to carry out one or more capital increases of ordinary shares without preferential subscription rights, not to exceed 1.5% of the share capital at the date of the Board meeting deciding on the operation and reserved to members of a savings plan pursuant to the provisions of Articles L. 225-129 et seq., L. 225-138 and L. 225-138-1 of the French Commercial Code and Articles L. 3332-1 to L. 3332-9 and L. 3332-18 to L. 3332-24 of the French Labor Code.
The Board, pursuant to the above-mentioned authorization, decided during its meeting on September 21, 2023, to carry out, in 2024, a new share capital increase reserved for employees and former employees of the Company pursuant to the following conditions:
Maximum number of shares to be offered and total amount of the offer: 18 million shares with a nominal value of €2.50 each, representing a total nominal amount of €45 million, which is the equivalent of 0.72% of the share capital as of the date of the Board’s decision.
Description of the newly issued shares: same category as existing TotalEnergies shares with immediate dividend rights. The rights attached to the newly issued shares are the same as the rights attached to the existing shares of the Corporation, and are described in the Articles of Association of TotalEnergies SE.
Listing of the newly issued shares on Euronext: on the same line as existing TotalEnergies shares (ISIN code FR0000120271), from their issuance. American Depositary Receipts admitted to trading on the New York Stock Exchange may be issued in exchange for the new shares.
Share subscription price: equal to price corresponding to the average of the closing prices of the TotalEnergies shares on Euronext over the 20 trading sessions preceding the date of the decision setting the opening date for the subscription period, reduced by a 30% discount, and rounded off to the highest tenth of a euro. The subscription price will be definitively fixed before the beginning of the subscription period.
Indicative timeline (subject to the Chairman and CEO’s decision):
Determination of the subscription price: April 25, 2024;
Subscription period: from April 29, 2024 to May 14, 2024 (included). Read full article
Hyundai Motor Group (the Group) announced its 2024 first-half ZER01NE Accelerator program, an open innovation platform to facilitate collaboration between startups and the Group on various projects. This program aims to discover valuable startups and explore the possibilities of strategic use of their innovative technologies.
Startups can apply to one of seven global projects derived by the Group’s internal teams under three key themes: two Software-Defined Vehicle (SDV) projects, two Smart Factory projects, and three Environmental·Social·Governance (ESG) projects. Each startup is limited to one specific project.
The Group’s organizations that are responsible for technology developments are directly involved in reviewing and recruiting the applicants for each project. . Read More
Africa Oil Corp. announce that the Company repurchased a total of 326,250 Africa Oil common shares during the period of February 12, 2024 to February 16, 2024 under the previously announced share buyback program.
The launch of Africa Oil’s normal course issuer bid (share buyback) program, announced by the Company on December 4, 2023, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange (“TSX”), Nasdaq Stockholm, and applicable Canadian and Swedish securities laws.
During the period dated February 12, 2024 to February 16, 2024, the Company repurchased 120,000 Africa Oil common shares on the TSX and/or alternative Canadian trading systems. The repurchases were carried out by Scotia Capital Inc. on behalf of the Company. During the same period, the Company repurchased 206,250 Africa Oil common shares on Nasdaq Stockholm, and these repurchases were carried out by Pareto Securities on behalf of the Company. . Read full article
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $78.82 | Up |
| Crude Oil (Brent) | USD/bbl | $82.92 | Up |
| Bonny Light | USD/bbl | $85.93 | Up |
| Saharan Blend | USD/bbl | $85.15 | Up |
| Natural Gas | USD/MMBtu | $1.55 | Down |
| OPEC basket 16/02/24 | USD/bbl | $82.63 | Up |
Baker Hughes Rig Count: U.S. -2 to 621 Canada +2 to 234
U.S. Rig Count is down 2 from last week to 621 with oil rigs down 2 to 497, gas rigs unchanged at 121 and miscellaneous rigs unchanged at 3.
Canada Rig Count is up 2 from last week to 234, with oil rigs up 3 to 144, and gas rigs down 1 to 90.
International Rig Count is up 10 rigs from last month to 965 with land rigs up 5 to 740, offshore rigs up 5 to 225. International Rig Count is up 64 rigs from last year’s count of 901, with land rigs up 65, offshore rigs down 1.
The Worldwide Rig Count for January was 1,784, up 45 from the 1,739 counted in December 2023, and down 115, from the 1,899 counted in January 2023.
| Region | Period | Rig Count | Change |
| U.S.A | 16 February 2024 | 621 | -2 |
| Canada | 16 February 2024 | 234 | +2 |
| International | January 2024 | 965 | +10 |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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