Hannes P. Albert via Getty Images
Takeaways from the Key Notes
- Shell shares are falling in premarket trading Wednesday after the oil giant said it expects to post a large quarter-over-quarter production slump in its integrated gas division.
- This forecast was attributed by the London-based firm to the expiration date of hedge contracts.
- Shell said that the company expects to write off around $300 Million in its Shell division.
Shell (SHEL) shares are falling 2% in premarket trading Wednesday after the oil giant said it expects to post a large quarter-over-quarter production slump in its integrated gas division as its hedging contracts expire.
According to the company, integrated gas output is expected to decline to between 880,000 and 920,000 barrels per day of oil-equivalent in the 4th quarter. This compares to 941,000 barrels in the 3rd quarter.
"Trading & Optimisation results are expected to be significantly lower than Q3’24, driven by the (non-cash) impact of expiring hedging contracts," Shell said.
The London-based firm also said it expects well write-offs of around $300 million in the integrated gas division and a $1.3 billion outflow "related to timing of payments of emissions certificates."
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
