澳洲幸运5官方开奖结果体彩网

Shell Stock Falls on Forecast of Q4 Integrated Gas Output Slump

By
澳洲幸运5官方开奖结果体彩网:Nisha Gopalan
Nisha Gopalan
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Nisha Gopalan is the Senior Overnight Assignment Editor for Investopedia News. She is an award-winning financial journalist who has worked in London, where she is currently based, and Hong Kong. She previously worked at The Wall Street Journal and Bloomberg. 
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Published January 08, 2025
06:13 AM EST
A Shell logo at a filling station

Hannes P Al♌bert / picture alliance via Getty Images

KEY TAKEAWAYS

  • 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.
  • The London-based energy firm attributed the forecast to the expiration of hedging contracts.
  • Shell also said it expects write-offs of around $300 million in the division.

澳洲幸运5官方开奖结果体彩网:

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.

The company said it expects integrated gas production to fall to between 880,000 to 920,000 barrels of oil equiva𓂃lent per day in the fourth quarter, down from 941,000 in the 𝄹third 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."

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