Daily Brief Energy/Materials: SGX Rubber Future TSR20, Crude Oil, Pbf Energy Inc Class A, Schlumberger Ltd, Endurance Gold, Silgan Holdings, Matador Resources Co, Teck Resources , Chord Energy and more

• Highlights ·       VFCS/PEFC certification covers 123,927 ha of rubber plantations ·       PEFC EUDR Due Diligence System shows the way for Vietnam ·       Experts point to offer of premium as new opportunity   In its efforts to align with the European Union Deforestation Regulation (EUDR), Vietnam has made significant strides through the Vietnam Forest Certification System (VFCS) and its partnership with the Programme for the Endorsement of Forest Certification (PEFC).
•   Giving Vietnam Forest Certification Office’s (VFCO’s) insights on navigating EUDR, Dr. Nguyen Hoang Tiep, Deputy Director, VFCO, said at the Vietnam Rubber Dinner 2024 Seminar held at White Palace Convention Centre in Ho Chi Minh City on December 12 that the VFCO-PEFC efforts aim to ensure sustainable forestry practices and facilitate compliance with stringent international requirements for deforestation-free commodities.
•   Vietnam became the 50th member of the PEFC in 2019, marking an important step in integrating international standards into its forestry sector.

• China implementing stimulus measures to boost growth
• Cold weather leading to increased demand for heating fuel oil
• Global oil inventories at record lows, with improving sentiment on China leading to potential increase in domestic demand.

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• The U.S. oil and gas rig count dropped for the first time in six weeks, as it fell by 5 to 584 for the week ending 10/Jan.
• For the week ending 03/Jan, U.S. oil production moderately fell to 13.56m bpd from 13.57m bpd the week prior.
• U.S. oil rig count fell by 2 to 482 while gas rigs dropped by 3 to 100. Producers cut three rigs in Texas and one each from Utah and Colorado.

• PBF Energy’s latest earnings present a nuanced picture of the company’s current status and future outlook.
• The company reported an adjusted net loss of $1.50 per share and an adjusted EBITDA loss of $60.1 million for the third quarter of 2024.
• This performance reflects a challenging period characterized by weaker market conditions, particularly in terms of refinery margins and crude differentials.

• Schlumberger’s Q4 2024 revenue is expected to increase by 2.6% YoY and EPS by 7.1%. For fiscal 2024, revenue is expected to rise 9.3% YoY and EPS by 14.4%.  
• SLB surpassed analyst EPS projections for the past four consecutive quarters, despite facing headwinds from lower drilling activity in North America and slowing international expenditures.
• SLB completed the construction of the world’s first industrial-scale carbon capture facility in Q4. It also enhanced its digital solutions portfolio and secured major contracts for deepwater operations.

• EDG reported assay results at the northern extent of the highly impressive Eagle Zone and the transition to the deeper Crown Zone.
• Today’s drilling intersected stellar high-grade at-surface intercepts (5.15 g/t Au over 21.6m, 6.51 g/t Au over 14.9m, and 6.20 g/t Au over 7.8m)
• The results included nine drill holes totalling 1,084m. The 2024 drill program is now complete for 7,303m drilled.

• Silgan Holdings Company (Silgan) delivered a mixed performance in its third-quarter 2024 financial results, illustrating both strategic progress and operational challenges.
• A recent highlight for the company is the successful acquisition of Weener Packaging, which adds advanced products and manufacturing capabilities to Silgan’s portfolio.
• The management expects this acquisition to drive organic growth, enhance margins, and generate shareholder value through efficient integration and cost synergies, aiming to return to targeted leverage levels by the end of 2025.

• Matador Resources Company reported its third-quarter 2024 earnings, which showcased several key developments and metrics influencing investor perspectives.
• The integration of the Ameredev assets was emphasized, with the company reporting that this integration is ahead of schedule and exceeding anticipated performance.
• These assets contributed significantly to the production increase seen towards the end of the quarter, primarily driven by new well completions that outperformed initial expectations.

• Teck Resources Limited’s third quarter of 2024 marks a transformative phase as the company evolves into a pure-play energy transition metals entity following the sale of its residual interest in the Steelmaking Coal business.
• This divestiture has substantially fortified Teck’s financial position, yielding USD 7.3 billion in cash and enabling one of the corporation’s most significant shareholder returns in its history.
• These returns include USD 720 million in dividends and share buybacks during the quarter, and over USD 1.3 billion year-to-date.

• Chord Energy reported strong third-quarter 2024 results, demonstrating resilience and operational efficiency amidst challenging conditions, including wildfires in North Dakota.
• The company produced oil volumes at the higher end of its guidance, driven by robust execution, superior well performance, and minimized downtime.
• Capital expenditures were lower than anticipated due to operational efficiencies and timing adjustments.