Shell Raises Q2 Integrated Gas, Upstream Production Guidance

Shell (SHEL.L, SHELL.AS) on Tuesday updated its integrated gas and upstream production guidance for the second quarter. The energy giant expects production of 610,000 to 650,000 barrels of oil equivalent per day, from a previous range of 580,000 to 640,000 boepd. Integrated gas production totaled 909,000 boepd in the first quarter. Shell also increased its forecast for second-quarter LNG liquefaction volumes to 7.4 million tonnes to 7.8 million tonnes, up from prior guidance of 6.8 million tonnes to 7.4 million tonnes. The business produced 7.9 million tonnes in the first quarter. The group now expects second-quarter upstream production of 1.8 million to 1.9 million boepd, compared with previous guidance of 1.6 million to 1.8 million boepd. Upstream production was 1.8 million boepd in the first quarter. Shell is scheduled to report its second-quarter results on July 30.