Latest From Hart Energy
New Permian Math: Vital Energy and 42 Horseshoe Wells
Vital Energy anticipates making 42 double-long, horseshoe-shaped wells where straight lines would have made 84 wells. The estimated savings: $140 million.
Magnolia Bolts-on 27,000 Acres in South Texas’ Giddings Field
Magnolia Oil & Gas said it paid $125 million to a private operator to acquire the acreage, which has minimal production.
Tetra Tech Acquires Convergence Controls & Engineering
Tetra Tech is acquiring Convergence Controls & Engineering to expand its digital water and energy offerings.
Energy Transfer Remains Hungry for M&A, Sees 1Q Oil Volumes Surge
Energy Transfer reported record first-quarter crude volumes and expects demand for petrochemicals to continue rising.
US Republican Attorneys General Sue to Stop EPA's Carbon Rule
The rule, finalized by President Joe Biden's administration last month as part of an effort to combat climate change, was challenged in three lawsuits filed in the U.S. Court of Appeals for the District of Columbia Circuit.
Offshore Technology Conference (OTC), Highlights, Field Development, Deepwater, Emerging Plays, Subsea
Time is Money: Shell Prioritizes Speed with Brownfield Strategy
Shell’s replicant strategy trades customization of the production unit for a sped-up cycle time for Whale, Sparta developments in the deepwater Gulf of Mexico.
Kinetik Launches Delaware Basin M&A Valued at $1.3B
Kinetik Holdings will buy Durango Permian infrastructure for $765 million, excluding contingency payments, and sell its interests in the Gulf Coast Express pipeline to AcrLight Capital Partners for $540 million.
IndustryVoice: A Bold New Take on the Industry’s Most Popular Pump
Join Dana Meadows, Baker Hughes Artificial Lift Systems, as she discusses the newest pump in the LIFTPrime 400 Series, the E2000. This new workhorse reduces the number of pumps needed in your ESP string from 3 to 2 and offers the highest power efficiency range across the widest operating range in the industry, for efficient, versatile, and more economic operations.
Chord Juggles Closing $4B Enerplus Deal, Plans to Drill 4-mile Laterals
Chord Energy expects to close its Enerplus acquisition by the end of May but, for now, is focused on three-mile and, eventually, four-mile laterals in the Williston Basin.
Sitio Closes D-J Basin Deal, Looks to Defragment Minerals Space
Sitio Royalties closed its acquisition of 13,062 net royalty acres. CEO Chris Conoscenti has a strong pipeline of minerals acquisition opportunities.
Energy Transfer Eyes Draft Environmental Statement for Blue Marlin Project This Quarter
Energy Transfer is among several firms vying to build deepwater ports along the Texas Gulf Coast.
Trump Woos Oil CEOs, Promises to Roll Back Biden Rules on EVs, LNG
Republican president candidate Donald Trump courted the CEOs of Venture Global, Cheniere Energy as well as representatives from Chevron, Continental Resources, Exxon and Occidental Petroleum, the Washington Post reported.
Acadia Energy, Alternus to Develop 200 MW of Microgrids in New York
Acadia Energy and Alternus Clean Energy will equally share project development costs and expect to begin commercial operations within two years.
Energy Vault, ACEN Australia Enter Battery Storage Agreement
Under the agreements, Energy Vault will deploy two battery storage systems at ACEN’s New England Solar project, located near Uralla, Australia.
Kissler: Mideast Tension Elevates Crude Prices—But for How Long?
Producers should be aggressive in locking in desirable crude oil prices on an abnormal market strength.
Enverus: Permian Gains Will Sustain US Oil Production Through 2030
Crude output gains from the Permian Basin will keep U.S. oil production relatively flat entering the 2030s, offsetting declines from mature oily basins, according to Enverus Intelligence Research.
Riley Exploration Permian Closes Delaware Basin Bolt-on
Riley Exploration Permian said it added 13,900 acres and up to 25 net locations in Eddy County, New Mexico.
OFS Sector Loses Jobs, but Trade Org Says Growth Potential Remains
According to analysis by the Energy Workforce & Technology Council, the OFS job market may still have potential for growth despite a slight decrease in the sector in April.
CGG, Baker Hughes Sign MOU for CCS Projects
The memorandum of understanding between CGG and Baker Hughes will bring the companies’ complimentary skillsets together to explore carbon capture and sequestration solutions.
‘Oversupplied’ NatGas Market Aiding Williams’ Storage Business
Midstream company Williams saw overall demand growth as heavy gas volumes passed through its network.
Offshore Technology Conference (OTC), Exploration & Production, Deepwater, Conventional, Drilling, Completions, Subsea
Petrobras' Pioneering Tech Powers Decades-long, 2.9 Bboe Production
From discovery to revitalization, the deepwater Marlim Field offshore Brazil has driven development of technology while delivering more than 2.9 Bboe.
Exxon Appoints Maria Jelescu Dreyfus to Board
Dreyfus is CEO and founder of Ardinall Investment Management, a sustainable investment firm, and currently serves on the board of Cadiz Inc. and Canada-based pension fund CDPQ.
SM Energy Targets Prolific Dean in New Northern Midland Play
KeyBanc Capital Markets reports SM Energy’s wells “measure up well to anything being drilled in the Midland Basin by anybody today.”
Equinor Acquires Stake in Standard Lithium Smackover Projects
Equinor’s transaction, completed effective May 7, includes interests in Standard Lithium’s flagship South West Arkansas Project and East Texas properties.
Ørsted Exec: Offshore Wind Picking Up Speed, Despite Challenges
The offshore wind sector is regaining momentum in the U.S., with 250 turbines coming in the next three years compared to seven a year ago, said Troy Patton, head of program execution for Ørsted Americas.
E&P BW Energy Undergoes ‘Technical’ Ownership Restructuring
The restructuring will not involve any change to the ultimate control of BW Energy as the shares currently held by BW Group will be sold to BW Energy Holdings.
Vår Selling Norne Assets to DNO
In exchange for Vår’s producing assets in the Norwegian Sea, DNO is paying $51 million and transferring to Vår its 22.6% interest in the Ringhorne East unit in the North Sea.
Hess Midstream Subsidiary Plans Private Offering of Senior Notes
The proposed issuance is not expected to have a meaningful impact on Hess Midstream’s leverage and credit profile, according to Fitch Ratings.
Crescent Energy: Bigger Uinta Frac Now Making 60% More Boe
Crescent Energy also reported companywide growth in D&C speeds, while well costs have declined 10%.
Evolution Petroleum Sees Production Uplift from SCOOP/STACK Deals
Evolution Petroleum said the company added 300 gross undeveloped locations and more than a dozen DUCs.