Discoveries

E&P Highlights: March 10, 2025

Here’s a roundup of the latest E&P headlines, from a new discovery by Equinor to several new technology announcements.

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Crude Oil

What's Affecting Oil Prices This Week? (March 10, 2025)

Prices were weighed down by concerns about economic growth, in part, because of more tariffs being imposed by the Trump administration, and OPEC+ reiterating that its production cuts would start unwinding in April.

Trade

DOE Secretary Wright Grants Delfin LNG Extension for Exports

Delfin LNG's floating LNG export project in the Gulf of Mexico is authorized to export up to 1.8 Bcf/d, U.S. Energy Secretary Chris Wright said at CERAWeek.

Acquisitions & Divestitures

Summit Acquires Moonrise Midstream Assets to Alleviate D-J Constraints

A Summit Midstream Corp. (SMC) subsidiary will acquire Moonrise Midstream from Fundare Resources Co. in a cash-and-stock deal valued at $90 million.

Acquisitions & Divestitures

Whitecap, Veren Enter $10.4B Merger of Western Canadian Basin E&Ps

Whitecap Resources and Veren Inc. will create the largest light oil and condensate producer in the Alberta Montney and Kaybob Duvernay in an all-share combination valued at CA$15 billion (US$10.43 billion).

IPO

Utica Oil Player Ascent Resources ‘Considering’ an IPO

The 12-year-old privately held E&P Ascent Resources produced 2.2 Bcfe/d in the fourth quarter, including 14% liquids from the liquids-rich eastern Ohio Utica.

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Lone Star State of Mind: Rockcliff Energy III Sets Sights on Texas Shale Assets

Rockcliff Energy III Executive Chairman Alan Smith and CEO Sheldon Burleson have their Quantum Capital-backed company’s Texas-sized ambition focused on the western Haynesville and the Eagle Ford.

Pickering Prognosticates 2025 Political Winds and Shale M&A