Executives at BP, Sempra Infrastructure and the American Petroleum Institute weighed in on U.S. natural gas prowess and the obstacles that could stand in the way: snagged permitting, prohibitive steel tariffs and layoffs of federal workers needed to approve projects.
A Summit Midstream Corp. (SMC) subsidiary will acquire Moonrise Midstream from Fundare Resources Co. in a cash-and-stock deal valued at $90 million.
Norwegian oil and gas producer DNO ASA will acquire Sval Energi Group AS’ shares from private equity firm HitecVision.
Amplify Energy Corp. is moving forward on a deal to buy Juniper Capital portfolio companies North Peak Oil & Gas Holdings LLC and Century Oil and Gas Holdings LLC in the Denver-Julesburg and Powder River basins for $275.7 million, including debt.
Mark E. Lashier, Phillips 66 chairman and CEO, said Elliott Investment Management’s proposals have devolved into a “series of attacks” after the firm proposed seven candidates for the company’s board of directors.
The Midland Basin depleted its inventory of excess DUCs the most last year, falling from two months of runway to one during the past year, according to a report by Enverus Intelligence Research.
Nabors Industries’ blank check company will merge with e2Companies at a time when oilfield service companies are increasingly seeking on-site power solutions for E&Ps in the oil patch.
Activist investor Elliott Capital Management disclosed Feb. 11 it has built a $2.5 billion position in Phillips 66 and issued a series of initiatives, including the sale or spinning off of the company’s midstream assets.
Prairie Operating Co. will purchase about 24,000 net acres from Bayswater Exploration & Production, which will still retain assets in Colorado and continue development of its northern Midland Basin assets.
Following its $22.5 billion deal to buy Marathon Oil, ConocoPhillips is targeting $2 billion in asset sales— a goal a company executive said would largely be achieved this year.
