Latest From Hart Energy
Policy & Regulations, Pipelines, Emissions, Health, Safety & Environment, Crude Oil, Liquefied Natural Gas (LNG)
Supreme Court’s Uinta Basin Rail Case Raises Stakes for LNG, Pipelines
The lawsuit, involving crude transport via railway in the Uinta Basin, is part of a larger intragovernmental fight that could have implications for how FERC decides pipeline and LNG plant permitting.
Eni Reports Discovery Offshore Mexico in Block 9
Italian energy giant Eni SpA announced a discovery at the Yopaat-1 EXP exploration well in the offshore Mexico Block 9 of the Cuenca Salina in the Sureste Basin, which potential up to 400 MMboe in place.
Solaris to Acquire Mobile Energy Rentals, Rename to Solaris Energy Infrastructure
Following the closing of its deal to acquire Mobile Energy Rentals, Solaris Oilfield Infrastructure will also be rebranding to Solaris Energy Infrastructure to more closely represent its expanded solutions offerings.
Honeywell Bags Air Products’ LNG Process, Equipment Business for $1.8B
Honeywell is growing its energy transition services offerings with the acquisition of Air Products’ LNG process technology and equipment business for $1.81 billion.
Blackstone Buys Enagás’ Tallgrass Stake for $1.1 Billion
Spain’s Enagás is selling its Tallgrass Energy interests to Blackstone Infrastructure Partners in exchange for some needed capital.
Golden Pass LNG’s not so Golden Days
The $9.25 billion Golden Pass LNG project is arguably not having a golden moment at eight months behind schedule and some $2 billion over budget. Owners QatarEnergy and Exxon Mobil Corp. have begun damage control.
M&A Values: Permian Still No. 1 as U.S. Average Falls Sharply
Gas-weighted assets’ M&A values have declined with gas futures since 2022, according to J.P. Morgan Securities analysis.
Reservoir Evaluation, Field Development, Emerging Plays, Discoveries, Service & Supply, Exploration & Production
E&P Highlights: July 10, 2024
Here’s a roundup of the latest E&P headlines including TotalEnergies exiting South Africa to focus on opportunities in Namibia.
Nature’s Way: Biotech Companies Capturing Carbon, Revenue
Executives from Occidental Petroleum-backed Cemvita, Carbon Optimum and Novozyme share insights into how CO2 could be used for biofuels, fertilizer, food, proteins, plastics and even oil.
Post Oak, Genesis Park Sell Permian’s Layne Water Midstream
PE firms Post Oak Energy Capital and Genesis Park sold the Delaware Basin’s Layne Water Midstream to an undisclosed buyer.
Freeport LNG Readying Operation Restart After Hurricane Beryl, Sources Say
The facility is not expected to resume shipments of LNG until the port of Freeport, which is operating under vessel transit restrictions, fully reopens.
Diversified to Buy East Texas NatGas Assets from Crescent Pass
Diversified Energy’s $106 million deal with Crescent Pass Energy comes during a prolonged dip in natural gas prices that some analysts expect to rebound as demand ramps up for LNG exports and power demand.
BPX Expands Its US Shale Game
BPX CEO Kyle Koontz delves into development plans in the Permian, Eagle Ford and Haynesville.
Offshore Guyana: ‘The Place to Spend Money’
Exxon Mobil, Hess and CNOOC are prepared to pump as much as $105 billion into the vast potential of the Stabroek Block.
ChampionX Closes Acquisition of Artificial Lift Company RMSpumptools
ChampionX, which is being acquired by SLB for $7.7 billion, bought RMSpumptools Ltd. for about $110 million.
Shell Trinidad Takes FID at Manatee Offshore Gas Field
Shell Trinidad and Tobago Ltd. has taken FID on the Manatee cross-border gas field. Manatee will start production in 2027 and at its peak add 104,000 boe/d or 604 MMcf/d of natural gas to Trinidad’s production profile.
Eversource, Ørsted Close Sunrise Wind Sale Offshore NY
Eversource sold its 50% stake in the wind farm offshore New York to Ørsted for $152 million.
Darbonne: The Tesla, the Airport, a Scandal and a Swimming Pool
The summer of 2024 won’t be powered by an EV. And it won’t be in the Anthropocene epoch.
Gulf Coast Ports Slowly Reopening to LNG After Beryl Strikes
With more than 2 million without power in the Houston area following Hurricane Beryl’s July 8 landfall, and little information on outages from CenterPoint Energy, a workaround can be found using the Whataburger app.
Dominion Buys Avangrid’s Kitty Hawk Offshore Wind Lease for $160MM
Avangrid agrees to sell Kitty Hawk North offshore wind lease for $160 million to a subsidiary or Dominion Energy.
FERC Re-affirms Tellurian Extension Request for Driftwood LNG
The Federal Energy Regulatory Commission upheld its earlier decision following the Sierra Club’s request for another hearing on Driftwood LNG’s 2029 completion date.
Chevron, Exxon Among Players Getting to FID, Locking in Hydrogen Offtake
Hydrogen players Chevron Corp., Mitsubishi Power and Exxon Mobil are working to find buyers and pursue incentives to move projects forward.
Canadian Solar’s e-STORAGE Lands Battery Storage Project in Texas
Located in Fort Bend County, the Bypass project will use 106 units of e-STORAGE’s SolBank 3.0.
Occidental’s 1PointFive Agrees to Sell Carbon Credits to Microsoft
1PointFive said the agreement marks the largest single purchase of CO2 removal credits enabled by direct air capture to date.
Oil Slips as Concerns Over Hurricane Damage Ease
Though Beryl hit a key U.S. oil-producing hub in Texas, the hurricane caused less damage than markets had expected.
Oil Companies in Texas Restoring Operations Following Hurricane Beryl
Beryl's impact on oil and gas production is expected to be minor.
D-J’s Elevation Midstream, ARB Midstream Subsidiary to Merge
Elevation Midstream and Platte River Holdings, a subsidiary of ARB Midstream, are merging to create a D-J Basin midstream company of scale.
Beryl Makes Landfall East of U.S.’ Largest Energy Export Gateway Corpus Christi
Tropical storm Beryl made landfall in Texas as a Category 1. Life-threatening storm surges are expected to continue along the coast of Texas from Port O’Connor to Sabine Pass, including the eastern portion of Matagorda Bay and Galveston Bay, according to the National Hurricane Center.
What's Affecting Oil Prices This Week? (July 8, 2024)
During third-quarter 2024, Stratas Advisors are forecasting that the price of Brent crude will average $87.90 and the price of WTI will average $82.37.
Crescent-SilverBow Deal Leaps Last FTC Hurdle
The ending of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act satisfies an important condition needed to complete Crescent Energy Co.’s acquisition of SilverBow Resources.