Latest From Hart Energy
Mountain Valley Venture Seeks Authorization for US Pipeline Projects
Testing of the Mountain Valley Pipeline for leaks and strength is complete.
What's Affecting Oil Prices This Week? (June 10, 2024)
Stratas Advisors says the latest EIA report illustrates that U.S. production growth has stagnated with U.S. oil production remaining at 13.1 MMbbl/d, which is unchanged from the previous 12 weeks.
Phillips 66 Calls Open Season for Blue Line NGL Transport
Phillips 66 Pipeline’s, a subsidiary of Phillips 66, NGL network Blue Line System provides services from Kansas to Missouri and Illinois.
Noble to Acquire Diamond Offshore Drilling for $1.6B in Cash, Stock
The combination of offshore drilling powerhouses Noble Corp. and Diamond Offshore Drilling will create the “leading tier one drillship fleet,” Noble said.
US Speeds Up Purchasing for Strategic Petroleum Reserve as Oil Prices Dip
President Joe Biden's administration said on June 6 it has increased purchasing of crude oil to replenish the Strategic Petroleum Reserve.
Exclusive: XCL Increases Production Amidst Lookout for More Inventory
XCL Resources is beginning its journey to acquire Altamont Energy, but in the meantime, the company is refining its operations in the Uinta Basin to find the perfect lateral length.
Diversified Closes $377MM Oaktree Acquisition
The acquisition grows Diversified Energy's scale, margins and free cash flow with the bolt-on of interests in Oklahoma, East Texas and Louisiana.
Petrobras to Reactivate ANSA Fertilizer Plant in Southern Brazil
Brazil’s state-owned Petrobras looks to restart operations at its Araucária Nitrogenados fertilizer plant, located in Brazil’s state of Paraná, in the second-half of 2025.
TotalEnergies Reserves Hull for Development Offshore Suriname
TotalEnergies operates Block 58, with partner APA Corp., and expects to make a final investment decision in fourth quarter 2024, while initial production is slated for 2028.
Energy Transition in Motion (Week of June 7, 2024)
Here is a look at some of this week’s renewable energy news, including the International Energy Agency’s forecast on clean energy investment reaching $2 trillion this year.
US Oil, Gas Rig Count Falls to Lowest Since January 2022
The oil and gas rig count, an early indicator of future output, fell by six to 594 in the week to June 7, decreasing for the second time in three weeks.
A Slippery Mess: Are Oil, Gas Interests Regulated Securities?
The murky overlap between securities laws and oil and gas interests could land individuals and companies on the wrong side of a securities-related investigation.
Texas Startup Hopes Fourth Time's a Charm to Build First Big US Oil Refinery Since 1977
Element Fuels Holdings, a Dallas-area startup proposing to build the first all-new U.S. oil refinery in nearly 50 years, on June 6 said it was relaunching efforts to build a large plant in South Texas.
NextEra, Entergy to Develop 4.5 GW of Solar, Energy Storage Projects
NextEra Energy and Entergy entered a 5-year joint development agreement to accelerate development of projects in Arkansas, Louisiana, Mississippi and Texas.
Hunting for Growth: Petro-Hunt Digs Deeper into Delaware, Williston
Dallas-based Petro-Hunt, one of the nation’s largest private oil and gas producers, is drilling in the Permian and Williston basins—and keeping an eye out for accretive M&A.
Canada's Oil Sands CEOs Push Back Against Proposed Oil, Gas Emissions Cap
The oil and gas sector is Canada's highest-polluting industry, accounting for more than a quarter of all emissions.
Exclusive: ABS Moving Forward with Offshore CCUS Projects
Experts from offshore operator ABS discuss the company’s sustainability measures for marine and offshore industries and limitations with decarbonization techniques, in this Hart Energy Exclusive interview.
Golden Pass LNG Likely Delayed After Engineering Firm Lays Off 4,400
An analyst estimated Golden Pass LNG’s in-service date could be set back six months and that the export terminal’s owners, Exxon Mobil and Qatar Energy, might try to retain workers formerly employed by Zachry Engineering.
Regional Banks Take Advantage of Large Lenders’ Oil, Gas Hesitancy
Regional banks are picking up market share and rallying the U.S. upstream sector.
Aker to Provide EPC Services for Azule Energy’s Angola Projects
Aker Solutions secured a long term frame agreement worth between $47 million and $142 million with Azule Energy to provide EPC services for brownfield projects and modifications for two FPSOs in Angola.
Element Fuels Progresses Plans for Hydrogen-powered Refinery, Power Plant
Construction for Element Fuels Holdings’ low-carbon fuels complex is expected to begin in first-quarter 2025, the company says.
Vital Energy’s 57 Miles of Completed Lateral: A Midland Mega-unit
Vital Energy’s 20-well unit in southwestern Glasscock County, Texas, is producing some 18,000 bbl/d from some 300,000 feet of horizontal hole — the equivalent of more than two marathons.
Weatherford to Deliver Drilling Services to Bapco Upstream in Bahrain
The contract with Bapco Energy subsidiary Bapco Upstream replaces Weatherford’s old drilling services contract from 2015.
TotalEnergies Buys UK Power Plant from EIG for $575MM
TotalEnergies signed an agreement with EIG, an institutional investor in the global energy sector, for the acquisition of all the shares of West Burton Energy for an enterprise value of £450 million (US$575 million).
BlackRock, Citadel to Launch Texas Stock Exchange
The exchange, which has raised about $120 million, plans to file registration documents with the U.S. Securities and Exchange Commission to start operating as a national securities exchange later this year, TXSE said on June 5.
Family Offices: Familiar and New Names Coming to Oil, Gas Table
Haynes and Boone semi-annual surveys of oil and gas lenders and producers reveal measured optimism capital formation—and a broader audience of family offices than seen in prior decades is tuning in.
UGI to Offer $600MM in Senior Notes Due 2028
UGI intends to use the net proceeds from the offering to refinance the company’s existing indebtedness, including under UGI’s senior credit facility and its subsidiaries, and for general corporate purposes.
CNOOC Makes Major Discovery in South China Sea
CNOOC said the Lingshui 36-1 gas field has been tested to produce over 10 MMcm/d of open flow natural gas.
Industry Angst Mounts as Treasury Weighs Hydrogen Tax Credit Rules
The U.S. Treasury Department will determine the final rules on how hydrogen producers qualify for 45V, the hydrogen production tax credit.
Exxon Mobil Taps Technip, Turner for Louisiana CCUS Project
Exxon Mobil has contracted Technip Energies and Turner Industries to help build a CCUS system capable of conditioning, compressing and transporting, for eventual storage, up to 800,000 metric tons per year of CO2.