Latest From Hart Energy
Mexico’s Demand for Permian Pipe-gas Likely Here to Stay
Permian gas producers exporting piped gas to Mexico can rest assured that demand south of the border will remain robust even under a new Mexican president, Wood Mackenzie says.
E&P Highlights: May 28, 2024
Here’s a roundup of the latest E&P headlines, including production start up at a field using an innovative emissions reduction technology.
Energy Transfer to Buy Permian Midstream Player WTG for $3.25B
Energy Transfer has agreed to purchase WTG Midstream Holdings’ assets, including Midland Basin core infrastructure, from Diamondback Energy, Stonepeak and the Davis Estate in a cash and stock deal.
Proxy Vote Preview: Chevron, Hess and Guyana Uncertainty
Chevron Corp. stockholders will vote on May 28 and Hess’ stakeholders on May 29 on a $53 million combination that largely centers on Hess’ stake offshore Guyana.
EOG Resources, BP, Shell Bid in Trinidad Oil and Gas Auction
BP, Shell and EOG Resources companies bid for the Modified UC Block, which is near to the Teak, Sammaan and Poui producing fields.
Martin Resource Offers to Buy Spinoff Martin Midstream for $100.3MM
Martin Resource Management created Martin Midstream through an IPO in 2002.
Equinor to Invest $1B in Troll West Gas Project
Equinor awarded contracts to OneSubsea and SLB in the Troll Field as part of efforts the further develop gas infrastructure offshore Norway.
Earthstone’s Anderson Relaunches, Seeks Conventional
The new E&P PetroPeak Energy will also take a look at unconventional property in the Eagle Ford and Austin Chalk.
Challenges to Funding Rapid Deployment of Energy Transition Technology
Enormous capital investments are needed to meet these public policy and societal goals according to the International Energy Agency (IEA), global investment in clean energy technology needs to be $4.5 trillion by the early 2030s if the Paris Agreement’s 2050 net-zero target is going to be reached.
Energy Transition in Motion (Week of May 24, 2024)
Here is a look at some of this week’s renewable energy news, including a ‘breakthrough’ for enhanced geothermal systems.
Analyst: Energy Companies Should Prepare for Tighter Methane Regulations
Regardless of election’s outcome, investors will take emission reduction plans into consideration.
US Drillers Cut Oil, Gas Rigs for Fourth Time in Five Weeks
The oil and gas rig count, an early indicator of future output, fell by four to 600 in the week to May 24 the lowest since January 2022.
Dividends Declared Week of May 20, 2024
Here is a selection of upstream and service and supply company dividends declared in the past week.
SEC Climate Rule: The Devil's in the Lack of Details
The Securities and Exchange Commission’s climate disclosure rules requires companies to report a lot of information — from greenhouse-gas emissions to potential weather impacts that could have a material business impact. But the devil’s in the lack of details.
Sell High, Invest Low: Kinetik CEO on Creating Value with Durango Deal
Kinetik CEO Jamie Welch walks through the company's process for acquiring Durango Permian, including selling its 16% stake in the Gulf Coast Express pipeline, and shares his takeaways on challenges in the Permian today, in this Hart Energy Exclusive interview.
Aker Solutions’ Consultancy Arm Renamed Entr
Aker Solution’s newly christened Entr plans to double its revenue and headcount by 2030.
Despite Sanctions Russia Still World’s Fourth Largest LNG Exporter
Russia ranked as the world’s fourth-largest LNG exporter in 2023, sending out cargoes of 30 mtpa. Russia’s LNG capacity could surpass 74 mtpa capacity by 2030, according to details published by Flex LNG.
Baker Hughes to Supply Compression Trains for Algerian Field
Baker Hughes will supply 20 compression trains, which are expected to boost gas production at Alergia’s Hassi R’ Mel gas field.
Mexico Presidential Frontrunner Likely to Continue Reliance on US Gas
Mexico’s leading presidential candidate Claudia Sheinbaum is likely to continue with the current policies of Mexican President AMLO, likely meaning a continued reliance of U.S. imported piped-gas.
Crescent’s Credit Score Found Positive Following $2.1B SilverBow Deal
Crescent Energy, which is in the process of buying SilverBow Resources, said ratings agencies Moody’s, Fitchand S&P Global reacted positively to the pending $2.1 billion deal.
Enerplus, Chord on Track to Close $4B Williston Deal on May 31
Enerplus Corp. shareholders will vote on the deal, which was already approved by Chord stockholders, on May 24.
The ‘Necessary Evil’ of Four-mile Laterals
While extended length lateral wells can lead to massive profits, the risk might not always be worth it. At Hart Energy’s SUPER DUG, Diamondback Energy, SLB, NOV and others weighed the risk and rewards of drilling three- and four-mile laterals.
Enbridge, EDF’s Fox Squirrel Solar Project Goes Online
Fox Squirrel, a solar project owned by Enbridge and developed by EDF Renewables North America, aims to help meet central Ohio’s increasing power demand, which could double by 2028.
Up to 50 Firms Seek US Oil Licenses in Venezuela, Official Says
Washington aims to prioritize issuing licenses to companies with existing oil output and assets over those seeking to enter the sanctioned OPEC nation for the first time, sources told Reuters.
Exxon Mobil Keeps Its Options Open in Guyana and Globally
Exxon Mobil Guyana Ltd.’s President Alistair Routledge said the company is seeking resources offshore Guyana that compete financially within its portfolio.
Avangrid to Upgrade Eversource’s Massachusetts Electric Grid
Avangrid will convert Eversource’s 115 kv line into a 345 kv line that will run from the Bourne Substation to the West Barnstable Substation in Massachusetts.
Exploration & Production, Acquisitions & Divestitures, ESG, Crude Oil, Natural Gas, Artificial Intelligence
Blankenship, Regens: More Demand, More M&A, More Regs
In 2024, the oil and gas industry is dealing with higher interest rates, armed conflicts in Europe and the Middle East, rising material costs, a decrease in Tier 1 acreage and new policies and laws.
UK's National Grid Seeks Buyer for Europe's Biggest LNG Terminal
Grain LNG terminal in Britain, Europe's largest such facility, will soon have the capacity to store and deliver enough gas to meet its target of about a third of the U.K.'s gas demand.
CEO: FireBird II Prowls Western Midland Basin for M&A, Deep Exploration
After selling the first FireBird Energy to Diamondback for $1.6 billion, the FireBird II team is adding leases and scaling oil production in the western Midland Basin, CEO Travis Thompson said at Hart Energy’s SUPER DUG Conference & Expo.
CEO: FireBird Energy Constantly Scouring the Midland Basin for Deals
Travis Thompson, CEO of FireBird Energy II, said the company has made about 13 acquisitions since its inception in April 2023 and currently has two rigs running.