Latest From Hart Energy
APA Group to Build Pipeline in Expanding Australian Gas Play
APA Group will build and operate a 12-inch, 23-mile natural gas pipeline for a proposed 40-MMcf/d pilot drilling project in Australia.
NorthWestern Signs LOI to Power Montana Data Centers
NorthWestern Energy expects to generate 50 megawatts for datacenters beginning in 2027.
Natron Energy Appoints New CEO
Sodium ion battery technology company Natron Energy has appointed Wendell Brooks as the company’s new CEO to lead growth initiatives in 2025.
LongPath Ditches Up-in-the-Air Tech for Emissions Reduction Closer to Ground
LongPath Technologies has received a federal loan to develop a monitoring network and conditional approval from the state of New Mexico for use of its system at oil and gas operations.
Talos Sells More of Mexican Subsidiary to Billionaire Carlos Slim
Talos Energy has agreed to sell another 30.1% interest in subsidiary Talos Mexico to entities controlled by billionaire Carlos Slim, whose companies also own at least 24% of Talos Energy’s common stock.
Kosmos Breaks Off Talks to Acquire UK’s Tullow
Kosmos Energy Ltd. gave no reason for breaking off acquisition talks with Tullow Oil, which the companies had said were at a preliminary stage.
Exxon’s Custom, Lightweight Proppant Boosts Permian EURs by 15%
Exxon is lowering drilling and completion costs, boosting EURs by 15% with custom proppant and considering upside from less developed Permian Basin zones.
Field Development, Conventional, Crude Oil, Natural Gas, Shale Plays, Exploration & Production, Acquisitions & Divestitures, Artificial Intelligence, Deepwater
E&P Highlights: Dec. 16, 2024
Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
Marketed: Berlin Resources Woodford Shale Opportunity
Berlin Resources has retained EnergyNet for the sale of working interest participation in McClain County, Oklahoma.
NOV Appoints Former Denbury CEO Chris Kendall to Board
NOV Inc. appointed former Denbury CEO Chris Kendall to its board, which has expanded to 11 directors.
Sources: LNG Pause Report Will Critique Sector on Prices, Environment
The Department of Energy study tied to the yearlong pause on LNG permits may be released as soon as Dec. 17.
TotalEnergies Sells Half of UK Gas Power Plant to Subsidiary of EPH
TotalEnergies acquired the power plant, called West Burton Energy, for US$473.4 million in June.
What's Affecting Oil Prices This Week? (Dec. 16, 2024)
For the upcoming week, Stratas Advisors expect oil prices will move sideways with more downside risk than upside potential.
BP, ADNOC Investment Firm Launch NatGas-Focused JV
BP and ADNOC agreed to establish a new regional gas firm, Arcius Energy, to focus on developing Egyptian gas assets.
Utica’s Encino Adds Former Marathon Director to Board
Brent J. Smolik, who most recently served on Marathon Oil’s board until its merger with ConocoPhillips, will join Encino Acquisition Partners as a director.
Freehold Closes $182MM Acquisition of Midland Basin Interests
Freehold Royalties’ acquisition from a private seller includes around 1,300 boe/d of net production and 244,000 gross drilling acres largely operated by Exxon Mobil and Diamondback Energy.
Segrist: Cooling the Reaction: Nuclear Makes Promising but Slow Comeback
Nuclear power is awesome. Nuclear power is also hard—and a long way off from displacing natural gas as the primary source for the electricity the U.S. will desperately need.
Vitesse Energy to Buy Bakken Pureplay Lucero in $220MM Deal
Vitesse Energy will acquire Lucero Energy’s Bakken/Three Forks assets, including 25 net remaining locations, 1.9 net DUCs and 20 wells that are candidates for recompletions.
Phillips 66 Sells Stake in Gulf Coast Express for $865MM
After the sale, the ownership of the line will be split between affiliates of ArcLight Capital Partners and subsidiaries of Kinder Morgan, which owns the operating interest in the pipeline.
Wildcatting is Back: The New Lower 48 Oil Plays
Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
China's CNOOC Sells US Assets to Britain's INEOS
The Chinese oil and gas major said CNOOC Energy Holdings U.S.A. entered into a sales agreement with a subsidiary of INEOS relating to CNOOC's upstream oil and gas assets in the U.S. part of the Gulf of Mexico.
Venture Global’s Plaquemines LNG Starts Production
Venture Global LNG reached a final investment decision on the 20 million metric tons per annum Plaquemines facility 30 months ago.
Partnership to Deploy Clean Frac Fleets Across Permian Basin
Diamondback Energy, Halliburton Energy Services and VoltaGrid are working together to deploy four advanced electric simul-frac fleets across the Permian in an effort to enhance clean and efficient energy solutions in the region.
Exclusive: Conduit, Riley Permian Powering Up the Permian
Beau Egert, chief commercial officer for Conduit Power, said Riley Exploration Permian is taking control of their own to provide power for their consumption and the community.
Energy Transition in Motion (Week of Dec. 13, 2024)
Here is a look at some of this week’s renewable energy news, including the latest on explosive growth in grid-scale energy storage installations.
PHX Minerals Explores Sale After Rejecting Acquisition Bids
PHX Minerals hired bankers to explore a potential merger or sale of the firm, which manages assets across the Midcontinent and Haynesville Shale play. PHX has rejected multiple unsolicited acquisition bids in the past two years.
EIA: NatGas Consumption, Led by Powergen, Set Records in 2023-’24
A spike in power generation demand is driving the U.S. to use natural gas, the Energy Information Administration reports.
Dividends Declared the Week of Dec. 9
Here is a compilation of dividends declared from select upstream, midstream and service and supply companies during the week of Dec. 9.
US Oil, Gas Rig Count Unchanged at 589 in Week to Dec. 13, Baker Hughes Says
U.S. energy firms this week operated the same number of oil and natural gas rigs as they did last week, according to Baker Hughes' weekly report.
Tethys Oil Suspends Kunooz-1 Well in Oman
The decision to suspend its Kunooz-1 exploration well comes after flow testing failed to confirm the presence of commercially-viable hydrocarbons, Tethys said.