Latest From Hart Energy
Repsol in Talks to Sell a Slice of its Renewable Business, Sources Say
Repsol would keep more than 50% of the unit in a transaction that could involve the investor injecting new money into the business, the sources said.
TotalEnergies to Invest $400MM in LPG
TotalEnergies is investing more than $400 million into LPG to provide more than 100 million people in Africa and Asia access to clean cooking methods by 2030.
Offshore Technology Conference (OTC), Artificial Intelligence, Mergers, Digital Oilfield, Artificial Lift
Exclusive: ChampionX Innovation Needed to Drill the Incremental Barrel
Soma Somasundaram, president and CEO of ChampionX, emphasized the need to innovate when drilling for the incremental barrel, as well as the oilfield services sector’s role in the path to net zero.
Linde Doubles Production Capacity at Gulf Coast Facility
Linde’s expansion of the production capacity at its air separation facility in La Porte, Texas, will help meet growing demand for industrial gases in the area.
Offshore Technology Conference (OTC), Artificial Intelligence, Drilling, Well Stimulation, Digital Oilfield, Completions, Artificial Lift, Water Management, Enhanced Oil Recovery, Subsea, Seismic
Tech Trends, OTC Edition: Drills & Bits
In this month’s Tech Trends, which takes place at the 2024 Offshore Technology Conference, new drilling technologies are on display as well as other bits that ensure efficient operations.
Gas Prices in a Summer of Discontent
In February, natural gas prices dropped below $2/MMBtu and stayed there. How is the market handling it, and when will the price pick back up?
Cheniere’s Next Corpus Christi LNG Stage Online by Year-end
Cheniere executives are optimistic the first LNG cargo will depart from Train 1 of its Corpus Christi Stage 3 project by the end of 2024, and that the company will bring all seven trains at the project online before the end of 2026.
OTC: E&Ps Improving Operational Safety with Digitization
Artificial intelligence and the digitization of the oilfield have allowed for several improvements in keeping operators out of harm’s way, panelists said during the 2024 Offshore Technology Conference.
Unconventional, Rig Counts, Reservoir Evaluation, Highlights, Field Development, Discoveries, Artificial Intelligence, Drilling, Subsea, Seismic
E&P Highlights: May 13, 2024
Here’s a roundup of the latest E&P headlines, with a couple fields coming online, as well as new contract awards.
Marketed: Berlin Resources Anadarko Basin Opportunity
Berlin Resources LLC has retained EnergyNet for the sale of an Anadarko Basin opportunity in the Donita 35/2 AP #1H in Roger Mills County, Oklahoma.
Marketed: Wayfinder Resources, KSE Minerals Five Well Package in Oklahoma
Wayfinder Resources Operating and KSE Minerals has retained EnergyNet for the sale of a Mississippian/ Woodford opportunity in Canadian County, Oklahoma.
PropFlow Names David Ward as CEO
As CEO, David Ward will lead and build out PropFlow’s operations of eliminating debris from proppant at well sites in the Permian Basin and other plays.
Worley to Design CCS Facilities for Bayou Bend JV
Bayou Bend is a carbon capture and sequestration joint venture between Chevron, TotalEnergies and Equinor located along the Gulf Coast in Texas.
What's Affecting Oil Prices This Week? (May 13, 2024)
For 2024, increasing supply will be more challenging unless U.S. producers start ramping up their capex and drilling programs beyond their current plans.
NextDecade Raises ‘Going Concern’ Doubts Amid Rio Grande LNG FID
NextDecade, which is developing the Rio Grande LNG project in Brownsville, once again highlighted “going concerns” in its SEC 10-Q filing but says Phase 1 of its project is fully financed and under construction.
ADNOC Drilling Secures $1.7B Contract for Unconventionals Recovery
ADNOC Drilling’s new incorporated company, Turnwell Industries, will deliver a total of 144 unconventional wells, as per the contract.
Enhanced Oil Recovery, Well Stimulation, Subsea, Deepwater, Offshore Technology Conference (OTC), Hart Energy Exclusive
Exclusive: Cost-effective Benefits of Extracting from Mature Assets
Baker Hughes' well abandonment leader Bart Joppe details the importance of extracting resources from mature assets and the company's approach to managing a well, in this Hart Energy Exclusive interview.
LM Energy to Expand Gas Gathering System in the Delaware
LM Energy is building new compressor stations and adding 70 miles of pipeline in the Delaware Basin.
ONEOK to Expand NGL Network Around Houston Through $280MM Acquisition
Easton Energy is agreeing to sell 450 miles of lines along Southeast Texas coast to ONEOK.
NANO Nuclear Energy Closes $10.25MM IPO
NANO Nuclear began trading on the Nasdaq Capital Market under the symbol NNE on May 8.
Dividends Declared in the Week of May 6
Here is a selection of upstream, midstream and service and supply companies’ dividends declared in the past week.
Permian M&A: Oxy Shops Delaware Assets, Family Oil Cos. Stand Out
As operators scour the Permian Basin for M&A opportunities, they’re keeping an eye on a tepid divestiture market. Family-owned oil companies also stand out among the pack of private inventory holders remaining in the Permian, according to Enverus Intelligence Research.
GeoPark, Vitol Sign Offtake Deal for Llanos 34 Block
Under the agreement, GeoPark will sell and deliver to Vitol a minimum of 20,000 bbl/d of oil from the Llanos 34 Block in Colombia, which GeoPark holds 45% working interest.
Enbridge Plans to Increase Permian Oil Pipeline’s Capacity
Midstream company Enbridge announced an open season on the Gray Oak Pipeline for a proposed 120,000 bbl/d expansion and updated its M&A efforts.
Energy Transition in Motion (Week of May 10, 2024)
Here is a look at some of this week’s renewable energy news, including $1.5 billion in investment commitments for low-carbon energy initiatives.
Geothermal Energy Talk Rises to the Surface at OTC
Experts discuss what it’ll take to advance geothermal energy and bring scale to the emerging power source.
US Drillers Cut Oil, Gas Rigs for Third Week in a Row
Baker Hughes said oil rigs fell three to 496 this week, their lowest since November, while gas rigs rose one to 103.
Chord Juggles Closing $4B Enerplus Deal, Plans to Drill 4-mile Laterals
Chord Energy expects to close its Enerplus acquisition by the end of May but, for now, is focused on three-mile and, eventually, four-mile laterals in the Williston Basin.
Crescent Energy: Bigger Uinta Frac Now Making 60% More Boe
Crescent Energy also reported companywide growth in D&C speeds, while well costs have declined 10%.
New Permian Math: Vital Energy and 42 Horseshoe Wells
Vital Energy anticipates making 42 double-long, horseshoe-shaped wells where straight lines would have made 84 wells. The estimated savings: $140 million.