Latest From Hart Energy
LandBridge Closes Deal for 46,000 Surface Acres in Delaware Basin
LandBridge Co., which held a successful IPO in August, added about 53,000 acres and now holds about 273,000 acres.
Dividends Declared Week of Dec. 16
As fourth-quarter 2024 nears its end, here is a compilation of dividends declared from select upstream, midstream and service and supply companies.
Paisie: With Oil Prices, It’s All About the Economy
One of the keys to pricing is whether global conflicts curtail the flow of oil. They have not.
Battalion Oil Walks Away from Fury Resources Buyout
The Battalion Oil-Fury Resources merger had been in discussions for more than a year, but Battalion said Fury failed to meet financial deadlines to continue the talks.
Surge Closes on Divestment of Alberta Non-Core Gas Assets
Surge Energy said it has focused on developing its core Sparky and southeast Saskatchewan crude oil assets, leaving the Alberta non-core assets undercapitalized.
Kissler, Wyett: Trump Tariffs and Potential Energy Market Aftershocks
U.S. production and prices may increase; global cooperation may decrease; but Trump’s previous tariffs had less of an impact on import prices than the COVID pandemic.
Marketed: ConocoPhillips 5 Well Package in Niobrara Shale
ConocoPhillips Co. has retained EnergyNet for the sale of working interest participation in five wells located in Weld County, Colorado.
Energy Transfer’s Lake Charles LNG Closer to FID with Chevron Deal
Energy Transfer entered a 20-year agreement to supply Chevron with 2 mtpa of LNG from its Lake Charles LNG export facility, which is awaiting a final investment decision.
Permanent Magnets Emerge as a Game-Changer for ESP Technology
In 2024, permanent magnet motors installations have ballooned to 11% of electric submersible pump installations, and that number is growing.
Kinder Morgan Reaches FID for $1.4B Mississippi NatGas Pipeline
Kinder Morgan plans to keep boosting its capacity to the Southeast and is moving forward with a 206-mile pipeline with an initial capacity of 1.5 Bcf/d.
Exxon Mobil Completes Purchase of FPSO Offshore Guyana
Exxon Mobil Corp. paid $535 million to SBM Offshore for the FPSO, which will operate the unit through 2033.
NatGas Rally Reaches 2024 Peak, Highest Price in Two Years
Analysts say the gas market remains volatile as prices surpass $3.50/MMbtu at the Henry Hub for the first time in about two years.
Rising Phoenix Names Executive as New Director of Capital
Rising Phoenix Capital appointed Ben Fujihara, a tenured financial executive, to oversee the company’s capital strategy, investor relations and business development.
DNO, OKEA Trade Prospect Interests in Norwegian Sea
DNO picked up shares in the Mistral prospect of the Norwegian Sea while reducing its stake in the Horatio prospect.
Shell and Argentina’s YPF Agree on $50B LNG Development
Shell and YPF say they will partner to build the first LNG export project in Argentina.
Standard Lithium, Equinor Crank Up Direct Lithium Extraction Pilot Plant
SWA Lithium’s pilot plant in Arkansas is processing brine to confirm engineering design parameters, Standard Lithium says.
ProPetro Agrees to Provide Electric Fracking Services to Permian Operator
ProPetro Holding Corp. now has four electric fleets on contract.
Fervo Energy Adds $255 Million in Funding for Geothermal Projects
Fervo Energy secured $135 million in funding from Capricorn Investment and a $120 million letter of credit from Mercuria.
Matador’s Stake in San Mateo JV Rises to $1.5B After Pipeline Deal
Matador Resources closed a deal adding subsidiary Pronto Midstream to its 51%-owned joint venture with Five Point Energy.
Ørsted Farms Down Stake in US Solar Projects in $572MM Deal
The deal was reached with Energy Capital Partners for stakes in Mockingbird Solar and Sparta Solar in Texas as well as Eleven Mile Solar in Arizona.
Diamondback Subsidiary to Invest $50MM in Verde Clean Fuels
Diamondback Energy subsidiary Cottonmouth Ventures LLC’s investment will consist of buying 12.5 million shares of Verde Class A common stock, making Cottonmouth the company’s second largest shareholder.
Woodside, Chevron Agree to Swap Oil, LNG Assets
Woodside and Chevron have entered an agreement that shifts interests in oil, LNG and carbon capture projects with Chevron also paying Woodside $400 million.
EY: Three Themes That Will Drive Transformational M&A in 2025
Prices, consolidation and financial firepower will push deals forward, says EY.
Power Co. Proposes NatGas Plants Near Texas Haynesville Shale
An American Electric Power (AEP) subsidiary plans to develop two natural gas-fired generation projects near the prolific Texas Haynesville shale play.
Health, Safety & Environment, Exports, Legislation, Tankers, Liquefied Natural Gas (LNG), Natural Gas
Analysts: DOE’s LNG Study Will Result in Few Policy Changes
However, the Department of Energy’s most recent report will likely be used in lawsuits against ongoing and future LNG export facilities.
Reliance Exercises Four-Well Option on Transocean Rig
Transocean Ltd. says the 270-day program will contribute about $111 million in backlog.
Oil States Closes $24.8MM Ship Channel Sale
Oil States International Inc. said proceeds from the “previously idled” Houston Ship Channel facility’s sale will be used toward debt reduction.
Petrobras Awards Seadrill Two Drillship Contracts Off Brazil
Seadrill said the West Jupiter and West Tellus contracts both have a three-year duration and will add nearly $1 billion to the company’s backlog.
Pipeline Tech Firm TDW Merges with Petro-Line
The move to merge with Canadian pipeline repair firm Petro-Line expands TDW’s service options for the midstream sector.
Legislation, Health, Safety & Environment, Infrastructure, Exports, Crude Oil, Natural Gas, Liquefied Natural Gas (LNG), Petrochemicals
Commentary: Maximizing the Opportunity for Energy Dominance
Energy produced in the U.S. already has a strong grip on global markets. But with the country on the cusp of a new regulatory environment, will the U.S. capitalize on the opportunity to maximize energy dominance?