Latest From Hart Energy
Ithaca Energy to Buy Eni's UK Assets in $938MM North Sea Deal
Eni, one of Italy's biggest energy companies, will transfer its U.K. business in exchange for 38.5% of Ithaca's share capital, while the existing Ithaca Energy shareholders will own the remaining 61.5% of the combined group.
Venture Global Gets FERC Nod to Process Gas for LNG
Venture Global’s massive export terminal will change natural gas flows across the Gulf of Mexico but its Plaquemines LNG export terminal may still be years away from delivering LNG to long-term customers.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.
Report: Crescent Midstream Exploring $1.3B Sale
Sources say another company is considering $1.3B acquisition for Crescent Midstream’s facilities and pipelines focused on Louisiana and the Gulf of Mexico.
Equitrans Midstream Announces Quarterly Dividends
Equitrans' dividends will be paid on May 15 to all applicable ETRN shareholders of record at the close of business on May 7.
BCCK, Vision RNG Enter Clean Energy Partnership
BCCK will deliver two of its NiTech Single Tower Nitrogen Rejection Units (NRU) and amine systems to Vision RNG’s landfill gas processing sites in Seneca and Perry counties, Ohio.
EIG’s MidOcean Closes Purchase of 20% Stake in Peru LNG
MidOcean Energy’s deal for SK Earthon’s Peru LNG follows a March deal to purchase Tokyo Gas’ LNG interests in Australia.
Clean Energy Begins Operations at South Dakota RNG Facility
Clean Energy Fuels’ $26 million South Dakota RNG facility will supply fuel to commercial users such as UPS and Amazon.
Texas LNG Export Plant Signs Additional Offtake Deal With EQT
Glenfarne Group LLC's proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp. to provide natural gas liquefaction services of an additional 1.5 mtpa over 20 years.
Deepwater Roundup 2024: Americas
The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.
Ohio Utica’s Ascent Resources Credit Rep Rises on Production, Cash Flow
Ascent Resources received a positive outlook from Fitch Ratings as the company has grown into Ohio’s No. 1 gas and No. 2 Utica oil producer, according to state data.
E&P Highlights: April 22, 2024
Here’s a roundup of the latest E&P headlines, including a standardization MoU and new contract awards.
US EPA Expected to Drop Hydrogen from Power Plant Rule, Sources Say
The move reflects skepticism within the U.S. government that the technology will develop quickly enough to become a significant tool to decarbonize the electricity industry.
For Sale? Trans Mountain Pipeline Tentatively on the Market
Politics and tariffs may delay ownership transfer of the Trans Mountain Pipeline, which the Canadian government spent CA$34 billion to build.
TotalEnergies to Acquire Remaining 50% of SapuraOMV
TotalEnergies is acquiring the remaining 50% interest of upstream gas operator SapuraOMV, bringing the French company's tab to more than $1.4 billion.
TotalEnergies Cements Oman Partnership with Marsa LNG Project
Marsa LNG is expected to start production by first quarter 2028 with TotalEnergies holding 80% interest in the project and Oman National Oil Co. holding 20%.
US Refiners to Face Tighter Heavy Spreads this Summer TPH
Tudor, Pickering, Holt and Co. (TPH) expects fairly tight heavy crude discounts in the U.S. this summer and beyond owing to lower imports of Canadian, Mexican and Venezuelan crudes.
Romito: Net Zero’s Costly Consequences, and Industry’s ‘Silver Bullet’
Decarbonization is generally considered a reasonable goal when presented within the context of a trend, as opposed to a regulatory absolute.
What's Affecting Oil Prices This Week? (April 22, 2024)
Stratas Advisors predict that despite geopolitical tensions, the oil supply will not be disrupted, even with the U.S. House of Representatives inserting sanctions on Iran’s oil exports.
Technip Energies Wins Marsa LNG Contract
Technip Energies contract, which will will cover the EPC of a natural gas liquefaction train for TotalEnergies, is valued between $532 million and $1.1 billion.
Galp Seeks to Sell Stake in Namibia Oilfield After Discovery, Sources Say
Portuguese oil company Galp Energia has launched the sale of half of its stake in an exploration block offshore Namibia.
Association: Monthly Texas Upstream Jobs Show Most Growth in Decade
Since the COVID-19 pandemic, the oil and gas industry has added 39,500 upstream jobs in Texas, with take home pay averaging $124,000 in 2023.
Energy Transfer Announces Cash Distribution on Series I Units
Energy Transfer’s distribution will be payable May 15 to Series I unitholders of record by May 1.
Exclusive: ‘Regulatory Tsunami’ a Top Priority for American Producers, Says AXPC’s Bradbury
Regulatory considerations have significant implications for how oil and gas companies evaluate risk, and it’s a top priority for American energy producers right now, said American Exploration & Production Council CEO Anne Bradbury at CERAWeek by S&P Global.
Balticconnector Gas Pipeline Back in Operation After Damage
The Balticconnector subsea gas link between Estonia and Finland was severely damaged in October, hurting energy security and raising alarm bells in the wider region.
Aker BP’s Hanz Subsea Tieback Goes Onstream
AKER BP’s project marks the first time subsea production systems have been reused on the Norwegian Continental Shelf.
Is Double Eagle IV the Most Coveted PE-backed Permian E&P Left?
Double Eagle IV is quietly adding leases and drilling new oil wells in core parts of the Midland Basin. After a historic run of corporate consolidation, is it the most attractive private equity-backed E&P still standing in the Permian Basin?
SLB’s ChampionX Acquisition Key to Production Recovery Market
During a quarterly earnings call, SLB CEO Olivier Le Peuch highlighted the production recovery market as a key part of the company’s growth strategy.
Wayangankar: Golden Era for US Natural Gas Storage – Version 2.0
While the current resurgence in gas storage is reminiscent of the 2000s —an era that saw ~400 Bcf of storage capacity additions — the market drivers providing the tailwinds today are drastically different from that cycle.
Biden Administration Criticized for Limits to Arctic Oil, Gas Drilling
The Bureau of Land Management is limiting new oil and gas leasing in the Arctic and also shut down a road proposal for industrial mining purposes.