Latest From Hart Energy
PHX Minerals’ Borrowing Base Reaffirmed
PHX Minerals said the company’s credit facility was extended through Sept. 1, 2028.
Exclusive: The Politics, Realities and Benefits of Natural Gas
Replacing just 5% of coal-fired power plants with U.S. LNG — even at average methane and greenhouse-gas emissions intensity — could reduce energy sector emissions by 30% globally, says Chris Treanor, PAGE Coalition executive director.
Energy Transition in Motion (Week of April 19, 2024)
Here is a look at some of this week’s renewable energy news, including the latest on global solar sector funding and M&A.
Renewed US Sanctions to Complicate Venezuelan Oil Sales, Not Stop Them
Venezuela’s oil exports to world markets will not stop, despite reimposed sanctions by Washington, and will likely continue to flow with the help of Iran—as well as China and Russia.
US Drillers Add Oil, Gas Rigs for First Time in Five Weeks
The oil and gas rig count, an early indicator of future output, rose by two to 619 in the week to April 19.
Strike Energy Updates 3D Seismic Acquisition in Perth Basin
Strike Energy completed its 3D seismic acquisition of Ocean Hill on schedule and under budget, the company said.
FERC Again Approves TC Energy Pipeline Expansion in Northwest US
The Federal Energy Regulatory Commission shot down opposition by environmental groups and states to stay TC Energy’s $75 million project.
Eversource to Sell Sunrise Wind Stake to Ørsted
Eversource Energy said it will provide service to Ørsted and remain contracted to lead the onshore construction of Sunrise following the closing of the transaction.
Shipping Industry Urges UN to Protect Vessels After Iran Seizure
Merchant ships and seafarers are increasingly in peril at sea as attacks escalate in the Middle East.
Paisie: Crude Prices Rising Faster Than Expected
Supply cuts by OPEC+, tensions in Ukraine and Gaza drive the increases.
Brett: Oil M&A Outlook is Strong, Even With Bifurcation in Valuations
Valuations across major basins are experiencing a very divergent bifurcation as value rushes back toward high-quality undeveloped properties.
Marketed: BKV Chelsea 214 Well Package in Marcellus Shale
BKV Chelsea has retained EnergyNet for the sale of a 214 non-operated well package in Bradford, Lycoming, Sullivan, Susquehanna, Tioga and Wyoming counties, Pennsylvania.
Defeating the ‘Four Horsemen’ of Flow Assurance
Service companies combine processes and techniques to mitigate the impact of paraffin, asphaltenes, hydrates and scale on production—and keep the cash flowing.
Santos’ Pikka Phase 1 in Alaska to Deliver First Oil by 2026
Australia's Santos expects first oil to flow from the 80,000 bbl/d Pikka Phase 1 project in Alaska by 2026, diversifying Santos' portfolio and reducing geographic concentration risk.
Ozark Gas Transmission’s Pipeline Supply Access Project in Service
Black Bear Transmission’s subsidiary Ozark Gas Transmission placed its supply access project in service on April 8, providing increased gas supply reliability for Ozark shippers.
Exclusive: Building Battery Value Chain is "Vital" to Energy Transition
Srini Godavarthy, the CEO of Li-Metal, breaks down the importance of scaling up battery production in North America and the traditional process of producing lithium anodes, in this Hart Energy Exclusive interview.
Kinder Morgan Sees Need for Another Permian NatGas Pipeline
Negative prices, tight capacity and upcoming demand are driving natural gas leaders at Kinder Morgan to think about more takeaway capacity.
BP Restructures, Reduces Executive Team to 10
BP said the organizational changes will reduce duplication and reporting line complexity.
High Interest Rates a Headwind for the Energy Transition
Persistent high interest rates will make transitioning to a net zero global economy much harder and more costly, according to Wood Mackenzie Head of Economics Peter Martin.
Matador Resources Announces Quarterly Cash Dividend
Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
EQT Declares Quarterly Dividend
EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Scotland Ditches 2030 Climate Target to Cut Emissions by 75%
Scotland was constrained by cuts to the capital funding it receives from the British government and an overall weakening of climate ambition by British Prime Minister Rishi Sunak, said Mairi McAllan, the net zero secretary for Scotland's devolved government.
Iraq to Seek Bids for Oil, Gas Contracts April 27
Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country.
Triangle Energy, JV Set to Drill in North Perth Basin
The Booth-1 prospect is planned to be the first well in the joint venture’s —Triangle Energy, Strike Energy and New Zealand Oil and Gas — upcoming drilling campaign.
EIA: Permian, Bakken Associated Gas Growth Pressures NatGas Producers
Near-record associated gas volumes from U.S. oil basins continue to put pressure on dry gas producers, which are curtailing output and cutting rigs.
Exclusive: Mitsubishi Power Plans Hydrogen for the Long Haul
Mitsubishi Power is looking at a "realistic timeline" as the company scales projects centered around the "versatile molecule," Kai Guo, the vice president of hydrogen infrastructure development for Mitsubishi Power, told Hart Energy's Jordan Blum at CERAWeek by S&P Global.
Benchmark Closes Anadarko Deal, Hunts for More M&A
Benchmark Energy II closed a $145 million acquisition of western Anadarko Basin assets—and the company is hunting for more low-decline, mature assets to acquire.
US Orders Most Companies to Wind Down Operations in Venezuela by May
The U.S. Office of Foreign Assets Control issued a new license related to Venezuela that gives companies until the end of May to wind down operations following a lack of progress on national elections.
Google Exec: More Collaboration Needed for Clean Power
Tech giant Google has partnered with its peers and several renewable energy companies, including startups, to ramp up the presence of renewables on the grid.
PGS, TGS Merger Clears Norwegian Authorities, UK Still Reviewing
Energy data companies PGS and TGS said their merger has received approval by Norwegian authorities and remains under review by the U.K. Competition Market Authority.