Latest From Hart Energy
Phillips 66 Reaches Milestone at San Francisco Bay Area Refinery
By the end of second-quarter 2024, Phillips 66 aims to have the complex finished and producing more than 50,000 bbl of renewable fuels.
Deepwater Roundup 2024: Offshore Africa
Offshore Africa, new projects are progressing, with a number of high-reserve offshore developments being planned in countries not typically known for deepwater activity, such as Phase 2 of the Baleine project on the Ivory Coast.
SLB to Buy Service Firm ChampionX in $7.7B All-stock Deal
SLB will acquire ChampionX for $7.74 billion in an all-stock deal that puts a 14.6% premium on ChampionX’s April 1 closing price.
Midstream, Liquefied Natural Gas (LNG), Natural Gas liquids (NGL), Crude Oil, Infrastructure, Energy Storage, Hydrogen, Shale Plays, Acquisitions & Divestitures, Mergers, Storage, Construction, Pipelines
Kinder Morgan Exec: Don’t Count Out Midstream in M&A Frenzy
Kinder Morgan’s Allen Fore said 2024 should be an ‘interesting’ year in M&A during a discussion at DUG GAS+ Conference and Expo.
Hart Energy Exclusive, DUG Haynesville, Acquisitions & Divestitures, Policy & Regulations, Natural Gas, Liquefied Natural Gas (LNG)
Chesapeake, Awaiting FTC's OK, Plots Southwestern Integration
While the Federal Trade Commission reviews Chesapeake Energy's $7.4 billion deal for Southwestern Energy, the two companies are already aligning organizational design, work practices and processes and data infrastructure while waiting for federal approvals, COO Josh Viets told Hart Energy.
API Gulf Coast Head Touts Global Emissions Benefits of US LNG
The U.S. and Louisiana have the ability to change global emissions through the export of LNG, although new applications have been frozen by the Biden administration.
Kimmeridge-SilverBow Public Feud Gets Ugly as Firm Suggests New Directors
Kimmeridge Energy Management said in a letter that should SilverBow continue to “stonewall” consideration of a merger offer, shareholders should elect three new independent board members.
E&P Highlights: April 1, 2024
Here’s a roundup of the latest E&P headlines, including new contract awards.
Hess Pushes Shareholders to Vote in Favor of $53B Chevron Merger
Hess Corp.’s board is unanimously recommending its shareholders vote in favor of the proposed $53 billion all-stock merger with Chevron Corp., according to Chevron’s March 28 Securities and Exchange Commission filing.
Enbridge Sells Off NGL Pipeline, Assets to Pembina for $2.9B
With its deal to buy Enbridge’s NGL assets closed, Canada's Pembina Pipeline raised EBITDA guidance for 2024.
CEO: EQT Positioned to Meet Demand of Power-guzzling AI Data Centers
EQT Corp.’s Toby Rice said demand for AI could exceed the power demand required to meet U.S. residential demand and jump 20% by 2030, in this Hart Energy Exclusive interview.
BOEM Announces Next Steps for GoM Lease Sales 262, 263, 264
BOEM said Lease Sale 262 is expected to take place in 2025.
What's Affecting Oil Prices This Week? (April 1, 2024)
Stratas Advisors forecasts that OPEC+ will continue to manage supply in a proactive manner while non-OPEC supply growth is expected to be more modest during 2024 and 2025 than seen in 2023.
APA Closes $4.5B Callon Deal, Deepening Permian Roots
About two-thirds of Apache’s daily production will come from the Permian Basin after APA Corp. completed its $4.5 billion takeout of Callon Petroleum.
Dorchester Minerals Buys Interests in Two Colorado Counties
Dorchester Minerals’ acquisition totals approximately 1,485 net royalty acres for roughly $17 million.
AI Copilot, Not Captain: Pragmatic Cybersecurity to Protect Grid
AI experts at CERAWeek by S&P Global issued a wake-up call for the energy sector, suggesting AI could help secure critical infrastructure in a hostile geopolitical landscape.
Woodside Brings in the Know-how
Woodside Energy Group CEO Meg O’Neill is relying on technical sophistication to guide the Australian giant as it takes on three challenging projects in the U.S. Gulf of Mexico.
The OGInterview: How do Woodside's Growth Projects Fit into its Portfolio?
Woodside Energy CEO Meg O'Neill discusses the company's current growth projects across the globe and the impact they will have on the company's future with Hart Energy's Pietro Pitts.
Aethon Cuts Rigs but Wants More Western Haynesville Acreage
Private gas E&P Aethon Energy has drilled some screamers in its far western Haynesville Shale play—and the company wants to do more in the area.
Energy Transition in Motion (Week of March 28, 2024)
Here is a look at some of this week’s renewable energy news, including proposals submitted to develop about 6.8 gigawatts of wind projects offshore Connecticut, Massachusetts and Rhode Island.
SLB to Acquire Majority Stake in Aker Carbon Capture
SLB and Aker Carbon Capture plan to combine their technology portfolios, expertise and operations platforms to bring carbon capture technologies to market faster and more economically, SLB said in a news release.
MidOcean Completes Acquisition of Tokyo Gas’ LNG Interests in Australia
EIG’s MidOcean Energy will acquire Tokyo Gas’ interests in the Gorgon LNG, Pluto LNG and Queensland Curtis LNG projects.
CERAWeek: Tecpetrol CEO Touts Argentina Conventional, Unconventional Potential
Tecpetrol CEO Ricardo Markous touted Argentina’s conventional and unconventional potential saying the country’s oil production would nearly double by 2030 while LNG exports would likely evolve over three phases.
DUG GAS+: Chesapeake in Drill-but-don’t-turn-on Mode
COO Josh Viets said Chesapeake is cutting costs and ready to take advantage once gas prices rebound.
CERAWeek: Trinidad Energy Minister on LNG Restructuring, Venezuelan Gas Supply
Stuart Young, Trinidad and Tobago’s Minister of Energy, discussed with Hart Energy at CERAWeek by S&P Global, the restructuring of Atlantic LNG, the geopolitical noise around inking deals with U.S.-sanctioned Venezuela and plans to source gas from Venezuela and Suriname.
SilverBow Rejects Kimmeridge’s Latest Offer, ‘Sets the Record Straight’
In a letter to SilverBow shareholders, the E&P said Kimmeridge’s offer “substantially undervalues SilverBow” and that Kimmeridge’s own South Texas gas asset values are “overstated.”
Exclusive: Chevron Balancing Low Carbon Intensity, Global Oil, Gas Needs
Colin Parfitt, president of midstream at Chevron, discusses how the company continues to grow its traditional oil and gas business while focusing on growing its new energies production, in this Hart Energy Exclusive interview.
Elk Range Royalties Makes Entry in Appalachia with Three-state Deal
NGP-backed Elk Range Royalties signed its first deal for mineral and royalty interests in Appalachia, including locations in Pennsylvania, Ohio and West Virginia.
Baltimore Port Closure Could Dent US Coal Export Volumes, EIA Says
Baltimore handled exports of 28 million short tons last year, making up 28% of total U.S. coal exports.
Dallas Fed Energy Survey: Permian Basin Breakeven Costs Moving Up
Breakeven costs in America’s hottest oil play continue to rise, but crude producers are still making money, according to the first-quarter Dallas Fed Energy Survey. The situation is more dire for natural gas producers.