Latest From Hart Energy
E&P Highlights: March 25, 2024
Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.
Marketed: Onyx Resources 23 Well Package in Texas
Onyx Resources has retained EnergyNet for the sale of a 23 well package plus 1,082.81 net leasehold acres in Archer, Clay, Fisher, Jones, Kent, Stephens, Taylor and Young counties, Texas.
Going Green? Kraft Seeks $170MM from DOE for ‘Delicious Decarbonization’
Kraft Heinz, a $43 billion food company, is seeking to reduce its annual emissions by 99% through a Department of Energy grant.
Exclusive: Renewables Won't Promise Affordable Security without NatGas
Greg Ebel, president and CEO of midstream company Enbridge, says renewables needs backing from natural gas to create a "nice foundation" for affordable and sustainable industrial growth, in this Hart Energy Exclusive interview.
DOE Considers Technip, LanzaTech For $200MM ‘Breakthrough’ Technology Award
The U.S. Department of Energy funding will be used to develop technology that turns CO2 into sustainable ethylene.
Par Pacific Asset-based Revolving Credit Bumped Up by 55%
The amendment increases Par Pacific Holdings’ existing asset-based revolving credit facility to $1.4 billion from $900 million.
ChampionX to Acquire RMSpumptools, Expanding International Reach
ChampionX said it expects the deal to extend its reach in international markets including the Middle East, Latin America and other global offshore developments.
What's Affecting Oil Prices This Week? (March 25, 2024)
On average, Stratas Advisors are forecasting that oil supply will be at a deficit of 840,000 bbl/d in 2024.
AI Advancing Underwater, Reducing Human Risk
Experts at CERAWeek by S&P Global detail the changes AI has made in the subsea robotics space while reducing the amount of human effort and safety hazards offshore.
Matador Completes NatGas Connections in Delaware Basin
Matador Resources completed natural gas pipeline connections between Pronto Midstream to San Mateo Midstream and to Matador’s acreage in the Delaware Basin.
Collaboration, not ‘Mythical’ Renewables will Solve Climate Crisis
Tinker Energy Associates CEO Scott Tinker is optimistic that a combination of passion, expertise and funding can solve the world’s existential crisis—if the right questions are asked.
Clean Harbors Closes $400MM Acquisition of HEPACO
Clean Harbors acquired HEPACO for $400 million, adding complementary services for environmental remediation and emergency response in the Eastern U.S.
Russia Orders Companies to Cut Oil Output to Meet OPEC+ Target
Russia plans to gradually ease the export cuts and focus on only reducing output.
Exxon, Vitol Execs: Marrying Upstream Assets with Global Trading Prowess
Global commodities trading house Vitol likes exposure to the U.S. upstream space—while supermajor producer Exxon Mobil is digging deeper into its trading business, executives said at CERAWeek by S&P Global.
TotalEnergies Restarts Gas Production at Tyra Hub in Danish North Sea
TotalEnergies said the Tyra hub will produce 5.7 MMcm of gas and 22,000 bbl/d of condensate.
The Need for Speed in Oil, Gas Operations
NobleAI uses “science-based AI” to improve operator decision making and speed up oil and gas developments.
Summit Midstream Sells Utica Interests to MPLX for $625MM
Summit Midstream is selling Utica assets to MPLX, which include a natural gas and condensate pipeline network and storage.
Argentina's Vaca Muerta Shale Formation Drives Record Oil Production in February
Argentina's Neuquen province hit a record for daily oil production in February.
Identified Need: Hydrogen Safety Standards in an Emerging Sector
Establishing fire protection measures remains critical for industry growth.
Energy Transition in Motion (Week of March 22, 2024)
Here is a look at some of this week’s renewable energy news, including a new modeling tool for superhot rock.
RIC Energy Sells Seven Solar Plants in New York to Radical Power
In recent months, RIC Energy sold 13 photovoltaic plants in the state of New York with a total capacity of 70 MW to various companies.
CERAWeek: Two Minutes with EQT’s Toby Rice on Energy Security
EQT Corp. President and CEO Toby Z. Rice spoke to Hart Energy on March 20 on the sidelines of CERAWeek by S&P Global to discuss natural gas infrastructure bottlenecks, energy security and the company’s advances on LNG.
US Gas Rig Count Falls to Lowest Since January 2022
The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22.
CERAWeek: JERA CEO Touts Importance of US LNG Supply
JERA Co. Global CEO Yukio Kani said during CERAWeek by S&P Global that it was important to have a portfolio of diversified LNG supply sources, especially from the U.S.
CERAWeek: Human Oversight, Machine Power: AI’s Future in Energy
A CERAWeek panel tackles how AI's hunger for complexity can devour the energy industry's toughest challenges.
IEF Chief: When the Public Figures out Transition’s Cost, ‘We’re in Big Trouble’
Also, developing and undeveloped countries are pushing back, with one African minister saying “we will decarbonize after we carbonize.”
CERAWeek: BP Could Sanction GoM’s Kaskida this Year, CEO Says
BP Plc is eyeing the sanction of its Kaskida deepwater project in the Gulf of Mexico in 2024, the company’s CEO Murray Auchincloss said during CERAWeek by S&P Global.
CERAWeek: Large Language Models Fuel Industry-wide Productivity
AI experts promote the generative advantage of using AI to handle busywork while people focus on innovations.
Williams CEO: Louisiana Energy Gateway Start Temporarily in Limbo
Williams CEO Alan Armstrong said the project still moving forward after hitting a snag in a dispute with Energy Transfer but lacks a definitive start date.
California Resources Corp. Nominates Christian Kendall to Board of Directors
California Resources Corp. has nominated Christian Kendall, former president and CEO of Denbury, to serve on its board.