Latest From Hart Energy
Marketed: Ascent Resources- Utica 96 Well Package in Ohio
Ascent Resources- Utica LLC and Ascent Utica Minerals LLC has retained EnergyNet for the sale of a non-operated 96 well package in Belmont, Guernsey, Harrison, Jefferson and Noble counties, Ohio.
Trace Carbon Solutions Applies for First Phase of Class VI Wells at Evergreen Hub
Trace is applying for its subsidiary Evergreen Sequestration Hub to be allowed to permanently sequester CO2 in underground geological formations in Louisiana.
Tallgrass Energy Announces Latest Open Season for Pony Express Pipeline
Prospective shippers can review details of the open season, which began March 11, after signing a confidentiality agreement with Tallgrass.
Silver Linings in Biden’s LNG Policy
In the near term, the pause on new non-FTA approvals could lift some pressure of an already strained supply chain, lower both equipment and labor expenses and ease some cost inflation.
Quaise Energy Raises $21MM Toward Deep Geothermal Operations
Quaise Energy will utilize a technique to vaporize rock using high-power microwaves to achieve deep geothermal energy globally.
US Raises Crude Production Growth Forecast for 2024
U.S. crude oil production will rise by 260,000 bbl/d to 13.19 MMbbl/d this year, the EIA said in its Short-Term Energy Outlook.
CNX Joins Crowd of Companies Cutting Back NatGas Production
Appalachian gas producer CNX Resources is reducing natural gas production in 2024 and announced delays for well completions on three shale pads.
Laredo Oil Settles Lawsuit with A&S Minerals, Erehwon
Laredo Oil said a confidential settlement agreement resolves a title dispute with Erehwon Oil & Gas LLC and A&S Minerals Development Co. LLC regarding mineral rights in Valley County, Montana.
Enerflex Appoints Thomas B. Tyree to Board
Tyree currently serves on Antero Resources’ board and recently served as chairman of Northwoods Energy LLC in 2023.
Avangrid to Build its Fifth Wind Farm in Illinois
Osagrove Flats, the 153 MW wind farm, will bring Avangrid’s renewable energy capacity in Illinois to nearly 800 MW.
Cyber-informed Engineering Can Fortify OT Security
Ransomware is still a top threat in cybersecurity even as hacktivist attacks trend up, and the oil and gas sector must address both to maintain operational security.
GEODynamic’s EPIC Perforating Technologies for Wireline Solutions
The EPIC Precision and EPIC Flex top-loading gun systems are engineered to be used across a broad range of unconventional well designs for extremely reliable plug-and-perf completions.
Marketed: Kaiser-Francis Oil Mississippi Opportunity
Kaiser-Francis Oil Co. has retained EnergyNet for the sale of a Gilliland 34-1H opportunity in Monroe County Mississippi.
Marketed: Williston, Powder River Basins 247 Well Package
A private seller has retained EnergyNet for the sale of a Williston and Powder River basins 247 well package in Sheridan, Montana, Burke and McKenzie counties, North Dakota and Campbell County, Wyoming.
E&P Highlights: March 11, 2024
Here’s a roundup of the latest E&P headlines, including a new bid round offshore Bangladesh and new contract awards.
EQT Deal to ‘Vertically Integrate’ Equitrans Faces Steep Challenges
EQT Corp. plans to acquire Equitrans Midstream with $5.5 billion equity, but will assume debt of $7.6 billion or more in the process, while likely facing intense regulatory scrutiny.
Daugherty: Diamondback Scales Up Amid Consolidation Super Cycle
It’s time for the strongest among the services sector to follow Diamondback's lead: find fortifying prey and hunt.
Primergy Solar Secures $588MM for Texas Solar Project
Primergy will develop the Ash Creek Solar project in Hill County and signed a power purchase agreement with Microsoft.
PrairieSky Royalty Declares Quarterly Cash Dividend
PrairieSky’s dividend is payable April 15 to shareholders of record by March 28.
Evolution Petroleum Sees Progress on SCOOP/STACK, Chaveroo Operations
Evolution expects to participate in future development blocks, holding in aggregate over 70 additional horizontal well locations.
Will the Ends Justify the Means for W&T Offshore?
After several acquisitions toward the end of 2023, W&T Offshore executives say the offshore E&P is poised for a bounce-back year in 2024.
Coast Guard Confirms Amplify’s Platform Elly Unrelated to California Oil Sheen
Amplify Energy remains confident that the sheen off Huntington Beach, California is not related to its operations.
Midstream Builds in a Bearish Market
Midstream companies are sticking to long term plans for an expanded customer base, despite low gas prices, high storage levels and an uncertain political LNG future.
What's Affecting Oil Prices This Week? (March 11, 2024)
Stratas Advisors expects oil prices to move higher in the middle of the year, but for the upcoming week, there is no impetus for prices to raise.
Freeport LNG's Feedgas Usage Falls Again
Natural gas flowing to Freeport LNG's Texas facility was down to 758 MMcf on March 11 from 1463 MMcf on March 3, LSEG data showed.
EQT, Equitrans to Merge in $5.45B Deal, Continuing Industry Consolidation
The deal reunites Equitrans Midstream Corp. with EQT in an all-stock deal that pays a roughly 12% premium for the infrastructure company.
EnCap Launches Bildmore to Invest in Hard-to-finance Clean Energy
In an effort to support hard-to-finance clean energy projects, EnCap Energy Transition Fund is launching Bildmore, a platform expected to invest in up to 15 third-party battery storage, solar and other energy transition projects per year.
US Leads Global Oil Production for Sixth Straight Year-EIA
The Energy Information Administration says it is unlikely that the record will be broken by another country in the near term.
Alberta's Ban on Renewables Could Hurt CA$11B in Investments, Says Study
Alberta's ban on some renewable projects could hurt CA$11.1 billion ($8.24 billion) in investments and stall up to 6.3 GW of solar and wind power capacity.
EQT, Equitrans Midstream to Combine in $5.5B Deal: Reports
EQT Corp.'s deal would reunite the natural gas E&P with Equitrans Midstream after the two companies separated in 2018.