Latest From Hart Energy
AI Moves into Next Phase of E&P Adoption as Tech Shows Full Potential
AI adoption is helping with operations design and improving understanding of the subsurface for big companies. Smaller companies are beginning to follow in their footsteps, panelists said at Hart Energy’s DUG Gas Conference.
Improving Gas Macro Heightens M&A Interest in Haynesville, Midcon
Buyer interest for Haynesville gas inventory is strong, according to Jefferies and Stephens M&A experts. But with little running room left in the Haynesville, buyers are searching other gassy basins.
IBAT CEO: Lithium Extraction in Smackover ‘Almost Child's Play’
Iris Jancik, the CEO of International Battery Metals, said the company aims to work with oil and gas companies to explore lithium extraction projects.
E&P Highlights: March 24, 2025
Here’s a roundup of the latest E&P headlines, from an oil find in western Hungary to new gas exploration licenses offshore Israel.
Validus Pays $850MM for 89 Energy as Midcon M&A Heats Up
Elliott Investment Management-backed Validus Energy continues to roll up Midcontinent assets, closing an $850 million acquisition of 89 Energy III.
Gulf South Pipeline Cuts Gas to Freeport LNG's Texas Plant After Lightning Strike
The incident has slashed gas usage at Freeport LNG's plant, which can process up to 2.4 Bcf/d of gas, to 450 MMcf/d from previous expectations of almost 1.8 Bcf/d, according to LSEG data.
Stonepeak Backs Longview for Electric Transmission Projects
Newly formed Longview Infrastructure will partner with Stonepeak as electric demand increases from data centers and U.S. electrification efforts.
Jet Fuel Took Record Share of ’24 US Refinery Output, EIA Says
In 2024, U.S. refineries produced a record 659.837 MMbbl of jet fuel, which accounted for about 11% of total refinery yields.
Venture Global’s Plaquemines Gets FERC Approval for Phase 2 Generators
Venture Global continues to ramp up production after an early winter startup.
Canadian Government to Fund Portion of Cedar LNG’s $5.96B Development Cost
The Government of Canada has pledged to contribute up to $200 million to help the Haisla Nation and Pembina Pipeline Corp. develop the $5.96 billion Cedar LNG Project
Lufkin Sells North America Downhole Business to Q2 Artificial Lift
Lufkin Industries will focus on software and surface equipment while Q2 Artificial Lift Services will expand its downhole services.
Private Equity, Finance, Investment, Drilling, Exploration & Production, Shale Plays, Crude Oil, Natural Gas, DUG Haynesville
More Players, More Dry Powder—So Where are the Deals?
Bankers are back and ready to invest in the oil and gas space, but assets for sale remain few and far between, lenders say.
What's Affecting Oil Prices This Week? (March 24, 2025)
Oil demand will be picking up as we move into warmer months for the northern hemisphere. For the upcoming week, Stratas Advisors think the price of Brent crude will move higher and will test $73.
Calgary Region Hydrogen Hub Opens, Forms ‘Competitive Edge’
The Calgary Region Hydrogen Hub will initially focus on airports, heat and power, hydrogen corridors, industrial and municipal fleets and trains, according to a news release.
Brookfield Sells Pipeline Stake to ArcLight for Exit Totaling $1.7B
Kinder Morgan will continue as Natural Gas Pipeline Co. of America’s operator following Brookfield Infrastructure’s sale of a 25% stake to Arclight Capital Partners.
Will TG Natural Resources Be the Next Haynesville M&A Buyer?
TG Natural Resources, majority owned by Tokyo Gas, is looking to add Haynesville locations as inventory grows scarce, CEO Craig Jarchow said.
Superhot Rock Drillers Advance Technology to Rival Oil and Gas
Building on synergies with the oil and gas sector, geothermal companies seek to go hotter and deeper to unleash energy.
Exclusive: India’s Cairn to Deliver First Shale Well in Summer
India's Cairn Oil & Gas, part of Vedanta Group, plans to deliver its first shale well using U.S. shale techniques honed by oilfield service companies, in June or July.
Shell Takes FID on Gato do Mato Project Offshore Brazil
Shell Plc will be the operator and 50% owner, with Ecopetrol holding 30% interest and TotalEnergies 20%.
Apollo Acquires BP’s Gas Pipeline Stake for $1B
BP Pipelines holds a 12% interest in the Trans-Anatolian Natural Gas Pipeline (TANAP), which transports natural gas from Azerbaijan across Turkey.
Oxy, Looking to Cut Debt, Sells D-J Minerals to Elk for $905MM
Elk Range Royalties bought 250,000 net royalty acres in the Denver-Julesburg Basin for $905 million from Occidental Petroleum, which is looking to shed debt after last year's acquisition of CrownRock.
UK Gas Producer Energean Terminates Carlyle Deal Over Approval Delays
The company said that the two parties were unable to agree on an extension of the long-stop date beyond March 20 to meet the conditions of the agreement.
Energy Transition in Motion (Week of March 21, 2025)
Here is a look at some of this week’s renewable energy news, including a move by U.S. President Donald Trump to boost domestic production of critical minerals.
US Oil, Gas Rigs Rise for First Time in Three Weeks
Despite this week's rig increase, Baker Hughes said the total count was still down 31 rigs, or 5% below this time last year.
Hirs: America Confronts Sovereign Risk with Recession on the Horizon
The risk to U.S. oil and gas production comes from within, and a recession looms on the horizon.
Belcher: Texas Considers Funding for Abandoned Wells, Emissions Reduction
With uncertainly surrounding federal aid as the Trump administration attempts cost cutting measures, the state is exploring its own incentive system to plug wells and reduce emissions.
DOE Approves Venture Global’s CP2 LNG to Export to Non-FTA Countries
The U.S. Department of Energy approved Venture Global’s Calcasieu Pass 2 LNG project in Cameron Parish, Louisiana, to export LNG to non-FTA countries.
Trump Administration to Open More Alaska Acres for Oil, Gas Drilling
U.S. Interior Secretary Doug Burgum said the agency plans to reopen the 82% of Alaska's National Petroleum Reserve that is available for leasing for development.
RWE Slashes Investment Upon Uncertainties in US Market
RWE introduced stricter investment criteria in the U.S. and cut planned investments by about 25% through 2030, citing regulatory uncertainties and supply chain constraints as some of the reason for the pullback.
US Slaps Iran-Related Sanctions on Oil Tankers, China 'Teapot' Refinery
The U.S. issued new Iran-related sanctions, targeting entities including for the first time a Chinese "teapot," or independent refinery, and vessels that supplied crude oil to such processing plants.