Latest From Hart Energy
Walking the Talk: Exxon Mobil Makes CCUS Strides
Exxon Mobil is developing a low-carbon intensity hydrogen plant using natural gas as feedstock and carbon capture in Baytown, Texas.
US Energy Production Hits All-time High, Far Outpacing Consumption -EIA
The Permian Basin’s natural gas growth leads to record surge in U.S. energy supplies.
Pembina Pipeline to Offer $690MM in Public Debt
Pembina Pipeline Corp. is offering senior unsecured debt to extend maturity dates for near-term debt that matures between 2026 and 2029.
TotalEnergies Sells Gas Field Interests West of Shetland Islands
Prax Group will take over TotalEnergies’ oil and gas assets in the maturing play north of Scotland.
RNG Producer Anaergia Appoints New CEO
Assaf Onn was appointed acting CEO by Anaergia’s board of directors following an investment of Marny Investissement SA in the renewable natural gas company.
Scott Sheffield Among Investors in Australian Shale Gas IPO
The operator who sold Pioneer Natural Resources Co. to Exxon Mobil in May for $59.5 billion joins his son Bryan Sheffield in shale gas investment Down Under.
FERC Approves Venture Global’s Calcasieu Pass 2 LNG Project
Venture Global’s Calcasieu Pass 2 was delayed due to changes at the overall site and within U.S. environmental law. The project remains subject to the LNG export pause initiated by the Biden administration.
SM Stock Dives Over 10% as Investors Weigh $2B Uinta Basin Deal
Shares for SM Energy were trading down after announcing a multibillion-dollar entry into Utah’s Uinta Basin, an unusual move that nonetheless adds scale to the company’s Eagle Ford Shale and Permian Basin operations.
Generac Acquires Energy Storage Solutions Provider
Generac Power Systems’ acquisition of PowerPlay Battery Energy Storage Systems integrates energy storage solutions into its energy technology portfolio.
US Supreme Court Blocks EPA's 'Good Neighbor' Air Pollution Plan
The U.S. Supreme Court on June 27 blocked an Environmental Protection Agency regulation aimed at reducing ozone emissions that may worsen air pollution in neighboring states, handing a victory to three Republican-led states and the steel and fossil-fuel industries that had challenged the rule.
SM Energy to Buy XCL Resources in $2.55B Entry into Uinta Basin
SM Energy has entered into a joint acquisition with Northern Oil and Gas to buy XCL Resources’ oil-heavy Uinta Basin assets in a core area that SM says competes with the Midland Basin.
‘Too Many’ Players: Oilfield Services Feel Permian M&A Crunch—Dallas Fed
After a historic run of E&P consolidation, oilfield services and equipment providers in the Permian are competing to woo a dwindling number of upstream customers, according to the second-quarter Dallas Fed Energy Survey.
Aussie Shale’s Tamboran Resources Prices IPO in Range but for Fewer Shares
Among those buying the Australian shale-gas developer’s pre-trade shares were U.S. wildcatter Bryan Sheffield and completions pressure-pumper Liberty Energy.
Sempra, Aramco Sign HOA for Port Arthur LNG Phase 2 Offtake
Sempra and Aramco executed a non-binding Heads of Agreement for LNG offtake from Port Arthur LNG Phase 2, while contemplating the Saudi Arabian energy giant to grab a 25% project-level equity in Phase 2.
USD Partners to Sell Rail Asset as Part of Forbearance Agreement
Midstream company USD Partners is selling a Canadian train terminal asset as part of a forbearance agreement to avoid foreclosure or default with its lenders.
Phillips 66’s Rodeo Facility Reaches Full Production Capacity Following Renewable Fuel Conversion
Houston-based Phillips 66 completed the full conversion of its Rodeo Renewable Energy Complex and reached its full capacity of 50,000 bbl/d. The facility will support the growing demand for renewable fuels.
Deal Change: BANGL Stake No Longer Part of Energy Transfer’s WTG Merger
NGL production in Texas is following a growth trend as it recovers from COVID-19, and the BANGL Pipeline's joint venture partners want in.
TotalEnergies Acquires License Offshore São Tomé and Príncipe
TotalEnergies will assume operatorship and a majority stake in the license offshore Africa.
Fervo Executes Two Geothermal Agreements with Southern California Edison
The two 15-year power purchase agreements will provide carbon-free geothermal energy for the equivalent of 350,000 homes across Southern California.
Mexico’s Zama Drama Eases, but Not Over for Talos, Other IOCs
Houston-based Talos Energy and its Block 7 consortium partners could make FID on the Zama field development sometime in the next year. But despite the importance placed on the project to secure energy security for Mexico, the consortium continues to run into headwinds.
IndustryVoice: Seven Key Takeaways From Guidance for Claiming Clean Hydrogen Tax Credits Under the IRA
Late in 2023, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) issued much-anticipated draft guidance for claiming tax credits and other incentives for development of so-called “clean” hydrogen production facilities. Authorized under the Inflation Reduction Act (IRA) of 2022, the rules are expected to provide clarity that many believe is necessary for development of a functioning hydrogen economy.
Analysis: A Mountain of Asset Sales Loom After Oil Megamerger Era
U.S. oil and gas companies could face an uphill struggle to sell about $27 billion of assets to fund investor payouts over the next few years as the biggest wave of energy megamergers in 25 years nears the end of regulatory reviews.
Longevity in Mind, Utah FORGE and Partners De-risk Tech to Advance Geothermal
RESMAN Energy Technology used its chemical tracers for the first time in an enhanced geothermal setting during testing at Utah FORGE’s drilling site.
Shell Takes FID on Carbon Capture, Storage Projects in Canada
Shell’s CCS projects are expected to start operations near the end of 2028, Shell said in a news release.
Gas Producers Increasingly Dominating in New Shale Top Operators List
As more private oil producers are gobbled up by giant publics, the gas players are moving up the ranks of the top operators, according to a compiled list by Enverus in an exclusive partnership with Oil and Gas Investor.
Marketed: Anschutz Three-well Opportunity in Powder River Basin
Anschutz Exploration Corp. has retained EnergyNet for the sale of three wells in the Powder River Basin.
Bob Simpson-led TXO Partners Buys Williston Basin Assets for Nearly $300MM
TXO Partners, an upstream MLP founded by XTO Energy executive Bob Simpson, is acquiring assets in the Williston Basin—a region the XTO team knew quite well.
Martin Midstream Says Pipeline Oil Spill Recovery Efforts Underway
Martin Midstream says it lost approximately 2,000 bbl of crude from its transfer line, which connects the company’s Sandyland Terminal to the Smackover Refinery in Union County, Arkansas.
Asset-backed Securitization Emerges as Growing Finance Opportunity
A relatively new type of financing has emerged for E&Ps—PDP asset-based securitization.
Pembina, Haisla Nation Take $4B FID on Cedar LNG
Pembina Pipeline Corp. and the Haisla Nation took a $4 billion final investment decision (FID) on the 3.3-mtpa Cedar LNG project. The project is expected to start operations in late 2028.