Latest From Hart Energy
Phillips 66 Buys EPIC’s Permian NGL Midstream Assets for $2.2B
Phillips 66 will buy EPIC’s NGL assets, including a 175,000 bbl/d pipeline that links production supplies in the Delaware and Midland basins and the Eagle Ford Shale to Gulf Coast fractionation complexes.
ONEOK Names Two New Executive Leaders Following Asset Sale
Randy Lentz and Sheridan Swords are both stepping into newly created executive leadership roles for ONEOK.
Service & Supply, Service Contracts, Liquefied Natural Gas (LNG), Field Development, Resignations, Promotions, Acquisitions & Divestitures, Lease Sales, Policy & Regulations
E&P Highlights: Jan. 6, 2025
Here’s a roundup of the latest E&P headlines, including company resignations and promotions and the acquisition of an oilfield service and supply company.
Halliburton, Coterra Launch Fully Automated Hydraulic Fracturing Tech
Halliburton Energy Services and Coterra Energy’s initial rollout of their autonomous hydraulic fracturing technology led to a 17% increase in stage efficiency.
Equinor’s Norwegian Troll Gas Field Breaks Production Record
Equinor says its 2024 North Sea production hit a new high thanks to equipment upgrades and little downtime.
Biden Bans E&Ps from 625 Million Acres of Offshore Oil, Gas Leases
While the White House said the move doesn’t affect existing leases, oil and gas industry groups called excluding offshore waters “significant and catastrophic.”
Birch Resources Mows Dean Sandstone for 6.5 MMbbl in 15 Months
Birch Resources has averaged 7 MMboe, 92% oil, from just 16 wells in the northern Midland Basin’s Dean Formation in an average of 15 months each, according to new Texas Railroad Commission data.
California Resources Advances California’s First CCS Project
California Resources Corp. will invest between $14 million and $18 million to capture the CO2, the company said in a news release.
Mattr Infrastructure Technologies Completes AmerCable Deal
Mattr Infrastructure Technologies has completed the acquisition of AmerCable Inc., a manufacturer of electrical power cables serving critical infrastructure markets.
Talos Energy Zeroing in on New Skipper After Interim CEO Quits
Talos Energy said it has identified a finalist candidate to serve as the company’s permanent CEO starting end of first-quarter 2025.
Enbridge, EDF Renewables Bring Fox Squirrel 3 Solar Project Online
Located in Madison County, Ohio, the Amazon Solar Farm Ohio-Fox Squirrel Solar project has 1.4 million solar panels and nearly 160 inverters.
What's Affecting Oil Prices This Week? (Jan. 6, 2025)
Recent geopolitical news also provided some support for oil prices with the rhetoric heating up between Iran and Israel.
Diversified Bolts-On Appalachia Gas Production, Midstream Assets
Diversified Energy will buy Summit Natural Resources’ assets, including producing wells and coal mine methane wells, in the southern part of the Appalachian Basin.
Biden to Ban Offshore Oil, Gas Drilling in Vast Areas Ahead of Trump Term
The ban is set to affect 625 million acres of ocean but mostly covers areas without important drilling prospects.
BYOP (Bring Your Own Power): The Great AI Race for Electrons
Data-center developers, scrambling to secure 24/7 power, are calling on U.S. producers to meet demand as natgas offers the quickest way to get more electrons into the taps.
Sintana Reports Two Discoveries Offshore Namibia
Sintana Energy Inc. said the Mopane-2A well found gas condensate in one reservoir and light oil in a smaller one.
FERC Closes Out ’24 with Rulings to Boost LNG Supply
A trio of Federal Energy Regulatory Commission authorizations in the latter half of December allowed new LNG trains to begin operations or boosted gas supplies to the facilities.
Uncertainty Abounds: IRA Clean Energy Incentives Await Fate
Policy experts weigh in on the next possible steps for President Joe Biden’s signature climate law, the Inflation Reduction Act, following the Trump-led Republican trifecta.
Darbonne: The Power Grid Stuck in Gridlock
Greater power demand is coming but, while there isn’t enough power generation to answer the call, the transmission isn’t there either, industry members and analysts report.
Treasury’s New Hydrogen Tax Credit Regs Open Door to NatGas Producers
The U.S. Treasury Department’s long awaited 45V hydrogen tax credit will enable “pathways for hydrogen produced using both electricity and methane” as well as nuclear, the department said Jan. 3.
BP Flows First Gas from Greater Tortue LNG Project
Once fully commissioned, Phase 1 of the Greater Tortue Ahmeyim LNG project led by operator BP is expected to produce approximately 2.3 MMtonne of LNG annually.
Former IPAA Chair Steven Hinchman Dies at 66
During his time with IPAA, Steven Hinchman founded Scala Energy and became its president and CEO.
NatGas in Storage Shows YOY Drop for First Time Since 2022
Despite a drop in gas in storage, prices took a hit from forecasts of warmer-than-expected weather.
Biden Blocks Japan’s Nippon Steel from Buying US Steel for $14.9B
President Biden cited national security concerns in his decision, but Nippon Steel and U.S. Steel said the decision ignored the law and was motivated by politics.
US Oil, Gas Rigs Unchanged for Fourth Straight Week
The oil and gas rig count stayed at 589 in the week to Jan. 3. Baker Hughes said that puts the total rig count down 32 rigs, or 5% below this time last year.
Ormat Starts Operations at New Jersey Energy Storage Facility
Ormat Technologies Inc. said the Montague energy storage project has a capacity of 20 megawatt/20 megawatt-hours.
Delek Closes $285MM Buyout of Permian’s Gravity Water Midstream
Delek Logistics continues to focus on bolstering its Permian Basin infrastructure holdings with the acquisition of Gravity Water Midstream.
Crude Oil, Natural Gas, Shale Plays, Exploration & Production, Service & Supply, Policy & Regulations
Dallas Fed: Trump Can Cut Red Tape, but Raising Prices Trickier
U.S. oil and gas executives expect fewer regulatory headaches under Trump but some see oil prices sliding, according to the fourth-quarter Dallas Fed Energy Survey.
Hirs: Expansive Energy Policies Set to Shape 2025 Markets
The incoming administration’s policies on sanctions, tariffs, regulations and deportations will impact the oil and gas industry.
Acquisitions & Divestitures, Natural Gas, Gathering & Processing, Natural Gas liquids (NGL), Pipelines
Pembina Closes $290MM Deal for Stake in Whitecap’s NatGas Facility
Pembina Gas Infrastructure closed a CA$420 million transaction to acquire interests in Whitecap Resources’ natural gas processing facility in Alberta, Canada.