Latest From Hart Energy
Ørsted Names New CFO, COO Following 2023 Setbacks
Ørsted appointed Trond Westlie as CFO and executive board member and Patrick Harnett as COO following company difficulties in 2023, including a $4 billion impairment charge in third-quarter 2023.
Hess: Pre-emption Provision Doesn't Apply to Buyout Deal With Chevron
Hess Corp. said on Feb. 27 that a pre-emption provision does not apply to its proposed $53-billion buyout by Chevron Corp. and it remains "fully committed" to the deal.
Civitas, Prioritizing Permian, Jettisons Non-core Colorado Assets
After plowing nearly $7 billion into Permian Basin M&A last year, Civitas Resources is selling off non-core acreage from its legacy position in Colorado as part of a $300 million divestiture goal.
Atlas Energy Solutions to Buy Hi-Crush, Consolidating Permian Services
The $450 million deal effectively connects Atlas Energy Solutions’ Delaware Basin logistics and proppant offerings with Hi-Crush’s operations in the Midland Basin.
Remotely Controlled Well Completion Carried Out at SNEPCo’s Bonga Field
Optime Subsea, which supplied the operation’s remotely operated controls system, says its technology reduces equipment from transportation lists and reduces operation time.
SunPower Begins Search for New CEO
Former CEO Peter Faricy departed SunPower Corp. on Feb. 26, according to the company.
Matador Bolts On Additional Interest from Advance Energy Partners
Matador Resources carved out additional mineral and royalty interests on the acreage it acquired from Advance Energy Partners for $1.6 billion last year.
NOD Approves Start-up for Aker BP’s Hanz Project
Aker BP expects production on the North Sea subsea tieback to begin production during the first quarter.
CAPP Forecasts $40.6B in Canadian Upstream Capex in 2024
The number is slightly over the estimated 2023 capex spend; CAPP cites uncertain emissions policy as a factor in investment decisions.
Proven Volumes at Aramco’s Jafurah Field Jump on New Booking Approach
Aramco’s addition of 15 Tcf of gas and 2 Bbbl of condensate brings Jafurah’s proven reserves up to 229 Tcf of gas and 75 Bbbl of condensate.
TotalEnergies Rolling Out Copilot for Microsoft 365
TotalEnergies’ rollout is part of the company’s digital transformation and is intended to help employees solve problems more efficiently.
Well Logging Could Get a Makeover
Aramco’s KASHF robot, expected to deploy in 2025, will be able to operate in both vertical and horizontal segments of wellbores.
Buffett: ‘No Interest’ in Occidental Takeover, Praises 'Hallelujah!' Shale
Berkshire Hathaway’s Warren Buffett added that the U.S. electric power situation is “ominous.”
Chevron, Exxon in Dispute Over Hess Stake in Guyana Oil Block
Chevron’s $53 billion deal to buy Hess’ interests in the Stabroek Block offshore Guyana could be derailed as Exxon, CNOOC say they have first rights of refusal on the block’s interests.
Continental Resources Makes $1B in M&A Moves—But Where?
Continental Resources added acreage in Oklahoma’s Anadarko Basin, but precisely where else it bought and sold is a little more complicated.
Pembina Pipeline Enters Ethane-Supply Agreement, Slow Walks LNG Project
Canadian midstream company Pembina Pipeline also said it would hold off on new LNG terminal decision in a fourth quarter earnings call.
Marketed: Anschutz Exploration Six Asset Package in Wyoming
Anschutz Exploration Corp. has retained EnergyNet for the sale of six AFE asset packages in Campbell County, Wyoming.
Marketed: Anadarko Minerals Woodford Shale Opportunity
Anadarko Minerals has retained EnergyNet for the sale of a Woodford Shale opportunity in Blaine County, Oklahoma.
E&P Highlights: Feb. 26, 2024
Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
CorEnergy Infrastructure to Reorganize in Pre-packaged Bankruptcy
CorEnergy, coming off a January sale of its MoGas and Omega pipeline and gathering systems, filed for bankruptcy protect after reaching an agreement with most of its debtors.
APA’s Permian to Pick up Production Slack Amid Overseas Headaches
With various overseas headaches, Houston-based APA Corp. aims to boost its Permian Basin volumes and integrate its Callon Petroleum acquisition when it closes in the second quarter.
First Solar’s 14 GW of Operational Capacity to Support 30,000 Jobs by 2026
First Solar commissioned a study to analyze the economic impact of its vertically integrated solar manufacturing value chain.
What's Affecting Oil Prices This Week? (Feb. 26, 2024)
Stratas Advisors forecast that global crude production will be essentially unchanged from 2023, which means that demand growth in 2024 will outpace supply growth.
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Excelerate Declares Quarterly Cash Dividend
Excelerate Energy’s dividend is payable March 28 to Class A common stockholders of record by March 13.
Israel Says Gas Exports to Egypt, Jordan Rose 25% in 2023
Israel said on Feb. 26 that gas supplies to Egypt and Jordan rose by about 25% in 2023.
The One Where EOG’s Stock Tanked
A rare earnings miss pushed the wildcatter’s stock down as much as 6%, while larger and smaller peers’ share prices were mostly unchanged. One analyst asked if EOG is like Narcissus.
Range Resources Plans Flat Production Target in 2024
Gas producer Range Resources is focusing on system flexibility to respond to market trends.
SM Energy Adds Brookman to Board, Promotes Lebeck to Executive VP
Barton R. Brookman previously served as President and CEO of PDC Energy and James B. Lebeck served as senior vice president and general counsel since January 2023.
Marketed: Haynesville Shale 157 Well Package in Louisiana
A private seller has retained EnergyNet for the sale of a Haynesville Shale 157 well package opportunity in Bienville, Bossier, Casso, De Soto and Sabine parishes, Louisiana.