Latest From Hart Energy
Occidental Increases Annual Dividend by 22%
Occidental Petroleum Corp.’s newly declared dividend is at an annual rate of $0.88 per share, compared to the previous annual rate of $0.72 per share.
US Drillers Add Oil, Gas Rigs for Third Time in Four Weeks
Despite this week's rig increase, Baker Hughes said the total count was still down 138 rigs, or 18%, below this time last year.
Energy Transition in Motion (Week of Feb. 9, 2024)
Here is a look at some of this week’s renewable energy news, including the latest on a direct lithium extraction technology test involving one of the world’s biggest lithium producers and the company behind the technology.
Kissler: The Challenge for Oil is Falling Demand, Despite Heightened Middle East Conflicts
Even though demand is the bigger weight on traders’ minds right now, Red Sea attacks and the U.S.’ “shadow war” with Iran still have the potential to impact the global oil supply, and consequently, prices.
Atlas Energy Solutions Declares Dividend
Atlas Energy’s dividend represents a 5% increase from the previous quarter’s dividend.
Northern Oil and Gas Ups Dividend 18%, Updates Hedging
Northern Oil and Gas, which recently closed acquisitions in the Utica Shale and Delaware Basin, announced a $0.40 per share dividend.
Permian E&P Midway Energy Partners Secures Backing from Post Oak
Midway Energy Partners will look to acquire and exploit opportunities in the Permian Basin with backing from Post Oak Energy Capital.
NAPE: Turning Orphan Wells From a Hot Mess Into a Hot Opportunity
Certain orphaned wells across the U.S. could be plugged to earn carbon credits.
Carlson: $17B Chesapeake, Southwestern Merger Leaves Midstream Hanging
East Daley Analytics expects the $17 billion Chesapeake and Southwestern merger to shift the risk and reward outlook for several midstream services providers.
Air Liquide to Add CO2 Recycling at Plant in Germany
In a supply agreement, Air Liquide and Dow plan to add a new CO2 recycling solution to two air separation units and one partial oxidation plant.
NGL Energy Partners Announces Cash Distribution
Payments to holders of NGL Energy Partners’ Class B and C preferred units will be made Feb. 27.
Vietnam Seeks Delicate Balance Among US, China, Russia
Ongoing U.S. tensions with China and Russia offer Vietnam an opportunity to boost economic ties with the former if American investors can steer past geopolitical smokescreens and destine funds for infrastructure, power and LNG projects all somewhat tied to Vietnam’s manufacturing sector.
Range Resources Expecting Production Increase in 4Q Production Results
Range Resources reports settlement gains from 2020 North Louisiana asset sale.
EIG’s MidOcean Energy Acquires 20% interest in Peru LNG
On top of acquiring a 20% interest in Peru LNG, MidOcean Energy is also in the process of acquiring interests in four Australian LNG projects.
Athabasca Oil, Cenovus Energy Close Deal Creating Duvernay Pureplay
Athabasca Oil and Cenovus Energy plan to ramp up production from about 2,000 boe/d to 6,000 boe/d by 2025.
Veriten’s Arjun Murti: Oil, Gas Prospectors Need to Step Up—Again
Arjun Murti, a partner in investment and advisory firm Veriten, says U.S. shale provided 90% of global supply growth—but the industry needs to reinvent itself, again.
Report: Devon Energy Targeting Bakken E&P Enerplus for Acquisition
The acquisition of Enerplus by Devon would more than double the company’s third-quarter 2023 Williston Basin production.
Magnolia Appoints David Khani to Board
David Khani’s appointment to Magnolia Oil & Gas’ board as an independent director brings the board’s size to eight members.
NAPE: The Power and Pitfalls of AI in the Oil Patch
Industry experts at NAPE explore AI as an antidote to information overload and inefficiencies.
Murphy Oil Names Eric Hambly as President, COO
Murphy Oil has promoted Eric M. Hambly to president and COO and E. Ted Botner to executive vice president. Both will continue to report to CEO Roger W. Jenkins.
NAPE: In Basins Familiar to E&Ps, Lithium Rush Offers Little Gold
A quest for sources of lithium comes as the lucrative element is expected to play a part in global efforts to lower emissions, but in many areas the economics are challenging.
Wanted: National Gas Strategy for Utilities, LNG
Chesapeake CEO Nick Dell’Osso and Mercator Energy President John Harpole, speaking at NAPE, said some government decision-makers have yet to catch on to changes spreading across the natural gas market.
StimStixx, Hunting Titan Partner on Well Perforation, Acidizing
The strategic partnership between StimStixx Technologies and Hunting Titan will increase well treatments and reduce costs, the companies said.
Pioneer Natural Resources Shareholders Approve $60B Exxon Merger
Pioneer Natural Resources shareholders voted at a special meeting to approve a merger with Exxon Mobil, although the deal remains under federal scrutiny.
A Different Way to Approach Energy Industry Hiring
Modern energy companies have embraced competitive efficiency, cutting-edge innovation and ESG transparency. It is time for modern energy hiring to do the same.
McKinsey: US Output Hinges on E&P Capital Discipline, Permian Well Trends
U.S. oil production reached record levels to close out 2023. But the future of U.S. output hinges on E&P capital discipline and well-productivity trends in the Permian Basin, according to McKinsey & Co.
TotalEnergies Starts Production at Akpo West Offshore Nigeria
Subsea tieback expected to add 14,000 bbl/d of condensate by mid-year, and up to 4 MMcm/d of gas by 2028.
Hess Midstream Announces 10 Million Share Secondary Offering
Global Infrastructure Partners, a Hess Midstream affiliate, will act as the selling shareholder and Hess Midstream will not receive proceeds from the public offering of shares.
CEO: Linde Not Affected by Latest US Green Subsidies Package Updates
Linde CEO Sanjiv Lamba on Feb. 6 said recent updates to U.S. Inflation Reduction Act subsidies for clean energy projects will not affect the company's current projects in the United States.
Summit Carbon Solutions, POET Partner on CCS Project
The partnership will incorporate POET’s 12 facilities in Iowa and five facilities in South Dakota into Summit’s carbon capture and storage project.