Latest From Hart Energy
Ex-BP America Chair Dave Lawler to Lead Kimmeridge’s South Texas Gas E&P
Separately, Kimmeridge has purchased more than 90% control of Gulf Coast LNG developer Commonwealth LNG.
SLB, Ormat Technologies Form Geothermal Partnership
As part of the partnership, SLB also will license Ormat’s enhanced geothermal systems patent.
U.S. Energy Development Corp. Plans $750MM Permian-heavy Program
Fort Worth, Texas-based U.S. Energy Development Corp. continues to add to its operated footprint in the Permian’s Delaware Basin.
Pytheas Adds Three Oil, Gas-producing Assets to Portfolio
Pytheas Energy said the assets represent working and non-working interests in 620 oil and gas wells. Combined, the assets currently produce approximately 357 bbl/d.
Canadian Teamsters Hold Second Vote on Railway Strike
The union approved for the strike to start May 21, but faced a delay due to a government safety review.
Watching the Uinta: XCL Petitions the FTC to Approve Altamont Acquisition
XCL Resources' petition was required under a prior agreement EnCap Energy Capital Fund XI struck with the FTC in 2022, which required the private equity group to sell off EP Energy’s Utah oil business.
Private E&Ps Pursue Dollars Amid Change
Producers contend with roiled capital markets as consolidation alters the strategic landscape.
FortisBC, EverGen Ink 20-year RNG Deal
FortisBC will purchase up to 160,000 gigajoules of RNG from EverGen Infrastructure’s biogas facility in British Columbia, according to a news release.
Exxon, South Korea's SK On Sign Non-binding Deal for Lithium Supply
SK On, a unit of SK Innovation, intends to use the lithium for making EV batteries in the U.S.
Kinetik Closes Acquisition of Durango’s New Mexico Delaware G&P Assets
Kinetik Holdings closed a $765 million acquisition of Durango Permian LLC, deepening Kinetik’s footprint of gas gathering and processing assets in the Delaware Basin.
Surge of Longer Lateral Drilling to Enhance Reservoir Recovery
With energy demand growing, operators look to supply hydrocarbons by drilling longer wells.
Altus Power Acquires 8.5-MW Solar Array
Altus Power’s new solar array project in New Jersey is expected to produce over 8 million kWh in the next 12 months.
Private Oil Producers Dwindle Amid Consolidation in New Top Operators List
According to a compilation by Enverus in an exclusive partnership with Oil and Gas Investor, the list of the top 20 private oil producers has been reshaped following a period of massive M&A.
Equitrans, EQT Announce Preferred Stock Election Deadline
Equitrans Series A preferred stockholders have until July 9 to vote on the consideration they prefer to receive once the merger with EQT takes place.
Reservoir Evaluation, Highlights, Field Development, Emerging Plays, Deepwater, Conventional, Shale Plays, Drilling, Subsea
E&P Highlights: June 24, 2024
Here’s a roundup of the latest E&P headlines, including TotalEnergies working with Nigeria to reach FID on the Ubeta gas field and Chevron signing production sharing contracts for two blocks offshore Equatorial Guinea.
Constellation Energy’s Boston LNG Import Terminal Remains Open
FERC warned last year that plans to shut Constellation’s Everett LNG terminal could threaten the Northeastern power grid.
Japan’s Mitsui Deepens Texas Shale Gas Footprint Through M&A
Japanese firm Mitsui & Co. is adding to its shale gas footprint in Texas through M&A, the Tokyo-based company announced June 24.
Enbridge, Six Nations Partner to Advance Canadian Wind Project
The Seven Stars Energy project is expected to produce 200 megawatts of emissions free power, enough to supply energy to 100,000 Saskatchewan homes annually.
IEA: EV Growth Could Displace Up to 12 MMbbl/d by 2035
The Paris-based IEA says up to 12 MMbbl/d of oil demand could be displaced by 2035 due to the rapid uptick in electric vehicle usage globally—especially in the U.S., EU and China.
Two Ring Management Leaders Exit, Replacement Search Underway
Ring Energy is updating its management team following the departure of two senior executives.
Hirs: What Regulators Get Wrong—Energy Networks Are Tough To Control
Energy professionals depend upon interconnected markets and often profit from arbitrage opportunities long before market participants and regulators can effectively address them.
Heirloom Makes Plans for Two DAC Facilities in Louisiana
Heirloom Carbon Technologies expects the facilities, located at the Port of Caddo-Bossier in northwest Louisiana, to remove about 17,000 tons of CO2 from the atmosphere starting in 2026.
Gaps in EU's Preparation for Potential Gas Crises, Auditors Say
Despite the EU's overall reliance on Russia dropping significantly, auditors say the EU is insufficiently prepared to weather a future gas crisis.
EU Adopts New Sanctions Against Russia, Including LNG
New restrictions aim to reduce Russia's profits from LNG, hitting the country's gas exports for the first time, but experts say it will likely have little impact on Russian revenues.
What's Affecting Oil Prices This Week? (June 24, 2024)
Stratas Advisors expect that oil prices will be under pressure during the upcoming week, in part because of economic and political uncertainty.
Industry Consolidation Reshapes List of Top 100 Private Producers in the Lower 48
Public-private M&A brings new players to top slots in private operators list.
Exxon Taps Air Liquide for Largest Low-carbon Hydrogen, Ammonia Project
Exxon Mobil and Air Liquide’s hydrogen and ammonia project is expected to transport low-carbon hydrogen from Exxon’s Baytown, Texas, facility through Air Liquide’s pipeline network.
NatGas Inventories Hold Back Price Despite Summer’s Demand Boost
The U.S. Energy Information Administration’s storage report shows storage levels drifting back down to normal.
Canada Passes Bill C-69 in Support of Clean Hydrogen
Clean hydrogen developer, EverWind Fuels, applauded Canada’s timely and effective response to the U.S. Inflation Reduction Act with passage of the Clean Hydrogen Investment Tax Credit.
US Natgas Prices Ease to 2-week Low on Rising Output
The natural gas price decline came even on forecasts for hotter weather next week than previously expected.