Latest From Hart Energy
CNOOC’s Suizhong 36-1/Luda 5-2 Starts Production Offshore China
CNOOC plans 118 development wells in the shallow water project in the Bohai Sea — the largest secondary development and adjustment project offshore China.
Kraft Heinz, Carlton Power Partner to Develop Green Hydrogen Plant
Located at Kraft Heinz’s Kitt Green manufacturing plant in Wigan, Greater Manchester, the proposed $50.1 million plant will have a 20-megawatt capacity.
Aethon’s Far Western Haynesville: Three Wells, 17.5 Bcf and Still Roaring
Aethon’s wells show no signs of flatlining—and neither are Comstock Resources’ tests, one of which has already reached nearly 50% of its previously estimated EUR.
NOV's AI, Edge Offerings Find Traction—Despite Crowded Field
NOV’s CEO Clay Williams is bullish on the company’s digital future, highlighting value-driven adoption of tech by customers.
Marketed: Sage Natural Resources 34 Well Package in Tarrant, Wise Counties, Texas
Sage Natural Resources retained EnergyNet for the sale of a 34 package (ORRI) in Tarrant and Wise counties, Texas.
Marketed: Mississippian Play Opportunity in Blaine County, Oklahoma
An undisclosed seller retained EnergyNet for the sale of a Mississippian play opportunity in the Webb 15-22-1XH Well in Blaine County, Oklahoma.
Equinor Receives Significant Discovery License from C-NLOPB
C-NLOPB estimates recoverable reserves from Equinor’s Cambriol discovery at 340 MMbbl.
Greenbacker Names New CFO, Adds Heads of Infrastructure, Capital Markets
Christopher Smith will serve as Greenbacker’s new CFO, and the power and renewable energy asset manager also added positions to head its infrastructure and capital markets efforts.
WoodMac: Market Likely to Absorb Aramco’s Downshift in Oil Production
Saudi Aramco’s move from a targeted 13 MMbbl/d capacity by 2027 is not expected to tighten the supply and demand balance this decade, Wood Mackenzie analysts said.
After Megamerger, Canadian Pacific Kansas City Rail Ends 2023 on High
After the historic merger of two railways in April, revenues reached CA$3.8B for fourth-quarter 2023.
Nel Realigns Supply Agreement with Nikola, Supplies Fortescue
Nel ASA and Nikola Corp.’s new supply agreement is for 110 alkaline stacks and related balance of stack equipment.
Energy Transition in Motion (Week of Feb. 2, 2024)
Here is a look at some of this week’s renewable energy news, including a utility’s plans to add 3.6 gigawatts of new solar and wind facilities by 2030.
Exxon, Chevron Tapping Permian for Output Growth in ‘24
Exxon Mobil and Chevron plan to tap West Texas and New Mexico for oil and gas production growth in 2024, the U.S. majors reported in their latest earnings.
US Drillers Cut Oil, Gas Rigs for First Time in Three Weeks
Baker Hughes said U.S. oil rigs held steady at 499 this week, while gas rigs fell by two to 117.
Sempra Enters Preliminary Agreement with JBIC
A memorandum of understanding between Sempra Infrastructure and the Japan Bank for International Cooperation is designed to advance U.S. and Japanese decarbonization efforts.
Baker Hughes Declares Increased Quarterly Dividend
Baker Hughes’ dividend represents a 5% growth rate, or $0.01, over the previous quarter’s dividend.
NGL Growth Leads Enterprise Product Partners to Strong Fourth Quarter
Enterprise Product Partners executives are still waiting to receive final federal approval to go ahead with the company’s Sea Port Terminal Project.
Daugherty: Feds Take Aggressive Posture on Oil, Gas Mergers
Newly released guidelines by the Department of Justice and Federal Trade Commission suggest that a post-deal, combined market share of more than 30% is potentially problematic.
Paisie: Economics Edge Out Geopolitics
Weakening economic outlooks overpower geopolitical risks in oil pricing.
Scout Signs Agreement with AdventHealth for Texas Wind Farm
Scout Clean Energy will supply a portion of its Heart of Texas wind farm to support 40% of AdventHealth’s electricity needs.
enCore Energy Appoints Robert Willette as Chief Legal Officer
enCore Energy’s new chief legal officer Robert Willette has over 29 years of corporate legal experience.
Black Stone Minerals Announces Cash Distribution
Black Stone Mineral’s board maintained its per unit distribution at the same level as third-quarter 2023.
Commentary: Are Renewable Incentives Degrading Powergen Reliability?
A Vistra Corp. chief, ERCOT’s vice chairman and a private investor talk about what’s really happening on the U.S. grid, and it’s not just a Texas thing.
Aggreko ETS Acquires Solar Project in Texas
Aggreko Energy Transition Solutions will oversee construction, own and operate the clean energy project in support of a Texas energy producer’s drive to decarbonize operations.
Oil Prices Edge Lower on False Report of Israeli Ceasefire, Sustained OPEC Cuts
Oil prices fell 2% on the false speculation that Israel and Hamas had tenatively agreed to a ceasefire, but losses were subsequently pared.
UGI Declares Common Dividend
UGI Corp.’s common dividend will be payable April 1 to shareholders of record as of March 15.
Sapura Acquires Exail Rovins’ Nano Inertial Navigation System
Exail Rovins’ Nano Inertial Navigation System is designed to enhance Sapura’s subsea installment capabilities.
Marathon Chasing 20%+ IRRs with Los Angeles, Galveston Refinery Upgrades
Marathon Petroleum Corp. is pursuing improvements at its Los Angeles refinery and a hydrotreater project at its Galveston Bay refinery that are each boasting internal rate returns (IRRs) of 20% or more.
McDermott Consortia Scoops Up Two Ruya Project Contracts
The EPCIC contracts support the expansion of the offshore Al-Shaheen Field, Qatar’s largest oil field.
Petrie Partners: A Small Wonder
Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.