Latest From Hart Energy
EY: What to Watch for in 2024: Emissions, Ops, M&A
Expect E&Ps to engage in more strategic consolidation, place more emphasis on carbon markets and attempt to get ahead of the SEC’s guidance on emissions reporting.
Vopak Consortium Selected to Operate New LNG Terminal in South Africa
Vopak, in a partnership with Transnet Pipelines, was selected to develop and operate an LNG terminal at the Port of Richards Bay in South Africa for 25 years.
NOV Makes Way into Renewables with Solar Tracking Innovation
NOV details expanding its focus from oil and gas to the solar sector by leveraging its 150 years of experience in the energy industry, in this Hart Energy LIVE Exclusive.
Marketed: Barrel Oil Corp. Property Divestiture in Coyote, Alberta
Barrel Oil Corp. retained Sayer Energy Advisors for the sale of its oil and natural gas interest located in the Coyote area of Alberta.
Evolution Petroleum Acquires SCOOP/STACK Interests
Evolution Petroleum entered agreements with three companies to purchase non-op interests in Oklahoma’s SCOOP and STACK plays for $43.5 million, equaling its largest transaction so far.
Top US Grid Operator Sees EVs, Industry Driving Up Peak Power Demand
PJM Interconnection predicts that the mounting electrification of transportation and industry will drive an increase in power demand this year.
Ecoanalítica: Venezuelan Oil Production, Economy to Grow in 2024
Venezuelan consultancy Ecoanalítica expects the OPEC country’s oil production and economy to grow in 2024—aided primarily by a recent license granted to the benefit of oil and gas companies by the U.S. government.
TurningPoint Energy Names Naini as President
Salar Naini, who previously served as executive vice president of business development for TurningPoint, will lead the company’s daily business operations.
EIA Outlook Shows Energy Storage Capacity Doubling in 2024
U.S. energy storage capacity could expand to more than 30 gigawatts by year-end 2024, the EIA says.
Why Investors Should Keep an Eye on Vietnam
Vietnam has become a partner with the U.S., but as a manufacturing hub and the home to one of the world’s largest cache of critical minerals, it needs power—and investment—to move forward, Energy Capital Vietnam (ECV) founder, chairman and CEO David Lewis says.
H&E Equipment Services Acquires Precision Rentals
H&E Equipment Services’ acquisition of Precision Rentals adds approximately $70 million in original equipment to its fleet of construction rental equipment.
ONGC’s M Field Starts Production in Bay of Bengal
ONGC’s M Field represents the second phase of the larger 98/2 Block development project which is expected to reach peak production of 45,000 bbl/d and 10 MMcm/d.
Drilling Automation Systems Provide Consistency Across Wells, Fields, Personnel
Automated drilling systems don’t get tired, forgetful or concerned about the type of rig or formation.
Exclusive: NexTier Reveals New Blending Equipment for Fracturing
Renee LeBas, vice president of NextGen at NexTier introduces their latest technology and electric driven blending equipment for fracturing operations with risk reducing components in this week's Tech Trends.
Potential Chesapeake, Southwestern Merger May Face Tough Scrutiny
Low natural gas prices are driving producers such as Chesapeake and Southwestern to seek large ‘strategic’ deals at a time when large-scale consolidation is coming under increased scrutiny by lawmakers and regulators.
Energy, Freight Analytics Firm Vortexa Raises $34 Million
The investment brings the total amount raised by Vortexa since its inception to more than $60 million.
E&P Highlights: Jan. 8, 2024
Here’s a roundup of the latest E&P headlines including the second biggest deepwater gas find of 2023 and new contract awards.
Germany Cut Gas Imports by a Third in 2023
Germany cuts its gas imports by 32.6% in 2023 after recovering from Russia's export cut off.
Ksi Lisims LNG Signs Shell in First Offtake Agreement
Under a sale and purchase agreement, Shell will purchase 2 million tonnes of LNG per year from the proposed Canadian project.
Microsoft, Qcells Enter Alliance for 12 GW of US Solar Modules
Qcells said it will collaborate with Microsoft to bring an estimated 1.5 GW of solar panels a year to Microsoft’s contracted projects through 2032.
Enterprise Declares Quarterly Cash Distribution
Enterprise Products Partners’ distribution will be paid Feb. 14 to common unitholders of record by Jan. 31.
Trio Petroleum Secures Option to Acquire 20% Interest in Asphalt Ridge
Trio Petroleum Corp. secured an option from Heavy Sweet Oil to acquire a 20% production share in the Asphalt Ridge heavy oil development project.
California Reaming: Laws Spark Rancor, $6B in Chevron, Exxon Write Offs
Chevron and Exxon are set to write off billions of dollars worth of California assets because of strict laws and regulations that the companies say won’t change oil consumption but will shift profits to foreign producers such as Saudi Arabia.
What's Affecting Oil Prices This Week? (Jan. 8, 2024)
For the upcoming week, Stratas Advisors predicts oil prices will bounce upwards with geopolitical news, but the price increase will quickly fade as the oil continues to flow.
Carbon Terravault’s CCS Plans Progress with Release of Draft Well Permits
If required regulatory approvals are secured, Carbon TerraVault will have permission to drill California’s first wells for underground CO2 sequestration in a depleted oil and gas field.
Wood Wins Trion Topsides Engineering Work
Detailed engineering design for Woodside’s Trion project in Mexico’s Gulf of Mexico will be handled out of Houston and Bogota by Wood.
Natural Gas Producers’ Game Plan for LNG: Wait Out 2024
Natural gas production has risen over the past decade with the potential to keep growing, but 2024 will test the market’s patience as E&Ps await LNG export capacity to come online.
Despite GoM Struggles, 2024 is Still Ripe for Offshore Rigs
Though industry experts are predicting 2024 to be a slow year for rigs in the Gulf of Mexico, there is plenty of opportunity for contracts to be awarded in other markets.
Forum Energy Technologies Completes Acquisition of Variperm
Forum Energy Technologies’ acquisition enhances the company’s downhole and artificial lift product portfolio by adding a manufacturer of customized downhole technology solutions in sand and flow control for heavy oil applications.
Southwestern, Chesapeake Energy Near $17 Billion Merger - Report
Southwestern and Chesapeake's deal would create a roughly $17 billion company that would rank as one of the largest U.S. natural-gas producers.