Latest From Hart Energy
Permian To Drive Two-thirds of US Oil Output Growth Through '25 – EIA
The Permian Basin will drive U.S. oil production growth for the foreseeable future, according to the U.S. Energy Information Administration. But Permian associated gas growth continues to pressure the natural gas industry.
CPX Energy Grows in the Delaware with Farm-in, Development Agreements
CPX Energy also began spudding a three-well pad in the Wolfcamp Shale.
Sixth Street Buys Permian, Anadarko Minerals for $500MM
Oklahoma City’s Echo Minerals sold mineral and royalty acreage in the Permian and Anadarko basins to Sixth Street Partners.
US LNG to Asia Has Lower Emissions Profile than Coal, Rystad Says
LNG emissions are up to 50% lower on average than for coal-fired power generation, even when the fuel is shipped over long distances, according to new research from Rystad Energy.
BP-owned Archaea Energy CEO Starlee Sykes Talks RNG
BP became the largest producer of RNG in the U.S. when it acquired Archaea Energy in 2022. Sykes was named CEO in 2023.
US NatGas Prices Slide 2% After Mountain Valley Startup Approved
Front-month gas futures for July delivery on the New York Mercantile Exchange fell to $3.063/MMBtu in early trading on June 12 as traders reacted to the June 11 approval of the Mountain Valley Pipeline startup.
Matador Resources Buys EnCap E&P Ameredev II for $1.9B
Matador Resources is expanding its Delaware Basin footprint in West Texas and New Mexico with the acquisition of EnCap-backed operator Ameredev II.
Energy Execs Plan Blank-check IPO to Buy E&P, Midstream Property
EQV Ventures Acquisition Corp. reports that $75 billion of aging private-equity investments are looking for liquidity in the next five years, and they want to be in the hunt to buy.
Toxic Gas in Louisiana Air Far Exceeds Safe Levels, EPA Estimates, US Study Finds
EPA estimates were based on imperfect traditional toxic gas ethylene oxide monitoring methods, but a more recent study used a method that could more accurately measure EtO levels on site.
Clean Energy Fuels Adds Third LNG Train at California Plant
Clean Energy Fuels Corp. said adding a third train to its LNG plant would increase its capacity by 50%, a move an analyst said could reduce the company’s reliance on third-party suppliers and increase annual EBITDA by $2 million.
PureWest Bides Time, Positions for NatGas Demand in West Coast Markets
In this Hart Energy exclusive interview, PureWest's COO Kristel Franklin talks about how the private company is navigating the dismal natural gas market opposite public players.
Woodside’s Sangomar Project Offshore Senegal Achieves First Oil
Woodside Energy achieved first oil offshore Senegal at the Sangomar development, which is the African country’s first offshore oil project.
Oil Settles Slightly Up on Forecasts for Strong Global Demand
Oil prices edged up to settle slightly higher on June 11 as the U.S. Energy Information Administration raised its global oil demand growth forecast for the year, while OPEC stuck to its forecast for relatively strong growth in 2024.
PGS, TGS Merger Receives Final Approval from UK Authorities
With regulatory conditions satisfied, PGS and TGS’ merger is expected to be complete July 1 and will establish the combined entity as a full-service geophysical data company.
UGI Subsidiaries Commence Up to $450MM Offering of Senior Notes
UGI Corp. subsidiaries AmeriGas Partners and AmeriGas Finance commenced a cash offer to purchase up to $450 million of outstanding senior notes.
JENNMAR Expands Oil, Gas Offerings with Deal for G&R
JENNMAR is acquiring G&R Gas Services, which presents well tending, roustabout and right-of-way maintenance offerings to the oil and gas industry in Virginia.
Montney Pure-play Advantage Energy Makes $326MM Acquisition
Calgary-based Advantage Energy is acquiring undeveloped inventory and around 14,100 boe/d of production in a CAD$450 million (USD$326.77 million) deal with a private seller.
NatGas Punches Above $3 Thanks to Summer Heat, Curtailments
Natural gas prices, stuck in the doldrums since January, have been slowly rising since May.
UpCurve CEO on Keeping Production Pace, Exploring Larger Deals
UpCurve Energy CEO Zach Fenton, discusses the company’s growth plans for 2024 and how UpCurve’s well production has evolved, in this Hart Energy Exclusive interview.
Welcome to HADES: Peering into the Depths of Downhole Imaging
DarkVision’s HADES platform provides unprecedented clarity downhole, delivering remarkable detail to wellbore inspection, the company says.
Vista to Import New Fracking Set to Boost Production at Argentina's Vaca Muerta
Vista Energy will import a new fracking set in the Vaca Muerta and sealed an agreement with SLB for the new equipment.
Utica Oil: Encino Energy’s Liquids Wells Top the Charts in Ohio
Encino Energy’s first-quarter wells took the top five spots in Ohio as the company’s liquids output accounted for more than half of the state’s 7.23 MMbbl first-quarter total.
Kinder Morgan Holds Open Season for SFPP Pipeline System
Kinder Morgan subsidiary SFPP LP is soliciting commitments to support a proposed expansion of the refined products pipeline system that runs from El Paso, Texas, to Tucson, Arizona.
Engelhart to Acquire Energy and Technology Business Trailstone
The transaction to acquire Trailstone, expected to be completed in third quarter 2024, will strengthen Engelhart’s position in the energy transition, the company said in its announcement.
Wars Complicate Energy Transition Despite US LNG Security Blanket
Analysts with Norway’s Equinor argue that increased levels of geopolitical conflict and outright wars “have made the energy transition more fragmented,” despite U.S. LNG creating an energy security blanket for Europe and elsewhere.
Drilling, Field Development, Acquisitions & Divestitures, Liquefied Natural Gas (LNG), Crude Oil, Discoveries
E&P Highlights: June 10, 2024
Here’s a roundup of the latest E&P headlines, including a decline in global drilling activity and new contract awards.
Oil, Gas Firms’ Rising Market Caps Bump Laggards Off S&P Indices
Private equity investment firm KKR & Co. Inc. is among energy-related firms joining the S&P 500 as their market capitalization grows.
Worley to Service BP’s Global Site Projects
BP and Worley’s collaboration plans to save an initial estimated $40 million over two years across BP’s sites where Worley holds a service contract.
TGS Undertakes Multiclient Reprocessing Agreements Offshore Liberia
TGS and the National Oil Company of Liberia plan to reprocess over 24,700 km in the Liberia and Harper basins.
Oceaneering Secures Contract with Petrobras for Offshore Brazil
Oceaneering International Inc. will supply steel tube and thermoplastic electro-hydraulic umbilicals and associated subsea distribution hardware to projects offshore Brazil.