The Latest

Baker Hughes: US Drillers Keep Oil, NatGas Rigs Unchanged for Second Week

U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for the second week in a row. 

Surge Closes on Divestment of Alberta Non-Core Gas Assets

Surge Energy said it has focused on developing its core Sparky and southeast Saskatchewan crude oil assets, leaving the Alberta non-core assets undercapitalized.

Kissler, Wyett: Trump Tariffs and Potential Energy Market Aftershocks

U.S. production and prices may increase; global cooperation may decrease; but Trump’s previous tariffs had less of an impact on import prices than the COVID pandemic.
 

Kinder Morgan Reaches FID for $1.4B Mississippi NatGas Pipeline

Kinder Morgan plans to keep boosting its capacity to the Southeast and is moving forward with a 206-mile pipeline with an initial capacity of 1.5 Bcf/d.

NatGas Rally Reaches 2024 Peak, Highest Price in Two Years

Analysts say the gas market remains volatile as prices surpass $3.50/MMbtu at the Henry Hub for the first time in about two years.

Diamondback Subsidiary to Invest $50MM in Verde Clean Fuels

Diamondback Energy subsidiary Cottonmouth Ventures LLC’s investment will consist of buying 12.5 million shares of Verde Class A common stock, making Cottonmouth the company’s second largest shareholder.

Power Co. Proposes NatGas Plants Near Texas Haynesville Shale

An American Electric Power (AEP) subsidiary plans to develop two natural gas-fired generation projects near the prolific Texas Haynesville shale play.

Analysts: DOE’s LNG Study Will Result in Few Policy Changes

However, the Department of Energy’s most recent report will likely be used in lawsuits against ongoing and future LNG export facilities.

Reliance Exercises Four-Well Option on Transocean Rig

Transocean Ltd. says the 270-day program will contribute about $111 million in backlog.

Petrobras Awards Seadrill Two Drillship Contracts Off Brazil

Seadrill said the West Jupiter and West Tellus contracts both have a three-year duration and will add nearly $1 billion to the company’s backlog.