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Oil and Gas Investor Profile: Champion X—Until the Last Drop

Company Profiles

Oil and Gas Investor Profile: ChampionX—Until the Last Drop

Meet ChampionX president and CEO Soma Somasundaram, the man with a bold vision, who is on track to build a durable franchise well-positioned to survive until the last drop of oil is pumped.

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IndustryVoice: It’s Time To Rethink Your Business: Incorporating Drones Into Your Solar Energy Operations

Solar companies are realizing the benefits drones are bringing to their operations.

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Discoveries

Exxon Mobil-led Group Logs New Oil Discovery Offshore Guyana

The discovery adds to the previous recoverable resource estimate of approximately 9 billion oil equivalent barrels.

MarketsSee More

Oil Prices on Track for Strong Weekly Gain

Oil Prices on Track for Strong Weekly Gain

“The oil market no longer appears to be viewing the issue of the Delta variant with quite the same alarm as it was at the beginning of last week,” said Commerzbank analyst Carsten Fritsch.

Op-ed: US Natural Gas Prices at Multiyear Highs Will Protect Stocks

In the short term, higher gas prices will encourage power generators to run gas-fired turbines for fewer hours over the next few months, running coal-fired units instead, to reduce gas combustion.

US Weighs Crackdown on China’s Import of Iranian Oil

Chinese refiners are the biggest importers of Iranian oil. That U.S. officials are hinting at a possible crackdown may be a veiled threat that Washington has ways to exact a price from Tehran, says analyst.

Climate Policies Unlikely to Disrupt Oil Demand Growth, Study Shows

Climate Policies Unlikely to Disrupt Oil Demand Growth, Study Shows

High levels of government intervention in climate policy will likely not slow down oil demand over the next decade, new study says.

BusinessSee More

Hart Energy Unveils Oil and Gas Investor’s 2021 Class of ‘Forty Under 40’

Hart Energy Unveils Oil and Gas Investor’s 2021 Class of ‘Forty Under 40’

Oil and Gas Investor’s “Forty Under 40” recognition program honors champions of the next generation of oil and gas professionals.

Chevron Joins Share Buyback Stampede as Profit Tops Estimates

Lower costs and higher prices generated the highest cash flow in two years, enabling Chevron to pare debt and resume share repurchases, company executives said.

Kimbell Royalty Partners Launches $200 Million SPAC

The SPAC—named Kimbell Tiger Acquisition Corp.—will target the energy and natural resources space in North America, said Kimbell Royalty Partners, which will control the company’s sponsor.

Big Oil Back to Boom after Pandemic Bust, Aiding Climate Push

Europe's top energy companies signaled confidence in a lasting recovery from the pandemic impact on July 29 by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll out risky climate strategies.

TechnologySee More

digital drilling - E&P - Baker Hughes - Saudi Aramco

Digital Drilling: Taking Remote Solutions to the Next Level

In a landmark project, Baker Hughes delivered data management and insights across Saudi Aramco’s entire drilling fleet, making it the largest deployment in Baker Hughes’ history.

Halliburton Launches Low Cost, Direct Fracture Monitoring Service

Halliburton Co. has introduced ExpressFiber, a single-use fiber optic cable that offers accurate, direct subsurface measurements, including cross-well communication, at a price point that enables fracture monitoring on every well pad, the company said on July 27.

ProPetro Promotes Sam Sledge to CEO in Leadership Transition

As Sam Sledge takes the helm as CEO at Midland, Texas-based ProPetro, he replaces Phillip Gobe, who had headed the company since the exit of its co-founder last year.

Reveal Energy Services Enhances ORCHID Completions Evaluation Platform

Reveal Energy Services has released version 2021.2 of its ORCHID completions evaluation platform, which supports the interpretation and analysis of distributed acoustic sensing (DAS) data acquired from casing or dip-in fiber optics, the company said on July 26.

Exploration & ProductionSee More

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OFS Sector Outlook: US Shale Spending, Rig Counts Rise

As public E&Ps stay disciplined and privates take an ‘aggressive approach’ across the U.S. shale patch, analysts see continued efficiency gains and rising costs from oilfield service companies.

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ConocoPhillips Sees More Upside with Technology Post Concho Deal

ConocoPhillips continues to find ways to improve through the use of refracs, simul-fracs and other technologies, says Jack Harper, former Concho exec now leading Conoco’s Permian Basin team.

Home to some of what Scott Angelle calls the most environmentally advantaged barrels, the U.S. has an opportunity to import less energy from places with higher carbon intensities, he says. (Source: Contributed/Shutterstock.com)

Q&A: Scott Angelle on the Environmental Advantage of US Oil, Gas

Former BSEE director Scott Angelle shares his thoughts on the energy transition and why the U.S. has some of the most environmentally advantaged barrels compared to other parts of the world.

Diamondback Energy CFO Kaes Van’t Hof speaks with Hart Energy’s Nissa Darbonne on July 13 during the DUG Permian & Eagle Ford conference in Fort Worth, Texas. About 2,200 people attended the event. (Source: Joseph Markman/Hart Energy)

Fighting the Fight: Diamondback Energy Shares Survival Tactics

Public oil and gas producers will be judged on LOE and G&A plus their emissions profile, methane intensity and flaring, according to Diamondback CFO Kaes Van’t Hof.

TransactionsSee More

Oil and Gas Investor A&D Trends: Automatic Earth

Oil and Gas Investor A&D Trends: Automatic Earth

After months of buying and selling chaos, oil and gas A&D finally went full-on Adderall as it barreled into the official start of summer.

Marketed: Paradox Basin Opportunity, San Juan County, Utah

EnergyNet was retained for the sale of a Paradox Basin opportunity in San Juan County, Utah, through a sealed-bid offering that includes three separate drilling opportunities.

Marketed: BHCH Mineral Legacy Mineral, Royalty Portfolio

BHCH Mineral Ltd. retained TenOaks Energy Advisors for the sale of an undivided 50% of its legacy mineral and royalty portfolio located across numerous basins in the continental U.S. broken up into four sub-packages.

Marketed: Gary Permian Delaware Basin Development, Pecos County, Texas

Gary Permian LLC retained PetroDivest Advisors for the sale of oil and gas properties, leasehold and related assets within the southern Delaware Basin in Pecos County, Texas.

Policy & RegulationsSee More

Home to some of what Scott Angelle calls the most environmentally advantaged barrels, the U.S. has an opportunity to import less energy from places with higher carbon intensities, he says. (Source: Contributed/Shutterstock.com)

Q&A: Scott Angelle on the Environmental Advantage of US Oil, Gas

Former BSEE director Scott Angelle shares his thoughts on the energy transition and why the U.S. has some of the most environmentally advantaged barrels compared to other parts of the world.

Review of Federal Oil, Gas Leasing Program Nearing Completion: Haaland

The Biden administration earlier this year stopped holding federal oil and gas lease sales, pending the review, but a federal judge last month ruled that his leasing freeze was unlawful.

Merkel Defends US Nord Stream 2 Deal as Ukraine Cries Foul

German Chancellor Angela Merkel on July 22 defended a deal with the United States that allows the Nord Stream 2 gas pipeline to proceed as a pragmatic compromise, but Ukraine said the agreement was too weak to ensure Russia behaves the way Kyiv and the West want.

Canada's Quebec Rejects LNG Export Project, Citing Environmental Concerns

The Canadian province of Quebec on July 21 rejected a LNG export project for the Port of Saguenay, citing environmental concerns, in the latest blow to North American LNG development.

MidstreamSee More

Buckeye Partners to Acquire Solar Development Project in Texas

Buckeye Partners to Acquire Solar Development Project in Texas

The acquired project, located south of Dallas, adds solar generation capacity to Buckeye’s existing renewable energy portfolio and positions the company to “meaningfully participate in the energy transition,” Buckeye Partners says.

Enterprise Oil Pipeline Volumes Rise on Demand Recovery

Strong prices and lower inventories at the Cushing oil storage hub in Oklahoma are signaling that volume needs to stay in the U.S. at least for now, co-CEO A. J. Teague added during the company’s post-earnings call.

Enbridge US TETCO Natgas Pipe Prepares to Return to Full Service

Enbridge Inc.'s Texas Eastern Transmission (TETCO) unit said on July 26 it provided all the information federal safety regulators requested and is preparing to increase pressure in its Pennsylvania to Mississippi pipeline as soon regulators approve.

Energy Transfer Says Addressed Most DAPL Safety Issues Raised by PHMSA

PHMSA on July 22 put Energy Transfer on notice for the probable violations pertaining to the operation of the Dakota Access Pipeline and proposed a civil penalty against it.