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Private Equity
KKR Commits up to $1 Billion to US Solar Firm after Acquiring Stake
Washington, D.C.-based solar energy firm Sol Systems and KKR announced a new strategic partnership in which KKR is committing up to $1 billion to acquire shovel-ready projects.
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MarketsSee More
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.
Oil Falls More Than $2 after OPEC+ Producers Agree to Raise Output
Oil prices fell sharply on July 19 after OPEC+ overcame internal divisions and agreed to boost output, sparking concerns about a crude surplus as COVID-19 infections rise in many countries.
FERC to Hear Total Alleged $214 Million Natural Gas Manipulation Case
FERC alleged Total made intentionally losing trades—known as “uneconomic” trading—in order to affect index prices in the U.S. Southwest on at least 38 occasions between 2009 and 2012.
Electricity Demand Rebound to Require More Fossil Fuel Generation: IEA
Nearly half of the increase in global electricity demand will have to be met by burning fossil fuels, notably coal, says the IEA adding it expects particularly strong demand in the Asia Pacific region, primarily China and India.
BusinessSee More
Oil and Gas Investor: The Role of Tech and Service in Energy Transition
The oil and gas industry is being pressured in multiple ways to reduce emissions and redouble energy transition efforts but the technology and services sector is already making progress. Here’s how.
Kinder Morgan Trims Annual Earnings Outlook on Lower Volumes
Pipeline operator Kinder Morgan took a non-cash impairment charge of $1.6 billion in the second quarter related to anticipated lower volumes and rates on contract renewals for its South Texas natural gas processing and gathering assets.
Hess Sets ‘Aggressive’ Emission Reduction Targets as ESG Performance Soars
Hess was recognized as the No. 1 energy company on the 100 Best Corporate Citizens list for its outstanding ESG transparency and performance this past year, the global independent oil and gas company said.
Earthstone Updates Guidance after Closing Latest Permian Acquisition
So far in 2021, Earthstone Energy has completed two acquisitions in the Permian Basin and announced another in the Eagle Ford Shale for a total of $360 million spent in aggregate acquisitions, says CEO Robert J. Anderson.
TechnologySee More
Neptune Energy Digitizes Wells with Gaming Tech to Enhance Production, Cut Costs
The new digital twins of Neptune’s wells were developed in collaboration with InformatiQ, a leading oil and gas data visualization specialist that combines infrastructure, wells and geology data to create detailed 3D models.
Enteq Upstream Appoints Suki Gill as Vice President of Business Development
Enteq Upstream, the oilfield services technology and equipment supplier, has appointed Suki Gill as the vice president of business development to drive the company’s technology growth, Enteq said on July 21.
TotalEnergies, Technip Partner to Advance Low-Carbon Solutions for LNG, Offshore Facilities
TotalEnergies and Technip Energies signed a technical cooperation agreement on July 21 to jointly develop low-carbon solutions for LNG production and offshore facilities to accelerate the energy transition.
Baker Hughes Profit Falls 9% from Q1 as Oilfield Services Demand Remains Tepid
Oilfield services provider Baker Hughes Co. said on July 21 its adjusted profit fell 9% in the second quarter from the previous three months and it missed Wall Street estimates for earnings, as crude producers kept a tight lid on spending.
Exploration & ProductionSee More
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.
Greenland Ends Unsuccessful 50-Year Bid to Produce Oil
Greenland has ended its 50-year ambition to become an oil producing nation after announcing on July 16 it would suspend a strategy of searching for oil and would stop granting exploration licenses.
US Natgas Producers Hope Customers Will Pay More for 'Green Gas'
U.S. natural gas producers hope climate-conscious electric utilities and gas exporters will pay a premium for what they say is "greener gas" that has been certified as coming from low-emission operations or from renewable sources such as landfills.
Permian Tech Talk
In this roundtable, Baker Hughes, NOV and TGS experts share their insights on latest technology innovations and happenings in the Permian Basin.
TransactionsSee More
Whiting Petroleum to Exit D-J Basin in A&D Double Play
Whiting Petroleum entered into separate definitive agreements totaling $458 million to acquire Williston Basin assets in North Dakota and divest all its oil and gas assets in the D-J Basin of Colorado.
Marketed: Pony Oil Operating Delaware Minerals Acquisition Opportunity
Pony Oil Operating LLC retained Detring Energy Advisors for the sale of its oil and gas mineral and royalty interests in the Delaware Basin located throughout New Mexico’s Lea and Eddy counties.
Energy A&D Transactions from the Week of July 21, 2021
Here’s a snapshot of recent energy deals including Kinder Morgan’s entry into the energy transition space through a $310 million acquisition.
On the Market Oil and Gas Quicklist (Week of July 21, 2021)
Here’s a quicklist of oil and gas assets on the market including the sale of producing conventional properties in the East Texas Basin by Rockcliff Energy plus Blackbeard Operating Delaware Basin working interest.
Policy & RegulationsSee More
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.
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.
US, Germany Deal on Nord Stream 2 Pipeline Draws Ire of Lawmakers in Both Countries
The agreement will resolve a long-standing dispute over the $11 billion pipeline, now 98% complete, being built under the Baltic Sea to carry gas from Russia's Arctic region to Germany.
US, Germany to Vow Action on Russia in Nord Stream 2 Deal
U.S. officials insist they continue to oppose the Nord Stream 2 gas pipeline, but said the U.S.-German agreement would mitigate the possibility of Russia using energy as a weapon.
MidstreamSee More
Oil and Gas Investor: Midstream’s Survival—Bloody, but Unbowed
Shell-shocked E&Ps posed challenges for midstream companies during the pandemic, but strategies based on renegotiating contracts, positioning for advantage in upcoming bankruptcies and broadening product offerings have shown that the sector has plenty of fight.
Kinder Morgan Says Permian Basin, Haynesville Will Need New Natural Gas Pipelines
Kinder Morgan CEO Steven Kean told analysts during a conference call late on July 21 that the Permian Basin will probably need another gas pipeline in the middle of the decade.
Energy Transfer to Finish Mariner East Expansion in Pennsylvania Despite Opposition
Mariner East transports liquids from the Marcellus/Utica shale in western Pennsylvania to customers in the state and elsewhere, including international exports from Energy Transfer’s Marcus Hook complex.
NGL Energy Partners Completes Initial Delaware Basin Wastewater Recycling Project
The initial project, which began in late May, supported a NGL customers’ highly efficient simultaneous fracturing, or simul-frac, completion activities in New Mexico’s Lea County within the northern Delaware Basin.
