The lawsuit filed by Exxon Mobil’s natural gas business said last month’s massive winter storm and declarations of emergencies in Texas prevented it from fulfilling its supply commitment to Macquarie, the second largest U.S. gas marketer.
The universe’s most abundant element, hydrogen has been touted for decades as an alternative energy source to fossil fuels, but attempts to commercialize it for use in vehicles and industry have largely failed.
Investor pressure has mounted for Exxon to cut costs, improve financial returns and better prepare for the energy transition to lower-carbon fuels.
Exxon Mobil’s announcement also follows European major Shell’s decision in November to cut 500 staff and halve its crude processing capacity in Singapore
At CERAWeek, OPEC vs. U.S. shale is often discussed as a showdown between competing interests, but the dynamic of Texas vs. the Middle East is nearly invisible this year.
Russell Artho joined the EnergyNet team in 2018 as controller and his promotion to CFO is reflective of his “dedicated leadership and thoughtful contributions,” says Chris Atherton, CEO of the A&D advisory firm.
Waterous’ latest offer was to buy up to 57 million shares of the oil and gas producer at C$3 per share, implying a deal value of C$171 million ($135.62 million).
Greg Beard, who previously headed Apollo’s global natural resources group for nearly a decade, will file for an IPO for a SPAC in the coming weeks, one of the sources said.