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Latest Hart Energy Exclusives
TotalEnergies Plans to Capture 1 Million Tonnes/Year in PNG Megaproject
The Papua LNG project is jointly owned by Exxon Mobil Corp., Santos Ltd. and Kumul Petroleum and produces 5.4 million tonnes of LNG per year.
Venezuela's PDVSA, Chevron to Address Joint Venture Workers After License
Venezuelan President Nicolas Maduro recently said that Chevron "will soon be producing and the oil reaching markets worldwide" at PDVSA's headquarters.
Coal Company Acquires Nearly $100 Million in Permian Royalty Interests
Alliance Resource Partners made two purchases of royalty interests in the Midland and Delaware basins totaling more than 4,300 net acres.
Sempra Agrees to Sell Port Arthur Project LNG to ENGIE
The long-term sale and purchase agreement will involve a 15-year agreement between the two companies and carbon intensity minimization approaches.
Bidding Continues in Historic U.S. Floating Wind Auction Offshore California
The highest bid, so far, is for more than $100 million for a wind lease area offshore central California.
ProFrac Holding Corp. Acquires Monarch Silica Eagle Ford Sand Mine
Monarch's production capacity is expected to expand to nearly 4 million tons per year by first-quarter 2023, ProFrac said.
Continental Resources Names Doug Lawler CEO
Lawler will begin his term at the start of 2023 as Bill Berry moves into retirement.
From Underdog to Big Dog: Phoenix Capital Group Touts D-J Basin Deal
The company doesn’t mince words, whether it’s calling out “unsavory, unethical and dishonest mineral shops,” lowball offers or celebrating its wins over its better-capitalized competitors.
Russia's Output Up 2% Ahead of EU Ban, Price Caps
Company sources said that Russian oil output could fall by 500,000 to 1 MMbbl/d in 2023 after the EU ban.
Ørsted Plans Large-Scale Green Hydrogen Project in Denmark
Power-to-X facility is part of plans for decarbonization and to end reliance on Russian fossil fuels.
White House to Ask Oil and Gas Execs to Support Ukraine Energy Infrastructure
The question arises as Russia targets Ukrainian energy assets during harsh winter conditions.
Australia in Talks to Help Papua New Guinea Buy $1.1 Billion PNG LNG Stake
Santos Ltd. first announced PNG's Kumul Petroleum made a bidding offer to buy its 5% stake in PNG LNG in September subject to other joint venture partners.
Norway to Make First Offshore Wind Tender Awards by Autumn 2023
Norway plans on commissioning up to 30 gigawatts of offshore wind capacity by 2040.
ABS, Hyundai Heavy Industries Partner to Reduce Human Error
Hyundai Heavy Industries agreed to add autonomous navigation, maintenance and detection software to ABS ships.
Consortium Seeks First Proposals for Carbon Capture Shipping Project
The Global Centre for Maritime Decarbonization in Singapore is part of the consortium that will study ways to offload captured CO2 from ships during port calls.
Equinor, PGNiG to Submit PDO Plan for Verdande Field
The Verdande field, comprised of the Cape Vulture and Alve Northeast discoveries, contains a total of 36.3 MMboe.
Expert: OPEC’s Production Hold Reveals Shift from Active to Reactive
Oil cartel will take its time to evaluate impact of the EU’s ban on seaborne imports and the G7’s $60/bbl price cap for Russian crude.
Oil Falls Over 3% Amid Fears More Fed Interest Rate Hikes Coming
Russian oil caps, OPEC+ inertia and new data challenges hopes that the Fed might slow the pace and intensity of its rate hikes
E&P Highlights: Dec. 5, 2022
Here’s a roundup of the latest E&P headlines including field upgrade plans being approved and a development milestone for a Senegalese field from the past week in the upstream oil and gas industry.
Vertice Oil Tools Adds to Completions Portfolio with MorphPackers Acquisition
The expansion of Vertice’s portfolio will allow for more extensive services it can provide to its customers to handle growing re-frac market.
Laredo Petroleum Claims Mantle as Permian’s First Producer of Responsibly Sourced Oil, Gas
The company's recent ESG report also included an announcement that Laredo will rebrand as Vital Energy in 2023.
ADNOC, Petronas Sign Abu Dhabi Unconventional Oil Resources Deal
"ADNOC will continue to responsibly unlock value from Abu Dhabi’s vast hydrocarbon resources in a reliable and sustainable manner," ADNOC's Sultan Ahmed al-Jaber said at the deal signing.
New ChampionX Cage Design Lowers Pressure Drop to Reduce Rod Lift Wear
ChampionX’s re-engineered cage design minimizes energy loss when opening and closing its reciprocating rod pump cage.
Russia Vows to Sell Oil Only at Market Price in Defiance of G7 Price Caps
So far, Russia's ESPO oil blend was selling for around $79 a barrel in Asian markets on Dec. 5, almost a third higher than the new price caps.
What's Affecting Oil Prices This Week? (Dec. 5, 2022)
Stratas Advisors considers the Brent crude outlook following OPEC+'s decision to reduce crude supply by 2 MMbbl/d, along with the $60 price cap on Russian oil implemented by G7 countries, the European Union and Australia.
Bison Water Midstream Acquires STACK Infrastructure from Lagoon, Overflow Energy
Bison Water Midstream, which bills itself as the largest water infrastructure and logistics company in Oklahoma, added recycling and storage facilities in the pair of STACK deals.
Hess Inks $750 Million Carbon Credit Deal with Guyana
Hess Corp. inked a long-term strategic partnership with the government of Guyana to purchase carbon credits as part of a plan to prevent deforestation and support sustainable development in one of the world’s most heavily forested regions.
Equatorial Guinea Minister Will Assume OPEC Presidency in 2023
Through the appointment of Gabriel Mbaga Obiang Lima as president of OPEC, Equatorial Guinea and the continent of Africa will play a more prominent role in the global energy sphere.
Exxon Mobil Adds to Board of Directors, Raises Top Executives Base Pay
Former Continental Airlines CEO Larry W. Kellner and former Raytheon International CEO John D. Harris II are slated to join Exxon Mobil's board of directors.
BP Doubles Down on Hydrogen as Fuel of the Future
BP CEO Bernard Looney and head of renewables Anja-Isabel Dotzenrath are anticipated to reveal new hydrogen production targets for the company in February.