Latest Hart Energy Exclusives

Matador Stock Offering to Pay for New Permian A&D—Analyst

Matador Stock Offering to Pay for New Permian A&D—Analyst

Matador Resources is offering more than 5 million shares of stock for proceeds of $347 million to pay for newly disclosed transactions in Texas and New Mexico.

‘Unexpected’ JV to Move Permian NatGas to Gulf Coast LNG Terminals

‘Unexpected’ JV to Move Permian NatGas to Gulf Coast LNG Terminals

A trio of midstream companies—Enbridge, Whitewater and MPLX—will work together to build infrastructure to transport Permian Basin natural gas to Gulf Coast LNG terminals.

Petrobras to Step Up Exploration with $7.5B in Capex, CEO Says

Petrobras to Step Up Exploration with $7.5B in Capex, CEO Says

Petrobras CEO Jean Paul Prates said the company is considering exploration opportunities from the Equatorial margin of South America to West Africa.

Sold in 66 Days: Inside the Diamondback-Endeavor Deal

Sold in 66 Days: Inside the Diamondback-Endeavor Deal

Diamondback Chairman and CEO Travis Stice first offered “at least $25 billion” for Endeavor Energy Resources on Dec. 8. The deal closed just weeks later for $26 billion.

Marketed: Onyx Resources 40 Well Package in Texas, New Mexico

Onyx Resources has retained EnergyNet for the sale of a 40 well package plus 3,192.48 net leasehold acres in Crane, Ector and Winkler counties, Texas and Lea County, New Mexico.

E&P Briefs

E&P Highlights: March 25, 2024

Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.

Marketed: Onyx Resources 23 Well Package in Texas

Onyx Resources has retained EnergyNet for the sale of a 23 well package plus 1,082.81 net leasehold acres in Archer, Clay, Fisher, Jones, Kent, Stephens, Taylor and Young counties, Texas.

Going Green? Kraft Seeks $170MM from DOE for ‘Delicious Decarbonization’

Going Green? Kraft Seeks $170MM from DOE for ‘Delicious Decarbonization’

Kraft Heinz, a $43 billion food company, is seeking to reduce its annual emissions by 99% through a Department of Energy grant.

ethylene cracker chemical plant

DOE Considers Technip, LanzaTech For $200MM ‘Breakthrough’ Technology Award

The U.S. Department of Energy funding will be used to develop technology that turns CO2 into sustainable ethylene.

Par Pacific Increases Asset-based Revolving Credit Facility by 55%

Par Pacific Asset-based Revolving Credit Bumped Up by 55%

The amendment increases Par Pacific Holdings’ existing asset-based revolving credit facility to $1.4 billion from $900 million.

ChampionX to Acquire RMSpumptools, Expanding International Reach

ChampionX to Acquire RMSpumptools, Expanding International Reach

ChampionX said it expects the deal to extend its reach in international markets including the Middle East, Latin America and other global offshore developments.

What's Affecting Oil Prices This Week? (March 25, 2024)

What's Affecting Oil Prices This Week? (March 25, 2024)

On average, Stratas Advisors are forecasting that oil supply will be at a deficit of 840,000 bbl/d in 2024.

AI Advancing Underwater, Reducing Human Risk

AI Advancing Underwater, Reducing Human Risk

Experts at CERAWeek by S&P Global detail the changes AI has made in the subsea robotics space while reducing the amount of human effort and safety hazards offshore.

Matador Resources Co.

Matador Completes NatGas Connections in Delaware Basin

Matador Resources completed natural gas pipeline connections between Pronto Midstream to San Mateo Midstream and to Matador’s acreage in the Delaware Basin.

Collaboration, not ‘Mythical’ Renewables will Solve Climate Crisis

Collaboration, not ‘Mythical’ Renewables will Solve Climate Crisis

Tinker Energy Associates CEO Scott Tinker is optimistic that a combination of passion, expertise and funding can solve the world’s existential crisis—if the right questions are asked.

Clean Harbors Closes $400MM Acquisition of HEPACO

Clean Harbors Closes $400MM Acquisition of HEPACO

Clean Harbors acquired HEPACO for $400 million, adding complementary services for environmental remediation and emergency response in the Eastern U.S.

Russia Orders Companies to Cut Oil Output to Meet OPEC+ Target

Russia plans to gradually ease the export cuts and focus on only reducing output. 

Exxon, Vitol Execs: Marrying Upstream Assets with Global Trading Prowess

Exxon, Vitol Execs: Marrying Upstream Assets with Global Trading Prowess

Global commodities trading house Vitol likes exposure to the U.S. upstream space—while supermajor producer Exxon Mobil is digging deeper into its trading business, executives said at CERAWeek by S&P Global.

totalenergies

TotalEnergies Restarts Gas Production at Tyra Hub in Danish North Sea

TotalEnergies said the Tyra hub will produce 5.7 MMcm of gas and 22,000 bbl/d of condensate.

The Need for Speed in Oil, Gas Operations

The Need for Speed in Oil, Gas Operations

NobleAI uses “science-based AI” to improve operator decision making and speed up oil and gas developments.

Summit Midstream

Summit Midstream Sells Utica Interests to MPLX for $625MM

Summit Midstream is selling Utica assets to MPLX, which include a natural gas and condensate pipeline network and storage.

Argentina's Vaca Muerta Shale Formation Drives Record Oil Production in February

Argentina's Neuquen province hit a record for daily oil production in February.

Identified Need: Hydrogen Safety Standards in an Emerging Sector

Identified Need: Hydrogen Safety Standards in an Emerging Sector

Establishing fire protection measures remains critical for industry growth.

et roundup

Energy Transition in Motion (Week of March 22, 2024)

Here is a look at some of this week’s renewable energy news, including a new modeling tool for superhot rock.

RIC Energy Sells Seven Solar Plants in New York to Radical Power

RIC Energy Sells Seven Solar Plants in New York to Radical Power

In recent months, RIC Energy sold 13 photovoltaic plants in the state of New York with a total capacity of 70 MW to various companies.

CERAWeek: Two Minutes with EQT’s Toby Rice on Energy Security

CERAWeek: Two Minutes with EQT’s Toby Rice on Energy Security

EQT Corp. President and CEO Toby Z. Rice spoke to Hart Energy on March 20 on the sidelines of CERAWeek by S&P Global to discuss natural gas infrastructure bottlenecks, energy security and the company’s advances on LNG.

US Gas Rig Count Falls to Lowest Since January 2022

The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22. 

CERAWeek: JERA CEO Touts Importance of US LNG Supply

CERAWeek: JERA CEO Touts Importance of US LNG Supply

JERA Co. Global CEO Yukio Kani said during CERAWeek by S&P Global that it was important to have a portfolio of diversified LNG supply sources, especially from the U.S.

CERAWeek: Human Oversight, Machine Power: AI’s Future in Energy

CERAWeek: Human Oversight, Machine Power: AI’s Future in Energy

A CERAWeek panel tackles how AI's hunger for complexity can devour the energy industry's toughest challenges.

IEF Chief: When the Public Figures out Transition’s Cost, ‘We’re in Big Trouble’

IEF Chief: When the Public Figures out Transition’s Cost, ‘We’re in Big Trouble’

Also, developing and undeveloped countries are pushing back, with one African minister saying “we will decarbonize after we carbonize.”