Latest From Hart Energy
McDermott to Sell Storage Business to Mason Capital-led Consortium
Roughly seven years after McDermott International acquired CB&I for $6 billion, the storage solutions business is being sold to a consortium led by Mason Capital Management.
Tellurian Stockholders Approve $900MM Woodside Acquisition
Woodside Energy has said it expects to close the acquisition of Tellurian, and its Driftwood LNG permitted facility, by December.
India’s GAIL, AM Green Form Renewable Energy, E-methanol Partnership
The renewable energy projects in India will target solar and wind and the focus of GAIL and AM Green’s partnership focus will be on lining up long-terms supplies of CO2 to produce e-methanol.
What's Affecting Oil Prices This Week? (Oct. 7, 2024)
Given last week’s price increase, Stratas Advisors estimates that the oil market is placing about a 10% probability that the conflict between Israel and Iran will result in a disruption to the flow of oil
Equinor Acquires Nearly 10% Stake in Ørsted for $2.5B
Equinor becomes the second largest stakeholder in Ørsted with its $2.5 billion acquisition of the Danish company’s shares.
TotalEnergies, RWE Partner on German North Sea Wind Projects
TotalEnergies and RWE aim to commission two wind projects, N-9.1 and N-9.2, in 2031 and 2032.
Chevron Sells Canadian Oil Sands, Duvernay Shale Assets for $6.5B
Chevron said the divestitures are part of its plans to sell $10 billion to $15 billion worth of assets by 2028 following the company’s acquisition of Hess Corp. for $53 billion.
Financiers: Family Offices Worldwide are Queuing to Invest in E&P
U.S. family offices have stepped in quickly to fill the void left by other investors while family desks abroad have been slow to move but they’re watching closely, financiers say.
Martin Resources Steps Up Offer for Martin Midstream
Martin Resources Management will pay $132 for Martin Midstream, which it had previously spun off, after a pair of New York capital groups counteroffered at a higher price.
Murphy Oil Names New CEO, Adds Two Directors to Board
Murphy Oil’s current COO Eric M. Hambly has been appointed to CEO and president, succeeding Roger W. Jenkins. The board also added Hambly and Robert B. Tudor III as new directors.
Utica Oil E&P Infinity Natural Resources Latest to File for IPO
Utica Shale E&P Infinity Natural Resources has not yet set a price or disclosed the number of shares it intends to offer.
Kimmeridge’s Dell: Every US Basin Contains Both High-quality Inventory, Risk
Inventory management is a problem for the E&P space, no matter the basin, said Kimmeridge Energy Management's Ben Dell at Hart Energy's Energy Capital Conference in Dallas.
Private Equity Gears Up for Big Opportunities
The private equity sector is having a moment in the upstream space.
Venezuela Lost Citgo, But the Battle’s Not Over Yet
Amber Energy’s $7.3 billion purchase of Citgo fell well short of analyst’s valuations. PDVSA Ad Hoc expects to appeal the decision soon in its battle to protect its claim on Citgo.
Energy Transition in Motion (Week of Oct. 4, 2024)
Here is a look at some of this week’s renewable energy news, including the startup of a solar module manufacturing facility with an annual 2-gigawatt capacity.
Matterhorn Express Ramps Up Natural Gas Flow
The Matterhorn Express Pipeline flowed 317 MMcf of natural gas to customers on Oct. 1, according to East Daley Analytics.
US Drillers Cut Oil, Gas Rigs for Third Week in a Row
The oil and gas rig count fell by two to 585 in the week to Oct. 4.
Public Capital, Exploration & Production, Crude Oil, Natural Gas, Investment, Shale Plays, Energy Capital Conference
Sheffield: E&Ps’ Capital Starvation Not All Bad, But M&A Needs Work
Bryan Sheffield, managing partner of Formentera Partners and founder of Parsley Energy, discussed E&P capital, M&A barriers and how longer laterals could spur a “growth mode” at Hart Energy’s Energy Capital Conference.
Growth Through M&A: The Making of an Eagle Ford and Uinta Giant
Crescent Energy CEO discusses the expanding gravitational pull of Crescent after acquiring SilverBow and others.
Now, the Uinta: Drillers are Taking Utah’s Oily Stacked Pay Horizontal, at Last
Recently unconstrained by new rail capacity, operators are now putting laterals into the oily, western side of this long-producing basin that comes with little associated gas and little water, making it compete with the Permian Basin.
Chesapeake, Southwestern Complete Merger to Create Largest US Natgas Co.
Chesapeake Energy Corp. has closed on its $7.4 billion takeover of Southwestern Energy Co. to create Expand Energy.
Exclusive: Sheffield Clears the Air, Formentera is Not Just a PDP Buyer
Formentera Founder and Partner Bryan Sheffield delves into the company's drilling operations including the unique history of how Formentera took up assets in Australia's Beetaloo, in this Hart Energy Exclusive interview.
Texas Pacific Land Closes $290MM Permian Minerals, Royalties Deal
Texas Pacific Land Corp. acquired Permian Basin oil and gas minerals and royalties operated by Exxon Mobil, Diamondback Energy, Occidental Petroleum and ConocoPhillips.
The Karl Rove Oil Executive Poll Result: The Industry Is Not Happy
A show of no hands revealed more than 400 attendees at Hart Energy’s Energy Capital Conference are not happy with U.S. politics today—and have no confidence it will be better after Nov. 5.
Exxon Mobil Ramps Up $400MM CCS Project in Wyoming
The $400 million project will expand capture capacity by up to about 1.2 million metric tons of CO2 per year, Exxon Mobil said.
After BKV’s IPO, Is Market Open to More Public SMID Caps?
The market for new E&P and energy IPOs has been tepid since the COVID-19 pandemic. But investor appetite is growing for new small- and mid-sized energy IPOs, says Citigroup Managing Director Dylan Tornay.
US Navy Taps Sage Geosystems for Geothermal Initiatives in Texas
The expanded collaboration with the Department of Defense follows Sage-led geothermal initiatives at Fort Bliss and the Ellington Field Joint Reserve Base in Texas.
AI: Herald of New Shale Age or Last-ditch Effort to Save Industry?
AI’s ability to optimize may usher oil and gas into a new age—or simply improve on past unconventional recovery methods—depending on who you talk to.
RWE Breaks Ground on Battery Storage Project Trio in Texas
The Crowned Heron 1, Crowned Heron 2 and Cartwheel 1 projects will have a combined power capacity of 450 MW, RWE says.
Oxy’s 1PointFive Lands US Funding for Carbon Sequestration Hubs
1PointFive plans to use the funding to advance site characterization activities, permitting and environmental approvals for construction at each hub, Occidental said.