Latest From Hart Energy

US Oil Output Climbs to Highest Since March 2020: EIA

Gross natural gas production in the U.S. Lower 48 states also rose in September to a record 111.2 Bcf/d. That topped the prior all-time high of 110.4 Bcf/d in August.

Germany’s Wilhelmshaven LNG Terminal Set to Start by Year-End

Uniper CEO Klaus-Dieter Maubach said Germany, which lacks hydrocarbon giants of ConocoPhillips’ scale, needed to learn to maneuver in the international LNG market.

Deepwater Production Set to Reach Astronomical Heights by 2030

WoodMac projects deepwater oil and gas production to increase 60% by 2030, reaching 17 million boe/d.

Halliburton Advances Downhole Completion Technology in Brazil

Halliburton plans to continue updating its Fuzion-EH downhole connector for implementation by Brazil’s Petrobras in 2023.

Leak Causes Santos to Shut Down John Brookes Platform

Santos reported that it could take up to six weeks for its John Brookes platform offshore western Australia to return to full production after discovering the small gas leak. 

A&D Minute (Nov. 30, 2022): How E&P Big Guns Are Clearing Out the Competition [WATCH]

Also in this week’s A&D Minute: Who’s been quietly buying acreage in the Permian Basin? Plus see what else is on new mid-cap powerhouse Permian Resources’ radar.

Energy A&D Transactions from the Week of Nov. 30, 2022

Here’s a snapshot of recent energy deals including a $1.55 billion acquisition by Diamondback Energy in the Permian Basin and Shell’s nearly $2 billion RNG deal.

On the Market Oil and Gas Quicklist (Week of Nov. 30, 2022)

Here’s a quicklist of oil and gas assets on the market including Revolution Resources Midcon divestiture plus Canyon Creek Energy - Arkoma package in Hughes County, Oklahoma.

Enbridge Joins Occidental on Carbon Capture Project Near Corpus Christi, Texas

Oxy Low Carbon Ventures and Enbridge Inc. will leverage each other's strengths in a new partnership to develop, construct and operate a Texas Gulf Coast-based carbon sequestration facility and pipeline transportation system.

Scholz Welcomes Qatar LNG Deal as 'Building Block' for German Energy Security

In Berlin's pursuit for new energy partnerships away from Russia, QatarEnergy and ConocoPhillips will export 2 million tonnes per annum of LNG to Germany for at least 15 years starting 2026 through two sales and purchase agreements.

Eni in Preliminary Talks to Buy Neptune Energy for $5-$6 Billion: Source

Neptune produces around 130,000 boe/d, three-quarters of which is gas. It has operations in Norway—home to Eni's Var unit—Britain, Indonesia—where Neptune shares licences with Eni—Algeria, the Netherlands and elsewhere.

Oil Up Over $2 on Tighter Supply While OPEC+ Talks Limit Gains

Capping gains, the OPEC+ decision to hold its Dec. 4 meeting virtually signals little likelihood of a policy change, a source with direct knowledge of the matter told Reuters on Nov. 30.

US Senators Introduce API-Backed Bill to Expand E15 Gasoline Sales

While it is unknown if the bill to expand nationwide sales of E15, a gasoline with a higher blend of ethanol, has the support it needs to pass both the House and Senate to become law, the backing of the oil industry has lifted a notable political obstacle.

Marketed: Millennial Energy Partners Affiliate Nonop South Texas Well Package

YTEF Non-Op Capital LLC, an affiliate of Millennial Energy Partners, retained EnergyNet for the sale of nonoperated working interest in producing wells operated by SM Energy Co. in Webb County in South Texas.

How E&Ps’ ESG Disclosures Fare Ahead of SEC Proposals

Haynes Boone partner Stephen Grant explained how forthcoming regulations from the U.S. Securities and Exchange Committee will affect how public oil and gas companies implement ESG metrics into their businesses.

Venezuela to Sign New Contracts to Boost Oil Output at Joint Ventures

"It is a regular practice for Chevron Venezuela leadership to meet with authorized PDVSA and government representatives in relation to the activities that the company is authorized to undertake in the country," Chevron said.

US Coast Guard Says Calcasieu, Louisiana Oil Spill Contained

On Nov. 28, an approximated 3,500 gallons of lubricant oil from a Martin Energy Services secondary containment facility spilled near Calcasieu Point Landing, La.

Coterra Energy to Pay $16.3 Million for Pennsylvania Water Contamination Plea

The Pennsylvania attorney general charged Coterra Energy in 2020 after a grand jury investigation showed that drilling unconventional gas wells by the company had been responsible for methane pollution in the local water supply.

‘Now Do Australia’: Shale Royalty

Shale royalty Bryan Sheffield and Dick Stoneburner shift their attention to Australia.

Forty Under 40: Ashley Gilmore, Tracts

Today's featured Forty Under 40 honoree is Ashley Gilmore, who serves as CEO of Tracts based in Fort Worth, Texas.

Norway to Postpone Oil and Gas Licensing Round

The government, in power since last year and led by Labour Party Prime Minister Jonas Gahr Stoere, has pledged to “develop, not phase out” offshore petroleum production, Norway’s biggest industry.

Equinor to Drill 25 Exploration Wells Off Norway Next Year

A “small handful” of wells will be drilled in the Norwegian and the Barents Seas each, Jez Averty, Equinor’s head of exploration and production in Norway, told Reuters on the sidelines of an energy conference.

China’s Xi Looks to Strengthen Energy Ties with Russia

In response to a G7 proposal to cap Russian oil prices, the Kremlin has promised to re-route supplies to countries that do not support the idea, with both China and India increasing oil purchases from Moscow.

Could Carbon Capture be Mission Impossible?

CCUS has the potential to decarbonize 45% of remaining emissions from carbon-intensive industries, according to McKinsey & Co. research, but achieving that level of reduction is mission impossible with the current level of investment.

ConocoPhillips, QatarEnergy to Supply Germany with LNG Starting in 2026

ConocoPhillips and QatarEnergy signed two agreements to ship Qatari-produced LNG to Germany starting in 2026, helping to fill the energy supply gap created in that European country by reduced gas flows from sanctioned Russia.

Russia has Lost Europe as Its Largest Energy Client ‘Forever,’ IEA’s Birol Says

When asked about the impact of the EU measures, IEA’s Fatih Birol said: “We expect towards the end of the first quarter 2023 that there may be a loss of 2 million barrels per day of Russian oil and there is a need to replace that oil.”

Marketed: Revolution Resources Midcon Divestiture

Revolution Resources LLC retained RedOaks Energy Advisors for the sale of certain operated and nonoperated properties in two producing, low-decline fields located in Oklahoma’s Caddo and Grady counties.

NOAA Reports 2022 Atlantic Hurricane Season’s Official End

The NOAA said the unique season this year was defined by a rare mid-season pause in storms that scientists preliminarily believe was caused by increased wind shear and suppressed atmospheric moisture high over the Atlantic Ocean.

Bakken EOR Trial Increased Output by 25%

Pilot project shows alternating produced gas with water/surfactant EOR mix boosts production and cuts costs in the Bakken shale.

JERA Expects Fire-Hit Freeport LNG Texas Shipments to Fully Resume by March

Freeport LNG is expected to resume partial operation in December and reach about 80% of operations in early January.