Latest From Hart Energy

‘We Can Handle It’: Why Oil and Gas Needs to Police Its Own Emissions

Experts from Schlumberger and Halliburton discuss the challenges of managing emissions in the oil patch—and what the oil and gas industry can do about them.

Europe’s Gas Supply Crisis Grows after Russia Imposes Sanctions

Moscow’s sanctions came just a day after Ukraine halted a gas transit route, blaming interference by occupying Russian forces, the first time exports via Ukraine have been disrupted since the invasion.

Decommissioning: Taking a Cleaner, Greener Approach to Subsea Retrieval

DOF Subsea is on the case with an impressive 99% recycling and reuse rate in North Sea decommissioning project

Technip, Saulsbury Win Contract for Exxon Mobil Carbon Capture Project

Technip Energies and Saulsbury Industries will provide engineering, procurement and construction services for Exxon Mobil's Wyoming facility to increase carbon capture capacity and CO2 transportation pipeline.

Shell Sells Russian Retail Business to Lukoil

The deal includes 411 retail stations and a lubricants blending plant.

IEA Now Sees World Weathering Lost Russian Oil Supply

IEA's analysis suggests the economic impact from further sanctions on Russian energy mulled by the European Union could be limited.

Equinor AGM Rejects Activist Calls for Emission Cuts

"Right now the world is dealing with a situation where energy security is high on the agenda, particularly in Europe," Equinor's chairman told the annual general meeting. 

Canada's Trans Mountain Secured C$10 Billion in Financing to Cover Construction Costs

Canadian Trans Mountain Corp. will expand the Trans Mountain pipeline to bring more crude oil to the Pacific coast from Alberta with the help of C$10 billion in financing.

US Scraps Three Offshore Oil and Gas Drilling Auctions

The three sales were the last to be held under a 5-year plan for leasing in federal waters on the outer continental shelf. That plan expires in June, and the Biden administration has not finalized a new program.

Lapis Energy CEO Discusses New Arkansas CCS Project

A new carbon capture project announced by Lapis Energy and LSB Industries will be the first CCS project in the state of Arkansas and only the third project from ammonia production in the U.S.

Occidental CEO Says More Oil Production Would Hurt Shareholders

Occidental Petroleum will resume its share repurchase program this quarter after reaching its $20 billion net debt target, CFO Robert Peterson also said during the call.

Oil Prices Up More Than 5%, as Russia-EU Energy Quarrel Intensifies

“Prices are going to continue to move on up especially if the European Union comes to an agreement to phase out Russian oil purchases over the balance of this year,” said Andrew Lipow, president of Lipow Oil Associates in Houston.

IEA Expects Record Renewable Growth Despite Cost, Supply Problems

Renewables growth in  2021 was led by China, the EU and Latin America in 2021, the IEA said, but it had lagged in the U.S.

Fort Worth-based Valor Promotes Adam Powell to Chief Accounting Officer

The creation of the new chief accounting officer role and Adam Powell’s promotion is directly related to Valor’s rapid growth over the past year, doubling in both size and revenue, the Fort Worth, Texas-based company said.

OSI Renewables Aims to Improve Offshore Wind Costs, Efficiency

The renewables arm of Oil States Industries is working to test a prototype of its new fixed TLP in the North Sea next year.

Bulgaria to Receive US LNG Deliveries from June

The arrangement to receive U.S. LNG supplies was agreed at a meeting between Bulgaria Prime Minister Kiril Petkov and U.S. Vice President Kamala Harris in Washington, the government said.

Siemens Energy Shares Hit Record Low as Wind Turbine Problems Mount

Results at Siemens Gamesa, which in January issued its third profit warning in nine months, mask a solid performance at Siemens Energy’s business focused on coal- and gas-fired power stations and turbines.

Energy A&D Transactions from the Week of May 11, 2022

Here’s a snapshot of recent energy deals including the closing of PDC Energy’s $1.3 billion acquisition of private D-J Basin operator Great Western Petroleum plus the formation of a $1.1 billion renewable natural gas joint venture.

On the Market Oil and Gas Quicklist (Week of May 11, 2022)

Here’s a quicklist of oil and gas assets on the market including Gulf of Mexico package consisting of ORRI in 266 wells offshore Louisiana plus BlackBriar Royalty Austin Chalk and Eagle Ford properties.

Alberta Court Rules Canada’s Environmental Impact Law Unconstitutional

The Alberta Court of Appeal said the Impact Assessment Act (IAA), which assesses how major infrastructure projects in Canada like pipelines impact the environment, was a “classic example of legislative creep.”

Marketed: Nonop Wellbore WI Opportunity in Williston Basin

A private seller retained Eagle River Energy Advisors LLC for the sale of certain wellbore only, nonoperated working interests spread across four core counties in the heart of the Williston Basin in North Dakota.

Norway to Ramp Up Offshore Wind in Drive to Go Green

A wide range of utilities, oil and gas firms and engineering companies have lined up to develop offshore power projects in Norway, including Equinor, Shell, BP, Ørsted and Eni.

A&D Watch: Utah’s—Yes, Utah—M&A Spree

While it’s inevitable that another basin snatches a ray of limelight from the Permian Basin from time to time, probably no one expected a rare run on Utah’s Uinta Basin, where M&A has suddenly been heating up.

Project Canary Adds Former Enverus COO Tanya Hendricks as Chief Commercial Officer

Tanya Hendricks was appointed chief commercial officer of Project Canary to implement strategic growth strategies, including driving accountable, measurement-based ESG reporting on a global scale.

EIA: US Natgas Output, Demand to Rise in 2022

The agency said U.S. LNG exports would reach 11.99 bcfd in 2022 and 12.63 bcfd in 2023.

Canada's Suncor Says Operations Improving, Will Talk with Activist Firm

Suncor CEO Mark Little said the company looked forward to engaging in constructive discussions with activist investor firm Elliott.

Russian Gas Flows to Europe Via Ukraine Fall after Kyiv Shuts Route

The transit point Ukraine shut usually handles about 8% of Russian gas flows to Europe.

US Oil Pipeline Operators Gear Up for Higher Shale Output

Analysts predict that operators could reach pre-pandemic crude oil production outputs by October 2022, with Permian Basin production expected to rise 5.7 MMbbl/d next year.

Occidental Petroleum Profit Tops Estimates Despite Lower Output

Occidental’s plan to produce oil while it develops technology to tap carbon emissions from fossil fuels gained a renewed vote of confidence after Warren Buffett’s Berkshire Hathaway raised its stake in the company to about 15.2%.

Oil and Gas M&A Threaten Emission Reduction Efforts

A new Environmental Defense Fund study shows that oil companies diversifying their assets to look greener are often just selling them to operators under less scrutiny.