Latest From Hart Energy

bp, Hertz Collaborate to Accelerate EV Charging in North America

bp is growing its electric vehicle business, bp pulse, within the North American continent through a memorandum of understanding with rental company Hertz.

AI, Biosurfactants Help Drain Oil Reservoirs

Two companies have developed new ESG-friendly EOR methods to help operators produce more barrels.

Santos Gets $1.1 Billion Offer for 5% Stake in PNG LNG from State-owned Kumul

Papua New Guinea has been seeking more control over its oil, gas and mineral resources since electing Prime Minister James Marape in 2019.

Mystery Gas Leaks Hit Major Russian Undersea Pipelines to Europe

Sweden’s Maritime Authority issued a warning about two leaks in the Nord Stream 1 pipeline, shortly after a leak on the nearby Nord Stream 2 pipeline was discovered that had prompted Denmark to restrict shipping.

Special Report: All Eyes on Natural Gas Investment

Strong demand and environmental awareness draw capital to natural gas in the upstream and midstream sectors.

BP, Chevron Cut Offshore Oil Production Ahead of Hurricane Ian

Occidental Petroleum and Hess said they were implementing measures for facilities in the Gulf of Mexico. Murphy Oil and Equinor said they did not anticipate any impact to their operations, while Shell said it was closely monitoring the storm’s track.

Gas from Russia’s Nord Stream 2 Pipeline Leaks into Baltic Sea

European countries have resisted Russian calls to allow the Nord Stream 2 pipeline to operate and accused Moscow of using energy as a weapon. Russia denies doing so and blames the West for gas shortages.

Hedge Funds Dashed to Exit Energy Positions Last Week, Data Shows

It could be a sign that hedge funds, which often discover trading ideas from market trends, are finding it too tough to bring in the kind of paydays they received from the surge in oil prices earlier this year.

Riverstone-backed Montney Shale Producer Plans US Listing in SPAC Deal

The transaction, which values Hammerhead Resources at CA$1.39 billion, is expected to form a publicly traded upstream oil and gas company with a path toward achieving net-zero emissions on a Scope 1 and Scope 2 basis by 2030.

Reliability Offshore at Forefront of Interior’s Well Control Rules

While the new well control rules proposed by the Interior’s Bureau of Safety and Environmental Enforcement (BSEE) have a focus on offshore equipment reliability, some in the oil and gas industry deem the changes unneeded and pricey.

E&P Highlights: Sept. 26, 2022

Here’s a roundup of the latest E&P headlines, including a project approval off Equatorial Guinea and product announcements from the past week in the upstream oil and gas industry.

Chevron to Collaborate on Advanced Geothermal Technology Project in Japan

Chevron New Energies and Mitsui Oil Exploration have a preestablished working relationship, strengthened by its latest joint collaboration agreement to expand Japan's geothermal capabilities.

Dutch Limit Groningen Gas Production Despite Energy Crisis

The Groningen Field, operated by a joint venture of Shell and Exxon Mobil, still holds massive reserves of natural gas.

France Reaffirms It Will Halt Fossil Fuel Export Guarantees

After a U.N. climate summit in Glasgow last year, President Emmanuel Macron’s government signed up to a commitment to end public financing of unabated oil, gas and coal from 2023.

Shell Pulls Out of Two Irish Offshore Wind Projects

Shell and Simply Blue said in a joint statement on Sept. 24 that Shell’s withdrawal from the Western Star and Emerald projects was a “portfolio decision,” and Shell added that offshore wind remains a key growth area.

What’s Affecting Oil Prices This Week? (Sept. 26, 2022)

With the slowdown in economic activity, the growth in oil demand is waning and there is more downside risk than upside risk, according to Stratas Advisors in the firm’s latest oil price forecast.

Norway Oil Safety Regulator Warns of Threats from Unidentified Drones

"We would urge increased vigilance, a review of emergency preparedness measures and incident response and information sharing," Norway's Petroleum Safety Authority warned in a letter to operators about unidentified drones flying over Norwegian oil and gas platforms.

QatarEnergy Signs Deal with TotalEnergies for North Field South Expansion

TotalEnergies CEO Patrick Pouyanne met with QatarEnergy CEO Saad al-Kaabi to sign a deal for the North Field South.

Exxon Halts Activity at Texas Oilfield Site Following Worker Fatality

An employee of Axis Energy Services was killed in an accident at Exxon Mobil's East Texas oil drilling facility on Sept. 20.

Tellurian Says Driftwood LNG Deals with Shell, Vitol Scrapped

Tellurian announced the canceled deals a few days after withdrawing a $1 billion high-yield bond sale that would have funded the initial construction of its proposed multibillion-dollar Driftwood LNG plants in Louisiana.

Energy Crunch Threatens to Shatter European Unity

The energy crisis in Europe will last well into 2023 given stagnant global supply and the likelihood of increased competition for LNG, which Fatih Birol, the head of the International Energy Agency, warns could unleash a “wild west scenario.”

Momentum Midstream Establishes Leading Haynesville Presence with Latest Acquisitions

The acquisition of Midcoast’s East Texas business and Align Midstream was announced by Momentum Midstream alongside a new natural gas gathering and carbon capture project in the Haynesville Shale.

‘Heavy Lifting’ Needed to Overcome Permitting Bill Opposition, Manchin Says

U.S. Senator Joe Manchin said it will take “an awful lot of heavy lifting” over the next two or three days to overcome opposition by “strange bedfellows” ranging from progressive Senator Bernie Sanders to Senate Minority Leader Mitch McConnell.

US Outlines Roadmap to Boost Sustainable Aviation Fuel

The Biden administration wants SAF to achieve a minimum of a 50% reduction in greenhouse-gas emissions compared to conventional fuel and seeks to expand supply, use, reduce its cost and enhance its sustainability.

California Takes Step Away from Natural Gas to Heat Buildings

California has been at the forefront of efforts to phase out the use of natural gas in buildings. Since 2019, more than two dozen cities have passed measures to reduce the use of gas in buildings.

Marketed: Continental Resources North STACK 200-well Package

Continental Resources Inc. retained EnergyNet for the sale of a 200-well package of conventional and unconventional assets in Oklahoma’s STACK play within the prolific Anadarko Basin.

Summit Divests Williston Basin Gas Gathering System for $40 Million

Following the sale of the Bison gas gathering system to Steel Reef for $40 million in cash, Summit Midstream Partners’ focus in the Williston Basin will be on growing its crude oil and produced water gathering systems, CEO Heath Deneke said.

Trinidad Urgently Needs Fiscal Reforms to Encourage Oil Investments

Energy Chamber of Trinidad and Tobago head Thackwray “Dax” Driver says there’s a need to change the Caribbean island’s taxation structure to encourage continued investments.

Dorchester Minerals Announces Leadership Transitions, New Appointment

Effective Oct. 1, Dorchester Minerals CEO William Casey McManemin will step down, allowing for the succession of COO Bradley J. Ehrman.

Hess Creditors Seek Dismissal of Virgin Islands Bankruptcy

Hess subsidiary HONX filed for Chapter 11 protection in Houston on April 29, saying it intended to take advantage of the “breathing spell” of a bankruptcy case to reach a fair and efficient resolution of asbestos claims against Hess.