Latest From Hart Energy
Cemvita Rolls Out Biotech to Boost Sustainable Oil Production
As part of Cemvita’s “groundbreaking” microbial waste-to-oil process, the company unlocked new technologies that allow production of up to 500 bbl/d of sustainable oil from crude glycerin at its Houston commercial plant.
Woodside to Emerge as Global LNG Powerhouse After Tellurian Deal
Woodside Energy's acquisition of Tellurian Inc., which struggled to push forward Driftwood LNG, could propel the company into a global liquefaction powerhouse and the sixth biggest public player in the world.
Report: TC Energy Close to Selling $726MM Pipeline Stake to Indigenous Groups
The Canadian government has given preliminary approval for a loan to indigenous groups to buy a stake in TC Energy’s NGTL pipeline system.
US Using More, Storing Less NatGas in Summer 2024—EIA
Gas storage levels remain high, thanks to record production levels in 2023 and a warmer-than-typical winter.
Crackin’ It at Kraken: Inside the Bakken’s Ramped-up Private E&P
Kayne Anderson-backed Kraken Resources is producing more than 80,000 boe/d today and has a new Fitch Ratings credit score to take to the M&A bank.
Texas LNG, EQT Sign a 2-mtpa LNG Tolling Agreement
EQT will supply natural gas to Texas LNG, a 4- million tonnes per annum LNG export terminal planned for the Port of Brownsville, Texas.
Alaska Approves Plan to Build $56.6MM Pipeline for LNG Imports
Natural gas utility Alaska Pipeline Co., an affiliate of Enstar Natural Gas, received approval from the state to build the 16-mile pipeline, which will be connected to a terminal at Port Mackenzie, near Anchorage.
US Oil Stockpiles Fall Across the Board on Higher Exports, Demand, EIA Says
Some of the stock drawdowns could be attributed to normalizing operations following Hurricane Beryl's rampage of the Texas coast.
SLB Collaborates with Aker BP on AI-driven Digital Platform
SLB and Aker BP’s partnership will build a digital platform that will benefit Aker BP’s subsurface workflows to lower costs, shorten planning cycles and increase crude production.
Clean Energy Begins RNG Project at Texas Dairy Farm
Clean Energy Fuels said it has broken ground on an $85 million RNG facility in Dimmitt, Texas, that the company said would become one of the biggest RNG production facilities in the U.S.
Safeguarding the Trend of Accelerating CCUS Adoption
Policy pushes meet industry pull, positioning CCUS for takeoff.
Permian Prowl: Exploratory Drilling, Permitting Up for Permian Barnett Wells
In the never-ending hunt for Permian drilling locations, a growing number of operators are testing wells in less-developed formations and the basin’s extensional fringes.
Bipartisan Bill Aims to Speed Up Permitting Bureaucracy
If passed, the new rules would tackle litigation delays for energy projects across all sectors, an analyst says.
EQT Marketing Rest of Marcellus Non-op Assets After Equitrans Close
EQT Corp. is marketing the remaining 60% interest in its non-operated Northern Marcellus assets as the Appalachia gas giant works to reduce debt following its $5.45 billion acquisition of Equitrans Midstream.
Freeport LNG’s Slow Restart Stokes Concern Over Supply Risk
The 15-mtpa Freeport LNG facility remains under the spotlight of the global market as it slowly resumes operations after pausing ahead of Hurricane Beryl’s arrival along the U.S. Gulf Coast.
Air Liquide Closes African Divestitures to Adenia Partners
Air Liquide’s transaction with Adenia Partners represents total annual sales of approximately 60 million euros (US$65.12 million), less than 10% of Air Liquide’s sales in Africa.
Pitts: Oh, What a Tangled Web the Supermajors Weave
Exxon and Chevron and Guyana and Venezuela—‘Let’s Make A Deal’ meets ‘Love, South American Style.’
Chevron to Divest 20% Interest Offshore Suriname to QatarEnergy
Chevron Corp. will divest a 20% interest to QatarEnergy in a production sharing contract related to Suriname offshore Block 5.
KKR in Exclusive Talks to Buy Eni's Biofuel Unit for Up to $13.6B
KKR enters exclusive talks to buy stake in Eni's biofuel unit although the Italian energy producer said the global investment firm was not the only potential buyer.
Archrock Offers Common Stock to Help Pay for TOPS Transaction
Archrock, which agreed to buy Total Operations and Production Services (TOPS) in a cash-and-stock transaction, said it will offer 11 million shares of its common stock at $21 per share.
Private Equity Firms Buy Pipe-coating Company MCIP
Milestone Capital and D2 Equity Capital acquired purchased a majority interest in family-owned pipe-coating business MCIP.
CNOOC Encounters High Yield Well in Beibu Gulf
CNOOC’s well was tested to produce over 1,000 cu. m/d of oil equivalent, making it the first well of such productivity in the Wushi Sag area.
Permian Basin Coalition Highlights Philanthropic Investments
Since 2019, the Permian Strategic Partnership has doubled its membership and used philanthropic investments to generate more than $1.5 billion in community support and collaborative investment.
An Oil Boom? ‘What Boom?’
Frustrations were clear among oilfield and investment Redditors in response to an article that suggested the oil industry is booming. Here’s what happened—expletives deleted, emojis and all.
E-wireline: NexTier Taps Oilfield Grid, Automation for Completions
NexTier Completion Solutions is using advanced electric-drive equipment, automation-enabled pump down technology and digital connectivity to optimize wellsite operations during shale completions.
Zachry Proposes Settlement Agreement to End Golden Pass LNG Standoff
Zachry, an engineering contractor for the Golden Pass LNG project, submitted a settlement agreement in bankruptcy court that would allow Exxon Mobil and QatarEnergy to move forward with the delayed project.
Marketed: Berlin Resources’ Anadarko Basin Opportunity
Berlin Resources has retained EnergyNet for the sale of an Anadarko Basin opportunity in the Montgomery 18/19 BO #1H, located in Ellis County, Oklahoma.
Unconventional, Field Development, Discoveries, Artificial Intelligence, Digital Oilfield, Machine Learning, Subsea, Deepwater
E&P Highlights: July 22, 2024
Here's a roundup of the latest E&P headlines, with LLOG acquiring 41 blocks in the Gulf of Mexico and Saipem securing $500 million in contracts from Saudi Aramco.
Archrock to Buy NatGas Compression Firm TOPS for $983MM
The acquisition of Total Operations and Production Services will increase Archrock's compression capacity by 30% to nearly 2.2 million operating horsepower.
NatGas Purgatory: US Gas Spot Prices Hit Record Lows in 1H24—EIA
Facing record-low commodity prices, U.S. dry gas producers have curtailed production and deferred new completions in the first half of 2024.