Exports of LNG from the U.S. will slow as domestic gas demand there grows and available supply there is used up, said ConocoPhillips (NYSE: COP) CEO Ryan Lance at a gas industry conference on April 4 in Chiba, Japan.
"By the mid-2020s, the existing brownfield supply expansion options will be exhausted, both in the U.S. and other countries. New greenfield projects will be needed," Lance said.
"To justify those investments, higher energy prices will be required," he said.
As supplies grow tighter, he added, the industry will also need to return to longer-term contracts that provide security of supply for end users and security of demand for suppliers.
Marketed: Discovery Oil LLC 18 Well Package
2023-03-21 - Discovery Oil LLC has retained EnergyNet for the sale of an 18 well package, non-operated WI and ORRI, in Richland County, Montana and Dunn, McKenzie, and Williams Counties, North Dakota.
Marketed: Jura Energy South Texas Operated Sale Package
2023-03-21 - Jura Energy has retained Energy Advisors Group for the sale of South Texas operated assets in Duval, Jackson, and Victoria Counties.
Equinor Raises Ownership Stake in Renewables Firm Scatec
2023-03-16 - Following the transaction, Equinor now owns about 25.7 million shares of shares of Scatec, raising its total shareholding to 16.2%.
Principal Solar to Acquire Navarro Formation Wells, Pipeline
2023-03-15 - Principal Solar said it has executed a letter of intent to acquire controlling working interest and that a 2022 reserve report set the assets’ oil reserves value at approximately $116 million.
Energy A&D Transactions from the Week of Jan. 4, 2023
2023-01-04 - Here’s a snapshot of recent energy deals including Marathon's $3 billion Eagle Ford acquisition and Targa Resources Corp. deal to buy the remaining stake in the Grand Prix NGL Pipeline.