Oil and Gas Investor September 2023 cover featuring Southwestern CEO Bill Way

Oil and Gas Investor Magazine - September 2023

CEO Bill Way has shifted Southwestern Energy's course from Fayetteville founder to dual-basin natural gas powerhouse. Now, the E&P aims to be the LNG sector's top supplier.

The market for both jackups and floaters is in a global resurgence with day rates and utilization continuing to climb.

The operator is working with Amazon Web Services on its digital transformation, seeking to reduce capex and gain access to software-defined technology.

SLB, Baker Hughes and Halliburton reap the benefits of offshore and non-U.S. operations.

The French company has committed to expanding its LNG business and its growing U.S. position is key to that strategy.

Cover Story

Southwestern’s New Directions

CEO Bill Way has shifted Southwestern Energy’s course from Fayetteville founder to dual-basin natural gas powerhouse. Now the LNG sector’s top supplier aims to establish itself as the leading natural gas company in the U.S. with decades of inventory in the Haynesville Shale and Appalachian Basin.


(Jack) Up, Up and Away!

The market for both jackups and floaters is in a global resurgence with day rates and utilization continuing to climb.

Occidental Petroleum Gears Up for Digital Transformation

The operator is working with Amazon Web Services to migrate to the cloud in order to reduce capex and gain access to software-defined technology.

Robust International Results Lift Oilfield Service Companies

Oilfield service companies SLB, Baker Hughes and Halliburton report solid second quarter results from international operations.

TotalEnergies’ CEO Patrick Pouyanné Says US Key to LNG Strategy

TotalEnergies SE’s (NYSE: TTE) CEO Patrick Pouyanné said the French company was committed to growing its LNG business and its growing U.S. position, part of the second wave of U.S. LNG projects, is key to that strategy.

A&D Watch

Diamondback Eyes Further Sales After Exceeding $1B Divestiture Target

Permian Basin pure-play Diamondback Energy monetized more midstream assets in the second quarter—part of a broader $1 billion divestiture plan to shed non-core assets that don’t compete for capital and reduce debt.

Earthstone Shops Eagle Ford Assets as E&P Eyes South Texas Exit

Earthstone Energy is marketing PDP and undeveloped locations in the Eagle Ford as the E&P streamlines its focus on the Permian Basin.

In Midland, Endeavor Is ‘The Clear Belle of the M&A Ball’

Who might be the winning buyer and what’s in the asset package? J.P. Morgan Securities analyst Arun Jayaram takes a deep dive.

SilverBow May Hunt for More Eagle Ford Scale After $700MM Deal

SilverBow Resources could look for additional scale in the Eagle Ford through M&A after buying Chesapeake Energy’s South Texas assets—its eighth deal in the play, analysts say.


Back-to-School Trends in Midstream

As various areas of the U.S. return to school, here's a recap of what's been going on in the publicly traded stock side of the midstream space.

Biden Faces Energy, Climate Headwinds

ESG is an oft debated topic in both Congress and Republican-controlled state capitals, but a political backlash against topics like ESG, climate change and sustainability is underway.

Column: High Court’s Water Ruling Provides Clarity … or Not

Murkiness remains for projects involving water, despite clarity from Supreme Court on the limits of EPA’s power.

It’s ‘On:’ The New Ohio Utica Oil Play

The oil-weighted hydrocarbon phase through the middle of the Utica fairway in Ohio is gaining renewed attention—and results.

Paisie: Oil Demand to Eclipse Supply

John Paisie of Stratas Advisors suggests that oil demand will overtake supply during Q3 and Q4, but at the same time, the market will remain concerned about challenges facing the U.S., China and the EU. 

Venezuela’s Burning Through Gas and Cash

Home to the world’s seventh-largest natural gas reserves, the OPEC member has a massive flaring problem which, if resolved, could allow it to monetize its onshore associated gas production.

Warren Buffett is Buying LNG—What Does it Mean?

Berkshire Hathaway's purchase of an additional 50% stake in the Cove Point LNG facility has some wondering about owner Warren Buffett's commitment to the LNG space. 

Energy Transition

CEO Darren Woods: Exxon Mobil Can Produce Lithium at ‘Much Lower Cost’

Exxon Mobil is investing $17 billion in low-carbon businesses like carbon capture, hydrogen and biofuels. But the U.S. supermajor is also considering lithium production, CEO Darren Woods told analysts.

Linde Sees Opportunity as E&Ps Enter Hydrogen Game

With more than 1,000 km of hydrogen pipeline in place and nearly 200 hydrogen refueling stations globally, Linde CEO says the company can scale up, even as big oil companies begin to enter the market.

Occidental, Battelle-led DAC Projects Land Up To $1.2 Billion in Funding From US

The demonstration projects aim to kickstart and advance development of the nation’s first two commercial-scale DAC facilities.

Offshore Wind Developer Ørsted Eyes Challenges, Remains Optimistic

Offshore wind developers including Ørsted have faced supply chain issues, inflationary pressure and rising cost of capital as they work to scale the global offshore market.

Finance & Investment

Are Non-Ops the New Alternative Financing for M&A?

Earthstone Energy CEO Robert Anderson talks about teaming up with non-op Northern Oil & Gas to buy Permian Basin operator Novo Oil & Gas—a deal he expects to close next week.

Exclusive Q&A: NOG’s Non-Op M&A Strategy ‘Will Keep Us Very Busy,’ CEO Says

Northern Oil & Gas landed some of its biggest transactions to date in recent months, including several in the Permian Basin. In a Hart Energy exclusive interview, NOG CEO Nick O’Grady and President Adam Dirlam said they see a long runway for the E&P’s non-operated M&A strategy.

S&P 500: Energy Sector Shows Resilience Despite Rough First Half

The energy sector led the S&P in 2022, but macroeconomic factors have weighed down its performance this year.

From the Editor-in-Chief

Do Western ESG Standards, Clean Energy Aspirations Prop Up OPEC?

U.S. lawmakers resurrect NOPEC legislation with anti-fossil fuel context, inserting convoluted nuance into challenging geopolitics and complex industry dynamics.

Global Energy

Barred Machado Eyes Venezuela Energy Sector Privatization, Debt Restructuring

Venezuela’s leading opposition candidate María Corina Machado plans to privatize the upstream and downstream sectors and restructure the Caribbean country’s debt if elected president in 2024. Her main obstacle: she’s barred from holding public office.

Boston Group: Net Zero Investments Short by $18 Trillion

A Boston Consulting Group study reveals an $18 trillion energy transition investment gap between now and 2030, which threatens meeting net zero goals by 2050.

Could US LNG be ‘Stuck at Sea?’

U.S. LNG exporters could see cargos backing up as European storage levels near capacity and as Asian gas demand lags, with approximately 35 LNG ships sitting on the water for more than 20 or 30 days, according to a Bernstein report.

Venezuela Flares More Gas than Freeport LNG Exports

OPEC’s Venezuela continues to flare over half its natural gas production and burn off more than the output from Houston-based Freeport LNG’s three-train, 15-mtpa export facility, which is about 2.2 Bcf/d, and then some.


Matador Resources Expanding Delaware Basin Midstream Capacity

Matador Resources plans to boost its natural gas processing capacity in the Permian Basin to serve third-party demand and the E&P’s own development plans.

Plains All American Pipeline to Seek More Bolt-ons After Permian A&D

Plains All American Pipeline increased its EBITDA guidance on strong earnings and emphasized an A&D strategy underpinned by fiscal discipline.


Clear as Mud: Tech Enables Reuse of Drilling Mud

R3 Environmental Systems’ process recovers drilling fluid and water from waste generated during drilling operations for use as a direct substitute for virgin drilling fluid in new drilling mud products. 

Exclusive: Blending Digital Innovation, Teamwork [WATCH]

In this Hart Energy Exclusive Interview, Jennifer Pallanich talks with Baker Hughes' executive director of digital well construction business Matthias Gatzen and Corva's COO Courtney Diezi about their companies' recent collaboration to solve problems and innovate.

The Energy Industry’s Prize Fish

Saipem’s award-winning AUV, the FlatFish, builds on previous accomplishments with its past underwater vehicles—Hydrone-R and Hydrone-W.