United States

In Service: Appalachian E&Ps Banking on MVP for Bigger Returns

Appalachian Basin E&Ps are expected to ramp up production for the Equitrans-operated Mountain Valley Pipeline by 2025 — although, near term, only about 38% of the line’s capacity is expected to be used, an analyst said.

June 14, 2024

Energy Transition in Motion (Week of June 14, 2024)

Here is a look at some of this week’s renewable energy news, including a move by tech powerhouse Google to procure more geothermal energy.

June 14, 2024

US Drillers Cut Oil, Gas Rig Count to Lowest Since January 2022

Baker Hughes said the total rig count is down 97 rigs, or 14%, below this time last year.

June 14, 2024

Texas Pacific Land Declares Largest Special Dividend

Texas Pacific Land’s $10 per share dividend will cost the company approximately $230 million.

June 14, 2024

Phillips 66 to Sell Interests in Rockies Express Pipeline to Tallgrass

Phillips 66’s sale to Tallgrass will generate $685 million in proceeds following debt and equity adjustments.

June 14, 2024

Study: Time Running Out for FID on Next Permian NatGas Pipeline

To meet natural gas takeaway demand by 2026, a final investment decision on a new Permian Basin pipeline will be needed before the end of the year, according to Enverus analysis.

June 14, 2024

Producers Trim 2024 Hedges Amid Bullish Oil Prices, M&A

Meanwhile, gas-weighted players are benefitting from solid hedge books planned ahead of price uncertainty.

June 14, 2024

Sea Power: Noble’s Deal Fires Major Volley in Offshore, Services M&A

Noble Corp.’s $1.6 billion acquisition of Diamond Offshore Drilling may seem like small potatoes compared to the upstream sectors’ massive megadeals, but service sector consolidation could snowball, analysts said.

June 14, 2024

US Producers to Contribute to 2030 Oil Supply Surplus

Higher world oil production, led by U.S. and other producers in the Americas, will outpace demand between 2023-2030 and inflate the world’s spare capacity cushion, according to the IEA.

June 13, 2024

Arizona Regulators OK Gas Power Plant Expansion, Bypassing Environmental Rule

Critics claim the vote sets a precedent for more unsupervised development of gas-fired generation.

June 13, 2024