Exploration & Production
Darbonne: The Geologic, the Man-made and the Political of Uinta Basin Outcrops
The oily western Uinta features layers of sedimentary deposits on view for visitors, mostly uninterrupted by man-made features but having an unseen pall of federal interference.
Deepwater, Transactions, Field Development
APA, TotalEnergies Aim for ‘New Dawn’ in Suriname with Massive GranMorgu Project
APA Corp. and TotalEnergies announced a $10.5 billion final investment decision for the GranMorgu project located offshore Suriname in Block 58. First production to come from a 220,000 bbl/d FPSO is slated to flow in 2028.
Acquisitions & Divestitures, Natural Gas, Service & Supply, Pipelines
Enbridge Closes $3.1B Deal for Public Service Co. of North Carolina
With the deal’s closing, Enbridge said the company is, by volume, the largest gas utility in North America, delivering 9 Bcf/d of natural gas to a base of about 7 million customers.
Restructurings, Transactions
TC Energy Completes Spinoff of Liquids Pipeline Business South Bow
South Bow Corp. will commence trading on the Toronto Stock Exchange on Oct. 2.
Crude Oil, International
Oil Prices Jump 4% on Reports of Iran Preparing to Attack Israel
An Israeli attack on Iranian oil production or export facilities could cause a material disruption, potentially more than a 1 MMbbl/d.
Policy & Regulations, Midstream, Liquefied Natural Gas (LNG)
Venture Global Taking Adequate Steps in Calcasieu Pass Construction, FERC Says
The Calcasieu Pass LNG plant’s foundational customers have turned to legal auction due to the plant’s long commissioning time.
Joint Ventures, Exploration & Production
ADNOC Drilling, SLB and Patterson-UTI Form JV Turnwell Industries in UAE
Their joint venture Turnwell Industries LLC has been contracted to drill an initial 144 wells in the United Arab Emirates, scheduled for completion by the end of 2025.
Solar, Investment
GoldenPeaks, CNBM Target 1 GW of Solar Projects in Europe
GoldenPeaks Capital Holding and China National Building Material Group are pursuing solar projects in places such as Germany, Italy and Greece.
Shale Plays, Acquisitions & Divestitures, Exploration & Production
Dorchester Minerals Closes M&A in Midland, Delaware, D-J
Limited partnership Dorchester Minerals closed two transactions in the Permian Basin and in Colorado’s Denver-Julesburg (D-J) Basin.
Exploration & Production, Business, Joint Ventures
APA Corp., TotalEnergies Announce $10.5B FID on ‘Goliath’ Sized Deal Offshore Suriname
APA and TotalEnergies’ offshore Suriname GranMorgu development is estimated to hold recoverable reserves of more than 750 million barrels.
Pipelines, Gathering & Processing, Shale Plays, Natural Gas, Crude Oil, Liquefied Natural Gas (LNG), Acquisitions & Divestitures, Policy & Regulations
Energy Transfer Leads the Midstream Consolidation Flow
Energy Transfer co-CEOs discuss pipeline pain points, needed M&A, regulatory woes and much more in this Midstream Business exclusive.
Unconventional, Shelf, Field Development, Deepwater, Digital Oilfield, Subsea
E&P Highlights: Sept. 30, 2024
Here’s a roundup of the latest E&P headlines, including concessions awarded in the Middle East and updates following Hurricane Helene.
Investment, Governance, Emissions, Gastech
No Shortage of Capital, Shortage of Investable Low-carbon Projects
Investors are looking to the bankability equation—sustainability plus guaranteed returns—and finding that the energy transition’s problem is not a shortage of capital, but a shortage of investable projects.
Pipelines, Policy & Regulations, Midstream
FERC Sides with Williams Over Energy Transfer in Pipeline Dispute
The Federal Energy Regulatory Commission has declared that Williams’ disputed Louisiana Energy Gateway project is a gathering network, not a transport line.
Wind, Lease Sales
US Postpones Planned Wind Auction Offshore Oregon
BOEM said it received bidding interest from only one of the five companies that qualified to participate in the Oct. 15 lease auction.
CCS/CCUS, Policy & Regulations, Investment
DOE to Offer Up to $1.3B to Advance CCUS Technologies
The Office of Clean Energy Demonstrations said it anticipates the funding solicitation will be released in late 2024.
SPE ATCE, New Energies, Artificial Intelligence
AI—Just One More Ball for Energy Sector to Juggle
AI is yet another challenge for the energy sector to juggle, but if used carefully, could be transformative for the industry, experts discussed during ATCE 2024.
Natural Gas
Warmer-than-average US Temps to Pressure Gas Demand Side
Higher U.S. temperatures are expected to pressure gas demand for gas-fired electricity, according to a report from Rystad Energy.
Field Development, Deepwater
CNOOC Brings Online Phase 2 of Natgas Project in South China Sea
CNOOC’s Shenhai-1Natural Gas Development Project is expected to reach peak production in 2025.
Acquisitions & Divestitures, Shale Plays
Devon Energy Completes Grayson Mill Acquisition
Devon Energy Corp. completed its $5 billion acquisition of Grayson Mill Energy, expanding its Williston Basin operating scale and production.
Liquefied Natural Gas (LNG)
New Fortress Ships Mexico’s First LNG Cargo for Export
U.S. energy infrastructure company New Fortress Energy on Sept. 30 shipped the first export of LNG from Mexico, following the inauguration of output at its floating facility off the country’s coast, the company said.
Crude Oil, International
What’s Affecting Oil Prices This Week? (Sept. 30, 2024)
Based on Stratas Advisors’ demand forecast, there is room for Saudi Arabia to increase supply gradually and not collapse oil prices — if there is no dramatic increase in non-OPEC supply and the other members of OPEC+ do not grossly exceed their quotas.
Solar
TotalEnergies Cranks Up 1.2-GW Solar Farms in Texas
TotalEnergies’ Danish Fields and Cottonwood solar farms are part of a portfolio of 4 GW of renewable energy assets the Paris-based company is operating or constructing in Texas.
Acquisitions & Divestitures, Transactions, Policy & Regulations, Shale Plays
FTC Oks Chevron-Hess Deal, Bans John Hess from Board
Federal regulators signed off on a blockbuster tie-up between Chevron and Hess Corp. but banned CEO John Hess from sitting on the Chevron board.
Liquefied Natural Gas (LNG), Policy & Regulations, Natural Gas, Hart Energy Exclusive, Gastech
Exclusive: Kimmeridge’s Dell on Advancing Commonwealth LNG Amid DOE Pause
Kimmeridge’s Co-founder and Managing Partner Ben Dell details how Commonwealth LNG came to be and the future of the project as the company is optimistic on an FID in the first half of 2025, in this Hart Energy Exclusive interview.
Acquisitions & Divestitures
Elliott-backed Amber Energy Picked to Buy Citgo Petroleum for $7.3B
Amber Energy, led by industry veterans Gregory Goff and Jeff Stevens, was selected by a court-appointed special master to buy Citgo Petroleum, which is held by a Venezuelan company, for $7.286 billion.
Dividends/Buybacks
Dividends Declared Sept.16 through Sept. 26
Here is a compilation of dividends declared from select upstream, midstream and service and supply companies.
Storage, Natural Gas
Gulf Coast Midstream Sets Open Season for Natgas Storage Facility
Gulf Coast Midstream Partners, which aims to build the first salt cavern natural gas facility in the Houston area since 2008, will launch a non-binding open season on Oct. 1.
Energy Storage, Lithium, Biofuels, RNG, Hydrogen, Wind, Solar, Renewables
Energy Transition in Motion (Week of Sept. 27, 2024)
Here is a look at some of this week’s renewable energy news, including a commitment of more than $116 billion annually in renewables and grids.
CCS/CCUS, Carbon Management
Johnson Matthey: Syngas Offers Path to Low-carbon Fuels, Hydrogen
With syngas, chemical makers like Johnson Matthey have hit a sweet spot in producing no- and low-carbon ammonia, hydrogen or sustainable aviation fuel.