Field Development, Reservoir Evaluation, Artificial Intelligence
EY: How AI Can Transform Subsurface Operations
The inherent complexity of subsurface data and the need to make swift decisions demands a tailored approach.
Crude Oil, International, Pipelines
Oil Prices Jump 4% on US Storm, Israel-Iran Fears
Oil prices jumped about 4% on Oct. 10 on a spike in U.S. fuel use before Hurricane Milton barreled across Florida, Middle East supply risks and signs that demand for energy could grow in the U.S. and China.
Service & Supply, Earnings, Exploration & Production
Atlas Commissions 42-mile Dune Express Conveyor, Lowers 3Q Guidance
Atlas Energy Solutions said its Dune Express proppant conveyor remains on time and on budget, but the company expects lower revenue and EBITDA for the third quarter.
Service & Supply, Service Contracts
Baker Hughes Lands Company’s Largest Compressor Line Order
Baker Hughes’ project includes 10 integrated compressor line units that will be installed at the Margham Gas storage facility in Dubai, United Arab Emirates.
Private Equity, Public Capital, Finance, Investment, Conventional, Unconventional, Trends
Quantum’s VanLoh: New ‘Wave’ of Private Equity Investment Unlikely
Private equity titan Wil VanLoh, founder of Quantum Capital Group, shares his perspective on the dearth of oil and gas exploration, family office and private equity funding limitations and where M&A is headed next.
Acquisitions & Divestitures, CCS/CCUS
Exxon Adds 270,000 Acres for Largest Carbon Storage Site in the US
Exxon Mobil has leased acreage on the Gulf Coast from the Texas General Land Office for carbon capture and storage.
Infrastructure, Construction, Liquefied Natural Gas (LNG), Natural Gas
LNG Sector Under Fire as Activists’ Lawsuits Surge
ESG litigation is increasingly affecting the LNG industry while, more broadly, nearly 70% of climate-related cases are filed in the U.S.
Natural Gas liquids (NGL), Natural Gas, Acquisitions & Divestitures, Shale Plays
APA Curtails Natgas, NGL Output Amid Low Waha Prices
Apache parent APA Corp. curtailed more natural gas and NGL output than previously anticipated as it realized just $0.15/Mcf in the U.S.
Acquisitions & Divestitures, Trends, Mergers, Shale Plays
After M&A, Some ‘Stingy’ E&Ps Plan to Hold Operated Shale Inventory
After a whirlwind run of upstream consolidation, experts anticipated a wave of portfolio rationalization and divestitures. But with high-quality drilling locations already scarce, E&Ps may cling to operated inventory.
Finance, Investment, ESG, Energy Capital Conference
CEO: Breakwall Providing Capital as RBLs ‘Materially’ Decrease
Breakwall Capital is stepping in to bridge the gap from the historic days of reserve-based lending, Breakwall Managing Partner and co-CEO Jamie Brodsky said at Hart Energy’s Energy Capital Conference in Dallas.
Shale Plays, Policy & Regulations, Exploration & Production, Crude Oil, Natural Gas
Election-proof? Shale Likely Unaffected by Presidential Outcome
Under a Trump or Harris administration, shale producer’s focus on shareholder returns and market forces will likely influence E&Ps more than politics, Rystad Energy analysts say.
Artificial Intelligence, Machine Learning, Midstream, Emissions
Enbridge Embraces AI to Advance Operations with Microsoft Tools
Enbridge, which has been at work on a software modernization project since 2020, is collaborating with Microsoft for improvements to efficiency and emissions reductions.
Private Equity, Finance, Investment, Energy Capital Conference
ABS Market for Upstream Producers Expanding, Panelists Say
Asset-backed securitization or ABS, which transforms oil and gas reserves into negotiable financial assets, usually have a hedging element and offer producers another financing option, panelists said Oct. 3 at Hart Energy’s Energy Capital Conference in Dallas.
Midstream, Trends, Mergers
Howard: The Implications of ONEOK’s M&A Binge
ONEOK’s M&A binge has propelled it to near the top of the sector. With so much midstream consolidation, what are its implications?
Acquisitions & Divestitures, Secondary Offering
Ares Management Launches Public Offer of Stock to Offset M&A Cost
Ares will use the net proceeds from the offer will to cover a portion of the cash consideration for its previously announced $3.7 billion acquisition of the international business of GLP Capital Partner.
Trends, Acquisitions & Divestitures, Mergers, Finance, Secondary Offering, Private Equity
Bankers’ Outlook for A&D: A Slow Unwinding of Asset Sales
Bankers from CrossFirst, Texas Capital, BOK Financial and Comerica say that after a sluggish season of asset level deals, divestitures will come from larger-scale M&A, but it will take time.
Crude Oil, Shale Plays
Lower Prices Spell Lower Oil Growth from Permian, US Shale: EIA
The U.S. Energy Information Administration reduced its forecasts for WTI oil prices and Lower 48 oil production growth in its latest Short-Term Energy Outlook report.
Transactions, Hydrogen, CCS/CCUS, Investment
8 Rivers Going Its Own Way on DAC, Zero Carbon Fuels
8 Rivers CEO Chris Richardson said the company is going its own way in developing direct air capture, converting coal and biomass into zero carbon fuel and producing low carbon blue ammonia.
Crude Oil, Pipelines, Crack Spread
Florida Gas Stations Run Empty Amid Panic Ahead of Hurricane Milton
Terminals, pipelines and gas stations are shutting down in Florida as the state readies for the impacts of Hurricane Milton.
Crude Oil, Social
Oil Falls as Swelling US Supply Counters Middle East and Hurricane Risks
Oil fell on rising U.S. crude inventories but the risk of supply disruption from the Middle East and Hurricane Milton curbed price declines.
Acquisitions & Divestitures, Liquefied Natural Gas (LNG)
Woodside Closes $900MM Acquisition of Tellurian, Renames LNG Facility
Following the close of its acquisition of Tellurian, Woodside has renamed the Driftwood LNG development as Woodside Louisiana LNG.
Renewables, Hydrogen, Carbon Management, Solar, Legislation, International, Health, Safety & Environment
DNV: Emissions Fall, Solar Soars, Oil Demand Shrinks 35% by 2050
The Norwegian risk manager spotlights the good and not so good in its latest global energy transition outlook, including predictions that half of all vehicles sold worldwide by 2031 will be electric.
Shale Plays, Unconventional, Midstream, Environmental
Finding Solutions in Unconventional Plays
How the industry is addressing the challenges and opportunities surrounding produced water.
Acquisitions & Divestitures
Viking Minerals Closes Funds II, III to Undisclosed Buyer
With the exit of the funds, Viking Minerals has invested more than $66 million since 2017 for a total return of nearly $125 million.
Natural Gas
Gas-fired Power Generation Sets New Records Over Summer: EIA
Hot temperatures and cheap prices continue to increase demand from utilities, spurring the record consumption of natural gas to generate electricity, according to the U.S. Energy Information Administration.
Acquisitions & Divestitures, Midstream, Hart Energy Exclusive, Energy Capital Conference
Tailwater E&P CEO Details Recent Core Permian Acquisition
Tailwater E&P CEO Doug Prieto said the firm put together funding for the deal from institutions, investors and family offices looking for “high quality assets that have durable cash flow.”
Midstream, ESG, Finance, Legislation
As Midstream Wobbles on IRA and ESG, a New Trend Opens Up for Sector
Enthusiasm for the Inflation Reduction Act (IRA) and ESG in the midstream sector is waning. Players are turning to a new trend—asset-backed securitization.
Acquisitions & Divestitures, Natural Gas
Chevron’s Texas Haynesville May Fetch $1B from Tokyo Gas—Report
Chevron holds more than 70,000 net acres in Panola County, Texas, but had only five Haynesville wells on the acreage at year-end 2023.
Pipelines, System Integrity, Infrastructure, Subsea
Sable Offshore Plans Restart of Subsea Pipeline After 2015 Shutdown
Sable Offshore Corp. says the permits needed to begin operations on the Santa Ynez line offshore California, which shut down due to an oil leak in 2015, are not yet in place.
Acquisitions & Divestitures, Gathering & Processing, Service & Supply
Vivakor Closes Acquisition of Permian, Eagle Ford Crude Logistics
Vivakor purchased Endeavor Crude and related companies, which have a series of long-term strategic partnerships with customers in the Permian Basin, Eagle Ford Shale and Oklahoma’s STACK play.