Company News
Oil States Sells Houston Ship Channel Facility for $24.8 Million
Oil States International Inc. has finalized the sale of its idled Houston Ship Channel facility, generating $24.8 million in net proceeds. The sale is part of the company’s broader strategy to optimize its operations and improve financial flexibility.
Glass Lewis Backs Martin Midstream's Buyout Deal with Martin Resource
Martin Midstream Partners said on Wednesday that proxy advisory firm Glass Lewis has recommended the energy infrastructure firm's unitholders to vote for the company's proposed buyout deal with Martin Resource Management Corp.
Nut Tree and Caspian Urge Martin Midstream Unitholders to Reject Merger with MRMC
Nut Tree and Caspian Capital argue that MMLP’s merger proposal relies on a "deeply flawed" valuation and disproportionately benefits Ruben Martin III, MRMC's controlling figure, at the expense of unitholders.
Progressive Pipeline Management Acquired by Platform Partners
PPM, known for its trenchless pipeline rehabilitation services, specializes in restoring aging natural gas distribution pipelines using cured-in-place-lining (CIPL) technology, which minimizes surface disruption.
WGLC 2024 Highlights Leadership Strategies for Women in Energy
The Women’s Global Leadership Conference celebrated its 20th year running as it kicked off on Nov. 19-20, once again bringing female leaders and industry experts from around the globe to discuss pressing concerns and shifts in the industry that are unique to the female experience.
WGLC 2024 Opens with Strong Call for Women’s Leadership in Energy
The 20th annual Women’s Global Leadership Conference in Energy (WGLC) kicked off with a powerful opening session led by Alexandra “Alie” Pruner, Senior Advisor at Perella Weinberg Partners/TPH&Co.
Venture Global LNG Reports $4.85 Billion in 2023 Profits Amid IPO Buzz
Venture Global LNG reported $4.85 billion in operating income for 2023, marking its second year of operations. As the company prepares for a stock market listing, financial documents reveal ambitious plans for expanding its LNG export facilities and significant revenue growth.
Chevron CEO Wirth Under Fire as Hess Deal Delay Drags Down Stock Performance
Chevron CEO Michael Wirth faces mounting pressure as the company's stock slides amid delays in the $53 billion acquisition of Hess. The stalled deal, crucial for growth, coincides with declining earnings and rising operational costs, raising concerns among investors about Chevron's future direction.
Petronas Plans “Aggressive” Expansion With New Hub in Indonesia
Malaysian state energy firm Petronas plans an "aggressive" expansion in Indonesia, which includes creating a hub for its East Java operations and investing in exploration for country's eastern regions.
2024 Midstream Winners Honored at Gulf Energy Information Excellence Awards Gala in Houston
The 2024 Gulf Energy Information Excellence Awards was held on Wednesday evening at the Post Oak Hotel in Houston, Texas (U.S.). The black-tie gala recognized the energy industry’s leading innovations and thought leaders.
Exxon Board Member Gregory Goff Joins Elliott Group's Bid to Acquire Citgo Petroleum
Exxon board member Gregory Goff has joined Amber Energy, an Elliott-backed company, in a bid to acquire Citgo Petroleum through a U.S. court auction. The deal aims to resolve Venezuela’s debts, placing a $7.28 billion enterprise value on the Houston-based oil refiner.
Business August 2024
Stay informed about the latest appointments, expansions, and industry insights in this concise business column. From new executive roles at leading companies to strategic manufacturing ventures, get key updates shaping the corporate landscape. Plus, stay in the loop with association initiatives and industry events.
Business
Stay informed about the latest appointments, expansions, and industry insights in this concise business column. From new executive roles at leading companies to strategic manufacturing ventures, get key updates shaping the corporate landscape. Plus, stay in the loop with association initiatives and industry events.
Kimmeridge Acquires 90% Stake in Commonwealth LNG
Private equity firm Kimmeridge, through its subsidiary Kimmeridge Texas Gas, has acquired a 90% stake in proposed U.S. liquefied natural gas export project Commonwealth LNG, it said on Tuesday.
Equitrans and EQT Announce Preferred Stock Election Deadline Ahead of Merger
Equitrans Midstream Corp. and EQT Corp. have announced the deadline for record holders of Equitrans Series A Perpetual Convertible Preferred Shares to elect their form of consideration in connection with the upcoming merger.
Mega-Deals Reshaping How Midstream Business Is Done
Explore how mega-deals are reshaping the midstream oil and gas industry, providing growth and stability amid regulatory challenges and limited organic expansion opportunities.
Consolidation Trends Persist in U.S. Energy Sector in 2024
The consolidation wave in the U.S. energy sector that triggered $250 billion worth of deals in 2023 has stretched into this year, as companies look for opportunities to deploy their cash hoard and boost their reserves.
Aethon Energy to Acquire Tellurian's Upstream Assets for $260 Million
Aethon Energy said it would buy Tellurian's upstream assets for $260 million and signed a deal that could allow the investment firm to purchase two million tons per annum of LNG from Tellurian's Driftwood LNG plant.
ConocoPhillips to Acquire Marathon Oil in $22.5 Billion Deal Amid Ongoing Energy Mergers
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock transaction valued at $22.5 billion, the latest in a series of mega-mergers in the oil and gas industry as companies look to bolster reserves.
Business
Stay informed about the latest appointments, expansions, and industry insights in this concise business column. From new executive roles at leading companies to strategic manufacturing ventures, get key updates shaping the corporate landscape. Plus, stay in the loop with association initiatives and industry events.
Exxon's $60 Billion Pioneer Merger Deal Poised for FTC Approval, Pending Key Condition
The FTC is likely to approve ExxonMobil's $60 billion buyout of Pioneer Natural Resources, but former Pioneer CEO Scott Sheffield's exclusion from the merged board may be crucial for finalizing the deal.
Business News March 2024
Association news, personnel changes and mergers and acquisitions in March 2024!
Business News January 2024
Association news, personnel changes and mergers and acquisitions in January 2024!
19th Pipeline Technology Conference Returns to Berlin in 2024
(P&GJ) — The 19th Pipeline Technology Conference (ptc) is set to return to Berlin, Germany, from April 8 to 11, 2024, bringing together global experts and innovators in the pipeline industry.
BP Short-Lists Three Internal Candidates for CEO
BP's board has short-listed interim CEO Murray Auchincloss and two senior female executives as internal candidates to replace Bernard Looney as chief executive, three company and industry sources told Reuters.
U.S. LNG Developer Tellurian Ousts Co-Founder Souki as Chairman
Tellurian ousted its chairman and co-founder Charif Souki as an executive officer, the U.S. liquefied natural gas (LNG) developer said on Friday, weeks after auditors raised doubts about the company's ability to cover future expenses.
Business News December 2023
Association news, personnel changes and mergers and acquisitions in December 2023!
India Energy Week to Showcase India’s Leadership in the Global Energy Landscape
(P&GJ) — The second edition of India Energy Week (IEW) will be hosted in Goa from February 6th to 9th 2024, by the Federation of Indian Petroleum [FIPI] Industry, under the aegis of Ministry of Petroleum and Natural Gas, Government of India.
AMPP Gulf Coast Area to Host Inaugural Conference in Houston
(P&GJ) — The AMPP Gulf Coast Conference is set to debut in Houston, Texas, from Monday, Aug. 5 to Wednesday, Aug. 7, 2024. This inaugural event marks a significant milestone for the AMPP Gulf Coast Area, bringing together Association for Materials Protection and Performance (AMPP) members, industry leaders, experts, and professionals in corrosion prevention and materials performance.
ROSEN Founder Sells Majority Stake to Partners Group
(P&GJ) — Hermann Rosen, founder of ROSEN Group, has sold a majority stake in ROSEN to the global private markets firm Partners Group, as part of his succession planning.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
