E&P
Petrobras Aims to Cut Gas Reinjection, CEO Says
The government published a decree on Monday authorizing the oil regulator ANP to order oil companies to reduce the reinjection to increase the supply of gas and lower prices.
Exxon to Sell $1 Billion in Non-Core Permian Basin Oil Assets
Top U.S. oil company ExxonMobil is looking to sell oil assets in the U.S. Permian Basin that could fetch $1 billion, Bloomberg Law reported on Tuesday.
Gran Tierra Energy Offers $226 Million to Acquire UK’s i3 Energy
With the deal, Gran Tierra Energy aims, to create an independent energy company of scale in the Americas, with increased production, reserves, cash flows, and development options across Canada, Colombia, and Ecuador.
Pemex Approved for $400 Million Boost in New 'Mexican Gas Frontier,' Includes Pipeline Expansion
Pemex has received approval to increase its investment in the Lakach deepwater gas project by $400 million, marking a significant step in Mexico's new 'gas frontier.' The expansion includes building additional pipeline infrastructure and comes as billionaire Carlos Slim signs a $1.2 billion contract with Pemex.
Oil Producer APA Explores $1 Billion Sale of Permian Basin Assets: Sources
APA Corp. is exploring the sale of oil and gas drilling properties spread across parts of the Permian basin of Texas and New Mexico, in a deal that could be valued at about $1 billion, people familiar with the matter told Reuters.
North Dakota Oil Production Drops Again in June, Hits 1.18 Million bbl/d
North Dakota's oil production fell by 22,500 barrels per day (bbl/d) in June to an estimated 1.176 million bbl/d, the state's Pipeline Authority said on Thursday, marking a second straight monthly decline.
Maverick Natural Resources Explores $3 Billion Sale, Sources Say
The Houston-based exploration and production company, which is owned by energy-focused investment firm EIG, is working with investment bankers at Jefferies on the sale process, the sources said, requesting anonymity as the discussions are confidential.
Gran Tierra Reports Fifth Oil Discovery in Ecuador with Charapa-B6 Well
Gran Tierra Energy Inc. has announced its fifth oil discovery in Ecuador with the successful drilling of the Charapa-B6 well on the Charapa block.
Occidental Puts CrownRock Expansion on Hold, Targets Debt Cut
Occidental Petroleum said it will focus on cutting debt and catching up with promised production goals before an eagerly anticipated expansion of its cash distribution program.
Chevron Achieves Industry First with Ultra-High Pressure Oil Field in Gulf of Mexico
At its peak, the floating platform will pump up to 75,000 barrels of oil and 28 million cubic feet of natural gas a day. The field is about 140 miles (225 km) off the coast of Louisiana.
NOG to Acquire Additional Uinta Basin Assets for $17.5 Million
Northern Oil and Gas Inc. announced it has exercised its option to acquire a 20% stake in the Altamont Assets in the Uinta Basin. The purchase price is $17.5 million in cash, subject to customary closing adjustments.
Chevron-Hess Merger Drags On Amid Exxon Arbitration Challenge
Chevron said an arbitration panel that will evaluate Exxon's challenge to its Hess acquisition should have a decision between June and August 2025.
Vital Energy, Northern Oil and Gas Acquire Point Energy Shale Assets for $1.1 Billion
Vital Energy and Northern Oil and Gas will jointly acquire U.S. shale assets from private equity-owned Point Energy Partners for $1.1 billion.
Pieridae Energy Halts Production Due to Low Natural Gas Prices
Pieridae Energy said it has shut-in the production of about 6,250 barrels of oil equivalent per day that flows to a third-party owned and operated facility, in response to low natural gas prices.
Gas-Rich Venezuela Faces Production Challenges Ahead of Election
While it sits atop the world's eighth-largest natural gas reserves and the biggest in Latin America, Venezuela's output fell to 4 Bcf/d this year from almost 8 Bcf/d in 2016, data from consultancy Gas Energy Latin America showed.
Crescent Energy, SilverBow Resources Set to Close $2.1 Billion Merger by July 30
The merger, which follows industry consolidation trends, will position Crescent as the second-largest operator in the Eagle Ford basin.
Judge Pauses Wyoming Oil, Gas Drilling Leases for Environmental Review
A federal judge has ordered the U.S. Bureau of Land Management to pause approving new permits to drill for oil and gas on nearly 120,000 acres of federal land in Wyoming until it finishes reevaluating the environmental impacts of a lease sale.
Biden Administration Considers Expanded Alaska Drilling Protections
The Biden administration is seeking input on whether to add more areas for protection from oil and gas drilling in Alaska's National Petroleum Reserve.
Gevo Surpasses Production Milestone in Renewable Natural Gas
Gevo Inc. has reported reaching a new production milestone in its renewable natural gas business, achieving an annualized rate of approximately 402,000 MMBtu in May.
Bolivia Makes Largest Natural Gas Discovery Since 2005 in "Mega Field"
Bolivian President Luis Arce on Monday announced the discovery of a 1.7 trillion cubic foot natural gas reserve located north of the country's administrative capital, La Paz.
U.S. Coast Guard Warns Hurricane Beryl May Shut Texas Oil Ports
The U.S. Coast Guard warned of possible Texas port closures from Corpus Christi to Houston because of Hurricane Beryl, which is expected to make landfall by Monday morning south of Port Lavaca.
Tropical Storm Beryl Expected to Have Minimal Impact on U.S. Offshore Oil Production
Tropical Storm Beryl is expected to have little impact on U.S. offshore oil and gas production, energy companies said on Friday while evacuating personnel from some facilities out of caution.
U.S. Senate Probes Oil Producers for Alleged Price Collusion with OPEC
The U.S. Senate budget committee on Thursday launched a probe of domestic oil producers about any efforts to illegally coordinate oil prices with OPEC, in the latest effort by Democratic lawmakers to pressure energy companies.
Sinopec Strikes Significant Oil, Gas Flow in South China Sea Well
China's Sinopec Corp has struck a high flow of oil and gas in an offshore exploration well in the Beibu Gulf of the South China Sea, it said on Wednesday.
Germany's Wintershall Dea Makes Gas Condensate Discovery in North Sea
Germany's Wintershall Dea and its Norwegian partners Petoro and DNO have made a gas condensate discovery at the Cuvette prospect in the northern North Sea, the operator said in a statement on Wednesday.
Goldman Sachs: Permian Production, OPEC Capacity Likely to Cap Brent at $75-90/bbl
Goldman Sachs expects robust oil production growth in the Permian Basin, the largest U.S. oilfield, and high OPEC spare capacity to likely support the ceiling of their $75-90 per barrel Brent price forecast in the short run, the bank said in a research note on Tuesday.
States Sue U.S. to Block $7 Billion Rule Requiring Oil Firms to Guarantee Well Dismantling Payments
Texas, Louisiana and Mississippi on Monday sued the U.S. government to block the Biden administration's proposed rule that would require the offshore oil and gas industry to provide nearly $7 billion in financial assurances to cover costs of dismantling old infrastructure.
Crescent Energy Acquires SilverBow for $2.1 Billion, Creating Second Largest Eagle Ford Operator
Oil and gas producer Crescent Energy will acquire rival SilverBow Resources in a $2.1 billion deal, creating the second-largest operator in the Eagle Ford basin in Texas.
Chevron Prepares for North Sea Exit After More Than 55 Years
Chevron said it is set to launch the sale of its remaining U.K. North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years.
Exxon, Pertamina to Advance Carbon Capture Efforts with Appraisal Drilling in Indonesia
Pertamina and Exxon plan to conduct appraisal drilling for a carbon capture and storage (CCS) hub in Indonesia, with the companies signing an initial storage deal with South Korea's KNOC on Wednesday.
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- DOE Considers Cutting Over $1.2 Billion in Carbon Capture Project Funding
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Newsom Seeks to Aid Struggling Refiners Following Valero’s California Exit
