New E&P South Wind to Pursue Large-Scale M&A with PE Backing
After selling Fayetteville gas producer Flywheel Energy last year, the team is launching South Wind Exploration & Production with Kayne Anderson financing.
Expand: 2%-Plus Gas OFS Deflation if Permian Cuts Rigs, Frac Crews
Reduced prices for goods and services may come as Permian Basin and other oil-focused E&Ps drop rigs and frac crews at $60 oil, Expand Energy executives said.
Northern Oil and Gas in the ‘Catbird Seat’ as Oil Prices Plummet
With crude prices falling below $60/bbl, Northern Oil and Gas CEO Nick O’Grady sees opportunity for his company amid an uncertain outlook.
Saudi Arabia Signals it Can Live With Lower Oil Prices, Sources Say
(Reuters) – Saudi Arabian officials are briefing allies and industry experts to say the kingdom is unwilling to prop up the oil market with further supply cuts and can handle a prolonged period of low prices, five sources with knowledge of the talks said. This possible shift in Saudi policy could suggest a move toward …
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US Crude Stockpiles Draw Unexpectedly on Export, Refinery Demand, EIA Says
(Reuters) – U.S. crude oil stockpiles fell unexpectedly last week on higher export and refinery demand, while gasoline drew down for a ninth straight week, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels to 440.4 million barrels in the week ended April 25, the EIA said, compared with analysts’ …
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Equinor Says it Could Lose Billions on Trump’s Wind Power Clampdown
(Reuters) – Equinor stands to lose billions of dollars on its massive wind power project offshore the state of New York unless U.S. President Donald Trump’s administration reverses a decision to halt the construction, the Norwegian group said on Wednesday. In a blow to the nascent U.S. offshore wind industry, Interior Secretary Doug Burgum said …
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Woodside, BP Enter Gas Supply Contract for Louisiana LNG
Louisiana LNG Gas Management LLC will purchase up to 640 Bcf of natural gas from BP following Woodside Energy’s $17.5 billion FID on the project formerly owned by Tellurian.
Equinor May Sue US After ‘Unlawful’ Halt of Offshore Wind Project
U.S. Interior Secretary Doug Burgum stopped work on the Empire Wind project, offshore New York, which Equinor said could lead to an impairment of the project’s $2.5 billion book value.
Falling Oil Prices Poised for Biggest Monthly Decline Since 2021
So far in April Brent and WTI have lost about 15% and 16% respectively for the biggest percentage falls since November 2021.
Tech Transfer: Oil States Targets Geothermal Energy
Oilfield service company Oil States aims to lower geothermal well costs with its field-proven tension-leg platform technology.