Matador Consolidates Midstream Subsidiary, JV in $600MM Deal
Matador is merging its Delaware Basin Pronto Midstream subsidiary with its San Mateo Midstream joint venture with Five Point Energy.
OPEC+ Delays Oil Hike Until April, Extends Cuts Into 2026—Sources
OPEC+ has repeatedly postponed increases crude oil volumes in the faces of weak demand and rising supply from rivals.
Funds Wait on U.S. Energy Regulator to Answer a $26 Trillion Question
(Reuters) U.S. energy regulators have another window of opportunity to clarify the role that giant fund firms should play in corporate ownership. It’s a good chance to resolve a nagging question for investors and stock issuers alike. In October BlackRock asked the U.S. Federal Energy Regulatory Commission to extend for another three years its permission …
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OPEC+ To Delay Oil Output Hike Until April, Source Says
(Reuters) – OPEC+ has agreed to delay its plan to raise oil output until April 2025, an OPEC+ source told Reuters while its meeting was underway, to provide additional support for the oil market. The group will unwind its latest layer of output cuts gradually from April 2025 until 2026, the source said.
CNX’s $505MM Bolt-On Adds Marcellus, Deep Utica in Pennsylvania
CNX Resources CEO Nick Deiuliis said the deal to buy Apex Energy underscores CNX’s confidence in the stacked pay development opportunities unlocked in the deep Utica.
Shell, Equinor JV to Create UK’s Largest Independent Oil, Gas E&P
The joint venture will produce more than 140,000 boe/d in 2025, Shell said. In the U.K., Equinor currently averages 38,000 boe/d and Shell 100,000 boe/d.
Oil Gives Back Some Gains After Source Says OPEC+ to Delay Output Hike
(Reuters) – Oil prices pared some gains on Thursday after a source told Reuters OPEC+ has agreed to delay a planned oil output hike until April 2025. Brent crude was up 24 cents, or 0.3%, to $72.55 a barrel at 1237 GMT. It had been at $72.84 before Reuters reported the delay. U.S. West Texas …
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The Midland—Oxy’s Second Growth Engine—Already Purring
From 18,000-ft laterals to new exploration in the Emma Barnett, Thaimar Ramirez, president and general manager of Oxy’s Midland Basin Business Unit, detailed the integration of its $12 billion CrownRock takeover.
ONEOK Expands Texas NGL Capacity
ONEOK has strengthened its NGL position in Texas, adding a fractionator and newly looped pipeline to its assets.
Bank Sold Over $270 million of US Oil Futures Ahead of OPEC+ Meet, Source Says
(Reuters) – A single bank sold a large volume of U.S. oil futures contracts in early afternoon trading on Wednesday, a person with direct knowledge of the matter said, pushing prices down more than 1% within minutes and causing traders to scramble to decipher the reason. The sale, just hours ahead of an OPEC+ virtual …
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