CEO: Ovintiv Passes on Permian Prices for More Montney Condensate
Rumored to be a potential buyer in the Permian Basin, Ovintiv instead struck a deal for lower-cost oil and condensate assets in Alberta’s Montney Shale.
Occidental CEO Sees Bipartisan DAC Support as Projects Advance
Occidental Petroleum CEO Vicki Hollub said the next president will be positive for the U.S. energy industry, especially direct air capture.
US NatGas Storage Levels Back in Record Territory
The U.S. Energy Information Administration’s weekly report shows a 42 Bcf increase of natural gas in storage, matching expectations.
Baker Hughes, SOCAR Partner to Limit Flaring at Azerbaijan Oil Refinery
Baker Hughes and SOCAR expect to recover flare gas equivalent up to 7 million normal cu. m of methane per year and further reduce CO2 emissions by up to 11,000 tons per year.
Global Oil Market Faces a Million-Barrel Glut Next Year, Says IEA
Supply from the U.S., Brazil, Canada and Guyana is set to grow Oil drums sit stacked in a warehouse at Jacobi Oil Service, Inc. in Floyds Knobs, Ind. Global oil markets are facing a surplus next year as Chinese demand continues to falter. Photo by Luke Sharrett /Bloomberg Global oil markets face a surplus of …
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Empire Raises $10M in Equity Offering to Ease Doubts, Reports $3.6M Loss
Empire Petroleum received a waiver from its lender after falling out of compliance with a credit agreement.
PHX Insists Shareholders Reject WhiteHawk’s Latest Offer
PHX Minerals’ board maintained its stance on Nov. 14 that WhiteHawk’s latest offer was not in the best interest of its stockholders.
Gas Storage Capacity Needed, But Will Companies Rise to the Challenge?
Several projects are on the drawing board to meet the rising demand for natural gas along the Gulf Coast.
Exxon Mobil to Cut Almost 400 Jobs in Wake of Pioneer Acquisition
A regulatory filing shows more than 90% of layoffs are at Pioneer’s former headquarters in Irving, Texas with the rest being workers in Midland.
US Energy Sector Deals Extend Strong Run as Producers Build Reserves
Nov 14 (Reuters) – U.S. energy sector mergers are set to close 2024 on a high note after a blockbuster 2023 when the total deal value hit a record $250 billion, as companies double down on efforts to augment their oil and gas reserves. Deals worth $12 billion were disclosed in the quarter ended Sept. …
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