An Oil Boom? ‘What Boom?’
Frustrations were clear among oilfield and investment Redditors in response to an article that suggested the oil industry is booming. Here’s what happened—expletives deleted, emojis and all.
E-wireline: NexTier Taps Oilfield Grid, Automation for Completions
NexTier Completion Solutions is using advanced electric-drive equipment, automation-enabled pump down technology and digital connectivity to optimize wellsite operations during shale completions.
Archrock to acquire Total Operations and Production Services, LLC
$983 million cash and stock transaction expected to be immediately accretive to Archrock’s earnings per share and cash available for dividend per share Complements and deepens existing compression operations in the Permian Basin with addition of 580,000 horsepower of young assets, including approximately 500,000 operating horsepower and a substantial and contracted backlog of new equipment …
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U.S. Senators Introduce Bill to Speed Approvals of Energy Projects
The top two lawmakers on the Senate energy committee on Monday introduced long-awaited legislation to speed permitting of power transmission, mining and liquefied natural gas export projects. Senators Joe Manchin, an independent who caucuses with Democrats, and John Barrasso, a Republican, said their bill would strengthen the power grid and help keep power prices low. …
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U.S. Natgas Prices Jump 4% on Rising Exports From Freeport LNG in Texas
U.S. natural gas futures jumped about 4% to a one-week high on Monday with an increase in the amount of gas flowing to U.S. liquefied natural gas (LNG) export plants as Freeport LNG in Texas started exporting cargoes again after shutting for Hurricane Beryl in early July. Traders also noted that the hottest weather of …
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Zachry Proposes Settlement Agreement to End Golden Pass LNG Standoff
Zachry, an engineering contractor for the Golden Pass LNG project, submitted a settlement agreement in bankruptcy court that would allow Exxon Mobil and QatarEnergy to move forward with the delayed project.
Archrock to Buy NatGas Compression Firm TOPS for $983MM
The acquisition of Total Operations and Production Services will increase Archrock’s compression capacity by 30% to nearly 2.2 million operating horsepower.
NatGas Purgatory: US Gas Spot Prices Hit Record Lows in 1H24—EIA
Facing record-low commodity prices, U.S. dry gas producers have curtailed production and deferred new completions in the first half of 2024.
How Generative AI Liberates Data to Streamline Decisions
When combined with industrial data management, generative AI can allow processes to be more effective and scalable.
Tellurian’s Martin Houston: Selling to Woodside the ‘Right Deal’
Tellurian’s Executive Chairman of the Board Martin Houston discussed with Hart Energy the rationale behind a decision to sell the company to Australia’s Woodside Energy Group Ltd. for $900 million.