Chesapeake to become top US natural gas producer with $7.4 billion deal for Southwestern

Chesapeake to become top US natural gas producer with $7.4 billion deal for Southwestern January 11, 2024 Chesapeake Energy (CHK.O), agreed to buy smaller rival Southwestern Energy (SWN.N), in an all-stock transaction valued at $7.4 billion, a deal that will make it the largest independent U.S. natural gas producer. The…

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Coordination of Texas electric and natural gas sectors key in dealing with blackouts

Coordination of Texas electric and natural gas sectors key in dealing with blackouts

Coordination of Texas electric and natural gas sectors key in dealing with blackouts Energize Weekly, January 10, 2024 Better coordination between the Texas electric and natural gas industries is key to getting individual generating facilities up and running – a so-called blackstart – after a cold-weather blackout, according to a…

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Major oil companies atop a cash-flow wave reduce debt, increase shareholder payouts

Major oil companies atop a cash-flow wave reduce debt, increase shareholder payouts

Major oil companies atop a cash-flow wave reduce debt, increase shareholder payouts Energize Weekly, December 20, 2023 The world’s five largest oil companies, riding a wave of high energy prices, pulled in $613 billion in cash flow between January 2021 and September 2023, which they used to reduce debt and…

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Williams increases DJ basin gas gathering, processing assets through closed deals

Williams increases DJ basin gas gathering, processing assets through closed deals Nov. 30, 2023 Williams, Tulsa, Okla., closed two transactions that now position the company as the third largest gatherer in the Denver-Julesburg (DJ) basin, the company said in a release Nov. 30. The acquisitions have a combined value of…

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IEA takes aim at oil and gas sector at COP28, industry offers an agreement to cut methane

IEA takes aim at oil and gas sector at COP28, industry offers an agreement to cut methane

IEA takes aim at oil and gas sector at COP28, industry offers an agreement to cut methane Energize Weekly, December 6, 2023 As the climate conference – COP28 – opened in Dubai, the International Energy Agency (IEA) fired a shot across the bow of the oil industry with an analysis…

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Greek shippers exit Russian oil trade as U.S. tightens price cap scrutiny

Greek shippers exit Russian oil trade as U.S. tightens price cap scrutiny November 23, 2023 Three major Greek shipping firms have stopped transporting Russian oil in recent weeks in order to avoid U.S. sanctions now being imposed on some shipping firms carrying Russian oil, four traders told Reuters and shipping…

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Global LNG market stable for this winter, but there will be more volatility down the road

Global LNG market stable for this winter, but there will be more volatility down the road

Global LNG market stable for this winter, but there will be more volatility down the road Energize Weekly, November 22, 2023 Ample gas inventories in the U.S. and Europe and increased liquified natural gas (LNG) export and import capacity will likely meet global needs this winter, but growing demand over…

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Dominion plans large liquified natural gas facility in Person County near Rougemont

Dominion plans large liquified natural gas facility in Person County near Rougemont NOVEMBER 3, 2023 Dominion Energy, the main corporate actor behind the defunct Atlantic Coast Pipeline, plans to build the Moriah Energy Center, two 25-million-gallon liquified natural gas facilities on 485 acres in southeastern Person County, about two miles…

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PHMSA Announces Proposed Rulemaking Affecting Natural Gas Distribution Systems

PHMSA Announces Proposed Rulemaking Affecting Natural Gas Distribution Systems August 28, 2023 On Aug. 24, 2023, the U.S. Department of Transportation (DOT) Pipeline and Hazardous Materials Safety Administration (PHMSA) announced the forthcoming publication of a notice of proposed rulemaking intended to improve safety on gas distribution pipelines nationwide by improving…

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Chesapeake to complete Eagle Ford basin exit with SilverBow deal

Chesapeake to complete Eagle Ford basin exit with SilverBow deal August 14, 2023 U.S. natural gas producer Chesapeake Energy (CHK.O) said on Monday it would sell its remaining Eagle Ford assets to SilverBow Resources (SBOW.N) for $700 million, completing its exit from the south Texas basin. The company’s asset sales…

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Global oil and gas investment rises even as demand slows risking overcapacity in the sector

Global oil and gas investment rises even as demand slows risking overcapacity in the sector

Global oil and gas investment rises even as demand slows risking overcapacity in the sector Energize Weekly, June 21, 2023 Global demand for oil is set to slow in the next five years even as investment in oil industry infrastructure is projected to grow, risking an overcapacity in production, according…

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Supermajors are scrubbing their greenhouse gas emissions by offloading dirtier assets

Supermajors are scrubbing their greenhouse gas emissions by offloading dirtier assets

Supermajors are scrubbing their greenhouse gas emissions by offloading dirtier assets Energize Weekly, May 31, 2023 Seven of the world’s “supermajor” oil companies are cleaning up their greenhouse gas emissions in large part by offloading some of the dirtiest assets to small companies who are often poor environmental performers, according…

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Chevron’s $7.6B purchase of PDC Energy creates the biggest oil and gas company in Colorado

Chevron’s $7.6B purchase of PDC Energy creates the biggest oil and gas company in Colorado May 23, 2023 Chevron Corp. is buying PDC Energy in a $7.6 billion deal that will make it by far and away the largest oil and gas producer in Colorado and continues a trend in…

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Oil and gas M&A deals down 50 percent to $14.8 billion quarter-over-quarter in Q1 2023

Oil and gas M&A deals down 50 percent to $14.8 billion quarter-over-quarter in Q1 2023

Oil and gas M&A deals down 50 percent to $14.8 billion quarter-over-quarter in Q1 2023 Energize Weekly, May 10, 2023 Oil and gas industry mergers and acquisitions (M&A) flagged in the first quarter of 2023 with a 35 percent drop in deals to 74 and the value halved to $14.8…

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Standard Chartered Dubs Latest USA EIA Data Highly Bullish

Standard Chartered Dubs Latest USA EIA Data Highly Bullish May 02, 2023 In a new report sent to Rigzone on April 28, analysts at Standard Chartered said the latest Energy Information Administration (EIA) weekly data was “highly bullish” according to the company’s U.S. oil data bull-bear index, which they said…

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Tennessee raises felony charge for ‘interfering’ with oil and gas pipeline projects

Tennessee raises felony charge for ‘interfering’ with oil and gas pipeline projects APRIL 16, 2023 In the past four years, Tennessee has passed multiple laws aimed to protect fossil fuel projects from community challenges, like the law that preempts local governments from blocking fossil fuel projects, or the one that…

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Oil and gas sector routinely targeted by cyberattackers, experts say

Oil and gas sector routinely targeted by cyberattackers, experts say April 10, 2023 Cybersecurity experts say they aren’t surprised by the revelation contained within a package of leaked U.S. intelligence documents suggesting Russian-backed hackers successfully gained access to Canada’s natural gas distribution network. They say oil and gas infrastructure in…

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U.S. pipeline regulator grants over $25 million in funding to improve safety

U.S. pipeline regulator grants over $25 million in funding to improve safety March 20, 2023 The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) on Monday announced more than $25 million in funding to improve safety nationwide after recent train derailments. These grants are targeted to train…

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Hydrogen is supplementing natural gas, but critics remain wary

Hydrogen is supplementing natural gas, but critics remain wary FEB 6, 2023 A public utility is experimenting with blending small amounts of carbon-free hydrogen into natural gas lines in some Minnesota homes, but critics argue the procedure remains largely an exercise in hot air. As first reported last week by…

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Number of oil and gas mergers and acquisitions hits a 17-year low in Q4 of 2022

Number of oil and gas mergers and acquisitions hits a 17-year low in Q4 of 2022

Number of oil and gas mergers and acquisitions hits a 17-year low in Q4 of 2022 Energize Weekly, February 1, 2023 The volume of oil and gas sector mergers and acquisitions fell to a 17-year low in the last quarter of 2022 as deal value for the quarter declined 13…

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Biden administration threatens veto of GOP bill restricting strategic oil reserve releases

Biden administration threatens veto of GOP bill restricting strategic oil reserve releases Jan 23, 2023 The Biden administration is threatening to veto Republican-led legislation that would restrict the release of oil from the country’s emergency reserve. “If Congress were to pass H.R. 21, the president would veto it. He will…

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US House passes bill to ban US strategic oil reserve sales to China; Senate path unclear

US House passes bill to ban US strategic oil reserve sales to China; Senate path unclear 12 Jan 2023 The US House of Representatives advanced legislation Jan. 12 aimed at preventing crude oil from the US Strategic Petroleum Reserve from ending up in China, sending the measure to the Senate…

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Why natural gas prices — and bills — are soaring in Southern California

Why natural gas prices — and bills — are soaring in Southern California JAN. 9, 2023 Southern California Gas Co. and San Diego Gas & Electric have issued stark warnings to customers that their January natural gas bills could double, citing factors for historically high wholesale costs that include sinking…

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Colorado co-ops say Xcel Energy mismanaged natural gas supplies during 2021 storm

Colorado co-ops say Xcel Energy mismanaged natural gas supplies during 2021 storm

Colorado co-ops say Xcel Energy mismanaged natural gas supplies during 2021 storm Energize Weekly, January 11, 2023 The fallout from the soaring natural gas prices created by Winter Storm Uri in 2021 continues as four rural Colorado electric cooperatives have filed a complaint with federal regulators saying they were overcharged…

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To replace Russian gas, Europe builds more LNG capacity and boosts U.S. imports

To replace Russian gas, Europe builds more LNG capacity and boosts U.S. imports

To replace Russian gas, Europe builds more LNG capacity and boosts U.S. imports Energize Weekly, January 4, 2023 In the dash to replace Russian natural gas supplies, liquefied natural gas (LNG) import capacity in the European Union (EU) and the United Kingdom (UK) is set to expand by a third…

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US to Become Net Exporter of Crude Oil in 2023

US to Become Net Exporter of Crude Oil in 2023 19 December 2022 The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year. Sales of U.S. crude to…

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High gas prices, energy security concerns make capturing fugitive and flared gas profitable

High gas prices, energy security concerns make capturing fugitive and flared gas profitable

High gas prices, energy security concerns make capturing fugitive and flared gas profitable Energize Weekly, December 21, 2022 The combination of higher natural gas prices and geopolitical concerns about energy security is making the capture and commercialization of fugitive and flared emissions economically viable around the world, according to a…

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Keystone pipeline has now leaked more oil in the US than any other since 2010: report

Keystone pipeline has now leaked more oil in the US than any other since 2010: report 12/12/22 On the heels of another spill last week, the massive Keystone pipeline has now leaked more oil than any other pipeline since 2010, according to a new report from Bloomberg. With more than…

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US FERC to act on backstop transmission siting, long-running gas pipeline disputes

US FERC to act on backstop transmission siting, long-running gas pipeline disputes 12 Dec 2022 The US Federal Energy Regulatory Commission is poised to act on transmission siting, key pipeline rate disputes, and two important natural gas pipeline certificates at its last meeting of the year Dec. 15, potentially Democrat…

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Deepwater oil and gas production set to grow 60 percent by 2030 hitting 17 million BOE/D

Deepwater oil and gas production set to grow 60 percent by 2030 hitting 17 million BOE/D

Deepwater oil and gas production set to grow 60 percent by 2030 hitting 17 million BOE/D Energize Weekly, December 7, 2022 Deepwater oil and gas production is set to increase more than 60 percent between 2022 and 2030, reaching 17 million barrels oil equivalent per day (BOE/D) – equal to…

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Interior Department finalizes plans for sale of oil and gas leases off coast of Alaska

Interior Department finalizes plans for sale of oil and gas leases off coast of Alaska November 28, 2022 The Interior Department announced final steps to carry out an oil and gas lease sale off Alaska’s coast, just the second such offshore lease sale of President Joe Biden ‘s tenure. The…

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US offshore oil and gas rigs at ‘significant’ risk of cyberattacks, warns government watchdog

US offshore oil and gas rigs at ‘significant’ risk of cyberattacks, warns government watchdog November 22, 2022 U.S. offshore oil and gas infrastructure faces “significant and increasing” cybersecurity risks that require “urgent” attention, a U.S. government’s watchdog has warned. The Government Accountability Office said in a new report that the…

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U.S. grid faces “unprecedented” risk of electricity shortfalls this winter, NERC warns

U.S. grid faces “unprecedented” risk of electricity shortfalls this winter, NERC warns

U.S. grid faces “unprecedented” risk of electricity shortfalls this winter, NERC warns Energize Weekly, November 23, 2022 A large swatch of the U.S. electricity grid – in Texas, the Midwest, Southeast and New England – is at risk of being unable to provide adequate power in the face of extreme…

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Equinor Leads the Way in Adoption of Low-emission Offshore Drilling Rigs, Westwood Says

Equinor Leads the Way in Adoption of Low-emission Offshore Drilling Rigs, Westwood Says November 15, 2022 The availability of emission-lowering upgrades for offshore rigs has been on the rise, but adoption of these new technologies is slow outside of Norway and the US Gulf of Mexico due to limited regulatory…

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Spurred by high commodity prices, energy production revenues on federal lands surge

Spurred by high commodity prices, energy production revenues on federal lands surge

Spurred by high commodity prices, energy production revenues on federal lands surge Energize Weekly, November 16, 2022 Energy production on federal lands and offshore areas in 2022 generated $22 billion for the federal and state governments – the highest in revenues since 2008 and second highest in 39 years, according…

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ConocoPhillips records big profits, expects to start work at $8 billion Alaska oil project early next year

ConocoPhillips records big profits, expects to start work at $8 billion Alaska oil project early next year 11/7/22 ConocoPhillips reported making huge profits in the latest quarter amid growing criticism that oil companies are benefiting as gas prices soar, and as President Joe Biden threatens to pursue a windfall profits…

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Eversource CEO fears New England might not have enough natural gas if winter is bitter

Eversource CEO fears New England might not have enough natural gas if winter is bitter Oct 29, 2022 The top executive of one of the top energy suppliers in New England fears the region may not have enough power if a severe cold spell hits this winter. Eversource Energy CEO…

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War in Ukraine is speeding a global energy transition, hobbling Russian exports, IEA says

War in Ukraine is speeding a global energy transition, hobbling Russian exports, IEA says

War in Ukraine is speeding a global energy transition, hobbling Russian exports, IEA says Energize Weekly, November 2, 2022 Global fossil fuel consumption and greenhouse gas emissions are slowing with oil, coal and natural gas either peaking or reaching a plateau by 2030, according to the International Energy Agency (IEA).…

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Global carbon capture capacity set to grow sixfold by 2030, BloombergNEF says

Global carbon capture capacity set to grow sixfold by 2030, BloombergNEF says

Global carbon capture capacity set to grow sixfold by 2030, BloombergNEF says Energize Weekly, October 26, 2022 Global carbon capture capacity, with more than $3 billion invested in the technology this year, is set to increase sixfold from current levels by 2030, according to an analysis by energy research firm…

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Oil Prices Dip on Report Biden Preparing New Sales From Strategic Petroleum Reserve

Oil Prices Dip on Report Biden Preparing New Sales From Strategic Petroleum Reserve 10/18/22 Global oil prices moved lower Tuesday amid reports that President Joe Biden is planning to unveil another release of crude from the nation’s emergency reserves in an effort to reduce energy costs heading into the mid-term…

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French Refinery Strike Opens Door for More US Exports to Asia

French Refinery Strike Opens Door for More US Exports to Asia October 10, 2022 Asian refiners snapped up at least 12 million barrels of US crude oil in the past two weeks as a strike in France dims demand from one of Europe’s largest buyers. Refiners, mostly from South Korea,…

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