Record M&A in the fourth quarter of 2023 is driven by ExxonMobil and Chevron deals

Record M&A in the fourth quarter of 2023 is driven by ExxonMobil and Chevron deals

Record M&A in the fourth quarter of 2023 is driven by ExxonMobil and Chevron deals Energize Weekly, January 31, 2024 Upstream oil and gas mergers and acquisitions hit a record $144 billion in the fourth quarter of 2023 driven by two mega-deals – ExxonMobil’s $65 billion acquisition of Pioneer Natural…

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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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Energy Department has cyber threats to infrastructure in mind with $70 million funding offer

Energy Department has cyber threats to infrastructure in mind with $70 million funding offer JANUARY 5, 2024 The Department of Energy is offering $70 million in funds toward research and development for technology that would protect delivery infrastructure against cyber-related threats and other physical hazards, part of what a senior…

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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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New Mexico officials propose regulations for reuse of fracking wastewater

New Mexico officials propose regulations for reuse of fracking wastewater December 29, 2023 New Mexico environmental officials have proposed a new regulatory framework for reusing wastewater with a focus on the used, salty byproducts of oil and natural gas drilling in a major U.S. production zone. The Environment Department announced…

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Hawaii completes assessment of Oahu energy system and critical infrastructure

Hawaii completes assessment of Oahu energy system and critical infrastructure December 29, 2023 The Hawaii State Energy Office (HSEO) recently concluded work on an initiative called the O‘ahu Energy System and Critical Infrastructure Vulnerability and Resiliency Assessment. The assessment involved a comprehensive hazard and risk assessment of O’ahu’s critical energy…

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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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Feds propose 20-year ban on mining, oil and gas drilling on 225,000 acres in Thompson Divide

Feds propose 20-year ban on mining, oil and gas drilling on 225,000 acres in Thompson Divide Dec 12, 2023 The Forest Service and Bureau of Land Management plan to remove 224,713 acres from possible mining or oil and gas drilling for the next 20 years would seem worthy of an…

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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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Clean energy jobs growth worldwide surpasses fossil-fuel sector jobs which saw a decline

Clean energy jobs growth worldwide surpasses fossil-fuel sector jobs which saw a decline

Clean energy jobs growth worldwide surpasses fossil-fuel sector jobs which saw a decline Energize Weekly, November 29, 2023 Clean energy employment is growing more rapidly than fossil-fuel jobs across the globe and accounted for the majority of the 67 million jobs in the energy sector in 2022, according to an…

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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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Fossil-fuel producing countries set to blow past climate targets for oil, natural gas, and coal

Fossil-fuel producing countries set to blow past climate targets for oil, natural gas, and coal

Fossil-fuel producing countries set to blow past climate targets for oil, natural gas, and coal Energize Weekly, November 15, 2023 Fossil-fuel producing countries are set to turn out double the amount of coal, oil, and natural gas between now and 2050 needed to keep the increase in global warming to…

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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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Exxon’s blockbuster Pioneer merger needs Biden’s blessing

Exxon’s blockbuster Pioneer merger needs Biden’s blessing Oct 8, 2023 Exxon Mobil Corp. needs approval from the Biden administration before it can take over independent oil and gas producer Pioneer Natural Resources Co. in what would be the world’s biggest deal this year. That might not be such an easy…

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Favorable economics, the need for new reserves boost global oil exploration investments

Favorable economics, the need for new reserves boost global oil exploration investments

Favorable economics, the need for new reserves boost global oil exploration investments Energize Weekly, October 3, 2023 Global oil and gas exploration and production investments are set for a big rebound, according to energy analysts Wood Mackenzie and Rystad Energy. While not reaching the levels of the 2006-to-2014 boom years,…

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Appeals Court Blocks Biden Bid to Limit Oil Drilling Auction

Appeals Court Blocks Biden Bid to Limit Oil Drilling Auction September 25, 2023 A federal court left in place an order forcing the Biden administration to expand an upcoming sale of offshore drilling rights in the Gulf of Mexico, while giving the government more time to hold the auction. The…

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US natgas futures steady on healthy demand, lower supply

US natgas futures steady on healthy demand, lower supply Sept 25 U.S. natural gas futures steadied on Monday and consolidated gains from the previous session, buoyed by healthy demand and slightly lower output projections, even as the market transitions into the shoulder period for gas demand. Demand for power usually…

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Increased U.S. natural gas production in 2023 is boosting LNG and ethane exports

Increased U.S. natural gas production in 2023 is boosting LNG and ethane exports

Increased U.S. natural gas production in 2023 is boosting LNG and ethane exports Energize Weekly, September 20, 2023 Record U.S. natural gas production in 2023 is leading to a record ethane production and liquified natural gas (LNG) exports, according to the federal Energy Information Administration (EIA). The EIA is forecasting…

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Legal assault awaits Biden’s Alaska lease cancellation

Legal assault awaits Biden’s Alaska lease cancellation 09/11/2023 An Alaska corporation is already teeing up a legal battle over the Biden administration’s decision to cancel contested oil and gas leases in a massive wildlife refuge. The Interior Department announced plans last week to revoke seven leases held by the Alaska…

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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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Global oil and gas exploration spending is up at $50 billion in 2023 but reserves are down

Global oil and gas exploration spending is up at $50 billion in 2023 but reserves are down

Global oil and gas exploration spending is up at $50 billion in 2023 but reserves are down Energize Weekly, August 30, 2023 Conventional oil and gas exploration is on the upswing and spending is expected to reach $50 billion in 2023 – the highest in five years – but discovered…

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Inflation Reduction Act could unleash $3 trillion in renewable energy investments

Inflation Reduction Act could unleash $3 trillion in renewable energy investments

Inflation Reduction Act could unleash $3 trillion in renewable energy investments Energize Weekly, August 23, 2023 The $1.2 trillion in incentives proposed under the U.S. Inflation Reduction Act (IRA) will spur about $3 trillion investment in renewable energy technology over the next decade, according to Goldman Sachs Research. Goldman Sachs…

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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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A surge in carbon capture and storage projects brings promise, mergers and challenges

A surge in carbon capture and storage projects brings promise, mergers and challenges

A surge in carbon capture and storage projects brings promise, mergers and challenges Energize Weekly, August 16, 2023 Initiatives in the carbon capture market are surging with new projects, acquisitions, and a swell in government funding, but the sector could face challenges in permitting, capital costs and adequate subsidies, according…

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Global temperatures are rising in 2023 and so is worldwide consumption of coal and oil

Global temperatures are rising in 2023 and so is worldwide consumption of coal and oil

Global temperatures are rising in 2023 and so is worldwide consumption of coal and oil Energize Weekly, August 2, 2023 As the world sizzles, with July the hottest month on Earth since records have been kept, consumption of coal and oil – the two main sources of climate-warming greenhouse gases…

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Biden administration announces $650 million to plug orphaned gas and oil wells

Biden administration announces $650 million to plug orphaned gas and oil wells 07/10/23 The Interior Department announced Monday more than $650 million in Bipartisan Infrastructure Law funding to plug abandoned oil and gas wells. The $660 million in funding, available to 27 states, will go toward the plugging of so-called…

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Suncor Energy cyberattack likely to cost company millions of dollars, expert says

Suncor Energy cyberattack likely to cost company millions of dollars, expert says Jun 26, 2023 A cybersecurity expert says a systems breach at Suncor Energy Inc. will likely cost the company millions of dollars before the issue is resolved. The cyberattack affected many of Suncor’s Petro-Canada sites across the country…

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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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U.S. oil and gas auction brings nearly $80 million to federal coffers

U.S. oil and gas auction brings nearly $80 million to federal coffers 25/05/2023 The United States on Thursday carried out its first sale of oil and gas drilling rights on federal lands since President Joe Biden’s landmark climate change law was passed, attracting more than 78 million dollars in high…

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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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