ConocoPhillips Still Sees Marathon Oil Merger Closing Q4 despite FTC Probe July 15, 2024 ConocoPhillips has maintained that its $22.5 billion acquisition of Marathon Oil Corp. can be completed by the fourth quarter (Q4) despite facing an extended anti-trust review by the United States competition regulator. The Federal Trade Commission (FTC) issued a so-called “second…
Global oil production to rise while demand falls, putting pressure on prices and investments Energize Weekly, July 10,2024 Increasing global oil production in the face of plateauing demand will put price pressures on producers and challenge the large capital investment the industry is making, according to the International Energy Agency’s (IEA) annual market analysis and…
Federal departments announce about $280M in funding for Alaska projects July 1, 2024 Three departments of the U.S. government have announced they have awarded about $280 million in new funding for transportation and energy projects in Alaska, money made available through the Infrastructure Investment and Jobs Act of 2021 and the Inflation Reduction Act of…
DOE, EPA announce $850M to reduce methane emissions from oil, natural gas industries June 25, 2024 The U.S. Department of Energy (DOE) and the U.S. Environmental Protection Agency recently announced $850 million in federal funding was available for projects that will help monitor, measure, quantify, and reduce methane emissions from the oil and natural gas…
Big energy projects moving fast, face $150 billion a year in cost overruns, Bain & Co. says Energize Weekly, June 19, 2024 The scale and speed of the energy transition risks project delays and setbacks leading to cost overruns of 15 percent to 20 percent, equal to $150 billion a year, according to research paper…
U.S. natural gas output rises as methane emissions fall, pointing to pollution control gains Energize Weekly, June 12, 2024 U.S. natural gas production rose by 40 percent between 2015 and 2020, while methane emissions from drilling and extraction fell by 37 percent – pointing to significant gains in pollution control, according to a report by…
ConocoPhillips-Marathon Deal Represents a Pivot June 04, 2024 The ConocoPhillips-Marathon Oil transaction represents a pivot in U.S. shale mergers and acquisitions, from deals focused on increasing exposure in a single key basin or play to acquiring a multi-basin operator. That’s what Enverus Intelligence Research (EIR) Principal Analyst Andrew Dittmar said in a statement sent to…
A record hurricane season may pose risks to Gulf oil production, refining and LNG exports Energize Weekly, May 29, 2024 The prospect of a record-breaking hurricane season in 2024 poses risks for U.S. oil and gas production, refining and liquefied natural gas (LNG) exports, according to the federal Energy Information Administration (EIA). The National Oceanic…
New Bloomberg Study Warns of $150 Oil May 14, 2024 A recent release sent to Rigzone by Bloomberg Intelligence (BI) warned that, according to a new analysis by BI and Bloomberg Economics (BE), “an escalation to a direct war between Israel and Iran could result in oil prices rising to $150 a barrel and global…
ExxonMobil will ‘still be producing oil and gas’ in 2050: CEO May 7, 2024 ExxonMobil (XOM) will still be producing oil and gas in 2050, the energy company’s CEO told Yahoo Finance on Monday, but fossil fuels will likely be a smaller part of the business. Darren Woods told Yahoo Finance’s Brian Sozzi and Akiko…
Oil and gas mergers set to cool after a hot first quarter in 2024 with $51 billion in deals Energize Weekly, May 1, 2024 Mergers and acquisitions (M&A) in the U.S. upstream oil and gas sector in the first quarter of 2024 kept up last year’s record-setting pace with $51 billion in deals, but the…
Shale-Oil ‘Fracklog’ Shows US Oil Production May Be Slowing Apr 15, 2024 Shale explorers are drilling wells faster than they’re fracking them, a signal that US oil-production growth is slowing. Oil companies added to the number of drilled-but-uncompleted wells, known as the fracklog, last month for the first time in more than a year, according…
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