US oil companies to merge in $26bn deal as firms rush to buy up drilling land 12 Feb 2024 Two American oil and gas companies have said they will merge in a $26bn (£21bn) deal, the latest in a wave of acquisitions designed to buy up the best land for drilling. Diamondback Energy has agreed…
Lawmakers look to send more state funds to clean up New Mexico’s abandoned oil wells Feb 5, 2024 A bipartisan New Mexico Senate bill intended to unlock more state funding for the clean up of abandoned oil and gas wells was endorsed by industry leaders during the 2024 Legislative Session. Senate Bill 249, sponsored by…
U.S. Oil Drillers Are Going Electric—and Hitting Speed Bumps January 29, 2024 In the country’s busiest oil field, frackers are devouring nearly as much electricity as four Seattles every day—and they are clamoring for more. Diamondback Energy, a major producer in the Permian Basin of West Texas and New Mexico, has increasingly relied on the…
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 Resources and Chevron’s $60 billion…
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 deal disclosed on Thursday is…
Analysts Look at Oil Demand Growth in 2024 and 2025 January 09, 2024 In a new report sent to Rigzone, analysts at Standard Chartered projected that global oil demand growth “will stay above the longer-term average” in 2024 and 2025. The analysts forecast increases of 1.54 million barrels per day this year and 1.41 million…
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 federal report. The joint study…
Innovative water treatment tech could help remove forever chemicals DECEMBER 27, 2023 The Tampa Water Department is exploring suspended ion exchange technology as a way to address PFAS contamination to meet new federal standards. The new year will ring in new water safety regulations for public water systems as the Environment Protection Agency is expected…
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 Thursday its petition to the…
Japan’s nuclear power plants largely undamaged following quake Jan 2, 2024 Japan’s nuclear power plants along the Sea of Japan coast escaped serious damage in the New Year’s Day earthquake that struck the Noto Peninsula in Ishikawa Prefecture. But the 7.6 magnitude quake, which triggered tsunami warnings from Hokkaido to Kyushu and led to evacuations…
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 send to shareholders, according to…
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 end-zone celebration in Crested Butte,…
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