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…
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…
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,…
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 showing the sector needs to…
News From the Oil Patch: U.S. sets all-time crude production record Oct 16, 2023 U.S. operators set an all-time record for crude oil production last week. According to the Energy Information Administration, domestic output averaged 13,218,000 barrels per day last week. That’s the best weekly tally ever, 140,000 barrels per day higher than the previous…
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 volumes are falling to new…
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 said the IRA has created…
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 in the basin has generated…
US shale oil/natgas output set to fall for first time since December – EIA July 17, 2023 U.S. shale oil and natural gas production will fall in August for the first time since December, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday. Crude output from the seven big…
North America Sees Rig Loss Regression July 03, 2023 North America went back to losing rigs week on week, Baker Hughes’ latest rotary rig count, which was released on June 30, revealed. According to the count, North America dropped 10 rigs week on week, with the U.S. losing eight week on week, while Canada dropped…
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 to the International Energy Agency…
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