Oil, Gas and Shale
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NEWS Click on text to read news by category: General | Product | People | Worldwide

Smaller Oil Firms Pay Top Dollar for Permian Land as Large Players Cash Out

November 11, 2021

Large oil companies are racing to sell land in the largest U.S. shale formation as rising crude prices present them with a golden opportunity to jettison unwanted acreage and meet shareholder demands to lower costs, people involved with transactions told

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Significant Issues Remain Unresolved in Draft Deal at U.N. Climate Talks

November 11, 2021

Governments are considering calling for pulling the plug on coal power, the single biggest source of man-made greenhouse gas emissions, according to a draft deal under negotiation in U.N. climate talks. The draft released Wednesday at the talks in Glasgow,

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ExxonMobil to Invest $15 Billion to Implement Low-carbon Initiatives

November 11, 2021

ExxonMobil revealed plans to inject more than $15 billion over the next six years to implement various initiatives aimed at reducing the greenhouse gas emissions at its operated facilities. The U.S.-based oil and gas major said that it is on

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Larry Kudlow Slams John Kerry’s Claim that the U.S. ‘Won’t Have Coal’ By 2030

November 11, 2021

Larry Kudlow, former director of the National Economic Council said Wednesday during a Fox News appearance that John Kerry’s recent claim regarding coal in the U.S. was “unserious and silly.” During the United Nations climate conference, John Kerry made the

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Noble and Maersk Drilling to Combine in $3.4 Billion Merger

November 10, 2021

Noble Corporation and Maersk Drilling have entered into a definitive business combination agreement to combine in a primarily all-stock transaction. Following the completion of the transaction, the Maersk Drilling shareholders and Noble shareholders will each own approximately 50 percent of

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Phillips 66 Refinery’s Closure Sparks Concerns Over Oil’s Future in Plaquemines Parish

November 10, 2021

The upcoming closure of a Plaquemines Parish oil refinery is leaving the surrounding community concerned for its future. Phillips 66 announced Monday afternoon it would turn its Alliance Refinery in Belle Chasse to a storage terminal next year. The conversion

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TC Energy Approves $800 Billion WR Project Expansion in Midwest

November 9, 2021

TC Energy Corporation has approved its WR Project, a set of projects anticipated to constitute a total capital investment of approximately US$8 billion. The project is designed to increase base system reliability and expand an existing portion of the ANR

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Former Energy Secretary Rick Perry Claims Biden’s Policies Could Lead to ‘Disaster’

November 9, 2021

Donald Trump’s former energy secretary on Sunday attacked the Biden administration’s energy policies, linking them to inflation and claiming that restrictions on the U.S. oil industry and rising costs at home could lead to “disaster.” Energy prices have leaped globally

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Colgate Energy Makes Strategic Bolt-on Acquisition of New Mexico Assets for $190 Million

November 8, 2021

Colgate Energy Partners III has entered into a definitive agreement with an undisclosed seller to purchase approximately 22,000 net acres directly offset Colgate’s existing position in Eddy and Lea Counties for $190 million. The closing is expected to occur in

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Shell Restores Production at Mars and Ursa Platforms, Gulf of Mexico

November 8, 2021

Shell Offshore, a subsidiary of Royal Dutch Shell, has safely and successfully re-started production at its Mars and Ursa platforms in the U.S. Gulf of Mexico and began exporting oil and gas through the West Delta-143 facility. “Our Hurricane Ida

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