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TotalEnergies to Sell 50% Stake in Surmont Oil Sands Asset to ConocoPhillips in $3.3 Billion Deal
July 12, 2023
ConocoPhillips has exercised its preemption right to purchase the remaining 50 percent interest in Surmont from TotalEnergies Canada Ltd. for approximately $3 billion (CAD$4 billion), subject to customary adjustments, as well as contingent payments of up to approximately $325 million
BCP Resources Acquires Chord Energy’s Permian Basin Producing Properties
July 12, 2023
BCP Resources has closed on the acquisition of assets from a wholly-owned subsidiary of Chord Energy Corporation that span 16 fields located in the Permian Basin of West Texas, most of which are on the Central Basin Platform. “These properties
EIA: Natural Gas Production in the Permian Region Established a New Record in 2022
July 12, 2023
Gross natural gas withdrawals in the Permian region set an annual record high in 2022 at 21.0 billion cubic feet per day (Bcf/d), 14 percent above the 2021 average, according to EIA’s Drilling Productivity Report. Annual gross natural gas production
New BLM Rule Curbs Oil Drilling, Mining Faces Widespread Opposition
July 11, 2023
A Biden administration proposal that would lock up federal land and block traditional uses of public land like energy development is facing stiff opposition from a wide range of stakeholders. In March, the Bureau of Land Management (BLM) unveiled federal
DOE Releases Notice of Intent and RFI to Support Regional Clean Hydrogen Hubs
July 11, 2023
The U.S. Department of Energy (DOE) released a notice of intent (NOI), which includes a request for information (RFI), to invest up to $1 billion in a demand-side initiative to support the Regional Clean Hydrogen Hubs (H2Hubs). The H2Hubs program
Wyoming Governor Gordon Elected Chair of WGA, Makes Carbon Capture His Initiative
July 11, 2023
At the close of the Western Governors’ Association (WGA) 2023 Annual Meeting, Governor Mark Gordon was elected by his fellow governors as chairman. As the new chair, Governor Gordon identified carbon capture utilization and sequestration (CCUS) as his chair’s initiative.
Berkshire Hathaway Snaps Up Dominion’s Stake in Cove Point LNG for $3.3 Billion
July 10, 2023
Warren Buffett’s Berkshire Hathaway Energy has agreed to acquire Dominion Energy’s 50 percent limited partnership stake in the Cove Point LNG business on the U.S. eastern seaboard. The transaction is valued at $3.3 billion. Upon closing, Berkshire Hathaway Energy will
Baker Hughes to Supply 3 Liquefaction Trains for NextDecade’s Rio Grande LNG Project, Texas
July 10, 2023
Baker Hughes has been awarded an order by Bechtel Energy — to be booked in the second quarter of 2023 — to supply three main refrigerant compressors (MRCs) for NextDecade’s Rio Grande LNG project in the Port of Brownsville, Texas.
Report: Assessment of Net Zero Scenario, ESG, Cessation of Investment in New Oil and Gas Fields
July 10, 2023
Energy Policy Research Foundation has released their report, A Critical Assessment of the IEA’s Net Zero Scenario, ESG, and the Cessation of Investment in New Oil and Gas Fields. In this report, they have assessed the likely economic impact of
EPA Racing to Spend $27 Billion the GOP Wants to Repeal
July 10, 2023
It’s an open secret in Washington: The Biden administration is rushing to spend billions of dollars in the Democrats’ climate law before January 2025, when a future Republican-controlled Congress or administration could claw back the money. Yet little-noticed language in
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