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ConocoPhillips Promotes Tim Leach as Advisor to CEO
May 2, 2022
ConocoPhillips said Tim Leach, previously executive vice president, Lower 48, has become advisor to the chief executive officer. In addition to his new role, Leach will continue serving as a member of the company’s board of directors. In conjunction with
PetroRio to Acquire Petrobras’ Stake in Albacora Leste Field for $2.2 Billion, Offshore Brazil
May 2, 2022
PetroRio, through its subsidiary Petro Rio Jaguar Petróleo, has agreed to acquire a 90 percent operating stake in the producing Albacora Leste field, offshore Brazil, from Petróleo Brasileiro (Petrobras) for $2.2 billion. The remaining 10 percent stake in the field
Russia’s Gas Supply Cuts in Europe Could Fuel More U.S. Coal-to-Gas Switching
May 2, 2022
The U.S. power market may be in for another wave of coal-to-gas switching this summer as potential replacement fuel demand from Western Europe drives global coal prices higher. The price pressure could come following a recent but potentially extended suspension
Shell, Archaea Energy Take Early Steps Toward Underground Carbon Storage in Pennsylvania
May 2, 2022
Two companies, Shell and Archaea Energy, have met with state environmental regulators to discuss preliminary plans for developing Pennsylvania’s first wells to store carbon dioxide. Shell, which is preparing to begin operating its world-scale petrochemical plant in Beaver County this
SilverBow Resources to Acquire Sundance Energy and SandPoint Resources for $425 Million
April 29, 2022
SilverBow Resources, Inc. has entered into a definitive agreement to acquire substantially all of the assets of Sundance Energy and certain affiliated entities for a total purchase price of $354 million and up to $15 million of contingent payments based
Delek Logistics to Acquire 3Bear Energy’s Permian Basin Assets for $624.7 Million
April 29, 2022
Delek Logistics Partners has signed a definitive purchase agreement for the acquisition of 100 percent of the equity interests of 3Bear Delaware Holding, an indirect subsidiary of 3Bear Energy, related to 3Bear’s crude oil and gas gathering, processing, and transportation
ARM Energy Acquires NextEra Energy’s Monument Pipeline for $203 Million
April 29, 2022
ARM Energy Holdings, along with certain of its affiliates, various financial partners, and co-investors has acquired Monument Pipeline, a Houston-based natural gas pipeline, from affiliates of NextEra Energy Partners. Monument provides natural gas transportation and marketing services to end-users in
Oxy Partners with Weyerhaeuser for Carbon Capture Hub in Louisiana
April 29, 2022
Occidental’s Oxy Low Carbon Ventures (OLCV) subsidiary and Weyerhaeuser Company entered into an agreement for the evaluation and potential development of a carbon capture and sequestration project in Livingston Parish, Louisiana. The lease agreement provides OLCV with exclusive rights to
Nabors Invests in Ultra-Deep Geothermal Drilling Technology Innovator, GA Drilling
April 29, 2022
Nabors Industries Ltd. has added to its clean energy portfolio with a US$8 million investment in GA Drilling. This strategic investment expands Nabors’ commitment to deep-drilling technologies tapping super-hot, ultra-deep rock reservoirs. GA Drilling, a geothermal technology company with headquarters
PHX Minerals Acquires Chesapeake’s Haynesville Play for $4.3 Million, Louisiana
April 28, 2022
PHX Minerals has made a mineral and royalty acquisition targeting the Haynesville play in Louisiana. PHX has agreed to acquire approximately 477 net royalty acres located in three contiguous sections operated by Chesapeake for aggregate consideration of $4,300,000 in cash
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