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U.S. Drillers Cut Oil and Gas Rigs to Lowest Since February 2022
November 6, 2023
U.S. energy firms last week cut the number of oil and natural gas rigs operating to their lowest since February 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count,
Enterprise Focuses on Permian Growth Projects, Returns Seminole Pipeline to NGL Service
November 3, 2023
Enterprise Products Partners said it will focus on four new capital projects to support continuing production growth in the Permian Basin. The partnership also said it has begun initial steps to return the Seminole Pipeline, which has a capacity of
Permian Resources Completes $4.5 Billion Acquisition of Earthstone Energy
November 3, 2023
Permian Resources Corporation has completed its acquisition of Earthstone Energy. The transaction was previously approved by Permian Resources and Earthstone shareholders at special meetings held on October 30, 2023. “We are excited to complete this transaction and welcome the Earthstone
Chesapeake Inks Long-Term LNG Supply Agreement with Vitol
November 3, 2023
Chesapeake Energy and Vitol have entered into a heads of agreement (HOA) with Chesapeake Energy Marketing, a subsidiary of Chesapeake Energy Corporation. Under the HOA, Chesapeake will supply up to 1 million tonnes of LNG per annum to Vitol with
EIA: October Crude Production May Surpass U.S. Record Set in August
November 3, 2023
U.S. field production of crude oil rose to a new monthly record in August at 13.05 million barrels per day, the Energy Information Administration said on Tuesday. Output rose 0.7 percent in August from the month prior, the data showed.
Entergy Enters Agreement to Sell Its Gas Distribution Business to Bernhard Capital for $484 Million
November 2, 2023
Entergy has entered into an agreement to sell its gas distribution business to Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, for approximately $484 million in cash, subject to certain purchase price adjustments. Entergy Louisiana’s gas business
Schumer and Other Senate Democrats Call for Federal Probe of Huge Oil Deals by Exxon and Chevron
November 2, 2023
Senate Majority Leader Chuck Schumer and 22 other Democratic senators are urging federal regulators to investigate multibillion-dollar acquisitions by oil giants ExxonMobil and Chevron, saying the deals could lead to higher prices at the gas pump. In a letter Wednesday
W.Va. Senators Manchin, Capito Lay Out Benefits, Challenges for Appalachian Hydrogen Hub
November 2, 2023
U.S. Sens. Joe Manchin and Shelley Moore Capito are optimistic about the economic potential for the Appalachian Hydrogen Hub in West Virginia, but challenges remain. Manchin and Capito briefed the business community Wednesday morning in a Zoom call held by
NOV Announces Retirements, Reorganization of Operational Segments
November 2, 2023
NOV Inc. said Isaac Joseph, president of Wellbore Technologies, and Kirk Shelton, president of Completion and Production Solutions, will retire effective December 31, 2023. “I would like to thank both Isaac and Kirk for their many contributions to NOV throughout
Civitas Resources Adds Accretive Bolt-on in Permian Basin for $2.1 Billion
November 1, 2023
Civitas Resources signed an agreement with Vencer Energy, a Vitol investment, to acquire oil producing assets in the Midland Basin of west Texas for a total consideration of approximately $2.1 billion, subject to customary terms, conditions, and closing price adjustments.
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