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Vital Energy to Acquire Forge’s Delaware Basin Assets for $540 Million
July 7, 2023
Vital Energy has signed a definitive joint purchase and sale agreement to acquire the assets of Forge Energy II Delaware, an EnCap portfolio company, further expanding the company’s Permian Basin focus and establishing a core operating position in the Delaware
Baytex Energy Closes $2.2 Billion Acquisition of Ranger Oil, Releases Updated Guidance for 2023
July 7, 2023
Baytex Energy Corp. has closed on its acquisition of Ranger Oil Corporation. “We are excited to close the Ranger acquisition, which materially increases our scale in the Eagle Ford while building quality operating capability in a premier basin. We have
Wyoming and Colorado Sign Direct Air Capture Memorandum of Understanding
July 7, 2023
The State of Wyoming and State of Colorado have signed a memorandum of understanding (MOU) regarding direct air capture (DAC) activity and development. The bipartisan inter-state agreement will focus on the DAC industry’s potential to complement existing and emerging industries
DOE Releases National Clean Hydrogen Strategy and Roadmap Report
July 7, 2023
The Department of Energy released the U.S. National Clean Hydrogen Strategy and Roadmap, a comprehensive framework for accelerating the production, processing, delivery, storage, and use of clean hydrogen — a versatile and flexible energy carrier that can be produced with
EPA and DOE to Fund More than $1 Billion to Reduce Methane Emissions from Oil and Gas Sector
July 6, 2023
The U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) entered into a partnership to provide more than $1 billion in funding to help reduce methane emissions from the oil and gas sector. This collaboration will leverage EPA
Patterson-UTI Energy to Acquire Global Drill Bit Company, Ulterra
July 6, 2023
Patterson-UTI Energy has entered into a definitive agreement to acquire Ulterra Drilling Technologies, a global provider of specialized drill bit solutions, for consideration of $370 million of cash and 34.9 million shares of Patterson-UTI common stock. “Both Patterson-UTI and Ulterra
SPG Expands Turbine Technology Partnership with Honeywell to Include Energy Services Market
July 6, 2023
Signal Power Group (SPG) has expanded its partnership with Honeywell to broaden the reach of Honeywell’s storied turboshaft turbine engine technology. The latest turboshaft technology, developed as part of Honeywell’s T55-714C program, expands the partnership to now include the energy
RPC Expands Its Oilfield Cementing Service Line with Acquisition of Spinnaker Oilwell Services
July 5, 2023
RPC, Inc. has acquired Spinnaker Oilwell Services, a leading provider of oilfield cementing services in the Permian and Mid-Continent basins. Spinnaker, headquartered in Oklahoma City, Oklahoma, operates two facilities located in El Reno, Oklahoma and Hobbs, New Mexico and maintains
Drilling Tools International Completes Business Combination with ROC Energy
July 5, 2023
Drilling Tools International Holdings has completed its business combination with ROC Energy Acquisition Corp. The combined company will operate under the name Drilling Tools International Corp. (DTI). The transaction was approved by ROC’s shareholders at a special meeting. More than
Riverbend Energy Acquires Williston Assets to Mark Rebuilding Campaign
July 5, 2023
Riverbend Energy Group, through certain of its affiliates, has acquired a sizeable non-operated working interest position in the core of the Williston Basin. The acquisition, along with other recent transactions, provides a high-quality, free cash flow positive non-operated asset base
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