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ONEOK and Magellan Midstream Partners Agree to Merge in Transaction Valued at $18.8 Billion
May 18, 2023
ONEOK, and Magellan Midstream Partners have executed a definitive merger agreement under which ONEOK will acquire all outstanding units of Magellan in a cash-and-stock transaction valued at approximately $18.8 billion including assumed debt, resulting in a combined company with a
Northern Oil and Gas, Vital Energy to Jointly Acquire Forge’s Assets for $540M, Delaware Basin
May 18, 2023
US-based Northern Oil and Gas (NOG) has signed a definitive agreement to acquire a 30 percent stake in certain assets of Forge Energy II Delaware, a portfolio company private equity firm EnCap, in partnership with Canadian oil and gas firm
House Committee on Natural Resources Asks DOI to Extend Comment Period on Land Management Rule
May 18, 2023
The House Committee on Natural Resources Chairman Bruce Westerman (R-Ark.) led a letter to U.S. Department of the Interior Secretary Deb Haaland, asking her to extend the comment period on a proposed land management rule until the agency has time
DOE to Purchase Three Million Barrels of Oil for the Strategic Petroleum Reserve
May 18, 2023
The Department of Energy (DOE) said it will purchase up to three million barrels of oil for the Strategic Petroleum Reserve (SPR) in continuation of the Biden-Harris Administration’s three-part replenishment plan. DOE issued a solicitation of sour crude oil to
NERC Releases Its 2023 Summer Reliability Assessment
May 18, 2023
EPA’s new Good Neighbor Plan could hurt reliability of the bulk power system as operators limit generation from coal and natural gas plants in order to comply with the rule’s tighter requirements, the North American Electric Reliability Corporation (NERC) said
Epsilon Energy Acquires Assets in Permian Basin, Texas
May 17, 2023
Epsilon Energy Ltd. reported an investment in Ector County, Texas with material follow-on development opportunities. Epsilon entered into a second drilling focused transaction in the Permian Basin. The acquired assets are a 25 percent working interest in 12,373 gross acres
Equinor and Partners Officially Open Upgraded Njord Field in Norwegian Sea
May 17, 2023
The Njord field in the Norwegian Sea was officially opened by the minister of petroleum and energy, Terje Aasland on May 15. The platform and the floating storage and offloading vessel (FSO) have undergone extensive upgrades and are now ready
Montrose Environmental Group Acquires GreenPath Energy of Canada
May 16, 2023
Montrose Environmental Group has acquired GreenPath Energy, a leading optical gas imaging and fugitive emissions management services firm in Canada. GreenPath’s leadership, including president Joshua Anhalt, will join Montrose and be integrated into the company’s measurement and analysis segment. Terms
TravelCenters of America Approves $1.3 Billion Acquisition by BP
May 16, 2023
TravelCenters (TA) of America said Wednesday that TA stockholders voted to approve TA’s acquisition by BP. Under the terms of the agreement, BP’s wholly-owned subsidiary will acquire all of the outstanding shares of TA common stock for $86 per share
Joseph Gorder to Retire as Valero’s CEO, Lane Riggs to Assume CEO Position
May 16, 2023
Valero Energy Corporation said Joseph Gorder, Valero’s chief executive officer and chairman of the board, has chosen to retire as CEO and has been elected as executive chairman of the board, both effective June 30, 2023. In his new role,
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