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BP Acquries Archaea Energy for $4.1 Billion
October 27, 2022
Archaea Energy has agreed to be acquired by bp for a total enterprise value of approximately $4.1 billion, including approximately $800 million of net debt. “Archaea was founded with a mission to build the world’s leading RNG development company to
Teck to Divest Stake in Fort Hills Oil Sands Project to Suncor for $737 Million, Canada
October 27, 2022
Teck Resources has agreed to divest its entire stake of 21.3 percent held in the operating Fort Hills oil sands project in Canada to Suncor Energy for a price of around CAD$1 billion ($737 million) in cash. The deal involves
TC Energy, 3 Rivers Energy to Develop $29.3M Renewable Natural Gas Production Facility, Tennessee
October 26, 2022
TC Energy Corporation said it will make a $29.3 million investment in a renewable natural gas (RNG) production facility near the Jack Daniel Distillery in Lynchburg, Tennessee. Owned by Lynchburg Renewable Fuels, the facility will produce RNG with a carbon
EIA Productivity Report Outlines Domestic Oil and Gas Production Activity
October 26, 2022
The U.S. Energy Information Administration (EIA) released its drilling productivity report. It indicates that November should break domestic oil and gas production records. With the current state of global affairs and energy concerns, coupled with OPEC’s recent announcement of cutting
Gulf Coast Midstream Launches Open Season for Natgas Storage Services
October 25, 2022
Houston-based Gulf Coast Midstream Partners (GCMP) has launched an open season for firm gas storage services at its Freeport Energy Storage & Sequestration Hub (FRESSH) under development near Freeport, Texas. The open season will commence November 3, 2022 and end
Schlumberger Rebrands to Become SLB
October 25, 2022
Schlumberger released its new name — SLB — underscoring the company’s vision for a decarbonized energy future and affirming its transformation from the world’s largest oilfield services company to a global technology company focused on driving energy innovation for a
Freeport LNG Plant to Require Full U.S. Approval Before Partial Restart
October 25, 2022
The second-largest U.S. liquefied natural gas export plant, idled for five months by a fire, must receive full approvals before a planned November restart can begin, regulator Pipeline Hazardous Materials and Safety Administration (PHMSA) said on Wednesday. Full approval adds
BOEM Announces Next Steps for Offshore Oil and Gas Lease Sales
October 21, 2022
The Bureau of Ocean Energy Management (BOEM) announced next steps for oil and gas leasing on the Outer Continental Shelf (OCS) to comply with provisions in the Inflation Reduction Act of 2022. These steps include a proposed sale for the
ExxonMobil to Sell Its Montana Refinery and Midstream Assets to Par Pacific to $310 Million
October 21, 2022
ExxonMobil and its affiliates have reached an agreement with Par Pacific Holdings for the sale of the Billings refinery and select midstream assets in Montana and Washington. The sale includes refinery, associated pipelines, and product terminals, along with Exxon- and
DOE to Release 15 Million Barrels of Crude Oil from the Strategic Petroleum Reserve
October 20, 2022
The U.S. Department of Energy’s (DOE) Office of Petroleum Reserves announced that a notice of sale of up to 15 million barrels of crude oil to be delivered from the Strategic Petroleum Reserve (SPR) in December 2022 will go live
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