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Genesis Energy Divests Stake in Cameron Highway Oil Pipeline System for $418 Million
November 19, 2021
Genesis Energy has closed on the sale of a 36 percent minority equity interest in its Cameron Highway Oil Pipeline System (CHOPS) to an undisclosed financial party at an 8/8ths valuation of $1.16 billion, which results in gross proceeds to
ExxonMobil Lays Groundwork for Carbon Storage Project at Offshore Auction
November 19, 2021
ExxonMobil on Wednesday offered to lease 500,000 acres off the Texas coast, securing space for what could become a massive project to capture and store carbon emissions. Under pressure by investors to address climate change, Exxon in April floated an
XENDEE and a Department of Energy National Laboratory to Test Microgrid Control System
November 19, 2021
As part of a U.S. Department of Energy (DOE) funded Distributed Energy Resource Management System (DERMS) project, XENDEE Corporation and a DOE national laboratory have selected a secure location to test their Model Predictive Control System. The Positronix™ Model Predictive
PCT, Nano Gas Technologies Unveil Patent-Pending Technology Set to Change the Oil and Gas Industry
November 19, 2021
PCT Ltd. and Nano Gas™ Technologies have launched a joint patent-pending technology that has been designed to provide an eco-friendly solution for the oil and gas industry. Testing has been ongoing for many months using PCT’s Catholyte with excellent results
Chevron, Exxon Among Top Spenders at Federal Auction of Oil Leases in the U.S. Gulf of Mexico
November 18, 2021
U.S. oil majors Exxon Mobil Corp and Chevron Corp were among the top buyers at a federal auction of oil leases in the U.S. Gulf of Mexico on Wednesday that generated more than $190 million - the highest since 2019.
U.S. Asks Japan, China, Others to Consider Tapping Oil Reserves
November 18, 2021
The Biden administration has asked some of the world’s largest oil consuming nations — including China, India and Japan — to consider releasing crude stockpiles in a coordinated effort to lower global energy prices, according to several people familiar with
IHS Markit: Banning Exports of US Crude Oil Would Likely Raise Gasoline Prices, Not Lower Them
November 18, 2021
Instituting a ban on U.S. crude exports has currently been put forward for consideration as a “tool” to alleviate rising U.S. gasoline prices — average price in October up 36 percent from a year ago. This is one of the
Utica Shale Still Putting a Lot of Gas Into Transmission Lines, Ohio
November 18, 2021
Horizontal drilling in the Utica Shale has been going on in Ohio for ten years. And despite some hiccups from COVID and up-and-down commodity prices, the 3500 operating wells are still producing incredible amounts of natural gas. For August, the
Northern Oil and Gas to Acquire Veritas’ Permian Basin Assets for $406.5 Million
November 17, 2021
Northern Oil and Gas has agreed to acquire substantially all of the non-operated Permian Basin assets owned by certain entities affiliated with Veritas Energy. Northern has entered into a definitive agreement to acquire non-operated oil and gas properties located in
EnCap Flatrock’s Ironwood and Nuevo Midstream Combine Eagle Ford Assets
November 17, 2021
Ironwood Midstream Energy Partners II has significantly expanded its crude oil midstream footprint in the Eagle Ford Shale as a result of an asset combination with Nuevo Midstream Dos. Ironwood II and Nuevo are both financially backed by EnCap Flatrock
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