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U.S. Drillers Cut Most Oil Rigs in a Week Since September 2021
May 22, 2023
U.S. energy firms last week cut 11 oil rigs, the most in a week since September 2021, energy services firm Baker Hughes said in its closely followed report on Friday. That follows last week’s cut of 17 natural gas rigs,
FireBird Energy II Secures $500 Million Commitment with Quantum in the Permian Basin
May 19, 2023
FireBird Energy II said company has secured equity commitments in excess of $500 million anchored by funds managed by Quantum Energy Partners. The founders and employees of FireBird II, along with other strategic partners, are making significant equity commitments to
NGL Energy Partners Signs Agreements to Sell Its Marine Assets for $111.65 Million
May 19, 2023
NGL Energy Partners has signed two definitive agreements to sell all of its marine assets for $111.65 million in cash in the aggregate. NGL provided waterborne transportation of refined products and crude oil for a diversified group of customers which
Crescent Point Energy to Acquire Spartan Delta’s Montney Assets for $1.7 Billion
May 19, 2023
Crescent Point Energy has entered into an agreement with Spartan Delta Corp. to acquire Spartan’s oil and liquids-rich Montney assets in Alberta for $1.7 billion in cash. “Over the past five years, we have fundamentally rebuilt and strengthened Crescent Point.
Callon Petroleum Appoints Russell Parker as Senior Vice President and COO
May 19, 2023
Callon Petroleum Company said Russell Parker will join the company as senior vice president and chief operating officer in late June. Parker will succeed Dr. Jeff Balmer who plans to retire upon his successor’s appointment. Russell Parker is an experienced
Devon Energy Invests $10 Million in Enhanced Geothermal Firm Fervo Energy
May 19, 2023
Devon Energy Corporation has made a $10 million strategic investment in Fervo Energy, the next-generation leader in geothermal technology. The investment initiates a partnership between two technical leaders and applies Devon’s 50-plus years of innovation in oil and gas to
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
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