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ExxonMobil to Divest Stake in Esso Thailand to Bangchak for $603 Million
January 12, 2023
ExxonMobil has agreed to sell the stake of 65.99 percent held by its affiliate ExxonMobil Asia in Esso Thailand to Bangchak (BCP) for $603 million. Esso Thailand is an integrated petroleum refining, petrochemical, and marketing firm in Thailand. The deal
Biden Admin Quietly Admits Canceling Keystone XL Pipeline Cost Thousands of Jobs,Billions of Dollars
January 9, 2023
The Biden administration published a congressionally mandated report highlighting the positive economic benefits the Keystone XL Pipeline would have had if President Biden didn’t revoke its federal permits. The report, which the Department of Energy (DOE) completed in late December
U.S. Drillers Cut Most Rigs in a Week Since September 2021
January 9, 2023
U.S. energy firms this week cut seven oil and natural gas rigs in their biggest weekly decline since September 2021, energy services firm Baker Hughes Co said in its closely followed report on Friday. The U.S. oil and gas rig
MSA Safety Divests Its Subsidiary Holding Legacy Liabilities
January 9, 2023
Global safety equipment manufacturer MSA Safety has divested a wholly owned subsidiary that holds legacy product liability claims relating to coal dust, asbestos, silica, and other exposures, to a joint venture between R&Q Insurance Holdings and Obra Capital. In connection
Williams to Acquire MountainWest Pipeline System from Southwest Gas for $1.5 Billion
January 6, 2023
Williams has reached an agreement to acquire MountainWest Pipelines Holding Company from Southwest Gas Holdings in a transaction including $1.07 billion of cash and $0.43 billion of assumed debt, for an enterprise value of $1.5 billion. MountainWest comprises roughly 2,000-miles
Tallgrass to Acquire Ruby Pipeline for $282.5 Million
January 6, 2023
Tallgrass has entered into an agreement to acquire the Ruby Pipeline. The acquisition of this asset provides access to established markets, an additional ~1.5 bcf/d of natural gas capacity to the company’s portfolio and immediate and strong cash flow to
Air Products, AES to Invest $4B to Build First Mega-scale Green Hydrogen Production Facility, Texas
January 6, 2023
Air Products and AES Corporation said they plan to invest approximately $4 billion to build, own, and operate a green hydrogen production facility in Wilbarger County, Texas. This mega-scale renewable power to hydrogen project includes approximately 1.4 gigawatts (GW) of
Diamondback Energy to Acquire Lario Permian for $1.55 Billion
January 6, 2023
Diamondback Energy has entered into a definitive purchase agreement to acquire all leasehold interest and related assets of Lario Permian, a wholly owned subsidiary of Lario Oil & Gas Company, and certain associated sellers in exchange for 4.18 million shares
Trinity Gas Storage Closes Financing for Natural Gas Storage Facility in Texas
January 5, 2023
Trinity Gas Storage has closed financing by Transition Equity Partners (TEP) to advance the development of Trinity Gas Storage, a greenfield natural gas storage facility in East Texas. TEP’s investment will provide Trinity with the capital required to finalize engineering,
Transocean Wins Contracts and Extensions Worth $488 Million for Five Drilling Rigs
January 5, 2023
Transocean Ltd. has secured contract awards or extensions for five of its drilling rigs. Together, the fixtures represent approximately $488 million of firm backlog. Deepwater Invictus, an ultra-deepwater drillship, was awarded a new three-well contract with an estimated 100-day duration
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