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Greenfire Resources and M3-Brigade to Combine in $950 Million Deal
December 19, 2022
Greenfire Resources Inc. and M3-Brigade Acquisition III Corp. (MSBC) have entered into a definitive agreement for a business combination that values Greenfire at $950 million. The closing of the business combination is expected to occur in Q2 2023 and upon
HSBC to Stop Financing New Oil and Gas Fields, Continues to Finance Existing Oil and Gas Fields
December 19, 2022
HSBC has announced its decision to stop funding new oil and gas fields, as part of its strategy to support the reduction of greenhouse gas emissions. In addition, the lender will communicate with certain clients in this sector, about criteria
Southwest Gas Takes Strategic Actions to Simplify Company’s Portfolio
December 16, 2022
Southwest Gas Holdings said its board of directors unanimously determined to take strategic actions to simplify the company’s portfolio of businesses. These actions include entering into a definitive agreement to sell 100 percent of MountainWest Pipelines Holding Company to Williams
DOE Launches $3.7 Billion Funding Opp to Kick-Start America’s Carbon Dioxide Removal Industry
December 15, 2022
The U.S. Department of Energy (DOE), launched four programs that will help build a commercially viable, just, and responsible carbon dioxide removal industry in the United States. The programs, funded with $3.7 billion from Bipartisan Infrastructure Law, will help accelerate
Chevron and Baseload Capital Create Joint Venture to Explore Geothermal Development Opportunities
December 15, 2022
Chevron Corporation, through its Chevron New Energies business, and Baseload Capital have formed a joint venture to develop geothermal projects in the United States. The two companies will collaborate on driving geothermal opportunities — including identifying the best prospects for
Energy Veteran Rice’s SPAC to Take NET Power Public in $1.5 Billion Deal
December 15, 2022
A blank-check firm backed by energy industry veteran Daniel Rice will take clean energy producer NET Power public in a deal valued at $1.46 billion including debt. The deal by Rice Acquisition Corp II comes as U.S. renewable natural gas
DOE Funds Two Projects for $15 Million to Drive Down Costs of Geothermal Drilling
December 15, 2022
The U.S. Department of Energy (DOE) announced more than $15 million in funding for two projects that will reduce the cost of developing geothermal energy by generating at least a 25 percent improvement in geothermal drilling rates. DOE has set
Veritas to Acquire Verisk’s Energy Business Wood Mackenzie for $3.1 Billion
December 14, 2022
Verisk and Veritas Capital have signed a definitive agreement where an affiliate of Veritas has agreed to acquire Verisk’s Energy business, Wood Mackenzie, for $3.1 billion. Wood Mackenzie is a globally recognized industry leader that has been providing quality data,
EIG Launches LNG-Focused MidOcean Energy with $2.15 Billion Acquisition
December 14, 2022
MidOcean Energy, an LNG company formed and managed by EIG, has entered into a definitive agreement with Tokyo Gas Co., Ltd to acquire Tokyo Gas’ interests in a portfolio of four Australian integrated LNG projects. Under the terms of the
Shell Begins Operations at Polymers Plant in Pennsylvania
December 14, 2022
Shell Chemical Appalachia, a subsidiary of Shell, has commenced operations of its Pennsylvania Chemical project, Shell Polymers Monaca (SPM). The Pennsylvania facility is the first major polyethylene manufacturing complex in the Northeastern United States and has a designed output of
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