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Apache Unveils $555 Million Acquisition of Texas Delaware Basin Properties
October 19, 2022
APA Corp. unveiled a $505 million acquisition in the Permian Basin in its earnings release on Aug. 3 where the Houston-based company reported second-quarter profit that nearly tripled. Apache Corp, a subsidiary of APA, entered into a transaction during the
Magnolia Oil & Gas Appoints Christopher Stavros as CEO, Stephen Chazen Steps Down for Health Reasons
October 19, 2022
Magnolia Oil & Gas Corporation said Christopher Stavros, the company’s current executive vice president and chief financial officer, has been named president and chief executive officer, and has been appointed to the board of directors, effective immediately. Stephen Chazen, who
Continental Resources Enters Definitive $4.3 Billion Agreement to Be Acquired by the Hamm Family
October 18, 2022
Oil tycoon Harold Hamm is taking private the company he founded, Continental Resources, in a deal that values the independent oil producer at $27 billion. Hamm’s Omega Acquisition entered into an agreement Monday to buy all remaining outstanding shares of
OPEC+ Members Endorse Output Cut After U.S. Coercion Accusation
October 18, 2022
OPEC+ member states lined up on Sunday to endorse the steep cut to its output target agreed this month after the White House, stepping up a war of words with Saudi Arabia, accused Riyadh of coercing some other nations into
Southern Rock Energy to Finalize Location of Its Next Generation, Full Conversion Crude Refinery
October 17, 2022
Prairie Energy Partners, a wholly owned company of Southern Rock Energy Partners, is working to finalize the location of its proposed $5.56 billion and 423-job next-generation, full conversion crude refinery — with the final two competing sites in Victoria County,
Crusoe Energy Systems Acquires Great American Mining
October 17, 2022
Crusoe Energy Systems has acquired the operating assets of Great American Mining (GAM). The acquisition accelerates Crusoe’s Digital Flare Mitigation® (DFM) business through additional scale and customer relationships while enabling Crusoe to more efficiently reduce the impact of natural gas
U.S. Drillers Add Oil and Gas Rigs for Fourth Time in Five Weeks
October 17, 2022
U.S. energy firms last week added oil and natural gas rigs for the fourth time in five weeks as production growth slows despite relatively high oil prices. The oil and gas rig count, an early indicator of future output, rose
Northern Oil and Gas Acquires Another Northern Delaware Basin Bolt-On for $130 Million
October 14, 2022
Northern Oil and Gas has entered into a definitive agreement to acquire certain non-operated interests in the Delaware Basin from a private seller for a purchase price of $130 million in cash, subject to typical closing adjustments. The acquired assets
ExxonMobil, CF Industries, Enlink Enter Landmark Deal for Louisiana Carbon Capture Project
October 14, 2022
CF Industries, a leading global manufacturer of hydrogen and nitrogen products, has entered into the largest-of-its-kind commercial agreement with ExxonMobil to capture and permanently store up to 2 million metric tons of CO2 emissions annually from its manufacturing complex in
OPEC Cuts 2022, 2023 Oil Demand Growth View as Economy Slows
October 14, 2022
OPEC on Wednesday cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year’s figure, citing slowing economies, the resurgence of China’s COVID-19 containment measures and high inflation. Oil demand
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