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OPEC Crude Output Cuts Should Help U.S. Shale Profits in 2021
January 11, 2021
A decision by OPEC and allied countries to cut crude production through March delivered a late Christmas present for U.S. shale firms that have slashed costs, but any rise in prices spurred by the unexpected move may be just a
New Association Formed for Corrosion Control and Protective Coatings Industries
January 11, 2021
To create a unified voice for the corrosion control and protective coatings industries, a new association launched today at a global virtual event. The new organization, the Association for Materials Protection and Performance (AMPP), was formed by a merger between
Earthstone Energy Acquires Independence Resources Management for $182 Million
January 8, 2021
Earthstone Energy has completed the previously reported acquisition of Independence Resources Management (IRM). The aggregate purchase price for the acquisition was approximately $182.0 million, consisting of $131.2 million in cash consideration and approximately 12.7 million shares of Earthstone’s Class A
Double E Seeks U.S. Approval for Texas-New Mexico Natural Gas Pipeline
January 7, 2021
Double E Pipeline has asked U.S. energy regulators for permission to start building its natural gas pipeline project in Texas and New Mexico, a filing made available on Tuesday shows. According to its website, Double E is owned by units
Anvil and Smith-Cooper Acquires Forum Energy Technologies’ ABZ and Quadrant Valve Brands
January 7, 2021
Forum Energy Technologies has completed the sale of assets associated with its ABZ and Quadrant valve brands to Anvil and Smith-Cooper International. Total consideration for the transaction was $105 million in cash. As part of the transaction, Anvil and Smith-Cooper
Virginia’s Proposed Rules Cloud Startup of Mountain Valley Natural Gas Pipeline
January 7, 2021
Virginia environmental regulators have proposed stream-crossing rules that analysts say may delay startup of the Mountain Valley natural gas pipeline to 2022, but the companies involved said on Tuesday they were sticking with their late-2021 target. Natalie Cox, a spokeswoman
Texas and New Mexico to Offer 100+ Oil and Gas Leases in Online Auctions
January 6, 2021
EnergyNet will be hosting several online oil and gas lease sales in January of 2021. Two of the larger sales to be held include BLM New Mexico and the Texas General Land Office. The BLM New Mexico State Office will
U.S. Expands Oil Industry Access to Alaska National Petroleum Reserve
January 6, 2021
The Trump administration has made a final-hour move to increase the amount of land available for oil and gas leasing in the Alaska National Petroleum Reserve. The U.S. Bureau of Land Management confirmed it has finalized a new Integrated Activity
Liberty Oilfield Closes $448 Million Deal Buying Schlumberger’s OneStim Fracking Business
January 6, 2021
The Mile High City’s Liberty Oilfield Services and international oilfield powerhouse Schlumberger Limited announced an agreement in early September for the contribution of Schlumberger’s onshore hydraulic fracturing business in both the U.S. and Canada, called OneStim, in exchange for a
Houston Ship Channel Expansion Authorized by Congress
January 6, 2021
Congress has passed the 2020 Water Resources Development Act. The bill formally authorized the expansion of the Houston Ship Channel, which was recently ranked the #1 U.S. Port in total waterborne tonnage. The channel is the busiest waterway in the
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