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Oil Price War Will Challenge U.S. Shale, But Producers Will Be Able to Adapt
March 17, 2020
Financial struggles and even bankruptcies may blight US shale as the Russia-Saudi price war unfolds, but this “unconventional” sector will “adjust to the new reality”, according to an analyst. The US industry has been suggested as a target of Moscow’s
TC Energy to Acquire Pioneer Pipeline for $255 Million
March 16, 2020
TC Energy, through its wholly owned subsidiary NOVA Gas Transmission (NGTL), has signed a letter of intent with Tidewater Midstream and Infrastructure and TransAlta to purchase the Pioneer Pipeline for $255 million. Located within Alberta, the pipeline runs from west
Third Train of Freeport LNG Project Enters Final Commissioning Stage, Texas
March 16, 2020
McDermott International and its partners said that the third train of Freeport LNG Development’s Freeport LNG project on Quintana Island in Texas has entered into the final commissioning stage. The company said that the feed gas has been introduced into
Murphy Oil Cuts Capital Spending By 35% Amid Difficult Market Conditions
March 16, 2020
Murphy Oil has slashed his 2020 budget by nearly 35 percent or about $500 million to nearly $950 million citing the prevailing market conditions and the recent volatility in commodity price. The US-based oil and gas company previously allocated a
BJ Services, Aethon Enter Four-Year Contract for Next-Generation Natural Gas Fueled Fracturing Fleet
March 13, 2020
BJ Services has entered into a multi-year contract with Aethon Energy for the deployment of the company’s first TITAN™ next-generation fracturing fleet in the Haynesville shale. Powered by a direct drive natural gas-fueled turbine, the first TITAN prototype pump has
DOE Suspends Sale of Crude Oil from Strategic Petroleum Reserve
March 13, 2020
The U.S. Department of Energy (DOE) is suspending its recently announced sale of crude oil from the strategic petroleum reserve (SPR). “In light of the recent fluctuations in global oil markets, the U.S. Department of Energy is suspending the recently
Husky Energy Cuts 2020 Spending By $1 Billion
March 13, 2020
Husky Energy is taking a series of actions to fortify its business in response to challenging global market conditions. These initiatives reflect the company’s commitment to capital discipline, which includes maintaining the strength of its balance sheet while protecting value
Wynnchurch Capital Acquires Pennsylvania Machine Works
March 13, 2020
Wynnchurch Capital has acquired Pennsylvania Machine Works. Penn Machine is a fully integrated manufacturer of high pressure forged fittings and branch connections. Founded in 1931 and headquartered in Aston, Pennsylvania, Penn Machine has built a strong reputation for providing its
Energy Transfer Executes Suite of Gathering, Processing, Transportation and Fractionation Agreements
March 13, 2020
Energy Transfer has executed a suite of gathering, processing, transportation, and fractionation agreements with a large, investment grade integrated energy company. These agreements increase and extend long-term commitments between the energy company and Energy Transfer in the Eagle Ford and
BlackGold Completes Mineral Acquisitions in the Midland Basin, Texas
March 13, 2020
BlackGold Capital Management, a private investment firm focused on the energy industry, has acquired a diverse portfolio of mineral and royalty interests in the Midland Basin in West Texas. Financial terms of the transaction were not disclosed. BlackGold will receive
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