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Patterson-UTI Energy Completes $780 Million Acquisition of Ulterra Drilling Technologies
August 18, 2023
Patterson-UTI Energy has completed the acquisition of Ulterra Drilling Technologies, a global provider of specialized drill bit solutions. Total consideration for the acquisition, on a cash-free, debt-free basis, included $370 million of cash and 34.9 million shares of Patterson-UTI common
PHX Minerals Rejects WhiteHawk Energy’s Merger Proposal in Scathing Letter
August 18, 2023
PHX Minerals confirmed that its board of directors previously received, thoroughly reviewed, and rejected an unsolicited, non-binding proposal from WhiteHawk Income Corporation to combine with PHX in a stock-for-stock transaction. “Our Board is committed to driving value for all stockholders
Edison Electric Institute Names Dan Brouillette President and CEO Elect
August 18, 2023
The Edison Electric Institute (EEI) said that Dan Brouillette has been selected as EEI’s president and chief executive officer elect, effective October 1, 2023. Brouillette will become EEI president and CEO on January 1, 2024, and will succeed Tom Kuhn,
FERC Approves EQT’s Acquisition of Tug Hill and XcL Midstream
August 17, 2023
EQT Corporation said the U.S. Federal Trade Commission has resolved its review of EQT’s agreement with THQ Appalachia (Tug Hill) and THQ-XcL Holdings (XcL Midstream) to acquire Tug Hill’s upstream assets and XcL Midstream’s gathering and processing assets pursuant to
Westbrook Energy Group Acquires Forged Components Inc.
August 17, 2023
Westbrook Energy Group has acquired Forged Components Inc. (FCI), a vertically integrated provider of high-quality forged, heat treated, and machined pressure control connection products for the downstream, midstream, upstream, LNG, marine, aerospace, and defense markets. FCI’s product portfolio along with
Energy Transfer to Acquire Crestwood in $7.1 Billion All-Equity Transaction
August 16, 2023
Energy Transfer and Crestwood Equity Partners have entered into a definitive merger agreement pursuant to which Energy Transfer will acquire Crestwood in an all-equity transaction valued at approximately $7.1 billion, including the assumption of $3.3 billion of debt, based on
Commonwealth LNG Secures Funding for FID on LNG Project, Louisiana
August 16, 2023
Commonwealth LNG said that it has secured the development funding needed to take a final investment decision (FID) on its namesake LNG export facility in Cameron, Louisiana. The company has closed a development capital investment from private funds overseen by
DOE to Launch Responsible Carbon Management Initiative, Seeking Public Input
August 16, 2023
The U.S. Department of Energy’s Office of Fossil Energy and Carbon Management (FECM) announced in the Federal Register its intent to launch a “Responsible Carbon Management Initiative.” The initiative aims to encourage and recognize project developers and others in industry
Chesapeake Energy to Sell Its Remaining Eagle Ford Assets to SilverBow for $700 Million
August 15, 2023
Chesapeake Energy Corporation has executed an agreement to sell its remaining Eagle Ford assets to SilverBow Resources for $700 million, bringing the total proceeds from its Eagle Ford exit to more than $3.5 billion. “We are pleased to have successfully
Environmental Groups Mount Legal Challenge to Alaska Gasline Development’s Export Approval
August 15, 2023
Two environmental groups on last week asked a federal appeals court to overturn the Biden administration’s approval of exports from Alaska’s yet-unbuilt project that would ship natural gas from the North Slope. The Sierra Club and Center for Biological Diversity
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