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BOEM Releases Proposed Rule Changes for Decommissioning Financial Requirements
June 30, 2023
The Bureau of Ocean Energy Management (BOEM) has released proposed changes to modernize financial assurance requirements for the offshore oil and gas industry to decommission offshore wells and infrastructure, once they are no longer in use. The proposed changes will
One Rock Energy Acquires Powder River Basin E&P Northwoods Energy
June 30, 2023
OneRock Energy Holdings has entered into a definitive purchase agreement to acquire Northwoods Management Company and certain related entities. Northwoods owns highly productive assets located in the Powder River Basin, producing approximately five thousand barrels of oil equivalent. The asset
Frontier Carbon Solutions Gets $40 Million DOE Grant For Carbon Storage Hub, Wyoming
June 30, 2023
Carbon capture, utilization, and sequestration (CCUS) project developer Frontier Carbon Solutions and the School of Energy Resources (SER) at the University of Wyoming have recently been granted $40.5 million under CarbonSAFE initiative of the U.S. Department of Energy (DOE) to
Denbury Expands Leading CO2 Sequestration Portfolio with Two New Sites in Louisiana
June 29, 2023
Denbury has formed a joint venture with Lapis Energy to design, implement, and operate a carbon dioxide sequestration project at Lapis Energy’s 14,000-acre site located in St. Charles Parish, Louisiana, approximately 20 miles west of New Orleans. Each party will
Oil Shippers on Canada’s Trans Mountain Expansion Dispute Pipeline Tolls
June 29, 2023
Oil shippers on the Trans Mountain expansion (TMX) project are challenging proposed pipeline tolls filed by Canadian government-owned Trans Mountain Corp. with regulators last month, citing concerns about significant costs increases. TMX will nearly triple the flow of crude from
CNX Resources Sells Non-core Appalachian Basin Assets for $125 Million
June 28, 2023
Natural gas producer CNX Resources Corp. will sell about $125 million in oil and gas assets to an unspecified third party, the Canonsburg-based company disclosed in a U.S. Securities and Exchange Commission filing. CNX didn’t disclose the location or the
DOE Launches $17M FOA for University-Led Projects Supporting Decarbonization, Net-Zero Emissions
June 28, 2023
The U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) has launched up to $17.7 million in funding available to support novel, early-stage research and development at eligible U.S. colleges and universities, including creating new academic
Biden Admin Eyes $5 Billion Fossil Fuel Build-out in Puerto Rico
June 28, 2023
The Army Corps of Engineers plans to spend up to $5 billion on fossil fuel power plants and infrastructure repairs in Puerto Rico, a move the agency says will improve the territory’s troubled electric grid but that critics warn could
Suncor Energy Cyberattack Could Prove ‘Sizable Incident,’ Security Expert Warns
June 28, 2023
Suncor Energy Inc. falling victim to a cyberattack may be the most significant cybersecurity breach of an oil and gas company thus far in Canadian history, experts say. The Calgary-based oil company has provided no details about the attack or
U.S. Set to Approve Record-high Volume of Export Capacity in First Half of 2023
June 27, 2023
Despite concerns about cost inflation, developers of LNG projects in the United States are set to approve a record-high volume of export capacity in the first half of 2023, driven by rising global LNG demand and increased long-term contracting from
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