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ExxonMobil Closes $4.9 Billion Acquisition of Denbury
November 7, 2023
ExxonMobil Corporation has closed its acquisition of Denbury in an all-stock transaction valued at $4.9 billion. “This transaction is a major step forward in the profitable growth of our low carbon solutions business,” said Chairman and CEO Darren Woods. “Our
1PointFive and TD Securities Enter Direct Air Capture Carbon Removal Credits Deal
November 7, 2023
1PointFive and TD Securities entered into an agreement to purchase carbon dioxide removal (CDR) credits from STRATOS — 1PointFive’s first direct air capture (DAC) plant currently under construction in Texas. Under the terms of the agreement, and subject to STRATOS
Critics Warn that Biden’s Hydrogen Initiative Could Become Next Green Energy Boondoggle
November 7, 2023
Another spoke in President Joe Biden’s climate policy wheel is the production of hydrogen, which was referred to as a “key pillar of Bidenomics” in an announcement $7 billion in funding for hydrogen hubs across the country. Other troubled green
First Round of New North Sea Oil and Gas Licenses Awarded by UK Government
November 7, 2023
North Sea production received a significant boost on October 30 with the offer of 27 new licenses in areas prioritized because they have the potential to go into production more quickly than others. In addition to the 27 licenses, six
Offshore Wind Projects Face Economic Storm. Cancellations Jeopardize Biden Clean Energy Goals
November 7, 2023
The cancellation of two large offshore wind projects in New Jersey is the latest in a series of setbacks for the nascent U.S. offshore wind industry, jeopardizing the Biden administration’s goals of powering 10 million homes from towering ocean-based turbines
Gulf of Mexico Oil and Gas Lease Sale 261 Postponed Again, No New Dates Released
November 6, 2023
As a result of the order issued by the United States Court of Appeals for the Fifth Circuit on October 26, 2023, in Louisiana v. Haaland (Case No. 23-30666), the Bureau of Ocean Energy Management (BOEM) is postponing Lease Sale
Energy Transfer Completes Acquisition of Crestwood
November 6, 2023
Energy Transfer has completed its merger with Crestwood Equity Partners. The merger was approved by Crestwood unitholders on October 30, 2023. As a result of the acquisition, Energy Transfer now owns and operates more than 125,000 miles of pipelines and
U.S. Drillers Cut Oil and Gas Rigs to Lowest Since February 2022
November 6, 2023
U.S. energy firms last week cut the number of oil and natural gas rigs operating to their lowest since February 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count,
Enterprise Focuses on Permian Growth Projects, Returns Seminole Pipeline to NGL Service
November 3, 2023
Enterprise Products Partners said it will focus on four new capital projects to support continuing production growth in the Permian Basin. The partnership also said it has begun initial steps to return the Seminole Pipeline, which has a capacity of
Permian Resources Completes $4.5 Billion Acquisition of Earthstone Energy
November 3, 2023
Permian Resources Corporation has completed its acquisition of Earthstone Energy. The transaction was previously approved by Permian Resources and Earthstone shareholders at special meetings held on October 30, 2023. “We are excited to complete this transaction and welcome the Earthstone
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