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ExxonMobil to Acquire Denbury in $4.9 Billion All-stock Deal
July 13, 2023
ExxonMobil has entered into a definitive agreement to acquire Denbury, an experienced developer of carbon capture, utilization and storage (CCS) solutions, and enhanced oil recovery. The acquisition is an all-stock transaction valued at $4.9 billion. “Acquiring Denbury reflects our determination
NextDecade Makes Positive Final Investment Decision on Rio Grande LNG Phase 1, Texas
July 13, 2023
NextDecade Corporation has made a positive final investment decision (FID) to construct the first three liquefaction trains (Phase 1) at the company’s 27 million tonnes per annum (MTPA) Rio Grande LNG (RGLNG) export facility in Brownsville, Texas. The $18.4 billion
Spire to Acquire CorEnergy’s MoGas and Omega Pipeline Systems for $175 Million
July 12, 2023
Spire Inc. has entered into an agreement to acquire MoGas Pipeline, an interstate natural gas pipeline, and Omega Pipeline (Omega), a connected gas distribution system, from CorEnergy Infrastructure Trust for $175 million, subject to customary working capital and other closing
Earthstone Energy to Acquire Novo Oil & Gas Holdings for $1.5 Billion
July 12, 2023
Earthstone Energy has entered into an agreement to acquire Novo Oil & Gas Holdings, a privately-held Delaware Basin focused E&P company backed by EnCap Investments for $1.5 billion. Concurrently, Northern Oil and Gas will acquire working interests equal to a
TotalEnergies to Sell 50% Stake in Surmont Oil Sands Asset to ConocoPhillips in $3.3 Billion Deal
July 12, 2023
ConocoPhillips has exercised its preemption right to purchase the remaining 50 percent interest in Surmont from TotalEnergies Canada Ltd. for approximately $3 billion (CAD$4 billion), subject to customary adjustments, as well as contingent payments of up to approximately $325 million
BCP Resources Acquires Chord Energy’s Permian Basin Producing Properties
July 12, 2023
BCP Resources has closed on the acquisition of assets from a wholly-owned subsidiary of Chord Energy Corporation that span 16 fields located in the Permian Basin of West Texas, most of which are on the Central Basin Platform. “These properties
EIA: Natural Gas Production in the Permian Region Established a New Record in 2022
July 12, 2023
Gross natural gas withdrawals in the Permian region set an annual record high in 2022 at 21.0 billion cubic feet per day (Bcf/d), 14 percent above the 2021 average, according to EIA’s Drilling Productivity Report. Annual gross natural gas production
New BLM Rule Curbs Oil Drilling, Mining Faces Widespread Opposition
July 11, 2023
A Biden administration proposal that would lock up federal land and block traditional uses of public land like energy development is facing stiff opposition from a wide range of stakeholders. In March, the Bureau of Land Management (BLM) unveiled federal
DOE Releases Notice of Intent and RFI to Support Regional Clean Hydrogen Hubs
July 11, 2023
The U.S. Department of Energy (DOE) released a notice of intent (NOI), which includes a request for information (RFI), to invest up to $1 billion in a demand-side initiative to support the Regional Clean Hydrogen Hubs (H2Hubs). The H2Hubs program
Wyoming Governor Gordon Elected Chair of WGA, Makes Carbon Capture His Initiative
July 11, 2023
At the close of the Western Governors’ Association (WGA) 2023 Annual Meeting, Governor Mark Gordon was elected by his fellow governors as chairman. As the new chair, Governor Gordon identified carbon capture utilization and sequestration (CCUS) as his chair’s initiative.
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