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EPA and DOE to Fund More than $1 Billion to Reduce Methane Emissions from Oil and Gas Sector
July 6, 2023
The U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) entered into a partnership to provide more than $1 billion in funding to help reduce methane emissions from the oil and gas sector. This collaboration will leverage EPA
Patterson-UTI Energy to Acquire Global Drill Bit Company, Ulterra
July 6, 2023
Patterson-UTI Energy has entered into a definitive agreement to acquire Ulterra Drilling Technologies, a global provider of specialized drill bit solutions, for consideration of $370 million of cash and 34.9 million shares of Patterson-UTI common stock. “Both Patterson-UTI and Ulterra
SPG Expands Turbine Technology Partnership with Honeywell to Include Energy Services Market
July 6, 2023
Signal Power Group (SPG) has expanded its partnership with Honeywell to broaden the reach of Honeywell’s storied turboshaft turbine engine technology. The latest turboshaft technology, developed as part of Honeywell’s T55-714C program, expands the partnership to now include the energy
RPC Expands Its Oilfield Cementing Service Line with Acquisition of Spinnaker Oilwell Services
July 5, 2023
RPC, Inc. has acquired Spinnaker Oilwell Services, a leading provider of oilfield cementing services in the Permian and Mid-Continent basins. Spinnaker, headquartered in Oklahoma City, Oklahoma, operates two facilities located in El Reno, Oklahoma and Hobbs, New Mexico and maintains
Drilling Tools International Completes Business Combination with ROC Energy
July 5, 2023
Drilling Tools International Holdings has completed its business combination with ROC Energy Acquisition Corp. The combined company will operate under the name Drilling Tools International Corp. (DTI). The transaction was approved by ROC’s shareholders at a special meeting. More than
Riverbend Energy Acquires Williston Assets to Mark Rebuilding Campaign
July 5, 2023
Riverbend Energy Group, through certain of its affiliates, has acquired a sizeable non-operated working interest position in the core of the Williston Basin. The acquisition, along with other recent transactions, provides a high-quality, free cash flow positive non-operated asset base
Happy Independence Day!
July 3, 2023
It’s Independence Day! In the midst of all the barbeques, firecrackers, and concerts, take a moment to honor the men and women who fought and fight for the freedom that we’re celebrating. And in the spirit of pride and unity,
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
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