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MPE Partners and Motor-Services Hugo Stamp Acquire Pacific Power Group
August 11, 2022
MPE Partners, along with portfolio company Motor-Services Hugo Stamp, Inc. (MSHS) has acquired Pacific Power Group (PPG). PPG is an industry leading provider of products, parts, and maintenance, repair, and overhaul (MRO) services for marine, energy, commercial, and industrial equipment.
ARC Energy Services Opens New Office in Ashland, Virginia
August 11, 2022
ARC Energy Services, the Veteran-owned specialty mechanical contracting company serving the power and process industries, has opened a new office in Ashland, Virginia, to accommodate growth and leverage the area’s diverse talent pool. “The decision to expand our presence into
Centrica Enters into $8.5B LNG Purchase Agreement from Delfin Deepwater Port, Louisiana
August 10, 2022
Centrica and Delfin Midstream have signed a heads of agreement to purchase 1.0 million tonnes per annum (MTPA) of liquefied natural gas for 15-years on a free on board (FOB) basis at the Delfin Deepwater Port, located 40 nautical miles
Devon Energy to Acquire Eagle Ford Operator Validus Energy for $1.8 Billion
August 9, 2022
Devon Energy has entered into a definitive purchase agreement to acquire Validus Energy, an Eagle Ford operator, for total cash consideration of $1.8 billion. The transaction is subject to customary terms and conditions and is expected to close at the
Cenovus to Acquire Remaining Stake in bp’s Toledo Refinery for $300M, Will Assume Operatorship, Ohio
August 9, 2022
Cenovus Energy has reached an agreement to purchase bp’s 50 percent interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other 50 percent of the refinery since its combination with Husky Energy in 2021. Cenovus’s U.S. operating
DOE Releases $32 Million FOA to Reduce Methane Emissions from Oil and Gas Sector
August 9, 2022
The U.S. Department of Energy (DOE) announced up to $32 million in funding toward the research and development of new monitoring, measurement, and mitigation technologies to help detect, quantify, and reduce methane emissions across oil and natural gas producing regions
Democrats’ Spending Bill Includes $20 Billion in New Energy Taxes that Will Drive Prices Higher
August 9, 2022
Democrats’ colossal spending package dubiously named the “Inflation Reduction Act” includes plans to spike energy prices with nearly $20 billion in new taxes. According to an analysis by the conservative fiscal group Americans for Tax Reform, the $750 billion-dollar bill
Shale Giant Chesapeake to Exit Oil as It Focuses on Natural Gas
August 8, 2022
Chesapeake Energy, which went through bankruptcy in 2020 when oil and gas prices crashed, said in its Q2 results released this week that it is solidifying its strategic focus on its gas assets while reducing its Eagle Ford position. Chesapeake
The Manchin/Schumer “Inflation Reduction Act of 2022” Will Inflate Fossil Energy Costs for Americans
August 8, 2022
Senator Joe Manchin’s about-face on the Build Back Better bill, now renamed the Inflation Reduction Act is getting accolades from some coal constituents as it restores a tax on coal to support the Black Lung Disability Trust Fund. Section 13901
Inflation Reduction Act: The Good, The Bad, and The Ugly
August 8, 2022
The Inflation Reduction Act that was dropped much to the surprise of just about everybody on Wednesday night is a mixed bag when it comes to provisions that could impact U.S. oil and natural gas development. At a time when
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