Oil, Gas and Shale
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UGI to Fund More than $70M in Renewable Natural Gas Projects from MBL Bioenergy, South Dakota

May 23, 2022

Efforts by MBL Bioenergy to develop a set of renewable natural gas (RNG) projects in South Dakota solidified this week through a new agreement with UGI Energy Services (UGIES), the result of which will see UGI fully fund these efforts

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Rio Tinto and bp Sign One-year Trial of Marine Biofuels

May 23, 2022

Rio Tinto and bp have agreed to work together on a one-year biofuel trial to help reduce carbon emissions from Rio Tinto’s marine fleet. Under the trial, bp is supplying Rio Tinto with marine biofuel for approximately 12 months. The

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Matterhorn Express Pipeline Reaches Final Investment Decision, Moves Forward With Construction

May 20, 2022

WhiteWater, EnLink Midstream, Devon Energy, and MPLX have reached a final investment decision to move forward with the construction of the Matterhorn Express Pipeline after having secured sufficient firm transportation agreements with shippers. The Matterhorn Express Pipeline has been designed

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Centennial and Colgate Energy Combine to Create $7 Billion Permian Basin Producer

May 20, 2022

Centennial Resource Development and Colgate Energy Partners have agreed to a merger of equals, the companies said on Thursday, creating a $7 billion Permian Basin-focused U.S. oil and gas producer. The deal comes when global crude prices have surged following

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DOE Allocates $25 Million to Study Advanced Clean Hydrogen Technologies for Electricity Generation

May 20, 2022

The U.S. Department of Energy (DOE) announced $24.9 million in funding for six research and development projects to support the advancement of clean hydrogen for electricity generation. DOE will partner with private companies to research advanced technology solutions that could

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Chevron and TotalEnergies Sanction $1.6 Billion Ballymore Project, Gulf of Mexico

May 19, 2022

Chevron Corporation has sanctioned the Ballymore project in the deepwater U.S. Gulf of Mexico. The project, with a design capacity of 75,000 barrels of crude oil per day, will be developed as a three-mile subsea tieback to the existing Chevron-operated

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Helix Energy Solutions to Acquire Alliance Companies in Gulf of Mexico for $120 Million

May 18, 2022

Helix Energy Solutions Group has entered into a definitive agreement to acquire 100 percent of the equity interests of the Alliance group of companies for $120 million cash at closing, plus the potential for post-closing earnout consideration. Alliance is a

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Chevron Launches Carbon Capture and Storage Project in San Joaquin Valley, California

May 18, 2022

Chevron U.S.A. Inc., through its Chevron New Energies division, is launching a carbon capture and storage (CCS) project aimed at reducing the carbon intensity of its operations in San Joaquin Valley, California. Chevron aims to reduce its carbon intensity —

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Grey Rock and ENPC Sign $1.3 Billion Merger Deal to Create Granite Ridge Resources

May 17, 2022

Grey Rock Investment Partners and Executive Network Partnering Corporation (ENPC) have entered into a definitive agreement to complete a $1.3 billion business combination resulting in the formation of Granite Ridge Resources, Inc. Subject to approval by the ENPC stockholders and

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EIA: Permian Oil Output Forecast to Hit Record High in June

May 17, 2022

Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 88,000 barrels per day (bpd) to a record 5.219 million bpd in June, the U.S. Energy Information Administration (EIA) said

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