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Third Train of Freeport LNG Project Enters Final Commissioning Stage, Texas
March 16, 2020
McDermott International and its partners said that the third train of Freeport LNG Development’s Freeport LNG project on Quintana Island in Texas has entered into the final commissioning stage. The company said that the feed gas has been introduced into
Murphy Oil Cuts Capital Spending By 35% Amid Difficult Market Conditions
March 16, 2020
Murphy Oil has slashed his 2020 budget by nearly 35 percent or about $500 million to nearly $950 million citing the prevailing market conditions and the recent volatility in commodity price. The US-based oil and gas company previously allocated a
BJ Services, Aethon Enter Four-Year Contract for Next-Generation Natural Gas Fueled Fracturing Fleet
March 13, 2020
BJ Services has entered into a multi-year contract with Aethon Energy for the deployment of the company’s first TITAN™ next-generation fracturing fleet in the Haynesville shale. Powered by a direct drive natural gas-fueled turbine, the first TITAN prototype pump has
DOE Suspends Sale of Crude Oil from Strategic Petroleum Reserve
March 13, 2020
The U.S. Department of Energy (DOE) is suspending its recently announced sale of crude oil from the strategic petroleum reserve (SPR). “In light of the recent fluctuations in global oil markets, the U.S. Department of Energy is suspending the recently
Husky Energy Cuts 2020 Spending By $1 Billion
March 13, 2020
Husky Energy is taking a series of actions to fortify its business in response to challenging global market conditions. These initiatives reflect the company’s commitment to capital discipline, which includes maintaining the strength of its balance sheet while protecting value
Wynnchurch Capital Acquires Pennsylvania Machine Works
March 13, 2020
Wynnchurch Capital has acquired Pennsylvania Machine Works. Penn Machine is a fully integrated manufacturer of high pressure forged fittings and branch connections. Founded in 1931 and headquartered in Aston, Pennsylvania, Penn Machine has built a strong reputation for providing its
Energy Transfer Executes Suite of Gathering, Processing, Transportation and Fractionation Agreements
March 13, 2020
Energy Transfer has executed a suite of gathering, processing, transportation, and fractionation agreements with a large, investment grade integrated energy company. These agreements increase and extend long-term commitments between the energy company and Energy Transfer in the Eagle Ford and
BlackGold Completes Mineral Acquisitions in the Midland Basin, Texas
March 13, 2020
BlackGold Capital Management, a private investment firm focused on the energy industry, has acquired a diverse portfolio of mineral and royalty interests in the Midland Basin in West Texas. Financial terms of the transaction were not disclosed. BlackGold will receive
AGDC Secures Final EIS from FERC for Its $45 Billion Alaska LNG Project
March 12, 2020
The $45 billion Alaska LNG Project proposed to be developed by the Alaska Gasline Development Corporation (AGDC) has been issued a final environmental impact statement (EIS) from the staff of the Federal Energy Regulatory Commission (FERC). The FERC staff concluded
Basic Energy Services Acquires NexTier’s Well Services Business for $94 Million
March 12, 2020
Wellsite services company Basic Energy Services has purchased NexTier’s well services business for around $94 million. NexTier production operations, known as C&J Well Services, is claimed to be the third largest rig servicing provider in the US. Originally formed by
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