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Phillips 66 to Cease Operations at Its Los Angeles-Area Refinery, California
December 6, 2024
Phillips 66 said it plans to cease operations at its Los Angeles-area refinery in the fourth quarter of 2025 and will work with the state of California to supply fuel markets and meet ongoing consumer demand. “We understand this decision
Shell and Equinor New JV to Create UK’s Largest Independent Oil and gas Company
December 5, 2024
Equinor UK Ltd and Shell U.K. Limited are to combine their UK offshore oil and gas assets and expertise to form a new company which will be the UK North Sea’s biggest independent producer. The incorporated joint venture (IJV) will
Crescent Energy to Acquire Ridgemar Energy’s Eagle Ford Assets for $905 Million
December 4, 2024
Crescent Energy has signed a definitive agreement to acquire Eagle Ford assets from Ridgemar Energy for upfront consideration of $905 million plus future oil price contingent consideration, subject to customary purchase price adjustments. The acquisition is directly offset Crescent’s core
EON Resources Enters $22.5 Million Funding Arrangement for Permian Well Completions
December 3, 2024
EON Resources has signed a non-binding letter of intent with Enstream Capital Management (ECM) for $22.5 million of well completion funding (WCF). The company anticipates using the WCF for the development of 45 wells using low-cost workovers on the company’s
Innovex Closes $104 Million Acquisition of Downhole Well Solutions
December 3, 2024
Innovex International has completed the acquisition of the remaining equity ownership of Downhole Well Solutions (DWS). Innovex will continue its successful partnership with DWS and its management team. Founded in 2019, DWS is a leading provider of proprietary drilling optimization
GeoPark Signs SPA to Acquire Repsol’s Colombian Assets for $530 Million
December 3, 2024
GeoPark Limited has signed sale and purchase agreements (SPAs) with Repsol to acquire Repsol’s upstream oil and gas assets in Colombia. The potential acquisition would incorporate high-quality assets located in the prolific Llanos Basin, one of Colombia’s most productive oil
DOE Commits to $7.54 Billion for Stellantis Venture to Build Electric Vehicle Battery Plants,Indiana
December 3, 2024
A Stellantis joint venture with Samsung SDI has won a commitment from the U.S. government for up to a $7.54 billion loan to help build two electric vehicle battery plants in Kokomo, Indiana. The project being built by StarPlus Energy
Equinor to Acquire EQT’s Northern Marcellus Formation for $1.25 Billion
December 2, 2024
Equinor has signed an agreement with EQT Corporation to acquire additional non-operated interest in the Northern Marcellus formation in the US. Equinor will pay $1.25 billion to EQT in the transaction. Under the agreement, Equinor is acquiring 100 percent of
Pantheon Resources Spuds Its Megrez-1 Well, Alaska
December 2, 2024
Pantheon Resources, an oil and gas company developing the Kodiak and Ahpun oil fields in close proximity to pipeline and transportation infrastructure on Alaska’s North Slope, has spuded its Megrez-1 well to explore the eastern topsets in the Ahpun field,
Orion Acquires SCOOP/STACK Interests of Oklahoma, Files a Provisional Patent
December 2, 2024
Orion Diversified Holding Co. has closed on an acquisition of a royalty interest in the SCOOP Stack of Garvin County, Oklahoma. The property consists of a 0.59 percent royalty interest in 170 acres with active drilling leases already permitted in
