E&P Highlights: Nov. 4, 2024
Here’s a roundup of the latest E&P headlines, including a major development in Brazil coming online and a large contract in Saudi Arabia.
Proppant Suppliers Covia, Black Mountain Merge to Become Iron Oak Energy Solutions
Iron Oak Energy Solutions will supply proppant to E&P operations in basins across North America.
Exxon Plans Longest 20,000-Ft Wells on Pioneer’s Midland Asset
Exxon Mobil has already drilled some of the longest wells in the New Mexico Delaware Basin. Now, the Texas-based supermajor looks to go longer on Pioneer’s Midland Basin asset.
US Crude Oil Pipeline Squeeze Boosts Prices at Gulf Coast Export Hub
(Reuters) – The difference in prices for U.S. shale oil in West Texas and at Houston has widened in the last two months on dwindling pipeline space to move the crude to the export hub on the Gulf Coast, pricing data showed. Record crude production at the top U.S. oilfield in the Permian basin that …
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OPEC Oil Output Rises in October as Libyan Supply Rebounds, Survey Finds
(Reuters) – OPEC oil output rebounded in October from its lowest this year the previous month as Libya resolved a political crisis, a Reuters survey found, although a further Iraqi effort to meet its cuts pledged to the wider OPEC+ alliance limited the gain. The Organization of the Petroleum Exporting Countries pumped 26.33 million barrels …
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Glenfarne Selects Kiewit to Tackle EPC on Texas LNG
Glenfarne Energy Transition said Kiewit Energy Group will complete the engineering required to move Texas LNG toward a final investment decision.
Diamondback Swaps Delaware Assets, Pays $238MM For TRP’s Midland Assets
After closing a $26 billion acquisition of Endeavor Energy Resources, Diamondback Energy is getting deeper in the Midland Basin through an asset swap with TRP Energy.
Canada’s Completed TMX Pulling Crude Off of American-bound Pipelines
Trans Mountain completed work on the company’s namesake pipeline expansion on May 1. It was the end of a difficult and controversial pipeline project that started development in the 2010s under Kinder Morgan.
TC Energy Spinoff, Oxy Warn Shareholders of Unsolicited Mini-Tender Offer
South Bow and Occidental Petroleum said the offer from TRC Capital, which seeks to purchase up to 2 million and 3 million common shares respectively, is below both companies’ current market value.
Global Partners Closes on Liquids Terminal Deal with Exxon
Global Partners’ newly acquired Rhode Island liquids terminal adds gasoline infrastructure to its portfolio.