ProPetro to Provide eFrac Services to Exxon’s Permian Operations
ProPetro has entered a three-year agreement to provide electric hydraulic fracturing services for Exxon Mobil’s operations in the Permian Basin.
U.S. Natgas Flows Rise to 3-Week High as Texas Freeport Pulls in More Fuel – LSEG
The amount of natural gas flowing to the seven U.S. liquefied natural gas (LNG) export plants was on track to rise by about 5% to a three-week high on Monday as Freeport LNG in Texas started to pull in more feedgas, data from financial firm LSEG showed. The startup and shutdown of Freeport and other …
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Kosmos Energy’s RBL Increased, Maturity Date Extended
Kosmos Energy’s reserve-based lending facility’s size has been increased by about 8% to $1.35 billion from $1.25 billion, with current commitments of approximately $1.2 billion.
Phoenix Capital Group Acquires Uinta Basin Royalty Interests
Phoenix Capital Group’s acquisition of 1,500 net royalty acres in Duchesne County, Utah, brings the company’s investment in the Uinta Basin to more than $60 million, the company said.
Hedge Funds Retreat from Oil as War Risk Fades: Kemp
Hedge funds and other money managers sold the equivalent of 95 MMbbl in the six most important petroleum futures and options contracts over the seven days ending on April 23.
G7 Reaches Deal to Exit from Coal by 2035
The accord will be included in the G7 energy ministers’ final communique to be released on April 30.
Unthinkable Revival of Nuclear Plants Is a Reality in U.S. Shift
A month after the US offered $1.5 billion to restart one shuttered nuclear power plant, there’s a growing sense among officials in the industry and government that it may not be the last. “There are a couple of nuclear power plants that we probably should, and can, turn back on,” said Jigar Shah, director of the US Energy …
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Biden Strategy to Tame Gas Prices Is in Peril as Iran Sanctions Pressure Mounts
The cost of gas at the pump is already up 18% this year, but Congress is urging tougher sanctions enforcement. With only six months to go before the election, President Joe Biden’s strategy to lower gasoline prices is in jeopardy. The administration’s soft approach to sanctions on oil from Iran, Russia and Venezuela has been key …
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Next U.S. LNG Export Plant Aims to Begin Production in Mid-2024
Plaquemines requests to import cargoes for start-up process The US became the world’s top LNG exporter last year Venture Global LNG Inc. expects to begin production at its second liquefied natural gas export facility in Louisiana in mid-2024, further cementing to the US as the world’s biggest supplier of the super-chilled fuel. The Arlington, Virgina-based …
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Shell Earns $1 Billion a Year From U.S. Crude Trading, Court Filing shows
(Reuters) – Financial details of Shell’s vast oil and gas trading business are some of the company’s closest-held secrets. Documents in a lawsuit filed by a former employee, however, revealed its U.S. crude trading regularly earns around $1 billion every year. Testimony by a former head of Shell’s U.S. crude trading division filed in a Texas …
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