CNX Lowers Utica Costs, Targets Marcellus Co-Development
With drilling times nearly halved since 2023, CNX is making deep Utica gas more competitive. The company is testing Marcellus co-development as it eyes broader stacked pay expansion.
Crescent Midstream Sues Contractor Over 2024 Louisiana Oil Spill
Crescent Midstream is seeking $1 million from EverLine Tech Ops for allegedly failing to monitor a tank that leaked into a nearby bayou last year.
Looming Oil Price Weakness Clouds OFS Giants’ Outlook
OFS giants SLB, Halliburton and Baker Hughes reported strong 2Q earnings but are wary of looming 4Q oil price weakness.
Baker Hughes Bets on LNG, Data Center Demand With $13.6 Billion Chart Industries Deal
By Tanay Dhumal Baker outbids Flowserve to buy Chart Baker offers $210/shr, about 22% premium Expects $325 million in annual cost synergies in third year July 29 (Reuters) – Oilfield services firm Baker Hughes (BKR.O) said on Tuesday it would buy Chart Industries (GTLS.N) in a $13.6 billion all-cash deal, including debt, outbidding rival Flowserve …
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Utility Duke Energy to Sell Tennessee Natural Gas Business for $2.48 Billion
By Pooja Menon July 29 (Reuters) – Duke Energy (DUK.N) said on Tuesday it would sell its Tennessee natural gas distribution business to Spire (SR.N) for $2.48 billion in cash, as the utility aims to streamline operations and unlock capital to invest in electric grid upgrades. About $800 million of the proceeds will be used …
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Foreign Oil Companies in Venezuela Await US Authorizations, Sources Say
(Reuters) – About a half dozen foreign partners of Venezuela’s state-owned oil company PDVSA are awaiting authorizations from the U.S. Treasury and State departments, following talks last week about fresh licenses to allow them to operate in the sanctioned South American country, according to six company sources. The companies’ licenses, including a key one for …
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China Could See High Tariffs if it Continues to Buy Russian Oil, Says Bessent
(Reuters) – U.S. Treasury Secretary Scott Bessent said on Tuesday he had told Chinese officials that, given U.S. secondary tariff legislation on sanctioned Russian oil, China could face high tariffs if Beijing continued with its Russian oil purchases. Bessent was speaking after two days of bilateral talks between the world’s two largest economies in Stockholm. …
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Trump’s EPA to Repeal Core of Greenhouse Gas Rules in Major Deregulatory Move
(Reuters) – The Environmental Protection Agency will rescind the long-standing finding that greenhouse gas emissions endanger human health, as well as tailpipe emission standards for vehicles, setting off what it describes as the largest deregulatory action in U.S. history. Republican President Donald Trump’s pick to run the EPA Lee Zeldin announced the agency’s plan to …
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John Hess Joins Chevron’s Board Following FTC Clearance
Former Hess Corp. CEO John Hess was cleared by the Federal Trade Commission on July 17 to serve on Chevron’s board.
Spire to Acquire Duke Energy Tennessee Gas Network for $2.48B
The $2.48 billion deal adds Duke Energy’s utility network, which serves more than 200,000 customers in the Nashville area, to Spire’s portfolio.