Phillips 66 Adding Permian Gas Plant, Sticking with NGL Growth Plan
Phillips 66 said it will add a gas processing plant in the Permian Basin while continuing to strengthen its NGL system.
E&P Highlights: April 28, 2025
Here’s a roundup of the latest E&P headlines, including field redevelopment in Iraq and an estimate of gas resources in Namibia.
US Natgas Prices Jump 5% to 1-Week High Ahead of Contract Expiration
(Reuters) – U.S. natural gas futures jumped about 5% to a one-week high on Monday in light trade ahead of the expiration of the front-month contract on forecasts for higher demand this week than previously expected. Earlier in the day, prices slid about 2% to a five-month low on rising output and forecasts for mild …
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Woodside in Talks to Sell Louisiana LNG Stake to Kuwait Petroleum Unit, Bloomberg News Reports
(Reuters) – Woodside Energy is in talks with an overseas unit of Kuwait Petroleum to sell a stake in its Louisiana liquefied natural gas plant in the U.S., Bloomberg News reported on Monday, citing people with knowledge of the matter. The overseas unit, Kuwait Foreign Petroleum Exploration, is also considering securing LNG supply from the …
Generating a Problem: Turbine Builders Unable to Keep Up with Power Demands
A lead of Mitsubishi’s U.S. industrial division says the current supply chain for generators can’t keep up with the booming demands of AI.
Barclays Cuts 2025 Brent Crude Forecast on Trade Tensions, OPEC+ Shifts
(Reuters) – Barclays lowered its Brent crude forecast on Monday by $4 to $70 a barrel for 2025 and set its 2026 estimate at $62/b, citing “a rocky road ahead for fundamentals” amid escalating trade tensions and OPEC+’s pivot in its production strategy. Despite oil market fundamentals evolving “significantly better than expected” in early 2025, …
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Golden Pass LNG Gets FERC Approval to Commission
Once completed, Golden Pass LNG, a joint project between QatarEnergy and Exxon Mobil, will have a capacity of over 2.57 Bcf/d.
Innovex Sells Dril-Quip Facility for $95MM, Reduces Revenue Guidance
Innovex International Inc. has agreed to sell the Dril-Quip Eldridge Campus in northwest Houston to Big Acquisitions LLC for $95 million following its merger with Dril-Quip in September 2024.
Prairie Updates Bayswater’s DUC Completions Program in D-J Basin
Prairie Operating Co. started completion of the nine DUC wells that were part of an acquisition from Bayswater Exploration & Production in the Denver-Julesburg Basin.
EPA Chief: ‘Do Not Underestimate President Trump’ on Tariff Outcomes
Lee Zeldin, the Environmental Protection Agency’s administrator, as well as other cabinet members said President Donald Trump’s tariff negotiations will improve, rather than diminish, the U.S.’ business outlook.