EQT Buys Private Marcellus E&P Olympus Energy for $1.8B
EQT’s acquisition from Blackstone-backed Olympus adds 90,000 net Marcellus and Utica acres and 500 MMcf/d of production.
ConocoPhillips Plans Layoffs as Part of Broad Restructuring
ConocoPhillips, a top U.S. oil and gas producer, plans to cut staff, the company said on Tuesday, amid a broad push to rein in costs and streamline operations after its $23 billion buyout of rival Marathon Oil. The job cuts are the latest sign of pain in the oil and gas industry, which is facing …
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FERC Chair Resigns, Setting Stage for GOP Control of Commission
Chairman Willie Phillips, known as a moderate Democrat who tended to vote with GOP members on infrastructure issues, will be replaced with a Trump nominee.
Money Talks: Texas Capital Bank on How to Deploy Capital Amid Shrinkage
In an uncertain macro environment, caution is necessary in deploying capital, says Marc Graham, managing director and head of energy at Texas Capital Bank.
Baker Hughes Flags Tariff Impact on Full-Year Core Profit
(Reuters) – U.S. oilfield technology firm Baker Hughes on Tuesday flagged a potential impact on its annual core profit of between $100 million and $200 million due to tariffs. U.S. President Donald Trump’s trade policy has heightened uncertainty in the energy industry, as the ensuing trade war is expected to curb global economic growth and, …
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Democrat Phillips Resigns From US Energy Regulatory Panel
(Reuters) – Willie Phillips, a Democratic commissioner on the U.S. Federal Energy Regulatory Commission, resigned on Tuesday, opening the way for President Donald Trump to nominate another member who would give the five-member panel a Republican majority. The resignation of Phillips, whose term had been set to go through June 30, 2026, allows Trump to …
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North Dakota Oil Prices Near Breakeven Levels in Market Rout, State Regulator Says
(Reuters) – North Dakota oil prices are near breakeven levels, the state’s oil and gas regulator said on Tuesday, as a global trade war has stoked concerns of a recession and roiled energy markets. North Dakota is the third largest oil-producing state in the U.S., but its maturing oilfields require a higher oil price to …
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EQT to Acquire Upstream and Midstream Assets of Olympus Energy for $1.8 Billion
(Reuters) – EQT said on Tuesday it plans to acquire the upstream and midstream assets of Olympus Energy in a deal valued at $1.8 billion. The company also beat first-quarter profit estimates on Tuesday, benefiting from higher natural gas prices. The company reported an adjusted profit of $1.18 per share, for the quarter ended March …
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OpenAI’s Sam Altman to Step Down as Oklo Chairman
Oklo CEO Jacob DeWitte is replacing Sam Altman as Oklo Inc.’s chairman of the board.
Devon Makes Operational Overhaul Amid Oil Market Volatility
Facing headwinds from falling oil prices, Devon Energy aims to reduce costs through several operational and corporate changes.