Espada E&P Startup Nabs Carnelian Backing for Onshore M&A Run
Espada Energy Partners, backed by Carnelian funds, joins a new wave of startup E&Ps hunting for M&A opportunities.
Open Season Begins for Golden’s Proposed Gas Storage in Kansas
Participation in Golden Gas Service Co.’s non-binding open season for its proposed salt cavern natural gas storage project is required for later capacity bids.
Baker Hughes Buys Continental Disc for $540MM
Baker Hughes announced its third transaction this month—this time to acquire pressure management solutions provider Continental Disc Corp. for $540 million—as the company seeks to optimize its portfolio.
TotalEnergies Expands Offshore Malaysia, Indonesia with Petronas Deal
TotalEnergies acquired offshore positions from Petronas, reinforcing its strategic LNG growth platform.
Oil Price Surge Sparks Burst of Hedging Among Shale Drillers
By Lucia Kassai and David Marino The surge in oil futures spurred by the initial missile attacks in the Middle East last week triggered a wave of hedging by producers seeking to lock in the higher prices, keeping some traders up late into the night. AEGIS Hedging Solutions LLC, a Woodlands, Texas-based firm that helps …
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Ex-Shell US Oil Trading Boss Claims He’s Owed $29 Million Bonus
By Lucia Kassai Shell Plc’s former head of oil trading in the US was stiffed on his 2020 bonus by more than $29 million, he claims in a lawsuit that shines a light on compensation inside the oil major’s lucrative trading unit. John Dimech alleges that even though his unit’s profits doubled in 2020, his …
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COMMENTARY: What’s Not Happening to Middle East Crude Supply Matters More – Russell
By Clyde Russell LAUNCESTON, Australia, June 16 (Reuters) – When tensions rise in the Middle East, it can be helpful to look at what is not happening as much as what is. In the crude oil market, this means focusing on the fact that so far not a single barrel of crude oil supply has …
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Mitsubishi Corp in Talks for $8 Billion US Shale Acquisition, Source Says
June 16 (Reuters) – Mitsubishi Corp (8058.T) is in talks to acquire the U.S. shale production and pipeline assets of Aethon Energy Management for roughly $8 billion, a person familiar with the matter said on Monday. The deal, should it be struck, would give the Japanese conglomerate a substantial natural gas operation adjacent to the …
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EU Moves Ahead With Russian Gas Ban Proposal Despite Hungary, Slovakia Vetoes
By Kate Abnett LUXEMBOURG, June 16 (Reuters) – Hungary and Slovakia on Monday opposed a planned European Union ban on Russian gas imports, though Brussels is expected to propose the law on Tuesday, which could pass without their approval. The European Commission aims to ban EU Russian gas and liquefied natural gas (LNG) imports by …
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US Supreme Court to Hear Chevron, Exxon Appeal Over Louisiana Coastal Damage
By Nate Raymond Federal court friendlier venue for companies in such cases Appeal involved suits by Plaquemines and Cameron parishes June 16 (Reuters) – The U.S. Supreme Court agreed on Monday to hear a bid by Chevron (CVX.N), Exxon Mobil (XOM.N) and other oil and gas companies to have lawsuits brought by two Louisiana localities …
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