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Deal in the Works? EnCap Eyes $5 billion Sale of Shale Producer Grayson Mill

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas, Oil / By

Private equity firm EnCap Investments is exploring a sale of Grayson Mill Energy that could value the Bakken shale-focused oil and gas producer at around $5 billion, inclusive of debt, people familiar with the matter said on Thursday. EnCap has tapped investment bank Jefferies Financial Group to run a sale of Grayson Mill, the sources …

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Murphy Oil Corporation announces fourth quarter and full year 2023 results, preliminary year-end 2023 reserves, 2024 capital expenditure and production guidance

Latest, Press Releases / By

Accomplished 2023 Debt Reduction Goal of $500 Million, Repurchased $150 Million of Shares in Accordance With Capital Allocation Framework, Increased Dividend 9 Percent Annualized in 2024, Achieved 139 Percent Total Reserve Replacement Ratio With Preliminary Proved Reserves of 724 MMBOE HOUSTON–(BUSINESS WIRE)–Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the fourth …

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IT’S OFFICIAL: Canada’s Trans Mountain Pipeline to Start Up in Second Quarter

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, Pipelines / By

Trans Mountain Corp will begin line fill in February on its long-delayed Canadian oil pipeline expansion and expects it to be in service in the second quarter, a company executive said on Wednesday. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta to Canada’s Pacific Coast but …

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NextEra Posts Fourth-Quarter Profit Beat Helped by Lower Gas Prices

Latest, Press Releases, US News / By

(Reuters) – NextEra Energy, the largest generator of renewable energy in the United States, reported fourth-quarter profit that beat Wall Street estimates on Thursday, on strength in its regulated utilities business. The power company, which makes most of its electricity from natural gas, benefited from lower natural-gas prices , which fell about 14% in the …

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U.S. Clean Electricity Momentum Stalls Slightly in 2023

Electricity Grid, Energy Topics & Technology, Latest, Renewable Energy, Solar, US News, Wind / By

(Reuters) – Clean electricity generation in the United States hit new highs in 2023 but expanded by its smallest margin in more than a decade, due to below-normal wind speeds and a drop in hydro power output due to drought, data from think tank Ember shows. U.S. clean generation grew by just 0.4% last year, …

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Valero Energy’s Quarterly Profit Falls on Lower Fuel Prices

Energy Topics & Technology, Gasoline, Latest, Refineries, US News / By

Reuters (Reuters) – Valero Energy reported a fall in quarterly profit on Thursday as a slowdown in fuel demand hurt prices, kicking off earnings for U.S. refiners on a dour note. Weaker economic activity and an increase in global refining capacity last year pulled back refining profits from record heights touched in 2022, when disruptions to …

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Big Turnout Expected in New York Offshore Wind Power Auction

Latest, Renewable Energy, Tri-Pinned, US News, Wind / By

(Reuters) – Several offshore wind developers will likely bid in New York’s fourth offshore wind solicitation by the Thursday deadline, including units of European energy firms Orsted, Equinor and BP. The development of the U.S. offshore wind industry took a major blow last year when companies working in several states said they could no longer …

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Commentary: Globally, Oil is Creeping Higher But It’s Not a Healthy Market

Conventional Energy, Latest, Oil, US News / By

Demand growth remains weak, while supply increases continue to surprise. By Julian Lee Oil prices are creeping higher, but it’s probably too early for the bulls to cheer. Brent crude closed above $80 a barrel Monday for the first time this year, a feat it managed again Wednesday. Citigroup Inc. has warned oil may “pop” to $90 if tensions in …

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Biden’s Natural Gas Plan Coming Soon as Industry Mounts Lobbying Blitz

Latest, LNG, Natural Gas, Pinned Primary, US News / By

Changes may derail Venture Global’s CP2 terminal in Louisiana Climate activists pressure White House to curb exports The Biden administration is set to unveil plans within days for intensifying environmental scrutiny of applications to export natural gas, potentially stalling massive planned projects for months, if not longer. The administration’s approach could be announced as soon …

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