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Occidental Says CrownRock Deal Delayed by FTC Requests of ‘Everything’

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

(Reuters) – Occidental Petroleum  on Thursday said a U.S. regulator’s second request for information on the acquisition of shale producer CrownRock has pushed back the deal’s closing date to second half this year. The delay in Federal Trade Commission (FTC) approval of the $12 billion acquisition will make the Houston-based oil company postpone planned sales of …

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U.S. Awards SPR Contracts Worth $229.5 Million to ExxonMobil, BP, Others

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil / By

The Biden administration has awarded Strategic Petroleum Reserve (SPR) contracts for 2.95 million barrels of oil worth about $229.5 million to four companies, the U.S. Energy Department said on Thursday. The U.S.-produced crude oil is being purchased for an average price of $77.81 per barrel, lower than the average of about $95 per barrel that …

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U.S. Natgas Drillers Cut Spending, Reduce Activity Amid Price Crash

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, Natural Gas, Tri-Pinned, US News / By

U.S. natural gas producers are slashing spending and reducing drilling activity following a sharp decline in prices, companies said this week during earnings presentations and analyst calls. For months of relatively low gas prices, many producers kept output mostly steady on expectations that demand would rise in 2024 and 2025 when several liquefied natural gas …

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U.S. House Passes Bill to Reverse Biden’s LNG Pause but Still Faces Battle with Democrat-Controlled Senate

Conventional Energy, Latest, LNG, Pinned Primary, US News / By

A bill to strip the power of President Joe Biden’s administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday, but faces an uphill battle in the Senate. The House approved the bill sponsored by Representative August Pfluger of gas-producing Texas 224-200 on a mostly party-line …

U.S. House Passes Bill to Reverse Biden’s LNG Pause but Still Faces Battle with Democrat-Controlled Senate Read More »

New York Pension Fund Further Restricts Investments in Exxon, Other Oil Companies

Conventional Energy, Latest, Oil, US News / By

The New York State Common Retirement Fund would restrict its investments in eight integrated oil and gas companies including Exxon Mobil, after a review of the companies’ readiness to transition to a low-carbon economy, New York Comptroller Thomas DiNapoli, who oversees retirement assets, said. While various universities and public pension funds have restricted oil and …

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Shale Executives Pledge Not to Grow (Too Much)

Conventional Energy, Energy Topics & Technology, Latest, Oil, Shale, US News / By

U.S. producers blew through forecasts last year, adding the equivalent of another Venezuela to global supplies. As reliably as warm weather returns to West Texas in late February, US shale executives are out on the road this earnings season pledging they’ll keep production growth modest during the next 12 months. The past 12 months offer reason for …

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Woodside Flags $1.2 Bln Charge Against Asset Bought Under BHP Merger

CDN and International News, Latest / By

Woodside Energy, Australia’s largest energy firm, flagged a non-cash post tax-asset impairment of around $1.2 billion from its Shenzi oil and gas field in its 2023 fiscal earnings, sending its shares down to close at a two-month low on Thursday. Woodside had acquired the Shenzi deepwater oil and gas fields in the Gulf of Mexico …

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Birchcliff Energy Ltd. announces unaudited 2023 full-year and fourth quarter results and 2023 reserves highlights

Latest, Press Releases / By

CALGARY, Alberta, Feb. 14, 2024 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its unaudited 2023 full-year and fourth quarter financial and operational results and highlights from its independent reserves evaluation effective December 31, 2023. “In 2023, we delivered annual average production of 75,699 boe/d and adjusted funds flow(1) of …

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U.S. House to Vote on Biden’s LNG Political Pause Friday, White House Defends Move

Conventional Energy, Latest, LNG, Pinned Primary, US News / By

Republican lawmakers opposing President Joe Biden’s pause on LNG export approvals said the U.S. House of Representatives will vote on Friday on a bill to take those approvals out of the hands of the Department of Energy. The bill has been in development since before the move last month by Biden, a Democrat, to pause …

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U.S. Crude Stockpiles Rise, Products Draw Down as Refining Drops – EIA

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

U.S. crude oil stockpiles rose last week while gasoline and distillate inventories fell as refinery runs dropped to their lowest since December 2022, the Energy Information Administration said on Wednesday. Crude inventories rose by 12.0 million barrels to 439.5 million barrels in the week to Feb. 9, the EIA said, far exceeding analysts’ expectations in …

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