Conventional Energy

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Hess Guyana’s Secret Value Becomes Part of Exxon Arbitration, Sources Say

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

Summary Panel to consider independent appraisal of Hess Guyana Exxon sees Chevron-Hess merger as disguised asset buy, say sources Hess Guyana makes up 70% of Chevron’s $53 bln bid, say analysts Chevron, Hess see appraisal as irrelevant to arbitration case Aug 20 Chevron  last October offered to pay $53 billion for Hess, one of the two biggest deals …

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Hess Guyana’s Secret Value Becomes Part of Exxon Arbitration, Sources Say

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

Summary Panel to consider independent appraisal of Hess Guyana Exxon sees Chevron-Hess merger as disguised asset buy, say sources Hess Guyana makes up 70% of Chevron’s $53 bln bid, say analysts Chevron, Hess see appraisal as irrelevant to arbitration case Aug 20 Chevron  last October offered to pay $53 billion for Hess, one of the two biggest deals …

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Oil Prices Edge Down on Easing Geopolitical Risks, Weak China Demand

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Oil prices edged lower on Tuesday as Israel accepting a proposal to tackle disagreements blocking a ceasefire deal in Gaza eased supply concerns and China’s economic weakness weighed on the demand outlook. Brent crude was down 80 cents, or 1.03%, at $76.86 per barrel as of 0820 GMT. Front month U.S. West Texas …

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Quantum Capital Group Acquires Assets from Caerus Oil and Gas for $1.8 Billion

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

Establishes QB Energy to Own and Operate the Piceance Assets Existing Quantum Portfolio Company KODA Resources to Own and Operate the Uinta Assets HOUSTON, Aug. 19, 2024 (GLOBE NEWSWIRE) — Quantum Capital Group (“Quantum”) and Caerus Oil and Gas (“Caerus”) today announced the closing of a transaction under which Quantum, via two separate portfolio companies, …

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US Natgas Prices Jump 5% to Four-week High on Hotter Forecasts

Conventional Energy, Latest, Natural Gas, US News / By

(Reuters) U.S. natural gas futures jumped about 5% to a four-week high on Monday on a decline in output and forecasts for hotter weather next week than previously expected that should boost the amount of gas power generators burn to keep air conditioners humming. Front-month gas futures for September delivery on the New York Mercantile …

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Oil Producer APA Explores $1-Billion Sale of Permian Assets

Conventional Energy, Latest, Oil, US News / By

(Reuters) – APA Corp is exploring the sale of oil and gas drilling properties spread across parts of the Permian basin of Texas and New Mexico, in a deal that could be valued at about $1 billion, people familiar with the matter told Reuters. APA, which owns the properties through its Apache subsidiary, is working …

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Occidental Announces Continued Progress on Debt Reduction and Divestiture Initiatives

Conventional Energy, Latest, Oil, Press Releases / By

  Achieved $3 billion in principal debt reduction in the third quarter of 2024 Public offering of a portion of Occidental’s common units of Western Midstream Partners, LP, raised $700 million, bringing total 2024 year-to-date closed or announced divestments to approximately $1.7 billion Following close of the previously announced Delaware Basin Barilla Draw divestiture, which …

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Woodside Gets Environmental Go-Ahead for Scarborough Project; Key Green Group Backs Down

CDN and International News, Conventional Energy, Latest, Natural Gas / By

Summary Shares up 1.3% VS fall in energy index Australia’s laws work in favour of fossil fuel interests – ACF Scarborough commissioning key growth catalyst – analysts (Reuters) – Woodside’s $12.5 billion Scarborough gas project in Western Australia has all primary environmental approvals in place, the firm said on Monday, after a green group agreed …

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Why Canada is on the Verge of an Unprecedented Rail Labor Stoppage

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Oilsands / By

For the first time, Canada’s two main railway companies – Canadian National Railway and Canadian Pacific Kansas City – are on the verge of a simultaneous labor stoppage that could inflict billions of dollars’ worth of economic damage. WHY ARE BOTH COMPANIES POISED TO STOP? Contract talks between the Teamsters union and the companies usually …

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California Aims to Tackle Pump Spikes by Requiring Gas Reserves

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

California Governor Gavin Newsom proposed a plan on Thursday requiring oil refiners to maintain minimum reserves of gasoline in an effort to prevent price spikes. The California Energy Commission said that on 63 days last year California refiners maintained less than 15 days of supply of gasoline, a situation that it said spiked prices and …

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