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The oil and gas industry is in “consolidation mode,” and pipeline company DT Midstream Inc. is positioning itself to take advantage of potential mergers and acquisitions, the company’s chief executive officer said. “We’re very aware of all those bolt-on opportunities around us,” CEO David Slater said on a quarterly earnings call with analysts Friday. Since …
Pipeline Owner DT Midstream Is Evaluating M&A Opportunities Read More »
Shale drillers can ‘consolidate or get eaten’: Warwick CEO US oil producers now in ‘arms race’ for scale, investor says This week’s $26 billion combination of two Texas oil companies is the latest in a series of deals that’s ushering in the era of Big Shale. Wall Street, which eyed the sector with skepticism for …
Wall Street Is Warming to Big Shale After $250 Billion of Deals Read More »
Reuters Feb 16 (Reuters) – Pipeline operator TC Energy beat fourth-quarter profit estimates on Friday, helped by high demand for liquefied natural gas (LNG). The U.S. was the world’s top LNG exporter last year, after Europe imposed sanctions on Moscow following Russia’s invasion of Ukraine. Full-year exports from the United States rose 14.7%, driven largely by …
Pipeline Operator TC Energy Beats Fourth-Quarter Profit Estimates Read More »
WASHINGTON/NEW YORK, Feb 16 (Reuters) – The U.S. oil industry saw nearly $200 billion in upstream deals last year, but the refining sector missed out despite plenty of willing sellers as the energy transition away from fossil fuels accelerates and casts doubt over the long-term value of aging U.S. refineries The growing number of operators looking to …
U.S. Refinery M&A Stalls as Buyers Shun Aging Assets, Uncertain Future Read More »
North Dakota’s oil production fell by 6,000 barrels per day in December to 1.27 million bpd, even as the number of producing wells climbed to a record high, monthly data from the state’s Industrial Commission showed on Thursday. Oil producers cut back on hydraulic fracturing activity ahead of expected colder weather and the holidays, reducing …
Oil Output in North Dakota Fell in Dec., Despite Record Well Count Read More »
ET executive calls anticompetitive claims ‘unfounded,’ ‘false’ Williams pushes back Louisiana project to 2025 amid dispute There’s no love lost between Energy Transfer LP and Williams Cos. The two pipeline giants hurled accusations at each other Wednesday and gave details of an ongoing court battle over building natural gas projects in Louisiana. Energy Transfer has been accused of …
Energy Transfer, Williams Trade Barbs as Gas Pipeline Spat Heats Up Read More »
Reuters Feb 15 (Reuters) – New York Governor Kathy Hochul said on Thursday that the New York State Public Service Commission has adopted a $200 million energy bill credit program to be managed by large electric and gas utilities on behalf of their customers. Under the plan proposed by the Energy Affordability Policy working group, …
New York Governor Unveils $200 Million Energy Bill Relief Program Read More »
(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 …
Occidental Says CrownRock Deal Delayed by FTC Requests of ‘Everything’ Read More »
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 …
U.S. Awards SPR Contracts Worth $229.5 Million to ExxonMobil, BP, Others Read More »
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 …
U.S. Natgas Drillers Cut Spending, Reduce Activity Amid Price Crash Read More »
