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Chesapeake Energy Tops Quarterly Estimates, Cuts Production Views

Energy Topics & Technology, Exploration & Production, Latest, US News / By

(Reuters) – Chesapeake Energy beat Wall Street estimates for fourth-quarter profit on Tuesday as the U.S. natural gas producer tackled weak commodity prices with lower operating expenses. Chesapeake shares fell about 2% in aftermarket trading as the company forecast a 20% drop in spending on baseline production this year. Its fourth-quarter shareholder returns also fell sharply …

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Equitrans Delays WV-VA Mountain Valley Natgas Pipe Again, Boosts Cost

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

U.S. energy firm Equitrans Midstream delayed the completion date for its Mountain Valley natural gas pipeline from West Virginia to Virginia to the second quarter of 2024 from the previous estimate of the first quarter. The company also boosted the projected cost to complete the project to around $7.57 billion-$7.63 billion, up from a prior …

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Occidental Explores $20 Bln-Plus Sale of Western Midstream

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

Occidental Petroleum is exploring a sale of Western Midstream Partners, a U.S. natural gas-focused pipeline operator that has a market value of close to $20 billion, including debt, according to people familiar with the matter. Western Midstream shares rose 10% to $32.12 in afternoon trading in New York on Tuesday. The divestment would help Occidental, …

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Wireless Charging for Electric Cars Is Inching Closer to Reality

Electric Vehicles, Energy Topics & Technology, Latest, US News / By

As EV sales climb, more companies are embarking on wireless-charging pilot projects. But hurdles remain before powering up without a plug can go commercial.  Bloomberg Someday soon, plug-in cars may no longer need a plug. Electric car drivers would simply pull into a specialized parking space when it’s time to power up, wait for a …

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Oil Industry, Green Groups Challenge Biden Offshore Drilling Plan

Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, Tri-Pinned, US News / By

(Reuters) – Oil and gas companies and environmental groups on Monday filed dueling legal challenges to the Biden administration’s five-year plan to offer drilling leases in the Gulf of Mexico. The petitions to a U.S. appeals court come four months after the Interior Department unveiled a congressionally-mandated plan for offshore leasing that included just three sales, the …

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Biden Administration to Approve E15 Gasoline Expansion Starting in 2025

Biomass, Energy Topics & Technology, Gasoline, Latest, Renewable Energy, US News / By

(Reuters) – The White House will approve a request from a group of Midwest governors to allow year-round sales of gasoline with higher blends of ethanol, but will push the start date into next year, two sources familiar with discussions said. The decision will likely be bittersweet for the biofuel industry, which wants to expand …

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Pipeline Owner DT Midstream Is Evaluating M&A Opportunities

Energy Topics & Technology, Latest, Pipelines, US News / By

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 …

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Wall Street Is Warming to Big Shale After $250 Billion of Deals

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas, Oil, Shale, Tri-Pinned / By

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 …

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Pipeline Operator TC Energy Beats Fourth-Quarter Profit Estimates

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, Pipelines, US News / By

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 …

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U.S. Refinery M&A Stalls as Buyers Shun Aging Assets, Uncertain Future

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, Refineries / By

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 …

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