Exploration & Production

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Berkshire Hathaway Boosts Stake in Occidental Petroleum to Nearly 29%

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

(Reuters) – Billionaire Warren Buffett’s Berkshire Hathaway Inc. acquired another 2.95 million shares in Occidental Petroleum , a regulatory filing showed, bringing his stake in the U.S. oil producer’s common stock to nearly 29%. Berkshire disclosed in a U.S. Securities and Exchange Commission filing on Monday that it paid about $176 million in three separate purchases of …

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EQT Restarts Curtailed Gas Production, Natural Gas Intelligence News Says

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

EQT Corp. CEO Toby Rice announced that the Pittsburgh-headquartered company is now reinstating the 1 billion cubic feet per day (Bcf/d) that was previously curtailed since late February, Natural Gas Intelligence said in a report on Wednesday. EQT Corp., the leading producer of natural gas in North America, reduced production earlier this year due to …

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Matador to Buy Permian Oil Assets From EnCap for $1.9 Billion

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

Photographer: Callaghan O’Hare/Bloomberg Oil producer Matador Resources Co. agreed to buy assets in the Permian Basin from a portfolio company of EnCap Investments LP for $1.9 billion in cash, the latest in a series of shale industry tie-ups. The deal includes oil and gas producing properties and undeveloped acreage in New Mexico and West Texas owned by …

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How Devon Energy Missed Out on the U.S. Oil and Gas Mega-Deal Wave

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Oil, Pinned Primary, US News / By

(Reuters) – U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations. Devon missed out on the sector’s dealmaking boom by losing to ConocoPhillipsthe $22 billion deal to …

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U.S. Oil Producers Maintain Modest Growth as OPEC+ Eyes Extended Cuts

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, Oil, Pinned Primary, Shale, US News / By

(Reuters) – U.S. oil drillers are sticking to pledges to temper spending on boosting output, keeping the world’s top crude producer on course for slower growth in 2024 in what may ease pressure on OPEC+ to make further supply cuts this weekend. The U.S. has driven growth in global oil supply from non-OPEC producers over …

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Chord Energy and Enerplus Complete Combination, Creating Premier Williston-Focused E&P Company

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

HOUSTON, May 31, 2024 /PRNewswire/ — Chord Energy Corporation (NASDAQ: CHRD) (“Chord”, “Chord Energy” or the “Company”) and Enerplus Corporation (TSX: ERF) (NYSE: ERF) (“Enerplus”) announced today the completion of their previously announced business combination (the “Arrangement”). The Arrangement was approved by Chord and Enerplus shareholders on May 14, 2024 and May 24, 2024, respectively, and received …

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OPEC+ Working on Complex Production Cut Deal for 2024-2025

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, OPEC / By

(Reuters) – OPEC+ is working on a complex deal to be agreed at its meeting on Sunday that will allow the group to extend some of its deep oil production cuts into 2025, three sources familiar with OPEC+ discussions said on Thursday. OPEC+ has made a series of cuts since late 2022 amid rising output …

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Exxon Vows to Be ‘Forceful Advocate’ for Shareholder Democracy

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

Opponents say lawsuit is attempt to silence dissenting voices Investors vote with board on all proposals at virtual meeting Exxon Mobil Corp. pledged to be a “forceful advocate” for shareholder rights as it confronts activist investors that the oil giant accuses of abusing the US proxy voting system. Chief Executive Officer Darren Woods vowed to “safeguard” annual meetings …

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Hess Investors to Vote on Chevron Deal Amid Growing Postponement Calls

Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Tri-Pinned, US News / By

Hess Corp shareholders will vote on Tuesday on Chevron’s proposed $53 billion acquisition of the company, after many investors have called for a delay in hopes of obtaining a better offer for their shares. The vote has huge implications for both companies. The deal has been stalled in part by a regulatory review and clouded …

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Iran Plans to Raise Oil Output to 4 Million Barrels Per Day

CDN and International News, Energy Topics & Technology, Exploration & Production, Latest, Oil, OPEC / By

 (Reuters) – Iran has approved a plan to raise its oil output to four million barrels per day, the country’s Tasnim news agency said on Sunday, without providing a time frame. “An economic council headed by Iran’s interim president Mohammad Mokhber has approved a plan to raise the country’s oil output from 3.6 million barrels …

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