E&P Highlights: March 24, 2025
Here’s a roundup of the latest E&P headlines, from an oil find in western Hungary to new gas exploration licenses offshore Israel.
Latest
COMMENTARY: 28 Energy Leaders Call for Eliminating IRA Subsidies—Even Ones They Benefit From – Alex Epstein
This is the kind of integrity we need from industry—and from Congress. By Alex Epstein 28 energy leaders just called for the elimination of all IRA subsidies—even ones that benefit their companies. This is the kind of integrity we need from industry—and from Congress. The full letter is below (PDF here). Please share this with your Congressmen! Dear Chairman …
Validus Pays $850MM for 89 Energy as Midcon M&A Heats Up
Elliott Investment Management-backed Validus Energy continues to roll up Midcontinent assets, closing an $850 million acquisition of 89 Energy III.
Gulf South Pipeline Cuts Gas to Freeport LNG’s Texas Plant After Lightning Strike
The incident has slashed gas usage at Freeport LNG’s plant, which can process up to 2.4 Bcf/d of gas, to 450 MMcf/d from previous expectations of almost 1.8 Bcf/d, according to LSEG data.
Stonepeak Backs Longview for Electric Transmission Projects
Newly formed Longview Infrastructure will partner with Stonepeak as electric demand increases from data centers and U.S. electrification efforts.
Jet Fuel Took Record Share of ’24 US Refinery Output, EIA Says
In 2024, U.S. refineries produced a record 659.837 MMbbl of jet fuel, which accounted for about 11% of total refinery yields.
Venture Global’s Plaquemines Gets FERC Approval for Phase 2 Generators
Venture Global continues to ramp up production after an early winter startup.
Canadian Government to Fund Portion of Cedar LNG’s $5.96B Development Cost
The Government of Canada has pledged to contribute up to $200 million to help the Haisla Nation and Pembina Pipeline Corp. develop the $5.96 billion Cedar LNG Project
Lufkin Sells North America Downhole Business to Q2 Artificial Lift
Lufkin Industries will focus on software and surface equipment while Q2 Artificial Lift Services will expand its downhole services.
More Players, More Dry Powder—So Where are the Deals?
Bankers are back and ready to invest in the oil and gas space, but assets for sale remain few and far between, lenders say.