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Venture Global Louisiana Plaquemines LNG Export Plant Takes in First Natural Gas

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

U.S. liquefied natural gas company Venture Global LNG’s Plaquemines export plant under construction in Louisiana started to take in natural gas from pipelines on Wednesday, according to data from financial firm LSEG on Thursday.The United States is already the biggest LNG exporter in the world. Plaquemines is expected to be the next U.S. LNG export …

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SM Energy Buys XCL Resources’ Shale Assets for $2 Bln

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

SM Energy said on Thursday it had agreed to buy some shale assets of oil and gas producer XCL Resources for about $2 billion, extending its footprint in the Uinta region in Utah. Northern Oil and Gas will also buy 20% of the oil and gas assets of EnCap Investments-backed XCL for $510 million, resulting …

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Epsilon Announces an Increased Borrowing Base and Permian Operations Update

Latest, Press Releases / By mark

HOUSTON, June 25, 2024 (GLOBE NEWSWIRE) — Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today reported the results of a borrowing base redetermination on the Company’s senior secured reserve-based revolving credit facility (the “Credit Facility”) with Frost Bank (the “Lender”). Effective on June 21, 2024, the Lender redetermined the Company’s borrowing base at …

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SM Energy to Buy XCL Resources in $2.55B Entry into Uinta Basin

Latest / By mark

SM Energy has entered into a joint acquisition with Northern Oil and Gas to buy XCL Resources’ oil-heavy Uinta Basin assets in a core area that SM says competes with the Midland Basin.

‘Too Many’ Players: Oilfield Services Feel Permian M&A Crunch—Dallas Fed

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After a historic run of E&P consolidation, oilfield services and equipment providers in the Permian are competing to woo a dwindling number of upstream customers, according to the second-quarter Dallas Fed Energy Survey.

Aussie Shale’s Tamboran Resources Prices IPO in Range but for Fewer Shares

Latest / By mark

Among those buying the Australian shale-gas developer’s pre-trade shares were U.S. wildcatter Bryan Sheffield and completions pressure-pumper Liberty Energy.

Regional Oil Output Little Changed in Q2, Says Dallas Fed

Latest, Natural Gas, Oil, US News / By mark

Oil and gas activity in Texas, Louisiana and New Mexico rose modestly in the second quarter of 2024, the Federal Reserve Bank of Dallas said on Wednesday in its quarterly survey of energy firms. Second quarter oil and gas production was little changed, according to executives polled. The survey covered 90 exploration and production firms …

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U.S. Energy Production Exceeds Consumption by Widest-Recorded Margin

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

U.S. energy production overshadowed consumption by 9 quadrillion British thermal units (quads) in 2023, according to an analysis released by the U.S. Energy Information Administration (EIA) on Wednesday that showed the widest margin in records dating back to 1949. Energy production rose 4% to hit a record of nearly 103 quads in 2023, the analysis …

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Texas Power Demand to Break June, July Records in Heat Wave, Grid Operator Says

Electricity Grid, Energy Topics & Technology, Latest, US News / By mark

The Texas power-grid operator forecast on Wednesday that electricity use will break peak-demand records for June and July over the next week as homes and businesses crank up air conditioners to escape a heat wave. In response to that demand spike, spot power and natural gas prices jumped to their highest levels since earlier this …

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Sempra, Aramco Sign HOA for Port Arthur LNG Phase 2 Offtake

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Sempra and Aramco executed a non-binding Heads of Agreement for LNG offtake from Port Arthur LNG Phase 2, while contemplating the Saudi Arabian energy giant to grab a 25% project-level equity in Phase 2.