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Tourmaline Oil to Buy Crew Energy in $947 Million Deal

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas / By

Company pushes further into ranks of biggest energy producers Acquisition follows C$1.5 billion Bonavista deal last year Tourmaline Oil Corp. agreed to buy Crew Energy Inc. for C$1.3 billion ($947 million) as Canada’s biggest gas driller pushes to grow production in anticipation of rising gas demand for power and exports. The all-stock transaction is valued at approximately C$6.69 …

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Layoffs Begin – Exxon Reports 59 Layoffs to Texas Agency Post-Pioneer Acquisition

Conventional Energy, EnergyNow News and Press Releases, Latest, Natural Gas, Oil, US News / By

HOUSTON, Aug 12 (Reuters) – Exxon Mobil issued a layoff notice to 59 employees as part of its workforce reshuffle following its $60 billion acquisition of Pioneer Natural Resources, according to a filing with the Texas Workforce Commission. Exxon said more than 1,500 Pioneer employees were offered jobs as part of the merger. Pioneer had roughly …

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US Natgas Hits Near 3-Week High on Output Drop, Hotter Weather Forecasts

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(Reuters) U.S. natural gas futures rose more than 1% to a near three-week high on Monday, supported by a drop in output in recent days and forecasts for hotter weather that should boost the amount of gas power generators burn to keep air conditioners humming. Front-month gas futures for September delivery on the New York …

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US Natgas Prices Hit Two-Week High on Hot Weather Outlook, Higher Demand Forecasts

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(Reuters) U.S. natural gas futures touched an over two-week peak on Friday, aided by forecasts for hotter weather and higher demand for the next week. Front-month gas futures for September delivery on the New York Mercantile Exchange were up 0.7 cent, or about 0.3%, at $2.13 per million British thermal units at 10:14 a.m. EDT …

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Recession Risks Roil Markets but Not Yet Alarming

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

 Disappointing U.S. jobs data has shaken confidence in a soft landing for the world’s largest economy, sending global equity markets tumbling and bets on interest rate cuts surging. But investors abandoning a popular yen carry trade has played a big role in the selloff, complicating the message from asset prices on the economic outlook. The …

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Explainer: What happens if Russian Gas Transit via Ukraine Stops?

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(Reuters) – Heavy fighting near the Russian town of Sudzha, where Russian gas flows into Ukraine, has raised concerns over a sudden stop to transit flows via Ukraine before a five-year deal with Russia’s Gazprom  expires. The Ukraine gas transit route enables Russia to export gas to Europe via Ukraine. The transit deal is set …

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EIA Forecasts Larger Decline in U.S. Natural Gas Output for 2024

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

The U.S. Energy Information Administration on Tuesday forecast a larger decline in natural gas output this year compared to earlier estimates, citing record low prices earlier in 2024 that forced producers to curtail gas production. U.S. natural gas output will average around 103.3 billion cubic feet per day (bcfd) this year, the EIA said in …

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U.S. Oil and Gas Output Curbed by Lower Prices: John Kemp

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

U.S. oil and gas production show further signs of flattening out or turning down, a delayed response to the decline in prices over the last two years after the initial shock caused by Russia’s invasion of Ukraine in early 2022.   Total crude and condensates production from the Lower 48 states, excluding federal waters in …

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Williams to Resume Louisiana Natgas Pipeline Project, Ending Feud with Energy Transfer

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

Williams Cos got the green light to continue building its Louisiana Energy Gateway project (LEG) on Wednesday, a natural gas pipeline, after a court threw out rival company, Energy Transfer’s last bid to halt its construction. The two companies have been in dispute over Williams’ LEG project, under construction in Texas and Louisiana, after Energy …

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Shell Beats Forecasts With $6.3 Billion Second Quarter Profit

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

Summary Profit down 19% quarter on quarter Weak refining margins and trading results weigh Plans a further $3.5 billion in buybacks  (Reuters) – Shell  reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months as refining margins and oil and gas trading weakened, though still beating analysts’ forecasts. The results were …

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