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Chord Energy and Enerplus to Combine in $11 billion Transaction Creating Premier Williston-Focused E&P Company With Top-Tier Shareholder Returns

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

Enhanced Operating Scale to Drive Returns and Free Cash Flow; Combined Acreage Position Totaling 1.3 Million Net Acres and Combined 4Q23 Production of 287,000 Boepd Combined Company has Approximately 10 years of Low-Breakeven Inventory with Significant Opportunity to Enhance Returns through Efficiencies and Expanding Three-Mile Lateral Opportunities Transaction Accretive to Key Metrics  While Preserving Low Leverage; …

Chord Energy and Enerplus to Combine in $11 billion Transaction Creating Premier Williston-Focused E&P Company With Top-Tier Shareholder Returns Read More »

Western Hemisphere Oil Output Surges, With a Helping Hand From OPEC – John Kemp

Conventional Energy, Latest, Oil, US News / By

Oil producers in the Western Hemisphere have captured all the increase in global oil consumption over the last decade, reversing the previous trend towards production becoming concentrated in the Eastern Hemisphere. With consumption growth increasingly focused on the Eastern Hemisphere, the predominant east-to-west flow of crude oil and refined products across the oceans has been reversed, transforming …

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Prompt U.S. Crude Futures Jump to Steep Premium Over Later-Dated Contracts

Conventional Energy, Latest, Oil, US News / By

The premium for prompt U.S. crude futures to the second-month contract more than doubled on Tuesday, hitting a high of $1.71 a barrel – its widest level in roughly four months. The structure, known as backwardation, occurs when the front-month contract is at a premium to later-dated contracts and can indicate tightness in the market. …

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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 …

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

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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Oil Hovers Near 3-Week High on Middle East Tensions, China Demand

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Signs of stronger China demand support sentiment -analyst Beijing cuts mortgage reference rate to bolster property sector Houthis continue to hit shipping in Red Sea (Reuters) – Oil prices edged lower on Tuesday but remained near three-week highs on heightened Middle East tensions and as China showed some signs of economic recovery. Brent futures …

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Oil Prices Can Avoid Both Boom and Bust This Year

Conventional Energy, Latest, Oil, US News / By

After a boom at the end of the pandemic and a bust last year, oil may avoid either extreme in 2024. At least, that’s the message from two prominent oil-watchers. Markets are set for a “comfortable” year with “moderate” prices as global demand growth cools and supply from the Americas swells, International Energy Agency Executive Director Fatih …

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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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Oil Settles Up, Records Weekly Gain on Middle East Tensions

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Israel strikes Rafah IEA trims oil demand growth forecast India-bound oil tanker hit by missile fired from Yemen (Reuters) – Oil prices settled higher on Friday as geopolitical tensions in the Middle East more than offset a forecast from the International Energy Agency for slowing demand. Brent crude futures settled up 61 cents, or …

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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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