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Crescent Energy to Buy SilverBow Resources in $2.1 Billion Deal

Energy Topics & Technology, Latest, Mergers and Acquisitions, Pinned Primary, US News / By

(Reuters) – Crescent Energy  will buy SilverBow Resources  in a $2.1 billion deal, the companies said on Thursday, amid a consolidation wave in the U.S. oil and gas industry. SilverBow and Crescent Energy both operate in the Eagle Ford shale in Texas. The announcement comes amid SilverBow’s tussle with its largest shareholder Kimmeridge Energy Management, which …

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U.S. Oil Output in Top Shale Regions to Hit Six-Month High in June, EIA Says

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

U.S. oil output from top shale-producing regions will rise in June to its highest in six months, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday.Production in the top basins will reach 9.85 million barrels per day (bpd), its highest since December, the EIA said. Shale production, which represents …

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Exxon, Chevron CEOs Seek Clear Rules on U..S Clean Energy Subsidies

Carbon Capture, Energy Storage, Energy Topics & Technology, Environment, Hydrogen, Latest, Pinned Primary, US News / By

Top executives at U.S. oil giants Exxon Mobil and Chevron Corp said on Monday that the U.S. needs to clarify rules on energy subsidies to drive the rapid, large-scale investments needed to fight climate change. President Joe Biden has been trying to encourage energy producers to slash emissions using technologies like carbon capture and green hydrogen that are expensive …

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After the Deal: Exxon to Take up to Two Years to hit Stride with Pioneer Purchase

Energy Topics & Technology, Exploration & Production, Latest, Pinned Primary / By

Exxon Mobil will take 18 to 24 months to achieve its desired production synergies from its $60 billion purchase of U.S. shale oil producer Pioneer Natural Resources, the company’s top shale executive said on Friday. Exxon this week closed all-stock acquisition after agreeing to an antitrust consent order that barred the former Pioneer CEO from joining …

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ExxonMobil Completes Acquisition of Pioneer Natural Resources

Energy Topics & Technology, Latest, Mergers and Acquisitions, Pinned Primary, US News / By

Transforms ExxonMobil’s upstream portfolio by more than doubling the company’s Permian footprint Combines Pioneer’s sizeable acreage, entrepreneurial culture and deep industry expertise with ExxonMobil’s balance-sheet strength, advanced technologies and industry-leading project development capabilities Transitions Pioneer’s 2050 net-zero Permian goal to a 2035 plan SPRING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE: XOM) today announced it has closed its …

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FTC’s Surprise Attack on U.S. Oil Icon Rattles Shale Sector

CDN and International News, Latest, Oil, Pinned Primary, US News / By

Antitrust regulators cited former CEO’s email, dinner partners Exxon agrees to exclude Pioneer Natural founder from board Bloomberg The Federal Trade Commission’s allegations that shale trailblazer Scott Sheffield tried to collude with OPEC to prop up crude prices is unnerving US oil executives pursuing more than $100 billion in deals. While Thursday’s green light from the FTC …

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Texas Operators Turn to Flaring Amid Weak Gas Prices

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

(Reuters) – Operators drilling for oil in Texas are scrambling to dispose of their excess natural gas amid a supply glut and weak prices, prompting an uptick in flaring requests. The Railroad Commission of Texas (RRC), which regulates the state’s oil and natural gas industry, last week approved 21 exemption requests from operators, mostly in …

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OP-ED: It’s About Reducing Emissions, Not Oil Demand – OPEC Secretary General Haitham Al Ghais

CDN and International News, Conventional Energy, Energy Commentary, Energy Topics & Technology, Latest, Natural Gas, Oil, Pinned Primary / By

The pace at which global energy demand is growing means that alternatives cannot replace oil at the necessary scale writes OPEC Secretary General Haitham Al Ghais. Rather than calling for an end to oil, the focus should be on reducing emissions. OPEC Secretary General Haitham Al Ghais A recent report on oil demand by The …

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COP29 Host Azerbaijan Says Its Fossil Fuel Is ‘Gift of the Gods’

CDN and International News, Conferences, Conventional Energy, Events, Latest, Oil, Pinned Primary / By

President Aliyev commits to boosting investments in gas Country also touts its rollout of green energies this decade Azerbaijan, host of this year’s COP29 climate summit, will continue to invest in increasing gas production in order to feed demand from Europe as its president said that its abundant fossil fuels were a “gift of the …

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Oil Slips Despite Reported Israeli Attack on Iran

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

(Reuters) – Oil slipped on Friday after prices spiked earlier on reports that Israel had attacked Iran as market fears of a major escalation to hostilities in the Mideast appeared to ease. After the benchmark contracts jumped more than $3 in the session, Brent futures were down 46 cents, or 0.5%, at $86.65 a barrel …

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