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Vital Energy, Northern Oil and Gas Buy Point Energy Shale Assets for $1.1 Billion

Energy Topics & Technology, Latest, Mergers and Acquisitions, Shale, Tri-Pinned, US News / By

(Reuters) – Vital Energy and Northern Oil and Gas  will jointly acquire U.S. shale assets from private equity-owned Point Energy Partners for $1.1 billion, the companies said on Sunday. Vital will buy an 80% stake in the Point Energy assets, located in the Delaware patch of the Permian Basin, the heart of the U.S. shale industry that …

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Natural Gas Shows Its Staying Power as U.S. Wind Output Slumps: Maguire

Conventional Energy, Latest, Natural Gas, Renewable Energy, Tri-Pinned, Wind / By

Power producers in the United States are becoming increasingly reliant on natural gas for generation, even as the country builds out renewable energy capacity at a record pace. Renewable energy sources have been grabbing a steadily growing share of the power mix for years, which has allowed power firms to cut coal-fired power and reduce …

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Oil Falls 1.5%, Ends Week Lower on China Demand Fears

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

(Reuters) – Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that could ease Middle East tensions and accompanying supply concerns. Brent crude settled down $1.24, or 1.5%, at $81.13 a barrel. West Texas Intermediate crude ended $1.12, or 1.4%, lower at $77.16 …

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U.S. Oil/Gas Rig Count Rises in July in Biggest Monthly Hike Since Nov 2022 – Baker Hughes

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, Natural Gas, Oil, Tri-Pinned / By

(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row, boosting the monthly count by the most since November 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose …

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A Trump Presidency to Pose Mostly Bearish Risks for Oil, Citi Says

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

A Donald Trump presidency could be net bearish for oil prices due to a combination of factors including tariffs and oil-friendly policies, and pushing the Organization of the Petroleum Exporting Countries and allies (OPEC+) to release more oil into the market, Citi said in a research note on Thursday. “Trump could roll back environmental policies, …

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U.S. Democrats Launch Bill Holding Oil Firms Accountable for Any Work with OPEC

Energy Topics & Technology, Latest, OPEC, Tri-Pinned, US News / By

(Reuters) Democratic U.S. lawmakers on Wednesday introduced a bill to hold energy companies accountable if they are found by federal regulators to have colluded with the Organization of the Petroleum Exporting Countries to raise oil prices. The bill, introduced by Senator Edward Markey and Representative Nanette Barragan, says that if any energy company is found by …

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U.S. Oilfield Firms Slash Prices as Mega-Mergers Shrink Customer Base

Energy Topics & Technology, Latest, Tri-Pinned, US News / By

*Mega-mergers lead to reduced work for oilfield services companies*Smaller firms with older tech forced to lower prices to stay competitive *Mergers rise as service companies struggle to maintain customer base By Georgina McCartney HOUSTON, July 24 – A wave of mega-mergers among oil producers is forcing the U.S. service companies that drill and hydraulically fracture …

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