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Diamondback Energy Raises Third-Quarter Production Forecast

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

(Reuters) – U.S. shale producer Diamondback Energy raised its third-quarter production forecast on Tuesday to reflect its $26 billion acquisition of Endeavor Energy. The Texas-based company completed its acquisition of Endeavor Energy last month, making it the third-largest oil and gas producer in the top U.S. shale region, the Permian Basin, putting it just behind industry giants Exxon …

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Natgas Producer EQT Corp to Lay Off 15% of Workforce

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

EQT Corp said on Tuesday it would lay off about 15% of its workforce as part of an “integration process” following its $14 billion acquisition of Equitrans Midstream. This marks the natural gas producer’s biggest job cut since 2019, when it laid off about 23% of its workforce just months after Toby Rice joined the …

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Berkshire Hathaway Buys Full Control of its Energy Unit

Latest, US News / By

By Jonathan Stempel Berkshire Hathaway Energy repurchasing Scott family stake Berkshire stake in energy unit will rise to 100% from 92% Analysts expected buyout, price appears lower than forecast Oct 1 (Reuters) – Berkshire Hathaway (BRKa.N) will take full ownership of Berkshire Hathaway Energy, after the unit of Warren Buffett’s conglomerate agreed to acquire the …

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LNG Supplier New Fortress Falls After Delaying Dividend Paymen

Conventional Energy, Latest, LNG, US News / By

Company delays payout as it seeks agreement with debtholders Second LNG export cargo is heading to Europe, firm says Shares of New Fortress Energy Inc. plunged as much as 16% after the US-based natural gas provider delayed its dividend payment. The company founded by Wes Edens said its previously declared dividend of $0.10 a share will be delayed until it …

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Brent Oil Traders Use Little Known Rule to Reroute US Cargoes

Conventional Energy, Latest, Oil, US News / By

Summary Platts added U.S. crude to benchmark last year Thomson Reuters competes with Platts in assessing prices Rerouting could influence price, analysts say (Reuters) – Big energy merchants trading oil cargoes that form the basis of the Brent benchmark have used an obscure clause to reroute U.S. shipments from Europe, in a practice that raises …

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Siemens Energy to Pay $104 Million in DOJ Trade Secret Probe

Latest, US News / By

By Sabrina Willmer Signage stands above the entrance to a Siemens AG gas turbine factory in Berlin, Germany (Bloomberg) — A US subsidiary of Siemens Energy AG agreed to pay $104 million to resolve a criminal investigation into misappropriating confidential information from competitors to win a bidding process. The US Justice Department accused Siemens of “illicitly …

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FTC Allows Chevron-Hess Deal, Bars John Hess From Board

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

The U.S. Federal Trade Commission allowed Chevron’s $53 billion purchase of Hess Corp on Monday, in an order that barred Hess CEO John Hess from Chevron’s board. The FTC’s order leaves Exxon Mobil’s challenge to the deal, which is expected to stretch deep into next year, as its final hurdle. The proposed merger included a Chevron …

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‘It’s Not Range Anxiety, It’s Change Anxiety’: Ford Offers Free EV Chargers and Installation Worth $2,300

Electric Vehicles, Energy Topics & Technology, Latest, US News / By

Bloomberg News Ford Motor Co. is offering free home chargers and installation to buyers of its electric vehicles in a bid to boost sales and overcome range anxiety among mainstream car shoppers. The incentive program will begin Tuesday and run through the end of the year, Ford officials said in a briefing with reporters. It’s available on the …

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Flowco’s Owners Prepare to Take Oilfield Services Firm Public in 2025, Sources Say

Energy Topics & Technology, EnergyNow News and Press Releases, Latest, OFS-Oilfield Services, US News / By

  The private equity owners of Flowco have kicked off preparations for an initial public offering of the oilfield services provider that could value it at as much as $2 billion and come as early as the first half of 2025, according to people familiar with the matter. Jefferies, JPMorgan Chase and Piper Sandler have …

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