EOG Resources Cuts $200MM in Oily Capex on Tariff, OPEC+ Uncertainty
EOG Resources’ spending cuts will result in 80 fewer net completions and three fewer rigs, year-over-year, in the Eagle Ford and Delaware and Powder River basins.
US Natgas Prices Fall on Market Talk That Freeport LNG Export Plant in Texas Shut
(Reuters) – U.S. natural gas futures prices declined on Tuesday on market talk that U.S. liquefied natural gas company Freeport LNG’s export plant in Texas is shut. Officials at Freeport declined to comment. Freeport is one of the most closely watched LNG export plants in the world because the start and stop of its operations …
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Ovintiv Reports First Quarter 2025 Financial and Operating Results
Continued Maintenance Investment to Drive Free Cash Flow; High-Graded Portfolio Bolsters Financial Resiliency Highlights: Generated cash from operating activities of $873 million, Non-GAAP Cash Flow of $1,004 million and Non-GAAP Free Cash Flow of $387 million after capital expenditures of $617 million First quarter oil and condensate production was above the guidance range at 206 thousand barrels per day (“Mbbls/d”) Average …
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Ex-Parsley Team Re-Ups with Greenlake Energy II, Delaware Deal
NGP’s initial investment in Greenlake Energy II, headed by former Parsley Energy executives, includes closing an initial acquisition in the Delaware Basin.
SLB OneSubsea, Subsea7 Secure EPCI for BP’s Ginger Project
SLB OneSubsea and Subsea7 were awarded an engineering, procurement, construction and installation contract for BP’s Ginger project off the southeast coast of Trinidad.
The Future Remains Bright for Offshore Oil and Gas, Rystad Says
In the midst of a global energy transition, offshore oil and gas production continues to not only be viable, but essential, says Rystad Energy.
Devon Sells Matterhorn Express Pipeline Stake for $375MM
Devon Energy will sell its 12.5% stake in the Matterhorn Express following a report that I Squared Capital was interested in buying a majority stake in the pipeline.
IOG Resources Forms Third Vehicle Focused on Non-Op M&A
IOG Resources III Holdings LLC, again backed by First Reserve, has an investment target ranging from approximately $50 million to $200 million.
US SAF, Biofuels Output Nearly Doubled in Three Months—EIA
U.S. production of sustainable aviation fuel (SAF) is growing exponentially as major new projects ramp up.
Coterra Confirms Constitution Pipe Reactivation Talks Underway
The Constitution gas line into New England was canceled in 2020 after lengthy regulatory and court battles. Coterra Energy’s chief confirmed May 6 that talks to resume it are “seriously” underway.