Phillips 66 on Monday agreed to acquire Pinnacle Midland, a midstream company owned by private equity firm Energy Spectrum Capital, for $550 million in cash, expanding the U.S. refiner’s natural gas gathering and processing footprint in the Midland Basin. Oil and gas producers in the United States went on a nearly $250 billion buying spree …
Phillips 66 to Buy PE-Owned Pinnacle Midland for $550 Mln Read More »
Crude oil tanker Dubai Angel on Monday moored at the Westridge Marine Terminal in Vancouver, preparing to load the first cargo of crude oil from the recently expanded Trans Mountain pipeline (TMX), ship tracking data showed. Chartered by Canadian oil producer Suncor Energy, the Marshall Islands-flagged vessel was expected to load about 550,000 barrels of …
First Canadian Oil Export Cargo from Expanded Trans Mountain Pipeline Set to Load Read More »
Here’s a roundup of the latest E&P headlines, including development of the Belinda Field in the North Sea to new contract awards and service company acquisitions.
IPAA Chairman and Elevation Resources CEO Steve Pruett shared insight on industry’s concerns over regulations carried out by an “alphabet soup” of agencies from the Environmental Protection Agency to the Federal Trade Commission.
Following the transaction’s close, Overseas Shipholding Group Inc. will operate as a standalone business unit within Saltchuk.
Joe Foran built the Matador Resources brand from friends-and-family financing into an $8 billion company. Foran, Matador’s chairman and CEO, still sees a long runway for growth in the Delaware Basin.
APA Corp. and subsidiary Apache are selling more than $700 million in non-core assets in the Permian Basin and Eagle Ford Shale—part of a plan to reduce debt after a $4.5 billion acquisition of Callon Petroleum.
The United Arab Emirates’ ADNOC will acquire a 11.7% equity stake in Phase 1 of NextDecade Corp.’s Rio Grande LNG (RGLNG) project from Global Infrastructure Partners (GIP), while also entering an offtake agreement for 1.9 mtpa from the Texas export facility.
U.S. economic activity, geopolitical uncertainty in the Middle East and the U.S.’ recent hike in Chinese EV import duties all have a hand in the sway of oil prices this week.
CalPERS, the biggest public pension plan in the United States, said on Monday it would vote against all Exxon Mobil board members at its upcoming annual meeting on May 29, citing the oil major’s legal action against activist investors. Exxon, which is frequently the focus of critical shareholder resolutions, had filed a lawsuit earlier this year …
