Report: ConocoPhillips Shopping Delaware Basin Assets for $1B Sale
ConocoPhillips has laid out a $2 billion divestiture campaign to reduce debt from a blockbuster acquisition of Marathon Oil. This post appeared first on Hart Energy.
Read More...Brazil’s Mero-3 Offshore Development Reaches First Oil
With the start-up of Mero-3, the production capacity of the Mero field has reached 590,000 bbl/d. This post appeared first on Hart Energy.
Read More...EQT Sells Remaining Nonop Assets in NE Pa. for $1.25 Billion
As part of its third quarter update, EQT Corporation, now the second-largest natural gas producer in the U.S., dropped the bombshell that it has completely divested from the remaining non-operated wells it owns in northeastern Pennsylvania, selling the assets to Norwegian company Equinor (formerly known as Statoil) for $1.25 billion. You may recall in April,…
Read More...Blackstone Seeks to Buy Pipeline Stake from EQT for $3.5 Billion
Last Friday, Reuters reported that sources “familiar with the matter” whispered to its reporters that private equity firm Blackstone is “in advanced talks” to acquire minority stakes in the interstate natural gas pipelines now owned by EQT Corp. (following its purchase of Equitrans Midstream) for a whopping $3.5 billion. The deal would help EQT reduce…
Read More...Utica Shale Play Resurgence is Real – It’s Time to Get Excited!
Guy Coviello, President and CEO of the Youngstown/Warren Regional Chamber of Commerce, is jazzed about the resurging Utica Shale and says it’s time to get excited about it. In a recent column, Coviello said it’s time “to once again embrace our friends in the oil and gas industry, for our policymakers to invest in the…
Read More...Antis Opposed to Gas-Fired Plant Near Richmond Hold Fake Hearing
Dominion Energy plans to build four small “peaker” electric generating plants in Chesterfield County, VA, near Richmond (see Dominion Plans to Build 1,000-MW Gas Peaker Plant Near Richmond, VA). The Chesterfield Energy Reliability Center (CERC) calls for building four 250-megawatt gas-fired power plants (1,000 MW total) that can jump into action during the coldest and…
Read More...Biden-Harris DOE Approves LNG Exports from TX Using ISO Containers
Here is an interesting story about the Biden-Harris Department of Energy (DOE) “pause” in approving new LNG export projects. You may recall that in January, the Biden-Harris DOE announced it would “pause” any approvals for new LNG export plants (currently 15 requests in the pipeline) for at least one year while D.C. swampies fart around…
Read More...US Offshore Wind Lease Sale Brings in Nearly $22MM in Winning Bids
Avangrid Renewables and Invenergy were the two provisional winners of four lease areas, according to the Bureau of Ocean Energy Management. This post appeared first on Hart Energy.
Read More...Report: Colonial Pipeline Considering $10B Sale
Colonial owns a 5,500-mile pipeline network which carries more than 100,000 gallons of fuel to an area stretching from Houston to New Jersey. This post appeared first on Hart Energy.
Read More...Exclusive: TPL Eyes Midland Growth to Replicate Delaware Basin Success
Texas Pacific Land CFO Chris Steddum discusses the company’s approach to acquisitions in both the Delaware and Midland basins, and TPL’s selective strategy when evaluating deals, in this Hart Energy Exclusive interview. This post appeared first on Hart Energy.
Read More...EQT Sells Remaining Pennsylvania Non-op Assets to Equinor for $1.25B
EQT’s Northeast Pennsylvania divestiture to Equinor is the second deal between the two companies this year following a large swap of Marcellus assets in April. This post appeared first on Hart Energy.
Read More...Quantum Raises $10B for Oil, Gas, Midstream, Energy Transition
Quantum Capital Group raised $5.25 billion for its private equity flagship, Quantum Energy Partners VIII. A source told Hart Energy that most of the firm’s capital has gone into oil and gas because it offers the best risk-adjusted returns. This post appeared first on Hart Energy.
Read More...Massive Data Center with 3,500 MW Gas-Fired Plant Proposed for Va.
We are super excited to bring you the news that Balico, LLC has proposed building a gigantic, massive data center in Pittsylvania County, Virginia. Sound familiar? We’ll get to the location in a moment. The data center would be powered by its own on-site gas-fired power plant complex, with 15 30-MW Mitsubishi gas turbines. Truly…
Read More...Weather Whacks NYMEX Futures Price – Lost $0.25 Yesterday to $2.31
Yesterday, the NYMEX natural gas futures price for the “front month” (November) contract and the next contract in line to take over after today (the December contract) both dropped like a rock. The November contract (called the prompt month) dropped 25.1 cents to close at $2.309/MMBtu. The December contract, which becomes the prompt month tomorrow,…
Read More...PA DEP Still Hasn’t Cleared 33% of Permit Backlog (640 Permits)
Permitting in Pennsylvania overseen by the Dept. of Environmental Protection (DEP) has been a hot mess for years. A Chapter 102 Erosion and Sedimentation permit sometimes takes two, three, or even six months for approval — instead of the law-mandated 14 days. It got so bad that in the fall of 2019, PA State Sen….
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