Canadian oil and gas producer Tourmaline Oil Corp. said on Nov. 4 it has acquired Jupiter Resources Ltd. in an all-stock deal valued at approximately CA$626 million (US$476.63 million), inclusive of debt. Tourmaline also said it bought Modern Resources Inc. for CA$144 million in a cash and stock deal on Nov. 2, and hopes the
Read More...U.S. oil and gas stocks rose while those of renewable energy producers fell on Nov. 4, as traders gambled that even if Joe Biden wins the White House, Democrats’ likely failure to gain control of Congress would kill plans for a clean-energy revolution. Biden has proposed $2 trillion of spending in the next four years
Read More...U.S. shale producer Marathon Oil Corp. reported a fourth straight quarterly loss on Nov. 4, as the COVID-19 pandemic hammered demand for fuel and dented crude prices. U.S. oil prices have plunged 38% this year as the virus outbreak led to grounding of flights and brought economies to a standstill, but with the easing of
Read More...New Jersey Gov. Phil Murphy on Nov. 4 signed into law a ban on retail bags and expanded polystyrene foodservice containers and cups, a measure his office called the country’s strongest ban on bags. The law bans both plastic and paper single-use bags from stores and food service businesses starting in May 2022, as well
Read More...French gas and power utility Engie SA has pulled out of a major U.S. LNG import deal after government concerns about its environmental implications. Late last month the French government had asked Engie to hold off from signing the deal with NextDecade Corp. amid growing scrutiny of the effects of shale gas extraction methods such
Read More...The following information is provided by EnergyNet. All inquiries on the following listings should be directed to EnergyNet. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions. Phoenix Capital Group Holdings LLC retained EnergyNet for the sale of packages of producing mineral and royalty interests within the Williston Basin in North
Read More...After a year of unprecedented challenges from COVID-19, the world polyethylene resin market is looking at a period of excess capacity. That’s the outlook of Nick Vafiadis, plastics vice president with Houston-based IHS Markit. Vafiadis spoke Oct. 22 as part of the 2020 Global Plastics Summit. The virus slowed both PE demand and capacity growth,
Read More...Texas Railroad Commissioner Wayne Christian (top left), Chairwoman Christi Craddick and Commissioner Ryan Sitton (bottom left) prepare to vote during a Nov. 4 meeting after hearing from Paul Dubois, assistant director for technical permitting in the RRC’s oil and gas division. (Source: RRC/AdminMonitor) This post appeared first on Hart Energy.
Read More...Here’s a snapshot of recent energy deals including the closing of Warren Buffet’s Berkshire Hathaway acquisition of the Dominion gas business worth nearly $10 billion acquisition plus the sale of Schlumberger’s rod-lift business to Lufkin Industries and NuStar Energy’s agreement to sell Texas City terminals for $106 million. This post appeared first on Hart Energy.
Read More...A team of University of Akron polymer science faculty members recently earned more than $2 million in research funding from the U.S. Department of Energy. The award will go toward efforts to “develop new recyclable plastics to address the challenges in plastic sustainability,” according to a release from the university. It’s part of the department’s
Read More...Location/Play Seller Agent BidDue Date CO, Bent, Cheyenne & Kiowa Cos. Delta Minerals LLC EnergyNet 11/5/20 ND, Divide County (Williston Basin) MORE Future Acquisition North Dakota LLC; Future Gathering North Dakota LLC TenOaks Energy Advisors LLC 11/5/20 WY, Campbell, Converse, Crook, Johnson & Weston Cos. (Powder River Basin) MORE Pathfinder Energy Inc.; Wellstar Corp. Oil & Gas
Read More...The effect of the coronavirus pandemic on Latin America’s oil market and a pullback in spending by oil companies prompted analysts to revise down expected 2020 oil production by about 550,000 bbl/d for the region. The downward revision by Rystad Energy analysts came as both national oil companies (NOCs) and independents deferred some new development,
Read More...Berlin Packaging LLC is taking another dip into manufacturing with the acquisition of a Canadian packaging distribution company that has plastics molding operations. Berlin Packaging, a Chicago-based company that distributes glass, plastic and metal containers sourced from more than 900 suppliers, announced the deal Nov. 3. Terms were not disclosed. Berlin Packaging highlighted that the
Read More...During the Williams third-quarter 2020 update yesterday, CEO Alan Armstrong shared some very interesting, and relevant (to the Marcellus/Utica) comments. Armstrong said that two important pipeline projects to carry M-U gas to other markets, the Southeastern Trail expansion project and the Leidy South project, are both in the midst of coming online–ahead of schedule.This post
Read More...Equitrans Midstream, the lead partner and builder of the 303-mile Mountain Valley Pipeline (MVP) project, announced yesterday it has (once again) pushed back the in-service date for the pipeline, from 1Q21 to the second half of 2021 (meaning by December), and pushed up the cost of the project, from $5.4 billion to as high as
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