Onshore
Policy & Regulations , Lease Sales
Oil, Gas Groups Sue BLM to Block Increased Federal Drilling Fees
Under new U.S. Bureau of Land Management rules, royalty rates will jump to 16.67% from 12.5% and minimum lease bonds will increase to $150,000 from $10,000, which industry groups say will deter future oil and gas development.
Super DUG , Exploration & Production , Shale Plays , Acquisitions & Divestitures
SUPER DUG Shale 4.0 Era about Building Scale- Rystad
The Shale 3.0 era or capital discipline era will be followed by the Shale 4.0 era, which will see companies focused on building scale, according to Rystad Energy Senior Shale Analyst Matthew Bernstein.
Artificial Intelligence , Machine Learning , Exploration & Production , Super DUG
Quantum Capital’s View on AI: Lots of Benefits, Pain Points
The energy industry is lagging in the race to implement AI, but Sebastian Gass, CTO of Quantum Capital Group, offered a few solutions during Hart Energy’s 2024 SUPER DUG Conference & Expo.
Acquisitions & Divestitures
Crescent Energy to Buy Eagle Ford’s SilverBow for $2.1 Billion
Crescent Energy’s acquisition of SilverBow Resources will create the second largest Eagle Ford Shale E&P with production of about 250,000 boe/d, the companies said.
Promotions
PropFlow Names David Ward as CEO
As CEO, David Ward will lead and build out PropFlow’s operations of eliminating debris from proppant at well sites in the Permian Basin and other plays.
Acquisitions & Divestitures , Mergers , Trends , Shale Plays
Permian M&A: Oxy Shops Delaware Assets, Family Oil Cos. Stand Out
As operators scour the Permian Basin for M&A opportunities, they’re keeping an eye on a tepid divestiture market. Family-owned oil companies also stand out among the pack of private inventory holders remaining in the Permian, according to Enverus Intelligence Research.
Emerging Plays , Heavy Oil , Earnings
EOG: Utica Oil Can ‘Compete with the Best Plays in America’
Oil per lateral foot in the Utica is as good as top Permian wells, EOG Resources told analysts May 3 as the company is taking the play to three-mile laterals and longer.
Acquisitions & Divestitures , Gathering & Processing , Pipelines , Construction
Kinetik Launches Delaware Basin M&A Valued at $1.3B
Kinetik Holdings will buy Durango Permian infrastructure for $765 million, excluding contingency payments, and sell its interests in the Gulf Coast Express pipeline to AcrLight Capital Partners for $540 million.
Transactions , CCS/CCUS
CGG, Baker Hughes Sign MOU for CCS Projects
The memorandum of understanding between CGG and Baker Hughes will bring the companies’ complimentary skillsets together to explore carbon capture and sequestration solutions.
Pipelines , Storage , Earnings
‘Oversupplied’ NatGas Market Aiding Williams’ Storage Business
Midstream company Williams saw overall demand growth as heavy gas volumes passed through its network.