Fracking

Fervo Energy doubling down on geothermal

Fervo Energy, a Houston-based startup, is on a mission to significantly increase the share of geothermal energy in the United States, aiming for around 20% of the country's power supply. Using innovative drilling techniques borrowed from the oil and gas industry, Fervo digs deep into the Earth, reaching depths of approximately 8,000 feet. From there, it creates horizontal tunnels extending about 3,000 feet, forming loops where water is added to generate steam. This steam then drives turbines, producing electricity. In late 2023, Fervo Energy launched its first power plant in the desert of northern Nevada, in collaboration with Google, which has invested in the company as part of its commitment to achieve carbon neutrality by the end of the decade. While solar and wind energy sources are abundant and cost-effective, they lack the consistent output of dispatchable electricity provided by hydropower, hydrogen, and nuclear sources.... > read more

ExxonMobil leads

Recent consolidation activity in the energy sector has led to the emergence of larger companies with increased ownership of producing assets, as highlighted by the Energy Information Administration. According to data cited by the EIA from Evaluate Energy, if both the proposed deals involving Exxon and Chevron are finalized successfully, ExxonMobil could potentially become the largest producer of crude oil and natural gas liquids in the United States. The company's projected output could reach approximately 1.3 million barrels per day, constituting nearly 7 percent of the total U.S. production. This would position ExxonMobil ahead of the current leader in production, Chevron.... > read more

Weyerhaeuser and Lapis Energy announce

Weyerhaeuser Company and Lapis Energy LP have recently announced the signing of an exclusive exploration agreement for subsurface carbon dioxide sequestration in Arkansas, Louisiana, and Mississippi. This agreement covers 187,500 acres of subsurface rights owned by Weyerhaeuser and encompasses five potential sequestration sites, including two locations previously identified by Weyerhaeuser as promising opportunities for carbon capture and sequestration (CCS) development. During the two-year exclusive agreement, Lapis will assess the sequestration potential of each site. Once the technical and commercial evaluations are successfully completed, Lapis will have the option to advance the sites into full-scale development agreements. This will involve obtaining the necessary permits, constructing the facilities, and operating permanent CO2 sequestration sites that cater to large-scale industrial sources... > read more

Diamondback Energy and Endeavor Energy merge

In a major development, Diamondback Energy, Inc. and Endeavor Energy Resources, L.P. have announced their merger in a definitive agreement valued at approximately $26 billion, including Endeavor's net debt. This merger will create a leading independent operator in the Permian region. Under the terms of the agreement, the transaction consideration will comprise approximately 117.3 million shares of Diamondback common stock and $8 billion in cash, subject to customary adjustments. The cash portion of the consideration is expected to be funded through a combination of cash on hand, borrowings, and proceeds from term loans and senior notes offerings. After the merger, Diamondback's existing stockholders are anticipated... > read more

Archer awarded contracts worth USD 125 million

Archer, a global provider of drilling services, is pleased to announce that its subsidiary in Argentina has been awarded additional drilling contracts worth a total of USD 125 million by Pan American, a leading player in the oil and gas industry in Argentina. One of the contracts is a 2.5-year extension for three drilling rigs operating in Pan American's Cerro Dragon Field. This extension, which comes with improved commercial terms, has a value of approximately USD 100 million and will run until the fourth quarter of 2027. The contract extension demonstrates Pan American's confidence in Archer's ability to deliver safe and cost-effective drilling operations... > read more

Prev Next

Crescent Point announces acquisition

Crescent Point Energy Corp. is pleased to announce that it has entered into an agreement with Spartan Delta Corp. to acquire...
> read more

Schlumberger and RTI NAS Tech Scale Up

Schlumberger has entered into an agreement with RTI International, a non-profit research institute, to accelerate the industrialization...
> read more

North America Drops Another Rig

North America dropped another rig week on week, according to Baker Hughes’ latest rig count, which was published on October...
> read more

Fracking News

Fervo Energy doubling down on geothermal

Fervo Energy, a Houston-based startup, is on a mission to significantly increase the share of geothermal energy in the United ... > read more

ExxonMobil leads

Recent consolidation activity in the energy sector has led to the emergence of larger companies with increased ownership ... > read more

Weyerhaeuser and Lapis Energy announce

Weyerhaeuser Company and Lapis Energy LP have recently announced the signing of an exclusive exploration agreement for subsurface ... > read more

Fervo Energy drilling results show

Exciting advancements in the geothermal industry have been unveiled at the Stanford Geothermal Workshop, where Fervo Energy ... > read more

Diamondback Energy and Endeavor Energy merge

In a major development, Diamondback Energy, Inc. and Endeavor Energy Resources, L.P. have announced their merger in a definitive ... > read more

Archer awarded contracts worth USD 125 million

Archer, a global provider of drilling services, is pleased to announce that its subsidiary in Argentina has been awarded ... > read more

Fracking News

Eavor announces

Eavor Technologies Inc.,a pioneer in the field of advanced geothermal energy solutions have announced the successful completion ... > read more

ExxonMobil announces merger

Exxon Mobil Corporation and Pioneer Natural Resources jointly announced a definitive agreement for ExxonMobil to acquire ... > read more

National Drilling Company signs contract

As part of the agreement, Schlumberger will provide support to the National Drilling Company in drilling three wells for ... > read more

SilverBow Resources announces acquisition

SilverBow Resources, Inc. have announced that it has entered into an agreement to acquire Chesapeake Energy Corporation’s ... > read more

NOG provides update on 2023

Northern Oil and Gas, Inc. have provided an update to 2023 guidance and a preliminary second quarter financial and operational ... > read more

SLB awarded five year contract

SLB has been awarded a five-year contract by Petrobras for an enterprise-wide deployment of its Delfi™ digital platform. ... > read more

Fracking News

Hess electrifies Bakken Rigs

Hess Corporation has replaced diesel fuel with electricity to power its four Bakken drilling rigs – a project that over ... > read more

GA Drilling emphasizes advancements

GA Drilling mentioned Eavor as one of Canada’s leading Advanced Geothermal Systems (AGS) in a LinkedIn article. The ... > read more

NOG announces joint acquisition

Northern Oil and Gas, Inc. has announced that it has entered into a definitive agreement to acquire a 33.33 percent undivided ... > read more

Earthstone Energy announces

Earthstone Energy, a US-based oil and gas exploration and production company, has announced plans to acquire Novo Oil & Gas ... > read more

NOG announce joint acquisition of Forge Energy

Northern Oil and Gas, Inc. have announced that it has entered into a definitive agreement to acquire a 30 percent undivided ... > read more

Ovintiv to acquire core Midland Basin assets

Ovintiv Inc. has announced it has entered into a definitive purchase agreement to acquire substantially all leasehold interest ... > read more

Fracking News

Crescent Point announces acquisition

Crescent Point Energy Corp. is pleased to announce that it has entered into an agreement with Spartan Delta Corp. to acquire ... > read more

Marathon Oil announces agreement to develop

Marathon Oil Corporation, through its affiliated company Marathon E.G. Holding Limited, announced it has signed a Heads of ... > read more

Callon Petroleum Company announces retirement

Callon Petroleum Company has announced L. Richard Flury's intention to retire from the Board of Directors following the 2023 ... > read more

Intertek to Provide Auditing Services

Intertek, a leading Total Quality Assurance provider to industries worldwide, is proud to announce that it is accredited ... > read more

American Robotics announce

Ondas Holdings Inc. a leading provider of private wireless data, drone, and automated data solutions through its wholly owned ... > read more

Brenntag acquires Tech Management

Brenntag, the global market leader in chemicals and ingredients distribution, has announced the acquisition of Tech Management ... > read more