Fracking

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

Eavor announces

Eavor Technologies Inc.,a pioneer in the field of advanced geothermal energy solutions have announced the successful completion of $182 million in financing. This significant investment will enable Eavor to accelerate the development and deployment of its revolutionary geothermal technology. The equity round was led by OMV AG, with participation from Canada Growth Fund, Japan Energy Fund, Monaco Asset Management and Microsoft’s Climate Innovation Fund. Existing investors BDC, bp Ventures, Eversource Energy, Temasek and Vickers Venture Partners contributed and supported the funding round, while Chubu Electric Power Co., Inc. completed the conversion of their debentures... > read more

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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...
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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...
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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...
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PETRONAS Uses Halliburton Tech

Halliburton Company has said the implementation of the Halliburton Digital Well Program® and Digital Well Operation DecisionSpace® ... > read more

Shale Mogul’s $975 million from BP

Daniel Rice stands to receive about $975 million in cash from the sale of Archaea Energy, a renewable gas giant he helped ... > 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

Permian Output to Hit Record in November

Oil output in the Permian in Texas and New Mexico, the biggest US shale oil basin, is forecast to rise by about 50,000 barrels ... > read more

Deal to Take Continental Private

Continental Resources has said it has agreed to be taken private by billionaire-founder Harold Hamm in a deal that would ... > read more

BP Targets North Sea and US Shale

BP is targeting the North Sea and US shale basins to boost oil and gas supplies in the short term in response to the global ... > read more

Previous Fracking News

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

Argentinian Shale’s Bottleneck Problems

Activity levels are at all-time highs in Argentina's prime oil and gas producing region, but equipment and transport bottlenecks ... > read more

Eden’s Reservoir Stimulation Technology

Petroleum Development Oman (PDO) recently contracted with Eden GeoPower, a Massachusetts-based geotechnical firm, for the ... > read more

Blackfoot Drilling License Reinstated

On Friday, September 23, a US federal judge ordered the Biden administration to reinstate a drilling lease that has been ... > read more

Tellurian LNG Project Uncertainty

Tellurian has withdrawn a $1 billion high-yield bond sale, leaving the future of its US natural gas export project in limbo ... > read more

Origin to Quit Controversial Project

Origin Energy boss Frank Calabria has denied investor pressure is prompting the energy giant to accelerate its transition ... > read more

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Kinetik and WaterBridge to Join the PSP

The Permian Strategic Partnership (PSP) has said that two new companies, Kinetik and WaterBridge, will join the Partnership, ... > read more

TGS US Gulf of Mexico Amendment Phase II

TGS, a global provider of energy data and intelligence, introduces Amendment Phase II, a continuation of its ultra-long offset ... > read more

EQT Deal Expands Its Marcellus Holdings

EQT Corp, the largest US natural gas producer, agreed to acquire a privately held competitor in a $5.2 billion deal to expand ... > read more

Liberty Energy Deny Energy Transition

On Monday, August 29, Chris Wright, Liberty Energy CEO, told Bloomberg that the US is not in the middle of an energy transition, ... > read more

Shale Output To Remain at Current Level

US shale oil drillers continue to show little sign of responding to high global prices with more production, only now it's ... > read more

Tellurian Announces EnSight Purchase Agreement

Tellurian has announced that its wholly owned subsidiary Tellurian Production (TPC) has entered into an agreement to purchase ... > read more

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North American shale operators’ ESG focus

Rystad Energy has evaluated the ESG performance of a peer group of 43 public oil and gas producers in the US and Canada, ... > read more

US Considering ConocoPhillips’ Project

The Biden administration has unveiled an environmental analysis for ConocoPhillips' planned $6 billion Willow oil and gas ... > read more

Halliburton Introduces Hedron PDC Bits

Halliburton Company introduced the new Hedron™ platform of fixed cutter polycrystalline diamond compact (PDC) drill bits. ... > read more

$Re-fracs Cheap Way To Lift US Oil Output$

Re-fracs Cheap Way To Lift US Oil Output

US shale oil producers are returning to existing wells and giving them a second, high-pressure blast to lift output for a ... > read more

‘Major Acquisition’ For Warrior

Warrior Technologies has announced the acquisition of a large division of a private Permian Basin-based firm, which will ... > read more

Dril-Quip Announces Decarbonization Targets

Dril-Quip, Inc has set its decarbonization targets to align with a 1.5°C global warming pathway and the ambitions of the ... > read more