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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US Shale Capital Spending Increase

Increased oil and gas prices should lead to increased spending in US shale plays in 2022, with Rystad Energy projecting an ... > read more

ExxonMobil Awarded Offshore Cyprus

US giant ExxonMobil and QatarEnergy have won a prized offshore exploration block southwest of Cyprus, even as Turkey has ... > read more

Shale Drillers’ Discipline Pays Off

Shale drillers’ newfound commitment to production discipline appears to be paying off as crude plunges toward a bear market. ... > read more

Reliance Exits Shale Gas Business

Reliance Eagleford Upstream Holding LP, a wholly owned step-down subsidiary of Reliance Industries Limited (RIL), has announced ... > read more

McDermott Delivers Denmark Offshore Project

McDermott has successfully completed its first delivery with sail away on August 24, 2021 of two bridges and a flare for ... > read more

New All-Electric Fracking Solution

Halliburton and VoltaGrid have entered into a multi-year contract with Aethon Energy to deploy an advanced, all-electric ... > read more

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Electric Fracturing ‘Catching On’

Low-carbon hydraulic fracturing is gaining traction across the US. Typically, the process of fracturing shale rock formations ... > read more

SBM Offshore Loan for FPSO Almirante Tamandaré

SBM Offshore has secured a $635 million bridge loan facility for the financing of the construction of FPSO Almirante Tamandaré. The ... > read more

US Shale Producers Remain Disciplined

Most US shale producers are being conservative in their production and capital guidance, as priorities remain around protecting ... > read more

ConocoPhillips-Backed Solaris Prepares IPO

ConocoPhillips-backed Solaris Midstream Holdings, the water pipeline company serving the US oil and gas fracking industry, ... > read more

Surge Energy Highlights Green Performance

Surge Energy US Holdings Company has announced a top quartile water conservation performance in the Permian Basin. Surge ... > read more

ConocoPhillips Executes SmartFleet

Halliburton has successful executed its SmartFleet intelligent fracturing system with a major operator in the Permian Basin. “We ... > read more

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SM Reports On Sustainability

SM Energy Company has published its updated 2020 Sustainability Accounting Standards Board (SASB) report for oil and gas ... > read more

US Well Services Transitions In Q2

US Well Services, the Houston-based provider of hydraulic fracturing services and a market leader in electric fracture stimulation, ... > read more

Midland Basin Accounts For 15%

Production increases from the Permian Basin (particularly the Midland Basin) contributed to record US crude oil and natural ... > read more

Chesapeake Buys Vine

Chesapeake Energy Corporation is to acquire rival Vine Energy, an energy company focused on the development of natural gas ... > read more

FTS Back To Cash

The Fort Worth-based hydraulic fracturing company FTS International has reported a 77% sequential increase in adjusted pretax ... > read more

NexTier Acquires Alamo

NexTier Oilfield Solutions is to purchase Alamo Pressure Pumping for $268m to accelerate its next generation tech strategy. ... > read more

Previous Fracking News

Chesapeake Deploys Electric Fracturing On Marc

Halliburton and VoltaGrid have successfully deployed the first advanced electric fracturing solution, the first pad in a ... > read more

NexTier Launches Fueling Services In Permian B

NexTier Oilfield Solutions has launched its Power Solutions division, a business dedicated to providing comprehensive fueling ... > read more

GEP Partners With Project Canary

Project Canary, the leading certifier of responsibly sourced gas (RSG), has formed a pilot partnership with GEP Haynesville ... > read more

USWS Deploys Electric Fleet For Midland

US Well Services will be deploying an all-electric Clean Fleet to work for Pioneer Natural Resources Company. The electric ... > read more

Kraken II Raises $400m Investment

Kraken Resources II has received an equity commitment more than $400m from funds managed by Kayne Anderson Capital Advisors, ... > read more

Board Shuffle At Centennial

Centennial Resource Development, the independent oil and natural gas company focused on the Permian Basin, has appointed ... > read more