Positive Industry News and Events
Upstream
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CNX Closes $505 Million Acquisition of Apex Energy
PITTSBURGH, Jan. 27, 2025 /PRNewswire/ — CNX Resources Corporation (NYSE: CNX) (“CNX” or “the company”) announced today it has closed the acquisition of the natural gas upstream and associated midstream business of Apex Energy II, LLC (“Apex”), a portfolio company of funds managed by Carnelian Energy Capital Management, L.P. (“Carnelian”), in the Appalachian Basin for […] More
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Trump’s Executive Orders to Reshape of U.S. Energy Industry
On his first day in office, President Donald Trump issued a series of executive orders aimed at jumpstarting the U.S. energy sector, rolling back policies from the previous administration that restricted fossil fuel development. These orders are set to have a profound impact on the energy industry, particularly in revitalizing liquefied natural gas (LNG) projects […] More
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Trump Prioritizes U.S. Energy Expansion and Suspends Offshore Wind Project
On his first day back in presidency, Donald Trump issued executive orders revoking several previous directives related to energy development, signaling a shift in U.S. policy toward fossil fuel exploration. These orders reopened more than 16 million acres of protected land and lifted restrictions on oil and gas drilling across 625 million acres of coastal […] More
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Chevron Bolsters U.S. Gulf of Mexico Production With Whale Facility Startup
Houston, Texas, January 9, 2025— Chevron Corporation (NYSE: CVX) today announced the start of oil production from the Whale semi-submersible platform in the deepwater U.S. Gulf of Mexico. Chevron U.S.A. Inc., a wholly owned subsidiary of Chevron Corporation, owns 40% working interest in Whale, with Shell Offshore Inc. owning 60% interest as operator. The milestone […] More
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Shell starts production at Whale in the US Gulf of Mexico
Houston − Shell Offshore Inc. (Shell), a subsidiary of Shell plc, announced that production has started at the Shell-operated Whale floating production facility in the Gulf of Mexico. Whale replicates the simplified, cost-efficient host design of the Vito platform, which began production in early 2023. The Whale development is owned by Shell Offshore Inc. (60%, operator) and Chevron U.S.A. […] More
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$231mm ACQUISITION: Kimbell Royalty Partners, LP Announces $231 Million Midland Basin Acquisition in Cash and Unit Transaction
Oil and natural gas royalty interests located under the prolific Mabee Ranch in the Core of the Midland Basin on over 68,000 gross acres HIGHLIGHTS Expected to be immediately accretive to distributable cash flow per unit, with estimated acceleration of accretion over the next 5 years Targeted oil and natural gas mineral and royalty interests located under […] More
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Vermilion Energy Inc. Announces Strategic Deep Basin Acquisition
CALGARY, AB, Dec. 23, 2024 /CNW/ – Vermilion Energy Inc. (“Vermilion”, or the “Company”) (TSX: VET) (NYSE: VET) is pleased to announce it has entered into an arrangement agreement (the “Arrangement Agreement”) to acquire Westbrick Energy Ltd. (“Westbrick”), a privately held oil and gas company operating in the Deep Basin, for total consideration of $1.075 billion by way of a […] More
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Verde Clean Fuels Secures $50M Investment from Diamondback Energy Subsidiary
Cottonmouth and Verde have entered into an agreement for a $50 million equity investment through the purchase of 12.5 million shares of Verde Class A common stock by Cottonmouth at a purchase price of $4.00 per share Closing of the investment is anticipated to occur during Q1 2025, subject to satisfaction of customary closing conditions […] More
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ConocoPhillips Alaska Achieves First Oil at Nuna
ConocoPhillips Alaska announced the successful production of first oil from the Nuna drillsite 3T, in the Kuparuk River Unit (KRU), on Alaska’s North Slope this month. According to the company, the achievement was ahead of schedule and under budget. This marks the 49th drillsite developed within the KRU and the first new drillsite in the […] More
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BREAKING INEOS Energy to acquire oil and gas assets in US Gulf of Mexico from CNOOC Energy Holdings USA
The third major investment by INEOS Energy in the USA, in the past three years. Capital spend on energy assets in the USA now exceeds $3bn, providing a strong platform for future growth. Deal includes interest in two high quality deep water early production assets (Appomattox and Stampede) in the Gulf of Mexico. Increases INEOS […] More
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Well, Well, Well: Delivering results in New Mexico
Well, Well, Well: Delivering results in New Mexico We’ve drilled and completed 1,000 horizontal wells in the New Mexico Delaware Basin since 2017. We’ve enhanced efficiency and resource recovery in the Permian through technology. The Pioneer merger expanded our contiguous acreage in the Permian, boosting technology deployment opportunities. Since 2017, we’ve drilled and completed 1,000 horizontal wells in the New Mexico […] More
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Shell takes investment decision for Phase 3 Silvertip project in the US Gulf of Mexico
Houston, Texas – Shell Offshore Inc., a subsidiary of Shell plc (Shell), announced a Final Investment Decision (FID) on the Phase 3 Silvertip project, which will deliver two wells to boost production at the Shell-operated Perdido spar in the US Gulf of Mexico (GoM). These wells, located in the Silvertip Frio reservoir (Shell – 40%, operator; Chevron 60%), […] More
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ExxonMobil announces plans to 2030 that build on its unique advantages
Key elements of ExxonMobil’s 2030 plan: Increasing Pioneer acquisition average annual synergies by over 50% to more than $3 billion Growing new business earnings potential to $3 billion Adding $7 billion more in structural cost savings vs. 3Q2024 Increasing Upstream production to 5.4 million oil-equivalent barrels per day with >60% from advantaged assets Growing high-value […] More
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Chevron announces 2025 capex budget & 4Q24 interim updates
San Ramon, Calif., Dec. 5, 2024 — Chevron Corporation today announced an organic capital expenditure range of $14.5 to $15.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) range of $1.7 to $2.0 billion for 2025. The company’s 2025 capex and affiliate capex budgets represent a $2 billion year-over-year reduction. “The 2025 […] More
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Woodside’s Trion Development Achieves Key Milestone
Woodside Energy has reached a significant milestone in its Trion Development offshore Mexico with the start of steel fabrication for the semi-submersible floating production unit (FPU). The steel-cutting ceremony took place in November, 2024, at the HD Hyundai Heavy Industries (HHI) facility in Ulsan, South Korea. This event marks the start of a multi-year construction […] More
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$505mm Deal: CNX Announces Strategic Bolt-On Acquisition
December 05, 2024 PITTSBURGH, Dec. 5, 2024 /PRNewswire/ — CNX Resources Corporation (NYSE: CNX) (“CNX” or “the company”) announced today it has entered into a definitive agreement to acquire the natural gas upstream and associated midstream business of Apex Energy II, LLC (“Apex”), a portfolio company of funds managed by Carnelian Energy Capital Management, L.P. […] More
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Crescent Energy Announces Accretive Central Eagle Ford Bolt-On
December 03, 2024 04:12 PM Eastern Standard Time HOUSTON–(BUSINESS WIRE)–Crescent Energy Company (NYSE: CRGY) (“Crescent” or the “Company”) today announced the signing of a definitive agreement to acquire Eagle Ford assets from Ridgemar Energy for upfront consideration of $905 million plus future oil price contingent consideration, subject to customary purchase price adjustments. The acquisition is […] More
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Petrobras Unveils Business Plan 2025-2029, Forecasting $111 Billion in Investments
Petrobras approved the Strategic Plan 2050 (SP 2050) and Business Plan 2025-2029 (BP 2025-29) during a board directors meeting held on November 21. The SP 2050 focuses on the Brazilian company’s long-term aspirations, while the BP 2025-29 outlines actionable short and medium-term objectives to guide the company toward its vision for 2050, forecasting $111 billion […] More
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