Friday, January 10, 2025

Private Equity Group Snatches Occidental’s Bakken Assets for $500 Million: Reuters

Reuters reports that Occidental Petroleum (ticker: OXY) is leaving the Williston Basin, announcing a $500 million sale with Lime Rock Resources for its 303,000 net acres. The deal, if finalized, equates to just $1,650 per net acre, roughly half of Capital One Securities’ estimated value of approximately $3,300 per net acre. Other agencies believed the region held roughly $3.0 billion

At Florida Energy Summit, the fuel of focus was… coal

Story by the Jacksonville Business Journal Jacksonville may be focused on renewable energy, electric vehicles and natural gas, but at the Florida Energy Summit, the keynote address was on how all forms of energy — including coal and other forms of fossil fuels — can be used to the U.S.’s benefit. The guest speaker, Christopher Guith, vice president for policy

Where there is no Pipeline, Trucks deliver NatGas to Fuel International Paper

Story by the Vermont Business Magazine Colchester-based NG Advantage LLC, a majority-owned subsidiary of Clean Energy Fuels Corp. (NASDAQ: CLNE), today announced that it has signed an 18 month contract extension with International Paper. Under this extension, NG Advantage will continue delivering clean-burning compressed natural gas (CNG) to International Paper’s Ticonderoga, NY, paper mill using its “virtual or mobile pipeline”

Global Oil Markets: Saudi Arabia Looks to Pick Up Russia’s Share of Europe

As competition in Asia increases, Saudi Arabia turns to European Buyers As competition in Asia has become increasingly fierce as producers look to gain the largest possible foothold in the world’s fast growing markets. The fight for market share is so intense that the world’s largest crude oil exporter, Saudi Arabia, has been forced to reduce supplies to Asian markets