Friday, February 7, 2025

SM Energy, Oasis Announce $2.4 Billion in Deals

SM Energy adds 35,700 acres in the Midland for $1.6 billion SM Energy Company (ticker: SM) announced Tuesday that it has entered into a definitive purchase agreement to acquire 35,700 net acres in Howard and Martin Counties in West Texas, expanding the company’s Midland Basin footprint to approximately 82,450 net acres. The acquired acreage complements, and is partially contiguous to,

Teekay

Floating Storage Declining, but U.S. Stockpiles Expected to Grow

Non-Iranian floating storage down to an estimated 10 MMBO Backwardation in the physical oil market is helping to draw down the number of barrels waiting in floating storage, according to a report from CNBC. An estimated 75-80 MMBO of oils was being stored in floating storage as future prices on oil remained higher than the current price (a contango market),

Iran Looks for International Partners in 50 Fields as OPEC Looks to Cap Production

50 fields up for tender in advance of OPEC’s November 30 meeting Iran’s national oil company said Monday that it has offered 50 oil and gas fields to international bidders in the Islamic Republic’s first attempt at attracting foreign investment to its oil and gas industry since the end of international sanctions. Iran’s Oil Ministry announced said 29 of the