Saturday, February 22, 2025

Carrizo Snags Delaware Basin Acreage from Devon in $215 Million Cash Bolt-On

Carrizo places deal at $13,000 per net acre Houston’s Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) said Tuesday it will acquire Delaware Basin properties from Devon Energy Corporation (NYSE: DVN) for $215 million in cash. Carrizo said it will fund the purchase with net proceeds from an equity offering. The underwritten public offering of 9,500,000 shares of common stock was priced

Judge Scraps Idaho Order Forcing Landowners into Oil Leases

From Associated Press/the Herald-Whig BOISE, Idaho (AP) — Idaho officials violated the U.S. Constitution by forcing several landowners to sell their natural gas and oil to a Texas company without giving them a meaningful way to fight the state’s decision, a judge said. The ruling Monday in U.S. District Court in Boise could have significant ramifications for a state-approved process

Weekly Oil Storage: Surprise Large Build

The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks rose by 6,805 MBBL last week to 414,194 MBBL from 407,389 MBBL. This is 11% below the 466,492 MBBL that was in storage at this point last year, and is 1% above the five-year