December 5, 2024 – Oil & Gas 360

Crescent Energy to acquire Ridgemar Eagle Ford assets in $900M deal

December 5, 2024

(World Oil) – Crescent Energy Company has 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 directly offset Crescent’s core Central Eagle Ford position and builds upon its significant acquisition activity in

Petrobras and Ecopetrol uncover historic gas find in Colombia

December 5, 2024

(Oil Price) – Brazilian oil giant Petrobras, in partnership with Colombia’s state-run Ecopetrol, has confirmed the largest natural gas discovery in Colombia’s history. Drilling results from the Sirius-2 well, located in the Guajira Offshore Basin, have revealed over 6 trillion cubic feet (Tcf) of gas in place—enough to potentially double the country’s existing reserves. Petrobras holds a 44.44% stake in the

Gradient, Chord Energy launch geothermal project for Williston basin oil and gas assets

December 5, 2024

(World Oil) – Gradient Geothermal, a Denver, Colorado-based company that generates geothermal energy derived from existing oil and gas production and infrastructure, will provide Chord Energy, an independent North American oil and gas exploration and production entity, geothermal power generation and fluid cooling services. This first of its kind deployment of Gradient Geothermal’s proprietary technology removes heat from produced fluids and

Matador Resources Company announces contribution of Pronto Midstream, LLC to San Mateo Midstream, LLC

December 5, 2024

(Oil & Gas 360) – DALLAS–(BUSINESS WIRE)–Dec. 5, 2024– Matador Resources Company (NYSE: MTDR) (“Matador”) today announced that it has executed a definitive agreement whereby Matador would contribute Pronto Midstream, LLC (“Pronto”), Matador’s wholly-owned midstream subsidiary, to San Mateo Midstream, LLC, Matador’s midstream joint venture (“San Mateo”), for a total implied valuation of Pronto of approximately $600 million. At the closing of the transaction, Matador will receive

CNX announces strategic bolt-on acquisition

December 5, 2024

(Oil & Gas 360) – 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. (“Carnelian”), in the Appalachian Basin

Explainer-What OPEC+ oil output cuts are currently in place?

December 5, 2024

(Investing) – LONDON – OPEC+ at its Dec. 5 meeting made further changes to its oil production policy, by delaying a planned increase in output further into next year as it faces a weaker oil demand outlook. The oil producer group on Thursday pushed back the start of oil output rises by three months until April 2025 and extended the full

Weekly Gas Storage: Inventories decrease by 40 Bcf- oil and gas 360

Weekly Gas Storage: Inventories decrease by 30 Bcf

December 5, 2024

Natural Gas Inventories as of November 29, 2024 The EIA has released its natural gas inventory report, showing a net decrease of 30 Bcf as of November 29, 2024. Working gas in storage was 3,937 Bcf as of Friday, November 29, 2024, according to EIA estimates. This represents a net decrease of 30 Bcf from the previous week. Stocks were

Premium Content