( Oil & Gas 360) 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
(Oil & Gas 360) HIGHLIGHTS Following closing, acquisition of Lucero is expected to be immediately accretive to Vitesse’s earnings, operating cash flow, free cash flow and net asset value Subject to board approval and closing the transaction, Vitesse expects to increase its cash dividend from $2.10 to $2.25 per share on an annualized basis Upon closing, this acquisition strengthens Vitesse’s
(Oil Price) – The supermajors are moving into power generation, tempted by forecasts of a looming surge in demand. Yet there is a twist: the temptation is natural gas generation. Wind and solar—typically described as green or clean power—are turning into a fiasco for Big Oil. Chevron and Exxon both recently said they were planning to venture into the exciting—and quite
(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)– Phillips 66 (NYSE: PSX) announced today that it has entered into a definitive agreement to sell DCP GCX Pipeline LLC, which owns a 25% non-operated equity interest in Gulf Coast Express Pipeline LLC, to an affiliate of ArcLight Capital Partners, LLC for pre-tax total cash proceeds of $865 million, subject to purchase price adjustments. “With
(Oil Price) – Shell’s Nigerian subsidiary has approved the Bonga North deep-water project off the coast of Nigeria, the UK-based supermajor said on Monday, announcing the final investment decision for the development. The Bonga North project will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with a 55% interest. The project will sustain
(World Oil) – Diamondback Energy, Halliburton Energy Services and VoltaGrid LLC have entered into a landmark agreement to deploy four advanced electric simul-frac fleets across the Permian basin. This collaboration represents a significant investment in clean and efficient energy solutions, with VoltaGrid delivering approximately 200 megawatts (MW) of electric power to support Diamondback Energy’s field operations. This marks a continuation of
(Investing) – Oil futures dropped from their highest levels in weeks on Monday, pressured by weakness in consumer spending in China, the world’s largest oil importer. Brent crude futures fell 32 cents, or 0.4%, to $74.17 a barrel by 1300 GMT after settling on Friday at their highest since Nov. 22. U.S. West Texas Intermediate crude dropped by 27 cents, or
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