Finance
Coterra Energy closes $3.9 billion deal in Permian basin
(World Oil) – Coterra Energy has completed its previously announced acquisitions consisting of certain assets of Franklin Mountain Energy and Avant Natural Resources and its affiliates for aggregate consideration of approximately $3.9 billion, subject to certain post-closing purchase price adjustments. “Through the hard work
Basic Energy Services to cut nearly 500 Texas jobs following bankruptcy
Reuters Oilfield services provider Basic Energy Services will cut about 500 jobs in Texas, according to a filing with the state’s workforce commission, as the company works through Chapter 11 restructuring that includes asset sales. The job cuts are focused throughout Texas, with 135
Analysis-US refiners reward shareholders with big returns despite softer Q1 profits
U.S. News NEW YORK (Reuters) – Major U.S. fuel makers returned billions in capital to shareholders in the first quarter and boosted share repurchase programs, even as refining margins softened from recent records and utilization rates fell. Three of the biggest U.S. independent oil
VAALCO Energy announces record production and sales volumes for 2024
(World Oil) – VAALCO Energy, Inc. has provided an operational update that included record production and sales volumes for 2024. Highlights: Recorded full year 2024 sales volumes of 24,100 to 24,600 working interest (WI) barrels of oil equivalent per day (boed), at the midpoint
U.S. grid investments jump as AI leads power demand surge
(Oil Price) – A number of grid operators and utilities in the United States are planning billions of U.S. dollars worth of investments in power transmission lines and networks as American electricity demand rises after two decades of stagnation. The advancements in AI and the
Presenting carbon-neutral solutions for the oil and gas industry at DECARBON 2025
(Oil & Gas 360) – The Oil and Gas Decarbonisation Congress (DECARBON) 2025 welcomes top management and leading technical specialists to present companies’ experience and solutions for reducing carbon emissions within the oil and gas sector. The Congress is held in Berlin, Germany on
US oilfield firms face pricing squeeze as fracking demand slumps
(Investing) – HOUSTON – Top U.S. oilfield services firms are facing weaker pricing and revenue this year as oil producers become increasingly efficient and keep a cap on spending, according to oilfield executives and analysts. U.S. producers, mainly shale companies which led a fracking revolution
Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs
(Investing) – SINGAPORE/LONDON -Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if U.S. President-elect Donald Trump imposes 25% import tariffs on crude imports from the two countries, traders and analysts said. Two sources familiar with
