The U.S. composite rate has fallen $837 over the past four months from May’s record of $24,460. Even with the slide, the composite rate remains $2,112 higher YOY.
U.S. drilling rig day rates decline for fourth straight month
Howard Energy Partners 2nd Phase 61 Mile Expansion of South Texas Natural Gas Transportation System
Howard Energy Partners (HEP), through its joint venture, Dos Caminos, LLC (“Dos Caminos”), announced in 2022 plans to expand its capabilities to gather, treat and transport natural gas produced from the Austin Chalk and Eagle Ford shale plays in and around Webb County
Tourmaline-Backed LNG Group Files for Environmental Permits
A group of Canada’s largest natural gas producers including Tourmaline Oil Corp. and Ovintiv Inc. is pushing forward with a gas-export project called Ksi Lisims LNG and has filed for environmental approval for the 12 million-metric-ton-a-year facility on the West Coast.
Chevron announces buy of Hess for $53 billion in new oil megadeal
Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023.
Chesapeake Energy exploring multi-billion takeover to become largest natural gas-focused E&P company in US
Chesapeake’s talks with Southwestern are preliminary, Reuters reported on Wednesday, referring to anonymous sources who did not wish to be named.
Devon Energy studying possible deals with Marathon Oil, CrownRock – Bloomberg
Devon Energy (NYSE:DVN) is considering major acquisition targets as it seeks to gain scale in U.S. shale, and has held preliminary talks in recent months about a combination with Marathon Oil (NYSE:MRO), Bloomberg reported Wednesday.
FERC Approves TC Energy’s 1,377-Mile West Coast Pipeline Expansion
This project, known as GTN Xpress, is set to bolster the capacity of the Gas Transmission Northwest pipeline, which spans across Idaho, Washington, and Oregon, facilitating the daily transportation of approximately 150 million cubic feet (4.2 million cubic meters) of natural gas.
Oxy to build 7 mile pipeline to support “Stratos,” a direct air capture (DAC) facility
Occidental Petroleum formally unveiled the project it now calls “Stratos,” a direct air capture (DAC) facility foundational to the company’s future ambitions. Oxy was also approved by the Railroad Commission of Texas for a 7 mile CO2 export pipeline in Ector County Texas.
US oil output from top shale regions set to fall in November -EIA
U.S. oil output from top shale-producing regions is set to fall for a third month in a row in November to its lowest since May, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday.
Warning signs flashing in oil markets over Israel-Hamas conflict
On Monday Iran, which supports Hamas and backs the Hezbollah armed group in southern Lebanon, warned that an expansion of the war was “approaching the inevitable stage.”
