(TXO, 26.Jun.2024) — TXO Partners, L.P. (NYSE: TXO) announced the pricing of its public offering of 6,500,000 common units representing limited partner interests in TXO (the “common units”) at price to the public of $20.00 per common unit. The offering size was increased from the previously announced offering size of 5,000,000 […]
Category: USA
IGU Releases 2024 World LNG Report
(IGU, 26.Jun.2024) — Despite lower price, the growing global LNG market stays tight amid supply constraints, according to the 2024 IGU World LNG Report. Released today, the IGU’s 15th annual World LNG Report finds that global LNG trade grew by 2.1% in 2023, surpassing 401 million tonnes (MT). This global […]
Venture Global Launches First Vessel from State-of-the-Art LNG Fleet
(Venture Global, 25.Jun.2024) — Venture Global announced the successful launch of its first LNG vessel, the Venture Gator at a ceremony which took place at the Samsung Heavy Industries shipyard in Geoji-si, South Korea. The Venture Gator is the first of nine LNG carriers in the Venture Global fleet to be completed in quick succession […]
ExxonMobil and EV battery maker SK On Ink MOU
(ExxonMobil, 25.Jun.2024) — ExxonMobil signed a non-binding memorandum of understanding (MOU) with SK On, a global leading electric vehicle (EV) battery developer, that opens the door to secure a multiyear offtake agreement of up to 100,000 metric tons of MobilTM Lithium from the company’s first planned project in Arkansas. SK On plans to […]
TXO Partners Commences Underwritten Public Offering
(TXO Partners, 25.Jun.2024) — TXO Partners, L.P. (NYSE: TXO) announced, subject to market and other conditions, the commencement of an underwritten public offering of 5,000,000 common units representing limited partner interests in TXO (the “common units”). TXO expects to grant the underwriters a 30 day option to purchase up to an […]
ExxonMobil adds Air Liquide to Low-carbon Hydrogen Project
(ExxonMobil, 24.Jun.2024) — ExxonMobil and Air Liquide announced an agreement to support the production of low-carbon hydrogen and low-carbon ammonia at ExxonMobil’s Baytown, Texas facility. The agreement will enable transportation of low-carbon hydrogen through Air Liquide’s existing pipeline network. Additionally, Air Liquide will build and operate four Large Modular Air separation […]
ExxonMobil to Sponsor Porsche Carrera Cup North America Series
(Exxon, 20.Jun.2024) — The impressive field of Porsche 911 GT3 Cup racers competing in the Porsche Carrera Cup North America championship are now fueled by ExxonMobil’s Synergy Supreme+ premium gasoline – the same fuel available at the pump at gas stations across North America. ExxonMobil’s debut as the official fuel for […]
Exxon-Hess Arbitration Panel Incomplete, Hess Sale to Chevron Stalled
(Reuters, 20.Jun.2024) — A contract arbitration panel that could block or green-light the $53 billion sale of Hess Corp to Chevron remains incomplete three months after the case was filed, stalling a decision on whether Exxon Mobil has a right of first refusal over Hess’ Guyana operations. The third and final arbitrator has not […]
Nextracker and Unimacts Dedicate Second Nevada Factory to Serve Solar Power Demand
(Nexttracker, 20.Jun.2024) — Nextracker (Nasdaq: NXT), a global market leader in solar tracker and software solutions, and Unimacts (UNX), a leading provider of industrial manufacturing and supply chain solutions, today jointly announced a new factory in the Las Vegas area. This is the second Nextracker-dedicated manufacturing line that Unimacts has opened […]
TGS Announces Initiative to Enhance Market Insights
(TGS, 18.Jun.2024) — TGS is launching a new initiative to enhance market insights in U.S. offshore wind. This initiative aims to establish its flagship product, 4C Offshore, as the leading source for offshore wind and subsea cable market intelligence in this emerging market. As part of this expansion, TGS has […]
TGS and PetroAI Announce Strategic Partnership to Develop On-Demand AI Earth Models
(TGS, 18.Jun.2024) — TGS announced a strategic partnership with PetroAI. This collaboration aims to provide E&P companies with an integrated solution that allows users to access TGS’s licensed data via the PetroAI platform. By leveraging PetroAI’s advanced AI models, this partnership enhances the ability to accurately quantify exploration and development […]
TGS Releases Dynamic Matching FWI Volume for West Kermit 3D
(TGS, 17.Jun.2024) — TGS released the Dynamic Matching FWI (DM FWI) volume for West Kermit 3D in the Delaware Basin. The final new data volumes include time reprocessing and a fully integrated depth model, featuring diving wave and reflection DM FWI. The West Kermit 3D seismic survey spans 1,054 sq […]
Energy Transfer Submits HSR Act Filing In Connection With WTG Acquisition
(Energy Transfer, 17.Jun.2024) — Energy Transfer LP (NYSE: ET) recently submitted its premerger notification filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) in connection with its previously announced acquisition of WTG Midstream Holdings LLC. In addition, Energy Transfer announced that the 20% interest in the BANGL […]
Cheniere Upsizes Share Repurchase Authorization and Planned Increase in Dividend
(Cheniere, 17.Jun.2024) — Cheniere Energy, Inc.’s (NYSE: LNG) Board of Directors has approved an increase in its share repurchase authorization by an additional $4bn through 2027, and a plan to increase its quarterly dividend by approximately 15% to $2.00 per common share annualized, commencing with the third quarter 2024. Today’s […]
New Lithium Sampling Tool Will Help Find More Lithium
(Zelandez, 17.Jun.2024) — Zelandez, a provider of technology to the lithium brine industry, announced the availability of its new Borehole Formation Tester (BFT) to lithium developers worldwide. The slimmest pump-through formation tester ever made has been delivered to the lithium sector. The advanced tool can analyze fluid underground in real-time […]
TGS and PetroAI Announce Strategic Partnership
(TGS, 15 Jun.2024) – TGS announced a strategic partnership with PetroAI. This collaboration aims to provide E&P companies with an integrated solution that allows users to access TGS’s licensed data via the PetroAI platform. By leveraging PetroAI’s advanced AI models, this partnership enhances the ability to accurately quantify exploration and […]
Wärtsilä Introduces New Connector Module for Engine Power Plants
(Wartsila, 14.Jun.2024) — Technology group Wärtsilä introduces Wartsila Connector Module, an enhanced engine auxiliary module design for Wartsila’s proven 18V50SG Engine Power Plants. The new Wärtsilä Connector Module is a significant advancement in engineering, offering substantial improvements in the construction, installation, and commissioning processes for engine power plants. The new […]
Aramco and NextDecade execute HoA for Rio Grande LNG (RGLNG)
BATON ROUGE, LOUISIANA (Steve Stewart, Energy Analytics Institute, 13.Jun.2024) — The respective subsidiaries of Aramco and NextDecade Corporation executed a non-binding Heads of Agreement (HoA) for a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA) for offtake from Train 4 at the Rio Grande LNG (RGLNG) facility at the Port […]
Bristow Enters into Gov’t-Backed Equipment Financing for up to €100mn
(Bristow, 12.Jun.2024) — Bristow Group Inc. (NYSE: VTOL) announced that Bristow Leasing Limited, a UK subsidiary, has entered into a new Export Development Guarantee term-loan facility for an aggregate amount of up to €100mn with National Westminster Bank Plc (NatWest) as the original lender and UK Export Finance guaranteeing 80% of the […]
Higher LNG Prices to Limit Asian Demand, WoodMac Says
(WoodMac, 12.Jun.2024) — European gas storage is forecast to reach 100% by the end of September and remain full until the end of October, with an additional 4 million tonnes per annum (mmtpa) of floating storage also accumulated according to a new report by data and analytics company Wood Mackenzie.  […]
Clean Energy Expands Boron LNG Plant Capacity
(Clean Energy, 11.Jun.2024) — Clean Energy Fuels Corp. (NASDAQ: CLNE), the largest provider of the cleanest fuel for the transportation market, announced that construction of a third production train at its liquefied natural gas (LNG) plant in Boron, California, has been completed, increasing the plant’s volume capacity by 50 percent. Already […]
Noble Publishes Form 8-K Pertaining to Diamond Deal
(Energy Analytics Institute, 11.Jun.2024) — Noble Corporation plc published its current report on Form 8-K pertaining to the announced transaction with Diamond Offshore Drilling, Inc. ____________________ By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.
SFPP Announces Binding Open Season for Additional Capacity on Its East Line System
(SFPP, 10.Jun.2024) — SFPP, L.P. (SFPP), a subsidiary of Kinder Morgan, Inc. (NYSE: KMI), launched a binding open season to solicit commitments to support a proposed expansion of the East Line portion of its pipeline system from El Paso, Texas to Tucson, Arizona. The open season began at 8:00 a.m. […]
Noble to Acquire Diamond Offshore
(Noble, 10.Jun.2024) — Noble Corporation plc (CSE: NOBLE) (NYSE: NE) and Diamond Offshore Drilling, Inc (NYSE: DO) entered into a definitive merger agreement under which Noble will acquire Diamond in a stock plus cash transaction. As part of the transaction, Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration […]
Glenfarne Energy Transition’s Texas LNG Receives Key Local Tax Abatement
(Glenfarne Energy, 6.Jun.2024) — Texas LNG, a four million tonnes per annum (MTPA) liquefied natural gas (LNG) export terminal to be constructed in the Port of Brownsville, Texas and owned by Glenfarne Energy Transition, was approved for a Texas Tax Code Chapter 312 tax abatement from Cameron County. The tax […]
Hess Advised in Secondary Public Offering
(Hess, 6.Jun.2024) — Hess Midstream LP (NYSE: HESM) (HESM) announced the pricing of an underwritten public offering of an aggregate 10,000,000 Class A shares representing limited partner interests in HESM by an affiliate of Global Infrastructure Partners (the Selling Shareholder) at a public offering price of US$34.30 per Class A […]
Technip and Turner Awarded Contract by ExxonMobil for Louisiana CCS Project
(Technip, 6.Jun.2024) — Technip Energies (PARIS:TE), in consortium with Turner Industries, has been awarded the Engineering, Procurement, and Construction (EPC) contract by ExxonMobil Low Carbon Solutions Onshore Storage LLC. Technip Energies will oversee the engineering and procurement while Turner Industries will be responsible for the construction. The contract covers ExxonMobil […]
Equinor Solidifies New York Offtake Deal for Empire Wind 1
(Equinor, 4.Jun.2024) — Equinor announced the execution of the Purchase and Sale Agreement (PSA) with the New York State Energy Research and Development Authority (NYSERDA) for the renewable power generated by the Empire Wind 1 offshore wind project. This agreement follows NYSERDA’s February announcement that Equinor had been selected as a […]
NMPRC Approves New PNM Energy Resources for 2026
(NMPRC, 31.May.2024) — The New Mexico Public Regulation Commission (NMPRC) approved an application by Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of PNM Resources (NYSE: PNM), for new energy resources to be added by summer 2026. The new resources, totaling 410 megawatts of solar and battery storage capacity, are planned to […]
Noble Announces Changes to its Share CapitalÂ
(Noble, 31.May.2024) — Noble Corporation plc (NYSE: NE, CSE: NOBLE) announces changes to its share capital.During the period since 30 Apr. 2024, 57,454 new A ordinary shares each with a nominal value of USD 0.00001 have been issued. 57,454 new A ordinary shares have been issued to certain holders of warrants […]
EAI’s NRGBriefs: May 2024
(Energy Analytics Institute, 31.May.2024) — Energy briefs as well as others related to finance and projects during May 2024 including Offshore Technology Conference (OTC) 2024 highlights from Houston, Texas; the government of Trinidad and Tobago receiving a specific 2-yr licence from OFAC to pursue the exploration, production and export of […]
U. S. Steel and Nippon Steel Announce Receipt of All Non-U.S. Regulatory Approvals
(U.S. Steel, 30.May.2024) — United States Steel Corporation (NYSE: X) and Nippon Steel Corporation (TSE: 5401) have received all regulatory approvals outside of the U.S. related to the proposed transaction between U. S. Steel and Nippon Steel. These approvals have been received from the Directorate-General for Competition of the European […]
ConocoPhillips to Acquire Marathon Oil in All-stock Deal
(ConocoPhillips, 29.May.2024) — ConocoPhillips (NYSE: COP) and Marathon Oil Corporation (NYSE: MRO) announced today that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5bn, inclusive of $5.4bn of net debt. Under the terms of […]
Chevron Updates Stockholders at Annual Meeting
(Chevron, 29.May.2024) — Chevron Corporation (NYSE: CVX) provided an overview of the company’s business performance and plans at its 2024 Annual Meeting of Stockholders. “Chevron continues to deliver strong operational performance, maintain cost and capital discipline and consistently return cash to shareholders,” said Michael Wirth, Chevron’s chairman and CEO. “We’ve strengthened our portfolio […]
Hess Corp. Receives Stockholder Approval for Proposed $53bn Merger with Chevron
(Hess Corporation, 28.May.2024) — Hess Corporation (NYSE: HES) has received the necessary approval of its stockholders for closing the company’s merger with Chevron Corporation. At the special meeting of Hess stockholders held today, a majority of the outstanding shares of Hess common stock were voted in favor of the adoption of the […]
Norfolk Southern in Deal to Resolve federal East Palestine Derailment Claims
(Norfolk Southern, 23.May.2024) — Norfolk Southern Corporation (NYSE: NSC) has reached an agreement on a consent decree with the following U.S. agencies: the Department of Justice (DOJ), the Environmental Protection Agency (EPA), and the Department of the Interior (DOI) to resolve all their claims and investigations arising from the derailment in East Palestine, […]
John Hess Personally Calls Investors to Support Chevron Deal Before Vote
(Bloomberg, 22.May.2024) — John Hess, the boss of the oil company that bears his family name, is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter. The Hess Corp. chief executive […]
Zachry Initiates Voluntary Court-supervised Chapter 11Â
(Zachary, 21.May.2024) — Zachry Holdings, Inc. (ZHI) announced that ZHI and certain of its subsidiaries have initiated a voluntary court-supervised Chapter 11 process that provides them with time and flexibility to resolve issues related to the Golden Pass LNG (GPX) export terminal project in Sabine Pass, TX. This action is […]
APA Reveals over $700mn in Asset Sales from Two Transactions
(APA Corp., 20.May.2024) — APA Corporation (Nasdaq: APA) announced the sale of non-core producing properties by Apache Corporation and certain of its subsidiaries in two separate transactions with aggregate proceeds of more than $700mn, prior to customary closing adjustments. Combined, the properties represent estimated net production in the first-quarter 2024 […]
ADNOC Inks Equity Stake, LNG Offtake Deal with NextDecade
(ADNOC, 20.May.2024) — ADNOC announced the acquisition of a 11.7% stake in Phase 1 (Trains 1-3) of NextDecade Corporation’s (Nasdaq: NEXT) Rio Grande LNG (RGLNG), a liquefied natural gas (LNG) export project located in Texas, US, which is expected to produce a less carbon-intensive LNG. Highlights: –11.7% equity stake in Phase 1 […]
Glass Lewis Urges Hess Shareholders to Vote for Chevron Deal
(Hess, 20.May.2024) — Hess Corporation (NYSE: HES) announced that independent proxy voting and corporate governance advisory firm Glass, Lewis & Co. has recommended that Hess shareholders vote FOR the proposed merger with Chevron. In its report, Glass Lewis notes “the strategic and financial merits of the proposed merger are sound and reasonable” and that […]
California Ports Gear up to Build Offshore Wind Ports
(American Journal of Transportation, 17.May.2024) — Two California ports, Long Beach and Humboldt Bay, are gearing up to build offshore wind ports but still need financing. The two ports plan to build facilities that will assemble and launch floating offshore wind turbines to be deployed off the coasts of Central and […]
US Election Could Decelerate Energy Transition
(Wood Mackenzie, 16.May.2024) — The Infrastructure Investment and Jobs Act (IIJA) of 2021 and the Inflation Reduction Act (IRA) of 2022 catapulted the US to global leadership in decarbonisation. But a victory for former President Donald Trump in the November 2024 election, combined with long-standing issues around the US relationship with […]
Citgo Petroleum Reports 1Q:24 Results
(Citgo, 9.May.2024) — Citgo Petroleum Corporation reported its 2024 first quarter financial and operational results. Historically favorable refining margins and strong asset reliability led to first quarter net income of $410mn, EBITDA of $709mn and Adjusted EBITDA of $677mn, compared with net income of $937mn and EBITDA of approximately $1.4bn(2) for the first quarter of 2023. (1) EBITDA […]
Oil Companies Expand Offshore Drilling, Pointing to Energy Needs
(The New York Times, 9.May.2024) — Shell and others say they plan to drill for oil and gas in the Gulf of Mexico in part because doing so releases fewer greenhouse gases than drilling on land. About 80 miles southeast of Louisiana’s coast, 100,000 metric tons of steel floats in […]
PetroTal Announces Q1 2024 Financial and Operating Results
(PetroTal, 9.May.2024) — PetroTal Corp. (TSX: TAL, AIM: PTAL and OTCQX: PTALF) reported its operating and financial results for the three months ended 31 Mar. 2024 (“Q1”). All amounts herein are in United States dollars unless otherwise stated. Selected Q1 2024 Highlights — Average Q1 2024 sales and production of […]
Dragonfly Energy Announces Breakthrough in Lithium Battery Production
(Dragonfly Energy, 9.May.2024) — Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) has made a significant breakthrough in battery manufacturing with the successful production of PFAS-free electrodes in lithium battery cells. As concerns mount over PFAS (per- and polyfluoroalkyl substances), also known as ‘forever chemicals,’ Europe is poised to enact restrictions on its […]
OTC Discusses the Future of the Global Energy Evolution
(OTC, 9.May.2024) — The 55th annual Offshore Technology Conference (OTC) concluded today at NRG Park, uniting the world’s elite energy experts and professionals, to discuss the future of offshore energy. OTC 2024 showcased breakthrough innovations in the industry, and a multi-disciplinary technical program exploring the technologies needed to address the […]
NextDecade Provides 1Q:24 Business Update
(NextDecade, 9.May.2024) — NextDecade Corporation (NASDAQ: NEXT) provided an update on developmental and strategic activities for the first quarter 2024 and early second quarter 2024. CEO Commentary “Construction of Phase 1 at the Rio Grande LNG Facility continues to progress according to plan, as we work alongside Bechtel to construct […]
Summit Reports 1Q:24 Results
(Summit Midstream, 2.May.2024) — Summit Midstream Partners, LP (NYSE: SMLP) (SMLP or the “Partnership”) announced its financial and operating results for the three months ended 31 Mar. 2024. Highlights Reduced net leverage ratio to approximately 3.9x, a dramatic reduction from 5.4x in the fourth quarter of 2023, furthering progress toward achieving 3.5x net […]