Category: USA

W&T Offshore Closes Acquisition of Six GOM Fields

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(W&T Offshore, 22.Jan.2024) — W&T Offshore, Inc. (NYSE: WTI) has completed the accretive acquisition of six fields in shallow waters of the Gulf of Mexico. W&T was the successful bidder for certain synergistic assets in the Gulf of Mexico offered by MLCJR LLC, Cox Oil Offshore, L.L.C., Cox Operating, L.L.C., […]

Sunoco to Buy NuStar in Deal Valued at $7.3bn

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(Reuters, 22.Jan.2024) — Sunoco LP (NYSE: SUN) and NuStar Energy L.P. (NYSE: NS) announced that the parties have entered into a definitive agreement whereby Sunoco will acquire NuStar in an all-equity transaction valued at approximately $7.3bn, including assumed debt. Transaction Details Under the terms of the agreement, NuStar common unitholders will receive 0.400 Sunoco common units for each NuStar common […]

Exxon Activists Banished Best with Vote, Not Court

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(Reuters, 22.Jan.2024) — Exxon Mobil (XOM.N), opens new tab is trying to banish a climate activist proposal in a Texas court. The $385 billion oil giant would be better off leaving its own shareholders to do so. After all, similar measures have resoundingly failed before. Choosing to instead fight against a vote is […]

DeepOcean Completes Trenching Project in US GOM

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(DeepOcean, 22.Jan.2024) — The US operation of ocean services provider DeepOcean has successfully completed the burial of a fuel support pipeline in the US Gulf of Mexico on behalf of Genesis Energy after introducing its jet trenching system to the US market. DeepOcean’s cutting-edge trenching system, UT-1, was utilised for […]

Port of Corpus Christi Moved Record Tonnage in 2023

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(Port of Corpus Christi, 18.Jan.2024) — Port of Corpus Christi customers set a new high mark in annual tonnage during 2023, moving more than 200 million tons of goods through the Corpus Christi Ship Channel for the first time in its history. The 203 million tons moved in 2023 was […]

Talos Reveals Commencement of Underwritten Public Offering

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(Talos, 17.Jan.2024) — Talos Energy Inc. (NYSE: TALO)  commenced an underwritten public offering of $300mn of shares of its common stock, par value $0.01 per share. The company expects to grant the underwriters a 30-day option to purchase $45mn of additional shares of its common stock. The company intends to use the net proceeds from this […]

Port of Corpus Christi Commission Names New Officers

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(The Port of Corpus Christi, 16.Jan.2024) — The Port of Corpus Christi Commission named new officers and announced two new Commissioners who took their oaths of office, administered by Nueces County Judge Connie Scott, at the Congressman Solomon P. Ortiz International Center during the governing body’s first meeting of the […]

1PointFive and Trafigura Announce DAC Credit Agreement

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(1PointFive, 16.Jan.2024) — 1PointFive, a carbon capture, utilization and sequestration (CCUS) company, and Trafigura, a market leader in the global commodities industry, announced that Trafigura has agreed to purchase carbon dioxide removal (CDR) credits to be produced from 1PointFive’s first industrial-scale Direct Air Capture (DAC) facility, STRATOS, which is currently […]

US Corporate Defaults Fueled 80% Jump in Global Tally in 2023

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(S&P Global Ratings, 16.Jan.2024) — The number of global corporate defaults rose 80% in 2023, S&P Global Ratings Credit Research & Insights said today in a new report, and more credit deterioration is likely in 2024 amid slowing economic growth and high financing costs. In “Corporate Defaults Jumped 80% In […]

Talos Announces Strategic $1.3bn Acquisition of QuarterNorth

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(Talos, 15.Jan.2024) — Talos Energy Inc. (NYSE: TALO) announced the execution of definitive agreements to acquire QuarterNorth Energy Inc. for $1.29bn (the “Transaction”). QuarterNorth is a privately-held U.S. Gulf of Mexico exploration and production company with ownership in several prolific offshore fields. QuarterNorth’s assets will provide additional scale from high […]

NASA Picks 12 Companies for Space Station Contract

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(NASA, 12.Jan.2024) — NASA selected 12 companies to provide research, engineering, and mission integration services for the International Space Station Program. The $478mn Research, Engineering & Mission Integration Services-2 or REMIS-2 contract will support the work of the International Space Station Program based at NASA’s Johnson Space Center in Houston. The companies will […]

SLB and Nabors to Scale Automation Solutions

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(Nabors, 12.Jan.2024) — SLB (NYSE: SLB) and Nabors Industries (NYSE: NBR) announced a collaboration to scale the adoption of automated drilling solutions for oil and gas operators and drilling contractors. The agreement will enable customers to seamlessly integrate the companies’ drilling automation applications and rig operating systems to deliver improved […]

Aspen Aerogels Provides Business Update

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(Aspen Aerogels, 11.Jan.2024) — Aspen Aerogels, Inc. (NYSE: ASPN), a technology company in sustainability and electrification solutions, today announced preliminary full year 2023 revenue results, a preliminary 2024 revenue outlook, and the initial shipments through its supplemental aerogel supply for its Energy Industrial business. Preliminary Full Year 2023 Revenues, 2024 Baseline […]

Chesapeake and Southwestern Combine in $7.4bn Deal

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(Chesapeake, 11.Jan.2024) — Chesapeake Energy Corporation (NASDAQ: CHK) and Southwestern Energy Company (NYSE: SWN) have entered into an agreement to merge in an all-stock transaction valued at $7.4bn, or $6.69 per share, based on Chesapeake’s closing price on 10 Jan. 2024. Under the terms of the agreement, Southwestern shareholders will receive 0.0867 shares […]

Arena Creates Artificial Reef in US GOM

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(Arena, 11.Jan.2024) — Arena Energy, LLC, an independent oil and gas exploration company focused on the Gulf of Mexico Shelf, recently established an artificial reef site at South Marsh Island 192, which is located in the U.S. Gulf of Mexico approximately 100 miles off the coast of Louisiana. The South Marsh Island 192 […]

IMF Unlocks $4.7bn for Argentina Amid Economic Crisis

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(Al Jazeera, 11.Jan.2024) — Argentina and the International Monetary Fund (IMF) have finalised an agreement to release $4.7bn as part of a debt restructuring plan for the troubled South American nation. Latin America’s third-biggest economy is facing dire economic challenges after decades of debt and financial mismanagement, with inflation surpassing 160 percent […]

Key Upstream Things to Watch in 2024: WoodMac

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(WoodMac, 10.Jan.2024) — Geopolitical tensions, a record year for elections and economic uncertainty will define the backdrop to the upstream industry in 2024. Wood Mackenzie recently released its What to Look for in 2024 upstream series. Key themes to watch in global and corporate upstream include continued consolidation, increased activity from NOCs, reversing decarbonisation gains, shifts […]

HNRC Outlines Key 2024 Highlights [PDF Download]

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(Houston Natural Resources, 10.Jan.2024) — Houston Natural Resources Corp (OTC: HNRC) with a pending name, symbol and CUSIP change, to Cunningham Natural Resources Corp. (CNRC), outlined an investor presentation for 2024. Cunningham is focused on traditional oil and gas opportunities and energy transition materials including mining opportunities in copper, lithium, […]

EDF Renewables Announces Commercial Operation of Fox Squirrel Phase 1

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(Enbridge, 10.Jan.2024) — EDF Renewables North America and Enbridge Inc. announced that Phase 1 of Fox Squirrel Solar, the largest solar complex in Ohio, is fully operational and delivering decarbonized electricity to the PJM grid. Fox Squirrel Solar, a ground-mounted solar facility with total capacity of 749 MWdc/577 MWac, is […]

Gevo Names Katie Ellet to Board of Directors

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(Energy Analytics Institute, 8.Jan.2024) — Gevo, Inc. (NASDAQ: GEVO) announced that Katie Ellet has been appointed to its Board of Directors as of 2 Jan. 2024. Ellet serves as president, Hydrogen Energy and Mobility for North America at Air Liquide, a leader in gases, technologies and services for industry and […]

enCore Energy Provides 4Q:23 ATM Quarterly Sales Update

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(enCore Energy, 5.Jan.2024) — enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), as required by the TSXV, issued a total of 7,579,563  common shares, between the period 1 Oct. 2023 and 31 Dec. 2023, under the at-the-market (ATM) controlled equity offering program. The shares were issued through the facilities of TSXV and the […]

Forum Energy Completes Acquisition of Variperm

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(Forum Energy, 5.Jan.2024) — Forum Energy Technologies, Inc. (NYSE: FET) completed the acquisition of Variperm Energy Services, a manufacturer of customized downhole technology solutions, providing sand and flow control products for heavy oil applications. Total consideration for the acquisition consisted of $150mn of cash and 2mn shares of FET’s common […]

Enterprise Prices $2bn Principal Amount of Senior Notes

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(Enterprise Products Partners, 5.Jan.2024) — Enterprise Products Partners L.P. (NYSE:EPD) announced that its operating subsidiary, Enterprise Products Operating LLC (EPO), has priced a public offering of $2bn aggregate principal amount of notes comprised of (i) $1bn principal amount of senior notes due 11 Jan. 2027 (“Senior Notes HHH”), and (ii) […]

Norfolk Southern Aims for Low-carbon Future

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(Norfolk Southern, 4.Jan.2024) — Norfolk Southern Corporation (NYSE: NSC) released its inaugural Climate Transition Plan (CTP). The CTP is aimed at reducing greenhouse gas (GHG) emissions with a focus on transitioning to a low-carbon economy. Commitment to environmental stewardship and sustainability is rooted in Norfolk Southern’s values and its deep understanding of climate […]

NMPRC Issues Decision in PNM Rate Review

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(PNM, 4.Jan.2024) — The New Mexico Public Regulation Commission (NMPRC) issued an order in the application for a 2024 change in customer base rates by Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of PNM Resources (NYSE: PNM). The order modified the recommended decision in the case and equates to an estimated […]

Trio Petroleum Restarts the McCool Ranch Oil Field

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(Trio Petroleum, 4.Jan.2024) — Trio Petroleum Corp (NYSE American: TPET), a California-based oil and gas company, provided an update on the restart of the McCool Ranch Oil Field. On 18 Oct. 2023, the company announced its acquisition of an approximate 22% working interest in McCool Ranch, which is located in […]

Avenir Secures Extensions for Avenir Advantage and Accolade

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(Avenir LNG, 4.Jan.2024) — Avenir LNG Limited has executed two Time Charter Agreements for the Avenir Advantage and the Avenir Accolade. Avenir’s affiliate Future Horizon (L) Pte Ltd (a joint venture between Avenir and MISC) has signed a new two-year time charter agreement with PETCO Trading Labuan Company Ltd (PTLCL), […]

Ormat Completes Acquisition of Geothermal, Solar Assets

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(Ormat Technologies, 4.Jan.2024) — Ormat Technologies, Inc. (NYSE: ORA), a renewable energy company, announces that it has closed the previously announced acquisition of a portfolio of geothermal and solar assets from Enel Green Power North America (EGPNA), a subsidiary of Enel SpA (ENEL.MI, LLC). Under the agreement, Ormat paid $271mn […]

Energy Domain Looks to Future with Energent Acquisition

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(Energy Domain, 4.Jan.2024) — Energy Domain, the tech-enabled online marketplace based in Fort Worth, Texas, has successfully acquired market intelligence technology product Energent from U.K.-based Westwood Global Energy Group. Founded by Ryan Vinson and the 5Ms Technologies team that created MineralWare and Energy Freelance, Energy Domain has parlayed dedication to […]

Alaska Airlines Receives First Long-range Boeing 737-8

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(Alaska Airlines, 4.Jan.2024) — Alaska Airlines continues to grow as we welcome delivery of the first Boeing 737-8 to our aircraft lineup – the next component of our strategic, long-term fleet plan that builds on our strengths and provides a road map for ongoing future success. We proudly fly the […]

Talos Starts Production at Lime Rock and Venice GOM Discoveries

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(Talos, 3.Jan.2024) — Talos Energy Inc. (NYSE: TALO) has successfully started oil and natural gas production at Talos’s Lime Rock and Venice discoveries, located near its 100% owned and operated Ram Powell platform in the U.S. Gulf of Mexico. Talos owns a 60% working interest in both wells. The Lime Rock and Venice wells were brought […]

PNM Announces Termination of Merger Agreement

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(PNM Resources, 2.Jan.2024) — PNM Resources (NYSE: PNM) announces the termination of its merger agreement with Avangrid. While the PNM Resources Board of Directors approved an extension, it was not accepted by Avangrid and Avangrid terminated the merger. “We are greatly disappointed with Avangrid’s decision to terminate the merger agreement and […]

enCore Energy Starts Trading on Nasdaq Capital Market

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(enCore Energy, 2.Jan.2024) — enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), a uranium producer in the United States, commences trading on the Nasdaq Capital Market. The company shares will continue to trade under the ticker symbol “EU” on Nasdaq and will continue to trade on the TSX Venture Stock Exchange (TSXV) under […]

EAI’s NRGBriefs: Dec. 2023

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(Energy Analytics Institute, 31.Dec.2023) — Energy briefs as well as others related to finance and projects during Dec. 2023 including why Venezuela wants to annex the Essequibo; Petrobras acquiring 29 blocks in the Pelotas basin in the 4th Permanent Concession Offer Cycle of the National Agency of Petroleum, Natural Gas […]

NextEra Completes sale of Texas Natural Gas Pipeline Portfolio

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(NextEra Energy Partners, 28.Dec.2023) — NextEra Energy Partners, LP (NYSE: NEP) closed on its previously disclosed agreement with Kinder Morgan, Inc. (NYSE: KMI) to sell its Texas natural gas pipeline portfolio for $1.815bn. “The completion of this sale is an important step in NextEra’s transition plans,” said John Ketchum, chairman and chief executive officer. “With the Texas natural gas pipeline […]

AEP to Divest New Mexico Solar Assets

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(American Electric Power, 26.Dec.2023) — American Electric Power (Nasdaq: AEP) has entered into an agreement to sell its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC. AEP and PNM Resources, which also owns 50% of NMRD, plan to sell the portfolio of 15 solar […]

NMPRC Approves PNM Distribution Battery Storage Projects

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(NMPRC, 26.Dec.2023) — The New Mexico Public Regulation Commission (NMPRC) approved the application from Public Service Company of New Mexico (PNM), wholly-owned subsidiary of PNM Resources (NYSE: PNM), to install 12 megawatts of utility owned distribution-level battery storage to expand the capacity of overloaded feeders at two locations. This innovative solution supports reliability […]

Ellipsis US Acquires Additional Onshore Assets

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(Ellipsis, 22.Dec.2023) — Ellipsis U.S. Onshore Holdings LLC, a portfolio company of Westlawn Group LLC, announced the acquisition of additional assets located in multiple onshore U.S. basins. Ellipsis acquired non-operated oil and gas assets with current production of more than 6,000 boe/d (2-stream) and significant operational upside associated with approximately 550 […]

Tellurian to Pay Over $7mn to Departing Souki [PDF Download]

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(Energy Analytics Institute, 20.Dec.2023) — Tellurian Inc., which is developing the Driftwood LNG project in Louisiana, revealed details regarding compensation for Charif Souki. “As previously disclosed, on 8 Dec. 2023 (the “Termination Date”), pursuant to and in accordance with that certain employment agreement entered into as of 1 Oct. 2021 […]

Kodiak Gas to Buy CSI Compressco in $854mn All-Equity Deal

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(CSI Compressco, 19.Dec.2023) — Kodiak Gas Services, Inc. (NYSE: KGS) and CSI Compressco LP (NASDAQ: CCLP) executed a definitive merger agreement under which Kodiak will acquire CSI Compressco in an all-equity transaction valued at approximately $854mn, including the assumption of $619mn of net debt, based on the closing price of Kodiak’s stock on 18 Dec. 2023. […]

Shell Invests in GOM Sparta Development

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(Shell, 19.Dec.2023) — Shell Offshore Inc., a subsidiary of Shell plc, announced the Final Investment Decision (FID) for Sparta, a deep-water development in the U.S. Gulf of Mexico that represents our competitive approach to simplifying and replicating projects.  Owned by Shell Offshore Inc. (51% operator) and Equinor Gulf of Mexico LLC (49%), […]

enCore Energy Transfers to NASDAQ

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(enCore Energy Corp., 19.Dec.2023) — enCore Energy Corp. (NYSE American: EU) (TSXV: EU) will transfer its stock exchange listing to the Nasdaq Capital Market from the NYSE American LLC. The company shares will continue to trade under the ticker symbol “EU” with expectations that the listing will commence on the […]

Treasury International Capital Data for Oct.

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(US Treasury, 19.Dec.2023) — The US Department of the Treasury released Treasury International Capital (TIC) data for Oct. 2023. The next release, which will report on data for Nov. 2023, is scheduled for 19 Jan. 2024. The sum total in Oct. of all net foreign acquisitions of long-term securities, short-term […]

Nature Wood Announces 1H:23 Financial Results

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(Nature Wood, 18.Dec.2023) — Nature Wood Group Limited disclosed its unaudited financial results for the six months ended 30 Jun. 2023. Financial Highlights: Total revenue for the first half of 2023 stood at approximately $15.6mn, marking a decrease of 49.6% from the $31mn recorded in the same period of last year. The company […]