U.S. Energy Development Corp., an Arlington-based exploration and production company. They acquired a 25% working interest in the Mascot Project. It is stacked pay asset in core Midland Basin for $225 million cash and other considerations, the company announced. U.S. Energy said it anticipates full development of the project to comprise another $130 million in […]
Investment in new oil and gas production will still be needed in the energy transition. This is as demand will still be there over the next few decades says Mark Carney. He is the former governor of the Bank of Canada and the Bank of England. The world is raising investments in clean energy. However, […]
Companies with a focus on the oil-rich Permian basin are likely to be at the center of the next wave of consolidation in the U.S. energy sector as favorable oil prices prompt cash-rich drillers to tap into the largest source of shale oil. Learn more about this energy deal. Top producers have built a war […]
The Permian Basin is expected to need 115,000 additional workers by 2040, according to the Permian Strategic Partnership. On Thursday, the Federal Reserve Bank of Dallas teamed up with local leaders to better understand the economy in the region with the pandemic now mostly in the past. Read more about this economic success goal. Discussions […]
The Wall Street Journal reports that ExxonMobil, (NYSE: XOM), and Pioneer Natural Resources, (NYSE: PXD) are in preliminary discussions about a permian mega deal merger. There has been a good bit of M&A activity the last year or so in shale country. Quite a bit of which was in the Eagle Ford play in South […]
Oil prices slightly rose on Wednesday as the market waited for U.S. inflation data later in the day. It will likely influence the Federal Reserve’s policy on future interest rate hikes. U.S. West Texas Intermediate rose 77 cents, or 0.95% to $82.29 a barrel. Brent crude climbed 87 cents, or 1.02% to $86.28 a barrel. […]
The statewide gas price average in Texas is $3.22 for a gallon of regular unleaded fuel. This is according to the AAA Texas Weekend Gas Watch. That price is six cents more per gallon than it was on this day last week and is 56 cents less per gallon. This is in comparison to this […]
The Biden administration greenlighted the enormous $8 billion Willow oil project on Alaska’s North Slope last month. Many decried the move as a betrayal of the United States pledge. A pledge to move away from fossil fuels in the fight against climate change. This is just a fraction of all the oil and gas projects […]
The Business Research Company’s research on the oil and gas market industry growth forecasts the global oil and gas market size to grow from $6,989.6 billion in 2022 to $7,330 billion in 2023 at a compound annual growth rate (CAGR) of more than 4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the […]
Energy Transfer LP announced on Monday that it had acquired pipeline operator Lotus Midstream. It is for a a $1.45 billion cash-and-stock deal to boost its presence in the Permian Basin. The acquisition is expected to solidify ET as one of the top midstream companies in the region. It will also provide greater access to […]
