Finance
Strathcona seeks to block $5.7 billion Cenovus deal to buy MEG Energy
(Oil Price)– Previously rejected MEG Energy bidder Strathcona Resources intends to buy an additional 5% stake in MEG and vote these shares and the existing 9.2% stake against the Cenovus acquisition offer for MEG, as the latest major Canadian deal faces hurdles towards completion.
Elliott affiliate emerges as frontrunner in Citgo auction, filing says
(Investing.com)– A U.S. court officer said on Monday an affiliate of hedge fund Elliott Investment Management made the best bid for the parent of Venezuela-owned refiner Citgo Petroleum, against a group led by miner Gold Reserve previously recommended as the winner. Improved bids emerged
Aggressive activist investor is gunning for Phillips 66
(Oil Price) – Elliott Investment Management is at it again, this time sinking its teeth into U.S. refiner Phillips 66 with a $2.5 billion stake and a laundry list of demands. The aggressive activist investor—best known for shaking up boardrooms and strong-arming CEOs into “unlocking
Record Permian output boosts Exxon’s Q2 results
(Oil Price)– Despite the slide in oil prices in the second quarter, ExxonMobil (NYSE: XOM) reported on Friday earnings that exceeded analyst estimates on the back of increased oil and gas production in the U.S. Permian shale basin and offshore Guyana. Exxon’s earnings
Exclusive: NXT Energy Solutions at EnerCom Denver – The Energy Investment Conference 2025
(Oil & Gas 360) – Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technology Series presenter replays for a limited time. NXT Energy Solutions Inc. is a Calgary-based technology company whose proprietary airborne SFD® survey
How To Tackle Carbon Emissions in Oil&Gas: Solutions from DECARBON 2025
(Oil & Gas 360) – DECARBON 2025 brought together industry leaders to chart the course for sustainable energy transition strategies in Berlin, Germany on 10-11 February. Central themes included solutions for reducing carbon footprints across all industry segments, hydrogen production, advancements in refining, integration of
Ten Permian counties account for 93% of U.S. oil production growth since 2020
(World Oil)– Between 2020 and 2024, total crude oil and lease condensate production in the United States grew by 1.9 million barrels per day (bpd), 93% of which was produced from just 10 counties in Texas and New Mexico, according to a new report
Goldman: The boom years of U.S. oil output growth are over
(Oil Price)– The years of very rapid growth in U.S. crude oil production are behind us, in large part due to the maturing of the biggest growth engine, the Permian, according to Goldman Sachs. The investment bank expects declines in America’s crude oil output
