Continental Resources to acquire FireBird Energy, adding 32,000 boed in Permian
(World Oil) – Continental Resources has agreed to acquire FireBird Energy II LLC, adding approximately 32,000 boed of oil-weighted production and expanding the company’s position in the Permian basin. FireBird, a portfolio company of Quantum Capital Group, holds approximately 54,000 net acres in the Midland basin adjacent to Continental’s existing operations.
Oil prices rise toward $94 as U.S. prepares new Iran economic measures
(World Oil) – Oil headed for a weekly gain as traders awaited details on a U.S. campaign to isolate Iran’s economy, with no apparent end in sight to a conflict that has slashed Middle East exports. Treasury Secretary Scott Bessent said Thursday the administration would
WhiteWater-led venture approves Permian-to-Texas gas pipeline project
(BOE Report) – Infrastructure company WhiteWater and its joint venture partners Devon Energy, MPLX, Diamondback Energy and Western Midstream Partners said on Monday they had reached a final investment decision (FID) to build two natural gas pipelines from the Permian Basin to Katy, Texas.
Stalled Alaska LNG pipeline bill sends ‘negative signal,’ governor says
(BOE Report) – Alaska Governor Mike Dunleavy said he was “deeply disappointed” that a bill to advance a pipeline for the Alaska LNG project to export natural gas to Asia stalled in the state legislature. Dunleavy said in a post on X late on
WhiteWater-led venture approves Permian-to-Texas gas pipeline project
(BOE Report) – Infrastructure company WhiteWater and its joint venture partners Devon Energy, MPLX, Diamondback Energy and Western Midstream Partners said on Monday they had reached a final investment decision (FID) to build two natural gas pipelines from the Permian Basin to Katy, Texas.
Global refiners are cutting out oil traders to buy Venezuelan crude directly
(Oil Price) – Commodity traders are having the rug pulled out from under one of their biggest paydays yet as refiners start bypassing oil and traders and buying Venezuelan crude directly, according to Reuters. Refiners and major oil-producing firms are rapidly gaining market share in Venezuelan crude
Emerson wins bp automation contract for $2.9 billion Shah Deniz project
(World Oil) — bp has awarded Emerson a multi-million-dollar contract to provide automation technologies for the $2.9 billion Shah Deniz Compression project offshore Azerbaijan, supporting increased gas recovery from the Caspian Sea field. The project represents the next phase of development at Shah Deniz and is designed
Canada’s Enbridge tops profit estimates on gas transmission strength
(BOE Report) – Enbridge reported first-quarter adjusted profit on Friday that surpassed analysts’ expectations as robust performance in its gas transmission and utility businesses offset softer results in its liquids pipelines segment. The pipeline operator is benefiting from rising demand for natural gas, utility infrastructure
Venezuela issues sweeping oil regulations to expand private sector role
(World Oil) – Venezuela’s interim government published long-awaited oil regulations on Thursday that effectively end the decades-long control of national oil company Petróleos de Venezuela SA (PDVSA) over the country’s lifeblood industry. Spanning 29 pages in the Official Gazette, the regulations lay out rules for the private
Tankers stack up as Venezuela sells oil faster than its ports can handle
(BOE Report) – Venezuela’s dilapidated oil port terminals are imposing a de facto export cap on the country’s resurgent crude production, with tankers having to wait up to 30 days to load because of ageing infrastructure, power outages and quality issues, according to shipping
Oil prices rise toward $94 as U.S. prepares new Iran economic measures
(World Oil) – Oil headed for a weekly gain as traders awaited details on a U.S. campaign to isolate Iran’s economy, with no apparent end in sight to a conflict that has slashed Middle East exports. Treasury Secretary Scott Bessent said Thursday the administration would
