Andrew Baker

Natural gas producer TG Natural Resources LLC (TGNR) has entered a deal to acquire fellow Haynesville Shale heavyweight Rockcliff Energy II LLC for $2.7 billion. Rockcliff, which is backed by private equity firm Quantum Capital Group, operates in the East Texas portion of the Haynesville, which also straddles northwestern Louisiana. Rockcliff operates across more than…

Privately held Fury Resources Inc. is acquiring publicly traded Permian Basin oil and gas producer Battalion Oil Corp. in a cash deal valued at about $450 million, the companies said Friday. The transaction, slated to close in early 2024, would see Fury acquire all outstanding shares of common stock in Battalion, which operates in the…

The aggregate value of mergers and acquisitions (M&A) in the Permian Basin has surpassed $100 billion this year with the recently announced $12 billion takeover by Occidental Petroleum Corp. (Oxy) of CrownRock LP, eclipsing the previous record of $65 billion set in 2019, according to new analysis by Wood Mackenzie.  The Oxy-CrownRock deal followed ExxonMobil’s…

Oil and natural gas investments in decarbonization so far have largely focused on curbing individual Scope 1 and 2 emissions, according to a new analysis by Deloitte. Operators “are increasingly exploring clean energy avenues,” said authors Amy Chronis, Kate Hardin and Anshu Mittal in Deloitte’s 2024 Oil & Gas Industry Outlook. “However, their direct spending…

Demand is surging for natural gas pipeline and storage capacity in North America, and as a purveyor of both, that’s good news for Kinder Morgan Inc. (KMI), CEO Kim Dang said Thursday. Dang, a KMI veteran who took over the top job this year, said there are “a lot of fantastic tailwinds” for the company…

Occidental Petroleum Corp. (Oxy) has agreed to acquire privately held Permian Basin oil and natural gas producer CrownRock L.P. in a deal valued at roughly $12 billion. Oxy plans to finance the acquisition by incurring $9.1 billion in new debt, issuing about $1.7 billion of common equity and assuming CrownRock’s $1.2 billion of existing debt,…

Demand is surging for natural gas pipeline and storage capacity in North America, and as a purveyor of both, that’s good news for Kinder Morgan Inc. (KMI), CEO Kim Dang said Thursday. Dang, a KMI veteran who took over the top job this year, said there are “a lot of fantastic tailwinds” for the company…

Eagle Ford Shale operator SilverBow Resources Inc. is targeting capital expenditures of $550-$580 million to support a three-rig drilling program in 2024, management said Thursday. The Houston-based operator said it has closed its $700 million acquisition of Chesapeake Energy Corp.’s South Texas oil and gas assets, clearing the way to advance natural gas-weighted development in…

Canada has unveiled draft regulations to curb methane pollution from the oil and natural gas sector, coinciding with the finalization of similar rules by the U.S. Environmental Protection Agency.  The proposed federal regulations, presented during the Global Methane Pledge Ministerial at the 28th Conference of the Parties climate summit in Dubai, are designed to help…