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Former Parsley CEO Sheffield Acquires 7.4% Stake in Australian Natural Gas Explorer Tamboran

Former Parsley Energy Inc. CEO Bryan Sheffield has acquired a roughly 7.4% stake in Australian natural gas explorer Tamboran Resources Ltd., executives said Tuesday. Founded in 2009, Tamboran styles itself as “a natural gas company that intends to play a  constructive role in the global energy transition towards a lower carbon future.” The producer develops…

Xfuels to Acquire Oil, Gas Wells in Kansas and Oklahoma

Alberta-based Xfuels Inc. reported Monday that it plans to expand into the United States by adding 516 Midcontinent oil and gas wells to its holdings. The new assets come via a letter of intent (LOI) to purchase 100% of the common stock of Jubilee Exploration LLC, which controls the wells across 10 counties in northeastern…

November 29, 2021

Canada Regulators Say No to Long-Term Oil Contracts on Enbridge Mainline

A 28-month fight over access to Enbridge Inc.’s oil Mainline ended in defeat Friday for its plan to sell decades-long contracts to fill 90% of the conduit’s capacity for 3 million b/d to a handful of refineries and brokers. “Mainline contracting would likely reduce the access to pipeline capacity realistically available to certain shippers,” said…

November 29, 2021

North Dakota Gains Lift Latest Baker Count as Oil Activity Climbs

An uptick in North Dakota drilling activity helped send the U.S. rig count six units higher to finish at 569 during the abbreviated pre-Thanksgiving period ended Wednesday (Nov. 24), updated Baker Hughes Co. (BKR) data show. All the net gains for U.S. drilling for the period occurred on land and in the oil patch. Total…

November 24, 2021

U.S. E&Ps Said on Verge of ‘Energy Super Cycle’ Heading into New Year

The U.S. exploration sector delivered its fourth straight quarter of outperformance in 3Q2021, setting the sector up for what should be solid growth in 2022, according to energy prognosticators. Solid cash flow by the domestic exploration and production (E&P) companies was accelerated by the high commodity prices. However, the three-month period also represented a “stabilized…

November 24, 2021