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With Huge Infrastructure Bill on Table, U.S. to Sell Crude Held in Strategic Petroleum Reserve

With Huge Infrastructure Bill on Table, U.S. to Sell Crude Held in Strategic Petroleum Reserve

The U.S. Department of Energy (DOE) plans to sell up to 20 million bbl of oil from the Strategic Petroleum Reserve (SPR) – double the level sold at an auction earlier this year – as the Biden administration complies with 2015 legislation and tries to raise funds to pay for a massive new infrastructure bill.…

August 25, 2021
Oxy Sells Colgate Energy Slice of Permian West Texas Acreage, Production

Oxy Sells Colgate Energy Slice of Permian West Texas Acreage, Production

Occidental Petroleum Corp. is selling off 25,000 net acres in its West Texas holdings in the Permian Basin, along with the production, to private equity (PE) sponsored Colgate Energy Partners III LLC. The $508 million deal by Oxy, as it is better known, includes 25,000 net acres in Reeves and Ward counties within the Delaware…

June 11, 2021
ArcLight Taking 25% Stake in NGPL for $830M

ArcLight Taking 25% Stake in NGPL for $830M

A fund controlled by ArcLight Capital Partners LLC has taken a minority stake in the largest natural gas pipeline serving the high-demand Chicago-area market, as well as liquefied natural gas (LNG) export terminals along the Gulf Coast. Kinder Morgan Inc. (KMI) and Brookfield Infrastructure Partners LP on Tuesday said they agreed to sell a 25%…

February 23, 2021
Equinor Takes $900M for Bakken Assets as Lower 48 Portfolio Continues to Shrink

Equinor Takes $900M for Bakken Assets as Lower 48 Portfolio Continues to Shrink

Equinor ASA, an enthusiastic buyer in the early days of the Lower 48 unconventional oil and gas revolution, has put the portfolio in reverse, with the Bakken Shale the latest to change hands. The Norwegian major said Wednesday it agreed to sell its North Dakota and Montana assets to EnCap Investments-backed Grayson Mill Energy for…

February 10, 2021
Equinor Hammered by Norwegian LNG Outage, but Net-Zero Emissions Portfolio Gains

Equinor Hammered by Norwegian LNG Outage, but Net-Zero Emissions Portfolio Gains

Equinor ASA continued to advance its worldwide energy portfolio during 2020, with a long-term strategy set on becoming a net-zero emissions leader relying less on fossil fuels. The management team held court with analysts and investors on Wednesday to share results for 2020 and the outlook going forward. Mirroring comments made by Big Energy CEOs…

February 10, 2021
Berkshire Hathaway Taking Over Cove Point LNG from Dominion

Berkshire Hathaway Taking Over Cove Point LNG from Dominion

An affiliate of Warren Buffett’s Berkshire Hathaway Inc. on Monday became the operator of the Cove Point liquefied natural gas (LNG) export terminal in Lusby, MD, as part of a $9.7 billion acquisition from Dominion Energy Inc. The sale of the majority of the assets in the transaction announced in July were completed Monday, Richmond,…

November 3, 2020
Blackstone Sells Stake in Cheniere MLP for $7B

Blackstone Sells Stake in Cheniere MLP for $7B

Blackstone Group Inc. has closed the sale of its 42% stake in Cheniere Energy Inc.’s master limited partnership (MLP) in a transaction valued at $7 billion. The private equity firm sold the units it held in Cheniere Energy Partners LP (CQP) to affiliate Blackstone Infrastructure Partners and Brookfield Infrastructure. The firm first invested $1.5 billion…

September 25, 2020
Chevron Planning to Sell Stake in Australia’s North West Shelf LNG Facility

Chevron Planning to Sell Stake in Australia’s North West Shelf LNG Facility

Chevron Corp. said Thursday it plans to sell its 16.67% interest in Australia’s North West Shelf Project, which is among the country’s largest liquefied natural gas (LNG) facilities.

June 18, 2020
Devon Revamps Barnett Sale to BKV with Closing Extended to December

Devon Revamps Barnett Sale to BKV with Closing Extended to December

Devon Energy Corp. has amended the terms of its Barnett Shale asset sale to Thailand’s Banpu Kalnin Ventures (BKV), with the Oklahoma City-based independent agreeing to divest the North Texas assets for $570 million in cash at closing and contingent payments of up to $260 million.

April 15, 2020
Ring Energy in Deal to Sell Permian Delaware Acreage

Ring Energy in Deal to Sell Permian Delaware Acreage

Ring Energy Inc. said Tuesday it has entered a deal to sell a portion of its Permian Basin acreage to an undisclosed party for $31.5 million.

April 15, 2020
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