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…
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Fury Resources Snapping Up Permian Delaware Producer Battalion for $450M
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…
Kinder Morgan’s Dang Touts ‘Fantastic Tailwinds’ for Natural Gas Transport, Storage Business
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…
Without Natural Gas, Nearshoring in Mexico Flops, Experts Say
Mexico could boom thanks to the new global economic system, and natural gas will be key, according to experts. Speaking Tuesday at the U.S.-Mexico Natural Gas Forum in San Antonio, TX, Guillermo García Alcocer who handles planning at Instituto Tecnológico Autónomo de Mexico (ITAM), said without greater access to natural gas, the so-called nearshoring opportunity…
Coterra Eyeing Anadarko Natural Gas as Gulf Coast LNG Supply Source
Faster cycle times and strong well productivity drove a production beat for multi-basin independent Coterra Energy Inc. during the third quarter, a performance that led the explorer to increase guidance for the year. The Houston-based exploration and production (E&P) giant, which works in the Anadarko and Permian basins, as well as the Marcellus Shale, expects…
Texans Vote ‘Yes’ to Fund More Natural Gas-Fired Power Generation
Texans on Tuesday cast ballots on a slate of constitutional amendments, with Proposition 7, which supplies state funds to add natural gas-fired power plants, resoundingly approved. Proposition 7, a constitutional amendment to create the Texas Energy Fund, passed with about 65% of the popular vote. With its passage, the Public Utilities Commission of Texas (PUCT)…
December Natural Gas Futures Tumble As Record Production, Warm Early Winter Weigh
Natural gas futures on Monday lost ground, succumbing to weaker fundamentals as production notched another all-time high and early winter warmth deflated demand. The December Nymex gas futures contract settled at $3.264/MMBtu, down 25.1 cents day/day. January fell 23.1 cents to $3.564. At A Glance: Front month sheds 25.1 cents day/day Production approaches 105 Bcf/d…
Texans to Vote on Funding Billions for Natural Gas-Fired Generation
Texans as early as Monday were going to be able to begin voting on a slate of amendments, including one that would fund natural gas-fired generation facilities to bolster the stressed electric grid. Proposition 7, a constitutional amendment, would if adopted by a majority of voters establish the Texas Energy Fund (TEF) to support the…
California, Texas Electric Grids Experience No Issues Amid Solar Eclipse
Natural gas aided electric grid operators in California and Texas in maintaining stable operations as solar generation dropped during Saturday’s annular eclipse. For the California Independent System Operator (CAISO), total renewable energy – which includes solar and wind – had climbed to 9,919 MW by 8:40 a.m. PT but then plunged to 5,002 MW by…
Texas Oil, Gas Regulators Plug Record Orphaned Wells with Federal Assist
Texas oil and natural gas regulators have surpassed legislative targets for fiscal year (FY) 2023, which included plugging 75% more orphaned wells than required with the support of federal funding. The Texas legislature sets annual targets for the Railroad Commission of Texas (RRC) to carry out a certain number of pipeline inspections and wellhead inspections,…