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What’s Ahead for Lower 48 Oil and Gas Players in 2022? Listen Now to NGI’s Hub & Flow

What’s Ahead for Lower 48 Oil and Gas Players in 2022? Listen Now to NGI’s Hub & Flow

Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which NGI’s Patrick Rau, director of Strategy & Research, shares takeaways from the third quarter energy company earnings results and insight into what’s ahead for operators in the Lower 48. In “Shale 4.0 — Natural Gas Earnings Takeaways from 3Q21,”…

December 1, 2021
Xfuels to Acquire Oil, Gas Wells in Kansas and Oklahoma

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

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…

November 29, 2021
U.S. E&Ps Said on Verge of ‘Energy Super Cycle’ Heading into New Year

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
Northern Oil Builds on Acquisition Spree with Another Permian Deal

Northern Oil Builds on Acquisition Spree with Another Permian Deal

Northern Oil and Gas Inc. has agreed to acquire “substantially all” the nonoperated Permian Basin assets owned by affiliates of Veritas Energy LLC, including 6,000 oil-weighted net acres. The transaction for $406.5 million was announced earlier this month. “This transaction completes the strategic transformation of our business that began in 2018,” CEO Nick O’Grady said.…

November 22, 2021
Goodrich Going Private in $480M Deal as Haynesville — and Natural Gas Prices — Heat Up

Goodrich Going Private in $480M Deal as Haynesville — and Natural Gas Prices — Heat Up

Publicly listed independent Goodrich Petroleum Corp. has agreed to be taken private by Paloma Partners VI Holdings LLC in a deal valued at roughly $480 million. Paloma, an affiliate of EnCap Energy Capital Fund XI LP, plans to launch a tender offer to acquire for $23/share in cash all of Goodrich’s outstanding common stock.  Goodrich…

November 22, 2021
Sino American, Estacado Considering Texas Oilfield Venture

Sino American, Estacado Considering Texas Oilfield Venture

Sino American Oil Co. reported Tuesday that it plans to acquire a majority stake in a North Texas oil field. The Wyoming-based company said that it would obtain a majority working interest in the Piave Oil Field, located in Throckmorton County, TX, by way of a newly signed memorandum of understanding (MOU) with Estacado Energy…

November 19, 2021
‘Compelling Industry Logic’ Leads Noble, Maersk to Tie Knot, Merge Offshore Drilling Fleets

‘Compelling Industry Logic’ Leads Noble, Maersk to Tie Knot, Merge Offshore Drilling Fleets

Houston-based Noble Corp. and Denmark’s Maersk Drilling Co. on Wednesday agreed to merge their estimable offshore fleet, comprised of 20 floaters and 19 jackup rigs, in an all-stock merger valued at $3.4 billion.  Offshore drilling is an expensive undertaking because developments often take years to complete before production is flowing. In addition, moving equipment and…

November 10, 2021
India’s Reliance Exits North America in Eagle Ford Deal with Ensign

India’s Reliance Exits North America in Eagle Ford Deal with Ensign

A unit of Indian conglomerate Reliance Industries Ltd. reported Monday that it has divested all of its unconventional natural gas assets and has exited North America. Earlier this year Reliance pulled out of Appalachia. The latest exit follows Ensign Natural Resources LLC’s buyout of Reliance Eagleford Upstream Holding LP’s working interest in leases and wells…

November 9, 2021
Xebec Eyes 500% RNG, Hydrogen Tech Output Jump with UEC Acquisition

Xebec Eyes 500% RNG, Hydrogen Tech Output Jump with UEC Acquisition

Canada-based Xebec Adsorption, Inc. aims to expand production capacity 500% in North America for its renewable natural gas (RNG) and hydrogen technologies. By closing on its acquisition of Colorado-based UEC Compression, Xebec said last week it has established a “cost-effective and timely pathway” toward reaching the five-fold increase in output.   UEC, based in the Denver…

November 9, 2021
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