Energy Transition

California Resources Corp. (CRC), the state’s largest producer, said it is ahead of schedule in meeting a list of climate change goals by 2030 and shrinking its carbon footprint. Established four years ago, the environmental, social and governance (ESG) initiatives address water, renewable energy, methane emissions and carbon capture in the oilfield operations. Compared to…

Baker Hughes Co. is helping to front a hydrogen infrastructure fund as a cornerstone investor with Chart Industries Inc. and Plug Power Inc. Fuel cell manufacturer Plug Power intends to commit $200 million to the FiveT Hydrogen Fund, with infrastructure giants Chart and Baker Hughes each committing $60 million to sponsoring the fund. The Euro-denominated…

BP plc reached its $35 billion net debt target during the first quarter, ahead of plan, and is looking to return some of the surplus cash flow to shareholders, CEO Bernard Looney said Tuesday. The London-based operator by the end of March had received around $4.7 billion in proceeds from various global asset sales. “This…

As Latin American nations establish aggressive climate goals, hydrogen is poised to become an important part of the energy puzzle, but numerous operators in the region are thinking bigger and toward the global market. Latin America could become “a key contributor to the global push toward low‑carbon hydrogen,” according to a recent study by the…

President Biden’s $2.25 trillion American Jobs Plan has generated mixed reactions from the fossil energy industry, as Biden is asking Congress to raise corporate taxes in order to accelerate the clean energy transition. The jobs and infrastructure package underscores the “whole-of-government” approach Biden is taking toward climate and energy policy, a shift from previous administrations.…

Permian Basin-focused Solaris Midstream Holdings Inc. said it has completed offering $400 million in senior unsecured notes for the first sustainability linked bond (SLB) in the produced water infrastructure industry. The Houston-based operator, parent company to Solaris Water Midstream LLC, said the notes were a “landmark issuance.” SLBs, which are used for general corporate purposes,…

Dominion Energy Inc. Executive Chairman Thomas F. Farrell II, 66, died on Friday after battling cancer.  Tom, as he was known to family, friends and employees, was chairman, president and CEO of Dominion from 2007-2020. He had joined the Richmond, VA-based company in 1995 as general counsel after serving in private practice for 15 years. …

Exactly what hydrogen means for the future of natural gas remains a burning question as the energy transition unfolds. The potential for hydrogen has loomed for decades, but it has yet to be realized in large measure because of its relatively high costs.  More regulations and government subsidies to galvanize a shift away from fossil…

The Bureau of Land Management (BLM) plans to incorporate potential climate impacts into a revamped resource management plan (RMP) for oil and gas leasing in western Colorado that covers nearly one million acres. The U.S. District Court for the District of Colorado last week approved the Interior Department agency’s request to remand the 20-year RMP…