Energy News Beat US liquefied natural gas (LNG) exports decreased in the week ending December 20 compared to the week before, according to the Energy Information Administration. The agency said in its weekly natural gas report that 22 LNG carriers departed the US plants between December 14 and December 20, six vessels less compared to […]
Energy News Beat 3 Podcasters Walk in a Bar – Episode 41 Highlights of the Podcast: 03:16 – The conference of the past 05:30 – The president of the UK put in a very good note 08:50 – The Crude Truth for the energy transition 12:03 – The EIA put out those rules 13:48 […]
Energy News Beat Inflation is like so not defeated? Jacking up prices faster than costs are rising creates stunning profits. Strong demand sees to it that companies can do it. By Wolf Richter for WOLF STREET. Overall corporate pre-tax profits (excluding the Federal Reserve Banks), jumped by 3.4% in Q3 from Q2, and by 5.5% year-over-year, to a […]
Energy News Beat China will halt the export of a range of rare-earth technologies, potentially making it harder for the US and other western nations to bolster supplies of strategic raw materials. Beijing put technology for making rare-earth metals and rare-earth magnets on a list of items can’t be transfered overseas, according to a document from the […]
Energy News Beat The three most dangerous words in the oil market are “OPEC is dead.” The oil cartel’s obituary has been written many, many times — and always prematurely. The almost non-stop departure of member countries during the past decade – Indonesia in 2016, Qatar in 2019, Ecuador in 2020 — have provided ample opportunity to […]
Energy News Beat Exxon Mobil is set to acquire Pioneer Natural Resources, which will increase its oil and gas sales and make it the largest player in the Permian Basin. The oil market balance is expected to be influenced by voluntary production cuts from OPEC+ countries and concerns over slowing global demand. The forecast for […]
Energy News Beat TotalEnergies (XPAR: TTE) has agreed to sell 25.5% of Seagreen, Scotland’s largest offshore wind farm, in a £552m deal with Thailand national oil firm PTTEP. The French energy major said the deal implies an enterprise value of $4.3bn, more than 13 times the expected average EBITDA of the project over the next […]
Energy News Beat Russian President Vladimir Putin has signed decrees granting his government power to confiscate and forcibly sell off billions of dollars worth of assets belonging to European energy firms to new state-approved owners. In a decree published Wednesday, the Kremlin mandated the creation of new Russian-run companies to take over shares in the colossal Yuzhno-Russkoye […]
Energy News Beat The demand from the Biden administration and Gavin Newsom to make every car an EV in the near future suffered another devastating blow on Tuesday. In October, Ford announced it was pulling the plug on a massive, $12 billion investment in electric car design and production. That came after the company announced massive losses […]
Energy News Beat Michael and I love evaluating deals. Today is an excellent example of the M&A activity heating up in the oil and gas market. This deal between Occidental and CrownRock has some key takeaways, which we cover. This was a great exercise in reviewing the deal. While using the tools, I looked at […]
Pecos Country Operating, LLC is a privately owned oil and gas exploration and production company headquartered in Fort Worth. We own and operate wells across the South Central United States with our predominant means of production coming out of West and North Texas.
