How Top Oil & Gas Companies Use Predictive Analytics
Attempting to prevent a catastrophic electrical grid collapse, Texans endured mass power outages instituted by the Electric Reliability Council of Texas (ERCOT) in response to the unprecedented February winter storm that plagued the state. Leaving citizens chilled for several days and nights, electricity moguls are experiencing an icy response...
INSTEAD OF A PREDICTION, HERE’S A PLAN
Crude prices rocketed skywards Thursday afternoon after the OPEC+ countries made the decision to largely continue its status quo on crude exports limits. The move came as a surprise to the markets, which had expected the group to increase its combined export volumes by as much as 1 million...
China: Two Roads Diverged in a Polluted Wood
Permanent Fracking and Drilling Bans Flow Down the Delaware River Citing unacceptable risk, the Delaware River Basin Commission voted at the end of February to indefinitely rid the area of natural-gas drilling and fracking. Responsible for upwards of 13 million people’s water supply, the commission indicated a crucial waterway was...
Pennsylvania Governor Vetoes Environmental Bill
In one of the gutsiest political maneuvers recently made, Governor Kevin Stitt defended Oklahoma jobs and citizens’ well-being by taking a page from the Biden playbook. By signing Executive Order 2021-03, the federal government’s attempt to control and influence the state’s oil and gas industry was severely thwarted. “Energy production...
UPDATE: Shortly after Lt. Gov. Dan Patrick called for her resignation, PUC Chairwoman DeeAnn Walker resigned from her position. In her resignation statement, Walker acknowledged what we have been writing for the past two weeks - that everyone involved in the Texas power grid, including the PUC, ERCOT, power providers...
Hollywood Wages War on Dakota Access Pipeline
With celebrities abandoning their craft and switching gears to advocating against the oil and gas industry, it can easily lead audiences to believe there really are no more good ideas for movies left out there. Continuing their latest crusade against pipelines, the Dakota Access Pipeline finds itself in the...
Wyoming’s Powder River Basin Sees BLM Approval for 5000 New Oil Wells
Wyoming’s Converse County received a late December Christmas present when the Bureau of Land Management (BLM) approved the development of 5,000 oil and gas wells in the Powder River Basin. Anticipating the Biden inauguration, there was a big push to ink the deal that finally came to fruition after...
FERC Breathes New Life into Mountain Valley Pipeline
With political winds changing direction and the oil and gas sector awaiting the entrance of the Biden administration, the Federal Energy Regulatory Commission (FERC) approved Mountain Valley Pipeline’s request last week to revisit construction on a tract of land around Jefferson National Forest. With progress being the apparent driving...
Diamondback Energy, Inc. Announces Midland Basin Acquisition
MIDLAND, Texas, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced it has entered into a definitive purchase agreement to acquire all leasehold interests and related assets of Guidon Operating LLC ( “Guidon” or the “Seller”) in exchange for 10.63 million shares of Diamondback common stock and $375...
Diamondback Energy, Inc. to Acquire QEP Resources in All-Stock Transaction
MIDLAND, Texas, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) and QEP Resources (NYSE: QEP) (“QEP”) today announced that they have entered into a definitive agreement under which Diamondback will acquire QEP in an all-stock transaction valued at approximately $2.2 billion, including QEP’s net debt of $1.6 billion as of September 30,...