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,...
The U. S. Has No Business in the Paris Climate Accords
In March 2019,   House of Representatives Speaker Nancy Pelosi unveiled the Climate Action Now Act which was a bill that essentially forbids the US withdrawal from the Paris Climate Accords.   At the same time Senate Minority Leader, Chuck Schumer announced a new Democratic committee on climate change that would...
New Mexico State Land Office Halts Fresh Water to Oil and Gas Industry
Last Tuesday, December 15, the New Mexico State Land Office announced they would be halting the sale of freshwater to oil and natural gas companies for hydraulic fracturing. Many companies had already been developing ways of recycling the water used in the fracking process. The halt of sales of...
November Sees Increase in Oil-Field Services Jobs
Plagued with challenges, including COVID-19 and a downturn, the energy sector has witnessed positive growth. Identified as the 3rd month of gains, November experienced an increase in drilling and production activity with the addition of 2,665 jobs. According to the Petroleum Equipment & Services Association’s interpretation of the Bureau of...
Elon Musk Leaves California
The second wealthiest man in the world, Elon Musk, has moved from California to Texas. In an interview with the Wall Street Journal, he cited California taking “innovators for granted” as one of the main move factors. Tesla still has its headquarters in California, but a new facility is...
China: Creating An Artificial Sun on Earth
Nuclear fusion has long been the unattainable dream of clean energy. Unlike nuclear fission, it creates no greenhouse gases or waste. Nuclear fusion is the same process powering the sun. According to Merriam-Webster, it is the fusing of two atomic nuclei to form a heavier nuclei, resulting in the...
OPEC+ to Increase Production
Despite strains within the group, a decision was made and agreed upon to increase crude oil production among Russia and the Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+. The increase, however, will be modest in size. Starting in January, they will increase production by 500,000...
Pennsylvania Governor Vetoes Environmental Bill
Hoping for eased environmental reporting provisions, conventional oil and gas drillers were instead met with disappointment as Governor Tom Wolf vetoed a bill that would have accomplished that feat. Wolf stated that although the bill addressed challenges faced by the energy industry, it failed to sufficiently protect the environment. Additionally,...
Los Alamos Science Shows Improvements in Shale Natural Gas Production
Questioning the current consensus of how methane is captured in rock, a Los Alamos Laboratory research team released a more efficient approach to retrieving that advantageous gas. “The most challenging issue facing the shale energy industry is the very low hydrocarbon recovery rates: less than 10% for oil and 20%...
UAE Quitting OPEC?

UAE Quitting OPEC?

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In the spring, when it was apparent that something had to be done, OPEC and the OPEC+ countries consented to implementing production cuts. And Russia and OPEC managed to set aside the price war they had begun in consideration of the global good. It was agreed way back then...