Equatorial Guinea LNG shareholder Marathon Oil completes $3Bln acquisition of US Eagle Ford assets
Marathon Oil Corp., the shareholder in Equatorial Guinea LNG in West Africa, has completed the acquisition of private equity-backed firm Ensign Natural Resources for $3 billion in cash to almost double its position in the Eagle Ford shale basin of South Texas.
International Energy Agency report on investment sees US LNG and shale advancing with Mideast upstream
Russia’s invasion of Ukraine has upended the fuel investment landscape and intensified a commodity price shock with record earnings likely to be invested in new projects worldwide, including LNG export and imports projects over the next 10 years.
Japan Petroleum Exploration plans $500M US shale investments while boosting Asian and domestic LNG
Japan Petroleum Exploration (Japex), which operates the main LNG import terminal in Japan’s Fukushima Prefecture and has a stake in an LNG receiving terminal in the Vietnamese port city of Haiphong, said it was also planning to expand its shale oil and gas interests in the US.
US Permian Basin activity underpins future source of associated gas in absence of too much interference
Permian Basin activity hit an all-time high in March 2022, with more than 900 permits awarded for horizontal drilling for new wells, driven by increasing oil prices and production demand in the basin with abundant associated natural gas.
Leading US hurricane forecasters expect more active season that could disrupt LNG exports and GoM output
One of the most respected meteorologist groups in the United States has forecast a more active US Gulf Coast hurricane season in 2022 that would lead to the temporary shutting of oil and gas production and LNG export facilities.
Equinor sells US Bakken shale assets and reports LNG negatives for Tanzania and Hammerfest
Equinor of Norway, the largest natural gas producer in Western European fields, said it was selling its assets in the oil-rich Bakken shale formation in the US states of North Dakota and Montana as it reported quarterly and annual losses and wrote-down assets by almost $1 billion on the Tanzania LNG project.
Natural gas and LNG for export fare better than oil and coal in a pessimistic US Annual Energy Outlook
Natural gas and LNG for export fare better that oil and coal in the latest US Annual Energy Outlook as the US Government stated that the Covid-19-related decline in demand for delivered energy was 70 percent more than in the financial crisis of 2008, with some US demand sectors taking up to 10 years to recover to 2019 levels.
US natural gas reserves fall for first time since 2015 but increase in Ohio, Pennsylvania and Louisiana
Reserves of natural gas in the United States decreased by 1.9 percent, the first annual decline in the country since 2015, though they remained at their second-highest level ever and three states Ohio, Pennsylvania and Louisiana boosted their proved gas resources.
African Energy Chamber urges Africa to support LNG producer Angola during 2021 OPEC presidency
Angola, the southwest African oil and gas and LNG producer, is hoping for the full support of African nations during the 2021 Angolan presidency of the Organisation of Petroleum Exporting Countries (OPEC) and for resistance to growing pressure from Western lobby groups aimed at killing the oil industry globally under the guise of saving the planet.
Occidental haunted by debt after Mozambique LNG win and seeks bids for Wyoming and Colorado acreage
Occidental Petroleum Corp., the winner of the bidding last year for Anadarko Petroleum and its Mozambique LNG prize, has asked for bids by July 1 for oil and gas properties in the US states of Wyoming and Colorado as it is brought low by debt.
