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3 weeks ago | 
jpt.spe.org | Trent Jacobs |Asia. Areas
Oil and gas executives across the southwestern US are expressing concern over new tariffs and mixed signals from Washington, DC, even as the White House calls on domestic producers to ramp up output, according to the latest Federal Reserve Bank of Dallas energy survey. Released 26 March, the quarterly survey captures business activity and sentiment across the Federal Reserve’s 11th District, which includes Texas, northern Louisiana, and southern New Mexico.
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3 weeks ago | 
jpt.spe.org | Trent Jacobs |Asia. Areas
The US exported an average of 11.9 Bcf/D of liquefied natural gas (LNG) in 2024, maintaining its position as the world’s leading LNG exporter, according to a 27 March report issued by the US Energy Information Administration (EIA). The EIA described the export volumes as "essentially flat" compared with 2023, attributing this to factors including unplanned outages at LNG processing facilities, reduced demand from Europe, and minimal capacity expansions since 2022.
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1 month ago | 
jpt.spe.org | Trent Jacobs |Asia. Areas
Petrobras announced this week that production at its Búzios field offshore Brazil has reached a record 800,000 B/D following the startup of its sixth floating production, storage, and offloading (FPSO) unit, the Almirante Tamandaré. The field, located in the pre-salt Santos Basin about 180 km off the coast of Rio de Janeiro, is the second largest in Brazil by production volume and reserves, following the Tupi field.
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2 months ago | 
jpt.spe.org | Trent Jacobs |Asia. Areas
Diamondback Energy said on 18 February that it is acquiring subsidiaries of Double Eagle IV in a deal valued at more than $4 billion. The transaction includes $3 billion in cash and 6.9 million shares of Diamondback stock in a move that the company said hands it the biggest target still available in the Midland Basin side of the Permian Basin in Texas.
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2 months ago | 
jpt.spe.org | Trent Jacobs |Asia. Areas
US upstream dealmaking is showing clear signs of slowing, according to a year-end report from Enverus Intelligence Research (EIR), which recorded $105 billion in mergers and acquisitions (M&A) for 2024. While this marks the third-highest annual total the firm has ever recorded in the US sector, EIR noted that the fourth quarter saw just $9.6 billion in deals, marking the fourth straight quarter of declining M&A value.
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Dec 5, 2024 | 
jpt.spe.org | Trent Jacobs |Asia. Areas
Equinor and Shell have announced plans to establish a joint venture to "sustain domestic oil and gas production and security of energy supply in the UK."In separate releases, the companies said the new operating entity, which has yet to be named, will become the UK's largest independent oil and gas producer. The venture will be owned equally by Equinor and Shell and will consolidate their UK Continental Shelf (UKCS) assets to enhance cost efficiencies.
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Dec 3, 2024 | 
jpt.spe.org | Trent Jacobs |Asia. Areas
Despite its reputation as a leader in upstream innovation, Canada lacks a dedicated test site where operators and developers can trial emerging technologies. That may soon change, as Alberta’s government recently proposed earmarking $50 million from an industry-funded program to establish the country’s first open-access test well site, called the Alberta Drilling Accelerator.
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Dec 1, 2024 | 
jpt.spe.org | Trent Jacobs |Asia. Areas
You may have noticed something a little different about JPT recently—me. While I’ve been part of this publication’s journey since 2010, I am honored to now step into the role of managing editor, taking over from Pam Boschee. Pam, who deftly helmed JPT and its sister publications for almost 5 years, will continue leading our group as the director of SPE’s magazines.
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Nov 14, 2024 | 
jpt.spe.org | Trent Jacobs |Asia. Areas
US independent Ovintiv announced on 14 November that it has agreed to purchase Paramount Resources' core assets in Alberta's Montney Shale in an all-cash deal valued at over $2.3 billion. Ovintiv also disclosed it is divesting its entire position in Utah's Uinta Basin for $2.0 billion in cash. The Denver-based tight-oil producer said its Montney acquisition includes approximately 109,000 net acres, producing about 70,000 BOE/D.
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Nov 10, 2024 | 
jpt.spe.org | Trent Jacobs |Asia. Areas
The Abu Dhabi National Oil Company (ADNOC) and carbon-mineralization startup 44.01 announced on 5 November week that their first CO₂-to-rock pilot in the UAE successfully converted 10 metric tons of CO₂ into rock within 100 days. Following the pilot, the companies aim to advance the technology through a larger project targeting the injection of 300 metric tons of CO₂. The companies said the planned scaleup marks a step toward commercializing the emerging CO₂ sequestration technology.
