Mikaila Adams

2 days ago | ogj.com | Mikaila Adams

Phillips 66 to sell 65% interest in Germany, Austria retail marketing business for $1.6 billionPhillips 66 will retain a non-operated 35% interest in the business through a newly formed joint venture. A Phillips 66 subsidiary, Phillips 66 Continental Holding GmbH, has agreed to sell a 65% interest in its Germany and Austria retail marketing business, including JET-branded sites, to Carrera Bidco Ltd., whose shareholders are subsidiaries of investment Energy Equation Partners and Stonepeak.

1 week ago | ogj.com | Mikaila Adams

Permian Resources Corp., Midland, has agreed to acquire northern Delaware basin acreage from APA Corp. in a $608-million bolt-on deal with inventory that immediately competes for capital. Through the agreement, the company will acquire about 13,320 net acres, 8,700 net royalty acres, and expected second-half 2025 production of 12,000 boe/d (45% oil) within its core New Mexico operating areas, Permian Resources said as part of its first-quarter 2025 earnings report.

1 week ago | ogj.com | Mikaila Adams

Alan Armstrong, WilliamsWilliams Cos. Inc., Tulsa, Okla., has named Chad Zamarin to succeed Alan Armstrong as president and chief executive officer. Armstrong, who has served as the company’s chief executive for the past 14 years, will become executive chairman of the Williams board of directors, effective, July 1, 2025, the company said in a release May 5.

1 week ago | ogj.com | Mikaila Adams

Beacon Offshore Energy LLC, Houston, along with its Gulf of Mexico Wintershall development partners, are evaluating a future sidetrack to produce reserves after remediation of the Winterfell-3 well was unsuccessful. Kosmos Energy Ltd., a 25% partner in the development, provided the update as part of its first-quarter 2025 report on May 6.

2 weeks ago | ogj.com | Mikaila Adams

EIA estimates 2.7 million-bbl drop in US crude stockpilesThe agency’s latest weekly Petroleum Status Report notes that crude inventories are about 6% below the 5-year average for this time of year. US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, recorded a weekly decline of 2.7 million bbl to 440.4 million bbl during the week ended Apr. 25, data from the US Energy Information Administration (EIA) indicates.