The Latest

Phillips 66 Weighs Divestments, Targets Renewable Fuel Increase

Phillips 66 looks to boost renewable fuels production by 67% through the end of the second quarter 2024 at its Rodeo complex in San Francisco while weighing a potential divestiture of its retail marketing businesses in Austria and Germany.

Chouest Acquires ROV Company ROVOP to Expand Subsea Capabilities

With the acquisition of ROVOP, Chouest will have a fleet of more than 100 ROVs.

FTC OKs Exxon-Pioneer Merger, but Bars Sheffield from Exxon’s Board

A megamerger between Exxon Mobil and Pioneer Natural Resources can proceed, but Pioneer Chairman Scott Sheffield is out, the Federal Trade Commission says.

Stice: Diamondback’s Small Company Culture Suits Big M&A Appetite

Diamondback Energy CEO Travis Stice tells analysts that the company’s nimble nature is among its top qualities, allowing for rapid growth and the successful integration of Endeavor Energy this year.

Comstock Adds Four Whopper Wildcats; Takes Western Haynesville to 450K

Comstock Resources' four newest wells, which IP’ed at more than 35 MMcf/d, were landed at up to 19,400 feet total vertical depth.

Analyst: Exxon Mobil, Pioneer Deal Close Likely ‘Imminent’

With approval from the Federal Trade Commission, Exxon Mobil could close its $59.5 million acquisition of Pioneer Natural Resources after more than six months of review.

CPS Closes $785MM Deal for Talen Energy’s Texas NatGas Plants

CPS Energy has acquired all assets associated with the 897-MW Barney Davis and 635-MW Nueces Bay natural gas plants in Corpus Christi, Texas, and the 178-MW natural gas plant in Laredo, Texas.

Wirth: Chevron Won’t Put ‘New Capital into Venezuela’

California-based Chevron Corp. doesn’t plan on allocating more capex into its operations in Venezuela even though it still has U.S. approval to operate there, despite Washington sanctions.

Decoding the Delaware: How E&Ps Are Unlocking the Future

The basin is deeper, gassier, more geologically complex and more remote than the Midland Basin to the east. But the Delaware is too sweet of a prize to pass up for many of the nation’s top oil and gas producers.

Equinor Says EQT Asset Swap Upgrades International Portfolio

Equinor CFO Torgrim Reitan says the company’s recent U.S. asset swap with EQT Corp. was an example of the European company “high-grading” its international E&P portfolio.