Stock prices of US natgas producers soar as gas futures soar
Gas futures prices have risen by 27% in the last seven days, reaching a two-year high. The extreme cold of recent days has pushed U.S. Gas Futures up to $4.42 per million British Thermal Units (mmBtu) at midday on Wednesday. This puts the front-month just a few cents away from the closing high of $2.258, which was reached on January 16 of this year. The increase in gas futures has helped Devon Energy's stock, which announced earnings on February 18th, to reach a three-month high at $38.58 by midday Wednesday. Devon reported that the total revenue from oil, gas, and midstream sales, as well as natural gas liquids, was $4.4 billion.
Sources: Validus Energy will buy natural gas producer, 89 Energy III, for $850 Million.
Sources familiar with the deal said that Validus Energy, a privately owned U.S. gas and oil producer, has agreed to purchase 89 Energy III, a rival company, for $850 million including debt. According to sources, the deal will add more than 25,000 barrels equivalent to oil per day to Validus’s growing footprint in Oklahoma's Anadarko Shale Basin, making it one of the biggest private players in U.S. Mid-Continent region oil. According to its website, 89 Energy III produces 70% gas. Kayne Anderson announced the formation of this company in May 2021, after a merger between three Mid-Continent oil and gas producers.
Equinor will continue with the Rosebank oil and Gas Project in Britain
The UK manager of Equinor, the Norwegian oil and natural gas producer, said Wednesday at a conference on energy in New Delhi that the company will continue to develop its Rosebank oil field. Equinor, along with its partner Ithaca Energy, wants to develop the Rosebank Oil and Gas Field. However the plans to develop one of Britain's final major oil reservoirs have been a lightning-rod for climate activists who are calling for an end to fossil fuel production. The British Prime Minister Keir starmer said that while his government would not be issuing new exploration licenses, it would not revoke any existing ones.
Chevron is struggling to replace its oil and gas reserves amid uncertainty surrounding the Hess deal
Chevron’s oil and natural gas reserves are at their lowest level in more than a decade. This highlights the importance of its planned acquisition of oil producers Hess, which has been stalled by a legal battle with Exxon Mobil. Investors in energy companies use reserve replacement as a key metric. It gives them an idea of how much gas and oil the company could produce, and how long. Chevron would be able to gain a stake on the lucrative oilfields in Guyana, which are run by Exxon, Chevron’s main rival. Exxon…
Sources say that RPT-Encino owner is considering a $7 billion sale and IPO.
CPP Investments, a Canadian pension fund, is considering strategic options for Encino Acquisition Partners, such as a sale or an initial public offering that could value Encino Acquisition Partners at up to $7 billion including debt. The energy industry has been anticipating a boost from President Donald Trump's administration, which has outlined an economic agenda that aims to increase fossil-fuel production by speeding up the approval process for energy projects, and rolling back environmental protections.
Sources: Encino's owner is considering a $7 billion sale and the IPO of an energy producer.
CPP Investments, a Canadian pension fund, is considering strategic options for Encino Acquisition Partners, such as a sale or an initial public offering that could value Encino Acquisition Partners at up to $7 billion including debt. The energy industry has been anticipating a boost from President Donald Trump's administration, which has outlined an economic agenda that aims to increase fossil-fuel production by speeding up the approval process for energy projects, and rolling back environmental protections.
Sources say that US energy company Talos is set to name Shell CEO Goodfellow its next CEO
Two people with knowledge of the matter confirmed on Sunday that Talos Energy is preparing to appoint veteran Shell executive Paul Goodfellow, as its new CEO. Sources said that the appointment of Goodfellow who is currently the chief internal auditor for Shell is expected to be made this week. They requested anonymity as the matter was confidential. Goodfellow succeeds Tim Duncan, the long-time founder and CEO of Talos. Duncan abruptly left the firm in August after 12 years of service. He had helped it become the fifth largest oil and gas producer in the U.S. Gulf of Mexico.
Australia's Origin Energy lowers its APLNG production for 2025
Origin Energy announced on Friday that it expects Australia Pacific LNG to produce less in 2025. However, the company reported a sequential increase of 11% in its second-quarter revenues from its stake in this project due to higher gas prices. The power producer expects production in 2025 from APLNG, Origin's joint-venture with U.S. oil major ConocoPhillips (and Sinopec) -- to be between 670-690 Petajoules. This is 2%-3 % lower than its previous guidance. Origin's forecast was impacted by the lower performance of some Queensland projects and weaker performance in non-operated asset due to unplanned maintenance.
Chevron will build gas plants for data centers in the AI boom
The oil and gas company Chevron announced on Tuesday that it will build natural gas power plants near data centers in the U.S. as the energy demand for artificial intelligence growth is expected to grow. The second largest U.S. oil and gas producer has partnered with Engine No. The project is a partnership between Engine No. 1 and electric service company GE Vernova. Chevron announced the project a day after Chinese startup DeepSeek revealed an AI model it claims uses much less computing power than leading models in the United States.
Santos Australia targets higher output in 2025, pinning hopes on Barossa Project
Santos, Australia's largest oil and gas company, forecast higher production for fiscal 2025 based on the expectation that Barossa will start production this year. The company also reported a sequential increase in its fourth quarter revenue on Thursday. Santos is the second largest independent gas producer in the country. Santos, the country's no. Visible Alpha's consensus was 89.9 million mmboe. If gains continue, shares could rise as high as 1.7% at A$7.250. This would be the best day for trading since January 13, 2013. As of 0046 GMT, the broader ASX 200 was down by 0.3%.
Can Trump reverse Biden's offshore oil drilling ban?
In an executive order issued on Monday, President Donald Trump revoked the ban placed by former Democratic president Joe Biden against new offshore oil-and-gas development along most of America's coasts. Trump will face legal challenges regarding his authority. What did BIDEN and Trump do? Biden used his authority, granted by the Outer Continental Shelf Lands Act of 1970, to stop oil and gas drilling in federal waters along the East and Western coasts of the United States as well as the eastern Gulf of Mexico. He also halted the drilling of portions of the northern Bering sea of Alaska.
TSX reaches 5-week highs as US trade tariffs are held back
Investors expressed relief at the news that President Donald Trump would not impose immediate U.S. tariffs on Canada. The Toronto Stock Exchange S&P/TSX Composite Index closed up 103.66, or 0.4% at 25,171.58, marking its fifth consecutive day of gains, and highest closing level since December 13. A Trump administration official confirmed that Trump would issue a general trade memo on his first day of office. The memo will not impose new tariffs but will direct federal agencies to evaluate U.S. trading relationships with China Canada and Mexico. Trump had threatened to impose a 25% immediate tariff on Canadian goods.
Russia's proposed gas pipeline to Iran
The Russian President Vladimir Putin announced on Friday plans to build a pipeline to Iran that will eventually transport up to 55 billion cubic meters (bcms) of gas per year into the West Asian nation. Here are some background details about the cooperation between Iran, Russia and the gas sector. Iran is the second largest gas producer in the world after Russia. However, U.S. sanctions are preventing access to technology as well as slowing down gas exports. In July 2022, the National Iranian Oil Company and Russian energy giant Gazprom agreed to a Memorandum of Understanding worth about $40 billion.
Beware of Egypt's smokestack reshoring as Cement Exports Soar: Maguire
North Africa's second largest natural gas producer and its largest economy have increased the production and exports of several energy-intensive commodities in an effort to boost the growth of their industrial sector. Egypt's exports of chemicals, fertilizers, and cement doubled from 2022 to 2024. They have also grown by 350% in the last year thanks to government initiatives aimed at promoting rapid industrial growth. The increased output in Egypt coincides with a decrease in production in Europe of the same commodities.
Beware of Egypt's smokestack reshoring as Cement Exports Soar: Maguire
North Africa's second largest natural gas producer and its largest economy have increased the production and exports of several energy-intensive commodities in an effort to boost the growth of their industrial sector. Egypt's exports of chemicals, fertilizers, and cement doubled from 2022 to 2024. They have also grown by 350% in the last year thanks to government initiatives aimed at promoting rapid industrial growth. The increased output in Egypt coincides with a decrease in production in Europe of the same commodities. This trend highlights the growing re-shoring away from areas of high energy costs and pollution control.
Bloomberg News reports that Civitas Resources is considering selling DJ Basin assets.
Bloomberg News reported Wednesday that oil and gas producer Civitas is considering selling part or all its assets located in the Denver-Julesburg Basin in Colorado. These assets could be worth more than $4 billion. The report cited people who were familiar with the situation as saying that the company was working with a financial advisor to gauge buyer interest. If it received a sufficiently appealing offer, they would be willing to divest fully from the basin. Civitas didn't immediately respond to our request for comment. Gabriele Sorbara is an analyst with Siebert Williams Shank.
Sources say that OMV's Romanian subsidiary has agreed to supply gas to Germany
Three people with knowledge of the situation have confirmed that OMV's Romanian subsidiary has signed a contract to supply Uniper gas from its Black Sea Project starting in 2027. This comes as Europe looks for new ways to increase energy security following the breakup with Russia. The deal, which was not disclosed before, is for a five-year supply of 15 terawatts of natural gas to be delivered by the Neptun Deep Project. This comes after Russia stopped gas deliveries via Ukraine last month and the European Union began to reduce its energy purchases due in part to Moscow's invasion of Ukraine.
Sources say that Austria's OMV Romanian unit has agreed to supply gas to Germany
Three people with knowledge of the situation have confirmed that Austria's OMV Romanian has signed a contract to supply Germany's Uniper gas from its Black Sea Project from 2027. This is as Europe looks for new ways to increase energy security following its breakup with Russia. The deal, which was not disclosed before, is for a five-year supply of 15 terawatts of natural gas to be delivered by the Neptun Deep Project. This comes after Russia stopped gas deliveries via Ukraine last month and an overall reduction in energy purchases made by the European Union from Moscow as a result of its invasion of Ukraine.
Sources: Austria's OMV has agreed to supply Romanian Gas to Germany
Three people with knowledge of the deal said that Austria's OMV will supply Germany's Uniper gas from its Black Sea Project from 2027. This comes as Europe looks for new ways to increase energy security following the breakup with Russia. The deal, which was not disclosed before, is for a five-year supply of 15 terawatts of natural gas to be delivered by the Neptun Deep Project. This comes after Russia stopped gas deliveries via Ukraine last month and a general slowdown in energy purchases made by the European Union from Moscow because of its invasion of Ukraine.
Gazprom expects the price of export gas to decline in 2025
Gazprom, the Russian gas producer, said that it expects to see export gas prices fall below current levels in Europe and Asia in 2025 and on average lower than 2024. The Russian economy ministry also stated that it expects the price of Gazprom gas outside ex-Soviet Union countries to fall by 2025. It is expected that prices will average $304.4 per 1000 cubic metres, down from projected $328.4 for this year. Gas sales in Europe are falling, and the company is facing challenges. The current transit agreement with Ukraine expires by the end of this year.
