Centennial Resource Development and Colgate Energy Partners III, LLC have agreed to combine in a $7.0-billion merger of equals, creating the largest pure-play exploration and production (E&P) firm in the Delaware Basin in the Permian, the companies said on Thursday. The combined firm will be the largest pure-play E&P company in the Delaware Basin, with

Global LNG demand will more than double from 356mn tonnes in 2020 to 800mn tonnes by 2050, “fuelled by solid demand from Asia and a rise in gas use for powering hard-to-electrify sectors”, according to the Gas Exporting Countries Forum (GECF). The biggest regasification capacity additions to 2050 are expected in Asia Pacific, GECF said

U.S. natural gas futures fell 10% on Tuesday, in a technical correction aided by a shift to a slightly warmer weather outlook after expectations of a cold snap sent prices soaring to an over 13-year peak in the last session. Front-month gas futures slipped 10% to $7.033 per million British thermal units as of 10:57

The U.S. Energy Information Administration (EIA) forecast in a report on Tuesday that the consumption of natural gas in the country will average 84.1 billion cubic feet per day (Bcf/d) in 2022, up 1 percent from 2021. In its April’s Short-Term Energy Outlook (STEO), EIA said the increase is a result of colder forecast temperatures

U.S. natural gas futures rose about 5% to a near-nine week high on Wednesday as worries about Russia’s plan to price energy exports in rubles caused global energy prices to spike, keeping demand for U.S. LNG exports near record highs. That U.S. gas price gain came despite forecasts for milder weather and lower demand than

Annual oil and gas contracts activity rose 51 percent in disclosed contract value and nine percent in the number of contracts in 2021, GlobalData has revealed. According to a new GlobalData report, the disclosed contract value increased from $115.42 billion in 2020 to $174.21 billion in 2021 and the number of contracts rose from 5,750

It’s never been more expensive to fill up a car in the U.K. The price of gasoline on Tuesday rose to a record 164.98 pence per liter, according to the RAC, the country’s main motoring organization. Diesel hit 176.04 pence, also an all-time high. Since the start of March, both fuels have risen at their

Global energy-related carbon dioxide (CO2) emissions rose by 6% in 2021 to 36.3 billion tonnes, their highest ever level, as the world economy rebounded from the pandemic and relied heavily on coal to power that growth, according to new IEA analysis. The increase in global CO2 emissions of over 2 billion tonnes was the largest

U.S. oil demand rose in December to its highest level since before the coronavirus pandemic began, the U.S. Energy Information Administration (EIA) said on Monday, with product supplied nearing 21 million barrels per day (bpd). Overall fuel demand was up 10% year-on-year in December at 20.8 million bpd, its highest since August 2019. Product supplied

62 percent of oil and gas companies are currently either unprofitable or just breaking even. That’s according to the 2022 BDO Energy CFO Outlook Survey, which noted that 2020 represented the costliest year in Chapter 11 bankruptcy filings for oil and gas, surpassing $100 billion of debt from more than 100 companies. The survey found