This week’s energy headlines spotlight emerging gas plays, rapid integration wins, midstream expansions, offshore momentum and capital market innovation. Here are five stories that stood out:
- Expand Energy enters Western Haynesville
We start in the Haynesville, where Expand Energy has made a bold move into the emerging Western portion of the play. The company secured 75,000 net acres and drilled a promising vertical appraisal well. It’s planning its first horizontal well this quarter to validate the resource. Expand also signed a 15-year gas supply agreement for the Lake Charles Methanol project, positioning itself as a key player in future hydrogen production.
- EQT integrates Olympus in record time
Meanwhile, EQT Corp. has fully integrated its $1.8 billion Olympus acquisition in just 34 days. It’s already drilling faster and cheaper on the new acreage. EQT also upsized its MVP Boost pipeline expansion to 600 MMcf/d, with strong utility demand backing 20-year contracts.
- Phillips 66 hits record Y-grade throughput
Phillips 66 completed the first phase of its Coastal Bend pipeline expansion, boosting Y-grade volumes to 225,000 bbl/d. The company also formed a joint venture with Kinder Morgan to build the Western Gateway pipeline, aiming to supply gasoline to California and Arizona.
- NOV CEO sees deepwater overtaking U.S. shale
On the oilfield services front, NOV’s CEO says deepwater and international land markets are poised to outpace U.S. shale. NOV’s offshore equipment backlog hit a record $4.56 billion, with strong demand from projects in Guyana, Brazil and the Black Sea.
- Citizen Energy launches Anadarko drilling fund
In capital markets, Citizen Energy Ventures launched a $20 million retail private placement fund targeting the Cherokee formation in the Anadarko Basin. It’s a strategic move to tap into long-life reserves and broaden its investor base.
Also this week: Momentum Midstream’s NG3 pipeline goes live, Amplify Energy exits East Texas, EnCap raises $2 billion for PennEnergy, Honeywell unveils new renewable fuels tech and Halliburton cuts capex and jobs.
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