Carnelian Jumps Into Bakken with Zavanna

Carnelian Backs Williston E&P Zavanna as Bakken M&A Heats Up; Vickery Energy Partners (former Tug Hill) Announces Partnership with Quantum Capital Group; EIA Report: U.S. net natural gas exports remain flat in the first half of 2024; EQT’s Rice: Three Mile Island Restart Not ‘Needle-Mover’ vs. Natgas.

Author

Rob Quigley
September 26, 2024

Good morning! Carnelian making moves to infuse capital into Bakken producer Zavanna. Word on the street is that Bakken M&A/A&D is heating up... Quantum backed Vickery Energy Partners (former Tug Hill execs) to rack it back in Appalachia. The EIA put out a report showing that America's gas exprts were flat in 1H 2024. I swear that LNG tidalwave is supposed to hit soon, right? Finally Toby Rice was in the news again reassuring investors that the restart of Three Mile Island nuclear reactor is not a concern for nat gas thesis. Let's drill down.

Daily Headlines

  • Dallas Fed: Low Natgas Prices Force Permian E&Ps to Curtail Output Hartenergy.

  • EQT’s Rice: Three Mile Island Restart Not ‘Needle-Mover’ vs. Natgas Hartenergy$$$

  • Bad Moon Rising - Diversified E&Ps Rebalancing Portfolios to Crude Oil as Natural Gas Revenues Sink RBNenergy

  • U.S. net natural gas exports remain flat in the first half of 2024 EIA

  • Chevron paid more to African states than U.S. in 2023 Rigzone.com

  • Trump proposes putting Alaska’s ANWR back in play Boereport.com

  • $9.5 trillion investor group aligns with 1.5C emission reduction target OilPrice.com

  • Storm Helene may spare Gulf of Mexico oil platforms OilandGas

  • Texas regulator issues over $2M in penalties to O&G operators WorldOil.com

  • Major LNG contractors locked in for ExxonMobil-led project UpstreamOnline.com

  • Gulf producers' oil price needs drive key market strategies OilPrice.com

Deal Flow

M&A/Investment

  • Carnelian Backs Williston E&P Zavanna as Bakken M&A Heats Up Hartenergy$$$

  • Vickery Energy Partners (former Tug Hill) Announces Partnership with Quantum Capital Group Globenews

  • Vivakor to acquire Endeavor Crude Transport in $120M deal HartEnergy.com

IPO/Direct Listing/Issuances/Block Trades

  • BKV Corporation Announces Pricing of Initial Public Offering at $18/share Businesswire.

  • EnerVest, Ltd. Increases Stake in Magnolia Oil & Gas Corp Finance.Yahoo.com

Bankruptcy/Restructuring/Distressed

  • Vertex Energy files for Chapter 11 bankruptcy, seeks protection from creditors BizJournals.com

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