Lea-ding the Charge

US Oil Dominance Hinges on Quiet Corner of New Mexico; Equinor plans to invest up to $6.7 billion per year offshore Norway until 2035; Exxon forecasts fossil fuels' dominance in the next 25 years; New Zealand moves to reverse oil and gas exploration ban.

Author

Rob Quigley
August 27, 2024

by VSO Petroleum Consultants. Oil and Gas industry news for those in the deal flow (Investors and A&D Professionals). Your daily source for the latest A&D/M&A news, industry news, and expert interviews.

First Things First:

US Oil Dominance Hinges on Quiet Corner of New Mexico.

New Mexico Oil Production Boosts U.S. Energy Dominance

New Mexico's surge in oil production is enhancing the United States' position as a leading global energy power. The state's increased output is contributing significantly to the country's overall oil supply, supporting its strategic dominance in the global energy market. This development underscores New Mexico's critical role in bolstering U.S. energy security and economic strength.

www.bloomberg.com/news/articles/2024-08-26/new-mexico-oil-production-supports-us-dominance?srnd=phx-markets

Equinor plans to invest up to $6.7 billion per year offshore Norway until 2035.(Reuters)

Exxon forecasts fossil fuels' dominance in the next 25 years.(CNBC)

New Zealand moves to reverse oil and gas exploration ban.(Reuters)

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Daily Headlines

  • US Oil Dominance Hinges on Quiet Corner of New Mexico.(Bloomberg $$$)

  • Franklin Mountain Pulls Trigger on Gunbarrel’s 18-well Delaware Project.(Hart Energy)

  • Exxon forecasts fossil fuels' dominance in the next 25 years.(CNBC)

  • Big Oil's carbon credit strategies face increasing scrutiny.(Oilprice)

  • New Zealand moves to reverse oil and gas exploration ban.(Reuters)

  • Qatar signs a 15-year LNG supply deal with Kuwait as domestic gas demand rises.(World Oil)

  • Libya may halt oil exports due to protests impacting supply.(Rigzone)

Deal Flow

M&A/Investment

  • Equinor plans to invest up to $6.7 billion per year offshore Norway until 2035.(Reuters)

  • Seplat Energy set to acquire ExxonMobil's Nigerian oil and gas assets for $1.3 billion.(World Oil)

  • Engelhart completes acquisition of global commodities trader Trailstone.(Hart Energy)

  • Petrobras seeks shale gas deals in Argentina's Vaca Muerta to boost production.(World Oil)

Fundraising

  • AEC seeks private investment for African energy and infrastructure projects during a visit to China.(Energy Chamber)

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