First Things First:

Scott Sheffield, the former CEO of Pioneer Natural Resources claims that the FTC used him as a scapegoat in the ExxonMobil acquisition deal, raising questions about regulatory practices and their impact on major mergers. Wall Street Journal

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Daily Headlines

• Ex-Pioneer CEO Blames FTC in Exxon Deal - Ex-Pioneer CEO claims the FTC used him as a scapegoat in the Exxon deal, sparking controversy in the industry. Wall Street Journal

• Woodside Mulls Job Cuts Amid Project Start - Woodside Energy considers layoffs following the startup of its flagship oil project. Upstream Online

• EU Methane Emissions Law - The EU has approved a law imposing methane emissions limits on gas imports, which will significantly impact the industry. Reuters

• Canada’s Oil Resurgence Doomed Without Younger Workers - The Canadian oil industry faces a bleak future without attracting younger workers, as the current workforce ages. Oilprice.com

• Shell Plans Job Cuts in Offshore Wind Business - Shell announces job cuts in its offshore wind division as the company refocuses on oil and gas. World Oil

• TotalEnergies FIDs Two Developments Offshore Brazil - TotalEnergies has made final investment decisions on two offshore developments in Brazil, signaling growth in the region. Hart Energy

• Santos Signs Long-term LNG Supply Deal - Santos has secured a long-term LNG supply agreement, boosting its market position. Upstream Online

• Saudi Aramco Aims for Net Zero Without Cutting Oil Production - Saudi Aramco targets net-zero emissions while maintaining its oil production levels. Oilprice.com

• Oil Tankers Float for Weeks Offshore UK in Sign of Weak Demand - Oil tankers are idling offshore the UK due to weak demand, indicating market oversupply. Rigzone

• Hess Corporation Receives Stockholder Approval for Proposed Merger with Chevron - Hess Corporation’s merger with Chevron has been approved by stockholders. BOE Report

• U.S. Gulf Coast Imports of Straight-Run Fuel Oil at Record as Global Supply Jumps - The U.S. Gulf Coast sees record imports of straight-run fuel oil due to a global supply increase. BOE Report

• Obsidian Energy Announces 2024 Development Program Results Above Expectations - Obsidian Energy reports better-than-expected results from its 2024 development program. BOE Report

• Tourmaline Oil Corp Announces Issuance of Senior Unsecured Notes - Tourmaline Oil Corp has issued senior unsecured notes to support its operations. BOE Report

• ReconAfrica Eyes June 2024 Drilling Date for Highly Anticipated Exploration Well Onshore Namibia - ReconAfrica is set to begin drilling its highly anticipated exploration well in Namibia by June 2024. Oil and Gas 360

• Oil and Gas Investments in Norway Set for Record High in 2024 - Investments in Norway's oil and gas sector are projected to reach a record high in 2024. Oilprice.com

• Glenfarne Seeks Five More Years Until 2029 to Build Texas LNG Export Plant - Glenfarne is requesting an extension until 2029 to complete its Texas LNG export plant. BOE Report

• Mexico's Demand for Permian Pipe Gas Likely Here to Stay - Mexico’s demand for Permian pipeline gas is expected to remain strong. Hart Energy

• Forecast: Strong Hurricane Season Presents Risk for U.S. Oil & Natural Gas Industry - The forecast for a strong hurricane season poses significant risks for the U.S. oil and natural gas industry. CleanTechnica

• Oil Rebounds as Middle East Tensions Rise - Rising tensions in the Middle East have caused a rebound in oil prices. Rigzone

• Sidley Hires Partner in Houston Who Led Akin's U.S. Oil and Gas Practice - Sidley has hired a new partner in Houston, formerly leading Akin's U.S. oil and gas practice. Texas Lawyer
  

Deal Flow

M&A/Investment

• Hess Corporation Receives Stockholder Approval for Proposed Merger with Chevron - Hess Corporation’s merger with Chevron has been approved by stockholders. BOE Report

• Diamondback Energy Inc. Announces Sale of WTG Midstream - Diamondback Energy has sold its WTG Midstream unit. Oil and Gas 360

IPO/Direct Listing/Issuances/Block Trades

• Tourmaline Oil Corp Announces Issuance of Senior Unsecured Notes - Tourmaline Oil Corp has issued senior unsecured notes to support its operations. BOE Report

• Tidewater Midstream Announces $75 Million Convertible Debenture Underwritten Offering - Tidewater Midstream has announced a $75 million convertible debenture offering. BOE Report

Debt

• No relevant headlines.

SPAC

• No relevant headlines.

Bankruptcy/Restructuring/Distressed

• No relevant headlines.

Fundraising

• No relevant headlines.

Only the Finest, Refined Memes:

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Meme of the Day: #1