Delaware Basin E&P Battalion Oil Acquired for $450 Million
Public Permian player Battalion Oil...
Public Permian player Battalion Oil Corp. is being acquired by a private E&P after continuing to explore strategic alternatives.
Fury Resources Inc. will acquire all of Battalion’s outstanding common shares for $9.80 per share in cash, representing a total transaction value of approximately $450 million, the companies announced on Dec. 15.
A climate activist has been jailed for six months after pleading guilty to taking part...
A climate activist has been jailed for six months after pleading guilty to taking part in a peaceful slow march protest on a London road.
The sentence handed to Stephen Gingell, 57, is thought to be the first jailing under a new law that critics say makes anyone walking in a road liable for prosecution for “interference with key national infrastructure”.
Section 7 of the Public Order Act 2023 bans any act that prevents newspaper printing presses, power plants, oil and gas extraction or distribution sites, harbors, airports, railways or roads “from being used or operated to any extent”, with a potential penalty of 12 months in jail.
Carbon Capture Storage Projects at Gas & Coal Plants Get $890MM Boost
The Energy Department has announced up to $890...
The Energy Department has announced up to $890 million in federal funding to be split between several carbon capture and storage projects at natural gas and coal plants in North Dakota, Texas, and California. The projects collectively aim to block the release of about 8.54 million short tons of carbon dioxide per year.
Howard Midstream Expands Gas, Renewable Diesel Footprint
Howard Midstream Energy Partners has finalized...
Howard Midstream Energy Partners has finalized $800 million worth of expansion projects that boost natural gas pipeline, processing, and storage capacities available to operators in the Delaware Basin and Eagle Ford Shale. HEP has also expanded its midstream terminal in Port Arthur, Texas, to accommodate renewable diesel feedstock and finished product from a new 470-million-gallon-per-year renewable diesel plant at Valero Energy's 395,000-bpd Port Arthur refinery.
Etsy. The online marketplace where you can find knit balaclavas and hand-painted wooden signs emblazoned with “wine o’clock” said it was laying off 11% of its staff on Wednesday. CEO Josh Silverman blamed the macroeconomic environment and previous overhiring despite gross merchandise sales remaining flat since 2021.
Hasbro. The toymaker laid off 1,100 workers (roughly 20% of its staff) on Monday after a period of less-than-stellar toy sales following a pandemic surge. This most recent layoff is in addition to the 800 jobs it cut earlier this year.
Spotify. After the hype of Sound Towns died down, the streaming giant announced its third round of 2023 layoffs earlier this month. This time, the company cut 1,500 jobs, which equates to about 17% of staff.
The House passed a huge bipartisan defense bill. The $886 billion package will give service members a 5.2% pay bump and includes investments to boost competition with China and Russia, but does not contain funding for aid to Israel and Ukraine, which is part of a separate $105 billion package. Still, this defense bill provides $28 billion (3%) more than last year’s version. The vote, which passed 310–118, defeated the efforts of far-right GOP lawmakers, who had tried unsuccessfully to shoehorn military restrictions to abortion access, transgender care, and DEI policies.
