Last week, Mach closed Jan. 31 on its $29.8 million purchase...
Last week, Mach closed Jan. 31 on its $29.8 million purchase of oil and gas assets—the so-called Flycatcher assets—located near the Ardmore Basins assets Mach bought last year. The effective date is Oct. 1, 2024.
The Flycatcher acquisition includes total proved reserves of 9.6 MMBoe with total PV-10 of $67.3 million as of Dec. 31 based on strip pricing as of Jan. 15; based on Securities and Exchange Commission pricing, the total proved reserves were recorded at 9.6 MMBoe as of Dec. 31 with total PV-10 of $63.6 million.
The total proved reserves mix is 60% liquids and 40% natural gas. The acquisition boosted Mach’s total leasehold and mineral acreage to 1,046,662 net acres.
Energy Secretary Chris Wright has directed the Energy Department to abandon...
Energy Secretary Chris Wright has directed the Energy Department to abandon net-zero goals in favor of maximizing US energy production. Consistent with President Donald Trump's executive actions, the order outlines plans to fast-track permits, fortify the power grid, increase nuclear capacity and replenish strategic oil reserves.
Colombia's president presses Ecopetrol to exit US fracking
Colombian President Gustavo Petro has directed state oil company Ecopetrol...
Colombian President Gustavo Petro has directed state oil company Ecopetrol to sell its US fracking operations, including its newly extended joint venture with Occidental Petroleum in the Permian Basin, and reinvest the money in clean energy. The decision disrupts Ecopetrol and Oxy's plan to invest more than $880 million in 91 new oil Permian wells.
Intensity Infrastructure Partners is holding an open season until March...
Intensity Infrastructure Partners is holding an open season until March 7 to gauge customer interest in a 126-mile, 1.5 Bcf/d natural gas pipeline in the Bakken Shale, from western North Dakota to southern McLean County. As the region's associated gas volumes surge, analysts warn that insufficient takeaway capacity could bottleneck oil production growth.
Industrial giant Honeywell splits in three. The US conglomerate will separate its aerospace...
Industrial giant Honeywell splits in three. The US conglomerate will separate its aerospace division from its automation group and spin off its advanced materials business in a move similar to the one GE announced in 2021. It’s a win for activist investor Elliott Investment Management, which called for a breakup last year in light of Honeywell’s dragging share price. GE’s tripartite separation has been deemed a success, with its three separate businesses now worth about four times more together than GE was in 2022, the Wall Street Journal reported. Honeywell’s split leaves the US with precious few industrial conglomerates left.
AMC Theatres hiked the monthly fee for Stubs A-List by a few bucks, but will allow subscribers to see an extra movie each week.
Roblox stock fell after the company reported disappointing bookings, adding more unease to the gaming industry following EA’s recent forecast trim.
YouTube is now advertising on TikTok, hoping to convince the app’s creators to defect to the Google-owned platform while TikTok’s US status is in limbo.
All Quiksilver, Billabong, and Volcom stores will close in the US after their operator filed for bankruptcy, in what would have been a devastating blow to your 7th-grade friend group.
