Civitas Enters Permian in $4.7B in Deals for Tap Rock, Hibernia
Civitas Resources has signed two definitive agreements to enter the Permian’s...
Civitas Resources has signed two definitive agreements to enter the Permian’s Midland and Delaware Basins through the acquisition of private E&Ps Hibernia Energy III LLC and Tap Rock Resources LLC for cash and stock totaling $4.7 billion, according to a June 20 press release.
Both companies are backed by NGP Energy Capital Management LLC and the transactions come as Permian Basin pure players scramble for inventory. Civitas’ production base is currently anchored by the Denver-Julesburg Basin (D-J Basin).
The Permian entry adds immediate scale for Civitas gaining 68,000 net acres, 90% of which are HBP, and proved reserves of approximately 335 MMboe as of year-end 2022.
U.S. housing starts surge as builders rev up single-family home construction
The numbers: Construction on new American homes...
The numbers:Construction on new American homes jumped 21.7% in May, as homebuilders ramp up building single-family homes to meet strong demand from buyers. Economists were expecting a slight decline of about 0.8%. The numbers are seasonally adjusted.
Housing starts rose to a 1.63 million annual pace last month from 1.34 million in April, the government said Tuesday. That’s how many houses would be built over an entire year if construction took place at the same rate in every month as it did in May.
This is the second month in a row that starts are up. The pace of construction was the highest since last April, when starts hit a 1.8 million pace.
BREAKING NEWS Hunter Biden will plead guilty to two misdemeanor tax charges and can avoid prosecution on a gun charge.
Under a deal with the Justice Department, the president’s son agreed to probation for filing his taxes...
Under a deal with the Justice Department, the president’s son agreed to probation for filing his taxes late, and he can avoid a charge that he lied about his drug use when he purchased a handgun.
KBR wins contract as part of new refinery planned for Cushing
Houston’s KBR was awarded a feasibility study contract as part of the Southern...
Houston’s KBR was awarded a feasibility study contract as part of the Southern Rock Energy Partners refineryto be built in Cushing.
Southern Rock’s proposed 250,000bpd refinery will be powered by solar, wind, waste heat, and geothermal energy and consume hydrogen and oxygen as a fuel source, making it a truly cutting-edge refinery with the goal of becoming net zero carbon, and the first truly green refinery in the United States.
Under the terms of the contract, KBR will provide expert consulting services, including a feasibility study in the formative stages of the project, and key technical information for the individual process units. KBR will focus on incorporating best practices into the design that will reduce emissions of greenhouse gases (GHG) with the potential for future reduction of GHG for a sustainable operation.
Nearly 300,000 Oklahomans still without power from weekend storms
From one end of the state to the other, tens of thousands of utility customers remain without electrical...
From one end of the state to the other, tens of thousands of utility customers remain without electrical power following the Saturday night tornadoes and straight winds of 80 to 90 miles per hour. One man in Oilton was killed when the winds toppled a large tree onto his home. Another person was killed in McCurtain County.
The combined outages from the state’s major utilities totaled 294,000 as of Monday noon. As of Monday morning, 165,000 customers in Tulsa were without electricity.
