Earthstone Energy Inc. is marketing an Eagle Ford asset as the E&P sheds non-core properties and prioritizes investment in the Permian Basin.
The Woodlands, Texas-based Earthstoneis offering to sell production and acreage in northeast Karnes County, Texas, and in southern Gonzales County, Texas, according to marketing materials.
Earthstone has retained Opportune Partners LLC as the exclusive financial adviser for the sales process.
Warburg Pincus Unloads Remaining Earthstone Energy Shares
Private equity firm Warburg Pincus LLC sold...
Private equity firm Warburg Pincus LLC sold its remaining 12.9 million shares of Earthstone Energy Inc.’s Class Acommon stock, increasing Earthstone’s stock float by approximately 25%, according to a press release this week.
Warburghas sold its entire position of approximately 26.4 million shares of Class A Common stockin less than one calendar year.
Earthstone Energyis an independent energy company focused on the acquisition, development, and operations of oil and natural gas assets in the Permian Basin.
US utilities likely to add 35.2 GW of capacity to power grid in second half of year - EIA
Power utilities are expected to add 35.2 gigawatts (GW) of electric...
Power utilities are expected to add 35.2 gigawatts (GW) of electric generating capacity to the U.S. power grid in the second half of the year,the U.S. Energy Information Administration (EIA) said on Tuesday.
Most of the planned capacity that is expected to be added in the second half of this year is solar (at 55%, or 19.3 GW), followed by battery storage (7.8 GW) and wind power (4.9 GW), the EIA said.
In the first half of 2023, developers added 16.8 GW of new utility-scale electric generating capacity to the grid, with solar power accounting for the largest share, the agency said.
Crude oil inventories in the United States unexpectedly rose unexpectedly this week by 4.067...
Crude oil inventories in the United States unexpectedly rose unexpectedly this week by 4.067 million barrels, the American Petroleum Institute (API) data showed on Tuesday—just one week after seeing the largest dip in inventories ever of 15.4 million barrels.
Analysts were expecting a draw of 233,000 barrels in U.S. crude-oil inventories. The total number of barrels of crude oil gained so far this year is nearly 24 million barrels, according to API data, although there is a net draw in crude inventories since April of 23 million barrels.
On Monday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 1 million barrels in the week ending August 4, with the SPR inventory still sitting at a near 40-year low of 347.80 million barrels.
Inventories at Cushing, Oklahoma, fell by another 112,000 barrels, after falling by 1.76 million barrels in the previous week.
Benchmark U.S. crude oil for September delivery...
Benchmark U.S. crude oil for September delivery rose 98 cents to $82.92 a barrel Tuesday. Brent crude for October delivery rose 83 cents to $86.17 a barrel.
Wholesale gasoline for September delivery rose 5 cents to $2.85 a gallon. September heating oil rose 7 cents to $3.09 a gallon. September natural gasrose 5 cents to $2.78 per 1,000 cubic feet.
