Upstream news

The US Senate on Monday 3 February confirmed Chris Wright, a fracking executive, to be President Donald Trump's energy secretary.

Baker Hughes, an energy technology company has announced three new electrification technologies that will provide enhanced reliability, increased efficiency and reduced emissions for onshore and offshore operations.

According to Rystad Energy, upstream merger and acquisition (M&A) activity is expected to slow significantly in 2025 following two years of record-high transactions driven by US shale mergers.

Crescent Energy Company has announced the closing of its acquisition of Central Eagle Ford assets from Ridgemar Energy for upfront consideration of US$905 million, consisting of US$830 million in cash and 5 454 546 shares of Class A common stock.

The contract scope includes drilling services for development and exploration wells over a three-year period.

Flow remediation specialist, Pipetech, has announced the launch of its Downhole Scale Remediation (DSR) technology. Supported by the Net Zero Technology Centre’s (NZTC) emissions reduction programme, this technology aims to redefine wellbore cleaning solutions while advancing sustainable practices.

The asset visualisation software has been extended to 20 additional bp facilities.

Diversified Energy has announced that it has entered into a definitive agreement to acquire Maverick Natural Resources, a portfolio company of EIG, for total consideration of approximately US$1275 million.

This strategic bolt-on acquisition expands CNX's existing stacked Marcellus and Utica undeveloped leasehold in the CPA region and provides an existing infrastructure footprint that can be leveraged for future development.

The agreement will support Kuva in refining and demonstrating its remote emissions investigation system across 175 oil and gas sites in the US.