US upstream news

The US Energy Information Administration reports that cash from operations in 1Q24 has decreased due to lower natural gas prices.

Empire Petroleum Corporation has fixed the close of business on 30 September 2024 as the record date for a proposed subscription rights offering.

The US will continue to supply natural gas to North-West Europe as the region continues its decarbonisation efforts.

Woodside Energy will contribute US$50 000 to the Bayou Community Foundation in support of relief efforts following Hurricane Francine.

US gas company Chesapeake Energy's acquisition of Southwestern Energy is now expected to close early in 4Q24, Reuters cited the company’s CEO Nick Dell'Osso as saying.

The storm developed into a full-blown hurricane at the end of last week, with Francine being the sixth named weather event this year.

Hurricane Francine made landfall last Wednesday on the Louisiana coast, taking some energy infrastructure offline along the US Gulf Coast from Louisiana through Alabama.

The transaction comprises US$461 million in cash and around 10.1 million OpCo units, with the equity portion valued at roughly US$456 million.

Diamondback Energy has completed the merger with Endeavor Energy Resources, creating a leading operator focused on the Permian Basin.

Transocean Ltd. has announced a 365 day contract for the Deepwater Atlas with bp in the US Gulf of Mexico.