A lot is happening in the Oil & Gas industry in the month of September. Continue reading our oil and gas news roundup to learn more about what’s happening in the industry this month.
EnerCom Dallas, which took place August 13-16, 2023 in Uptown Dallas, is an energy-focused investment conference that provides institutional investors the opportunity to hear investor presentations from the top independent producers, midstream and oilfield service companies and meet their management teams to discuss their plans to drive development, fund operations and return value to shareholders in 2023.
Since 1954, the EnerCom team has been unified by our values, our commitment to building shareholder value, and our culture, which empowers every employee to make decisions and achieve the company’s goals. Click the link here to see what you missed at this year’s conference!
Berry Corporation completes acquisition of Macpherson Energy Corporation
Berry Corporation announced that it has successfully completed the acquisition of Macpherson Energy Corporation, a privately held Kern County, California operator. The company has also updated its guidance for the full-year in connection with the acquisition.
Consideration for the Macpherson acquisition, primarily funded through a reduction in 2023 capital expenditures, comprised an all-cash purchase price of $70 million, $50 million of which was paid at closing and the remainder of which will be paid in July 2024.
For the full article on this acquisition click here.
North America Breaks Rig Loss Streak
North America has broken a string of consecutive weekly rig losses, according to Baker Hughes’ latest rotary rig count, which was released on September 15th.
The region added 17 rigs week on week, with nine of these coming from the U.S. and eight from Canada, taking North America’s total rig count up to 831. Of the total North America rig count figure, 641 rigs hail from the U.S. and 190 come from Canada.
Baker Hughes, which has issued the rotary rig counts to the petroleum industry since 1944, describes the figures as an important business barometer for the drilling industry and its suppliers. The company obtains its working rig location information in part from Enverus, which produces daily rig counts using GPS tracking units.
For the full report click here.
Thousands Urge Biden to Stop New Oil and Gas Projects
Tens of thousands of people rallied in New York, urging U.S. President Joe Biden to end approvals for new oil and gas projects as world leaders are heading to New York to take part in a climate summit. Leaders are gathering in New York for the UN General Assembly and a separate Climate Ambition Summit at the UN headquarters.
The White House has said that President Biden does not plan to attend the Climate Ambition Summit.
The Biden Administration has recently canceled seven oil and gas leases for the Alaska Arctic National Wildlife Refuge. The decision overturned ones made by the Trump Administration, which awarded the leases. But the Biden administration approved a highly controversial project in Alaska in March this year, sparking the outrage of environmentalists after pledging to clip the wings of the U.S. oil and gas industry.
Check out oilandgas360.com for more information on this topic.
Reach Out to Tiger General
We hope you found our September oil and gas news roundup interesting. If you need a new piece of equipment, fill out the Tiger General Truck Inquiry Form today!