Southwestern Energy

CapturePoint Secures Dedication of CO2 for CENLA Hub From Southwestern Energy Company

Retrieved on: 
Wednesday, November 15, 2023

CapturePoint LLC (together with its affiliates, “CapturePoint”) announced today that a subsidiary of Southwestern Energy Company (“Southwestern”) (NYSE: SWN) has agreed with its midstream provider, Energy Transfer LP (NYSE: ET), to dedicate CO2 from its Haynesville natural gas processing to sequestration deep underground in CapturePoint’s Central Louisiana Regional Carbon Storage Hub (“CENLA Hub”).

Key Points: 
  • CapturePoint LLC (together with its affiliates, “CapturePoint”) announced today that a subsidiary of Southwestern Energy Company (“Southwestern”) (NYSE: SWN) has agreed with its midstream provider, Energy Transfer LP (NYSE: ET), to dedicate CO2 from its Haynesville natural gas processing to sequestration deep underground in CapturePoint’s Central Louisiana Regional Carbon Storage Hub (“CENLA Hub”).
  • The CENLA Hub, under development by CapturePoint affiliate CapturePoint Solutions LLC, will permanently store captured CO2 in suitable geologic formations in Rapides and Vernon Parishes.
  • The agreement announced today is another significant milestone for the future success of the CENLA Hub.
  • “Southwestern Energy is committed to meeting growing global demand for reliable, lower-carbon energy,” said Bill Way, Southwestern Energy President and Chief Executive Officer.

WhiteHawk Energy Announces $54 Million Acquisition of Core Marcellus Shale Natural Gas Mineral and Royalty Assets

Retrieved on: 
Wednesday, November 15, 2023

WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today the acquisition of additional Marcellus Shale natural gas mineral and royalty assets for a total purchase price of $54.0 million.

Key Points: 
  • WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today the acquisition of additional Marcellus Shale natural gas mineral and royalty assets for a total purchase price of $54.0 million.
  • The acquisition increases WhiteHawk’s mineral and royalty ownership in its existing 475,000 gross acre position by 100% (collective with WhiteHawk’s existing position, the “Marcellus Assets”).
  • Earlier in 2023, WhiteHawk acquired natural gas mineral and royalty assets in the Haynesville Shale, covering approximately 375,000 gross unit acres.
  • The Company’s Haynesville Shale assets are actively being developed by Southwestern Energy, Chesapeake Energy, Aethon Energy Management and Comstock Resources.

Oil And Gas CAPEX Expected to Reach $980 Billion By 2028 Along with Significant Growth Forecasted

Retrieved on: 
Thursday, September 21, 2023

PALM BEACH, Fla., Sept. 21, 2023 /PRNewswire/ -- The oil and gas CAPEX market is expected to witness significant growth owing to factors, including strong profitability due to a trend toward reducing project costs and optimizing portfolios, which has led to divesting of low-margin fields, as well as a greater emphasis on investments in higher-margin growth opportunities.  Capital expenditure (CAPEX) refers to the funds utilized by a company/organization to acquire, upgrade, and maintain physical assets, such as property, plants, buildings, technology, or equipment. It is often used to undertake new projects or investments by a company. The global oil and gas CAPEX market considers the entire capital expenditure of international oil and gas operators annually.  According to a new market research report from Mordor Intelligence titled "Oil and Gas CAPEX Market Report (2023-2028)," the market is estimated at USD 797.58 billion in 2023. It is expected to register a CAGR of 4.27% during the forecast period.  The report said: "Investment in the upstream oil and gas industry grew after the rise in oil and gas demand amid the opening of the COVID-19 lockdowns. An expansion in demand recovered crude oil prices in 2022. In 2020, crude oil prices were about USD 41.96 per barrel, while in 2022, the prices reached more than USD 110 per barrel, resulting in a surge in investment in the oil & gas industry.  The CAPEX market is expected to witness noteworthy growth owing to factors such as strong profitability due to a trend toward reducing project costs and optimizing portfolios, leading to divesting of low-margin fields, as well as a greater emphasis on investments in higher-margin growth opportunities."  Active Mining Companies from around the markets with current developments this week include:  Trio Petroleum Corp. (NYSE: TPET), Devon Energy Corp. (NYSE: DVN), Occidental Petroleum Corporation (NYSE: OXY), Marathon Oil Corporation (NYSE: MRO), Southwestern Energy Company (NYSE: SWN).

Key Points: 
  • The global oil and gas CAPEX market considers the entire capital expenditure of international oil and gas operators annually.
  • The report said: "Investment in the upstream oil and gas industry grew after the rise in oil and gas demand amid the opening of the COVID-19 lockdowns.
  • The United States has always been at the forefront in the past and is also expected to dominate the region's oil and gas CAPEX market in the forecast period.
  • The country oil and gas projects accounts for approximately 70% of the total investments in North America during the forecast period.

Oil And Gas CAPEX Expected to Reach $980 Billion By 2028 Along with Significant Growth Forecasted

Retrieved on: 
Thursday, September 21, 2023

PALM BEACH, Fla., Sept. 21, 2023 /PRNewswire/ -- The oil and gas CAPEX market is expected to witness significant growth owing to factors, including strong profitability due to a trend toward reducing project costs and optimizing portfolios, which has led to divesting of low-margin fields, as well as a greater emphasis on investments in higher-margin growth opportunities.  Capital expenditure (CAPEX) refers to the funds utilized by a company/organization to acquire, upgrade, and maintain physical assets, such as property, plants, buildings, technology, or equipment. It is often used to undertake new projects or investments by a company. The global oil and gas CAPEX market considers the entire capital expenditure of international oil and gas operators annually.  According to a new market research report from Mordor Intelligence titled "Oil and Gas CAPEX Market Report (2023-2028)," the market is estimated at USD 797.58 billion in 2023. It is expected to register a CAGR of 4.27% during the forecast period.  The report said: "Investment in the upstream oil and gas industry grew after the rise in oil and gas demand amid the opening of the COVID-19 lockdowns. An expansion in demand recovered crude oil prices in 2022. In 2020, crude oil prices were about USD 41.96 per barrel, while in 2022, the prices reached more than USD 110 per barrel, resulting in a surge in investment in the oil & gas industry.  The CAPEX market is expected to witness noteworthy growth owing to factors such as strong profitability due to a trend toward reducing project costs and optimizing portfolios, leading to divesting of low-margin fields, as well as a greater emphasis on investments in higher-margin growth opportunities."  Active Mining Companies from around the markets with current developments this week include:  Trio Petroleum Corp. (NYSE: TPET), Devon Energy Corp. (NYSE: DVN), Occidental Petroleum Corporation (NYSE: OXY), Marathon Oil Corporation (NYSE: MRO), Southwestern Energy Company (NYSE: SWN).

Key Points: 
  • The global oil and gas CAPEX market considers the entire capital expenditure of international oil and gas operators annually.
  • The report said: "Investment in the upstream oil and gas industry grew after the rise in oil and gas demand amid the opening of the COVID-19 lockdowns.
  • The United States has always been at the forefront in the past and is also expected to dominate the region's oil and gas CAPEX market in the forecast period.
  • The country oil and gas projects accounts for approximately 70% of the total investments in North America during the forecast period.

ALLY Energy Names Lifetime Achievement Winners & GRIT Awards and Best Energy Workplace Finalists

Retrieved on: 
Thursday, September 14, 2023

HOUSTON, Sept. 14, 2023 /PRNewswire-PRWeb/ -- The 7th annual GRIT Awards and Best Energy Workplaces from ALLY Energy honors people and organizations making an impact on energy, sustainability, and the climate. The awards are regarded by many as the most prestigious, significant recognition in the energy industry worldwide. Nominations are open to the public. The shortlisted finalists include 60 leaders, 32 teams, and 14 companies with representation across the globe in oil and gas, power and utilities, wind, solar, hydrogen, nuclear, climate tech startups, and academia.

Key Points: 
  • The awards are regarded by many as the most prestigious, significant recognition in the energy industry worldwide.
  • This is the time to celebrate so many crucial achievements that may otherwise go overlooked in the energy sector and in broader society.
  • This year's sponsors include ChampionX, Ovintiv, Baker Hughes, NES Fircroft, TGS Energy, Southwestern Energy, Wood, DLA Piper, Energy Ogre, and Steel Blue USA.
  • ALLY Energy is a global energy workforce company that accelerates careers and skills for an equitable energy transition.

Southwestern Energy Releases Tenth Annual Corporate Responsibility Report

Retrieved on: 
Thursday, September 7, 2023

Southwestern Energy Company (NYSE: SWN) today released its 10th annual Corporate Responsibility report.

Key Points: 
  • Southwestern Energy Company (NYSE: SWN) today released its 10th annual Corporate Responsibility report.
  • The comprehensive report, titled “ONE.
  • “As One Team with one focus, Southwestern Energy is continuously striving for one bright future as we create economic value and achieve our sustainability goals to benefit all SWN stakeholders,” said Bill Way, Southwestern Energy President and Chief Executive Officer.
  • “We’re excited to share our tenth annual Corporate Responsibility report, highlighting our single-minded focus on sustainable value creation.

WhiteHawk Energy Announces $100 Million Acquisition Finance Facility With Top Tier Institution to Accelerate Its Acqusition of Core Natural Gas Mineral and Royalty Assets

Retrieved on: 
Monday, August 7, 2023

WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today entrance into a $100.0 million acquisition finance facility (the "Acquisition Facility") with a top tier institution (“Institution”).

Key Points: 
  • WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today entrance into a $100.0 million acquisition finance facility (the "Acquisition Facility") with a top tier institution (“Institution”).
  • The Acquisition Facility will mature on December 31, 2025 and contains certain co-investment rights for the Institution.
  • “This is an exciting day for WhiteHawk, as we take our next big step towards being the leading natural gas mineral and royalty company in the United States.
  • There is a significant opportunity to continue to acquire natural gas mineral and royalty assets delivering consistent and growing cash flow in core basins developed by top-tier operators.

Southwestern Energy Announces First Quarter 2023 Results

Retrieved on: 
Thursday, April 27, 2023

For the quarter ended March 31, 2023, Southwestern Energy recorded net income of $1.9 billion, or $1.76 per diluted share, including a gain on mark-to-market of unsettled derivatives.

Key Points: 
  • For the quarter ended March 31, 2023, Southwestern Energy recorded net income of $1.9 billion, or $1.76 per diluted share, including a gain on mark-to-market of unsettled derivatives.
  • As of March 31, 2023, Southwestern Energy had total debt of $3.95 billion and net debt to adjusted EBITDA (non-GAAP) of 1.2x.
  • In January 2023, S&P updated Southwestern Energy to positive outlook, joining Fitch, which updated the Company to positive outlook in August 2022.
  • As indicated in the table below, first quarter 2023 weighted average realized price was $3.48 per Mcfe, excluding the impact of derivatives and net of $0.27 per Mcfe of transportation expenses.

Verde Bio Holdings, Inc. Announces Acquisition of Haynesville Shale Mineral and Royalty Interest

Retrieved on: 
Tuesday, February 21, 2023

FRISCO, TX, Feb. 21, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Verde Bio Holdings, Inc. (OTCQB: VBHI), a growing oil and gas Company, today announced that it has entered into an agreement to acquire revenue producing mineral and royalty interests in the prolific Haynesville Shale of Northern Louisiana, held by a private seller for a purchase price of $425,000 in cash. The Company continues to build a diversified, revenue producing portfolio of high-quality assets. Today’s announcement marks the nineteenth acquisition by Verde to date.

Key Points: 
  • Today’s announcement marks the nineteenth acquisition by Verde to date.
  • This interest acquired by Verde currently produces approximately $10,000 per month in revenue and Verde is entitled to the cash flow from production attributable to the acquisition beginning on or after February 1, 2023.
  • The interest being acquired covers approximately 1,200 gross acres in Desoto Parish, LA and is operated by E&P leader, Southwestern Energy.
  • Scott Cox, CEO of Verde, said, “We are excited about the interests being acquired through this acquisition especially as deals like this are difficult to find at fair prices.

WhiteHawk Energy Announces Agreement to Acquire Core Haynesville Shale Natural Gas Mineral and Royalty Assets for up to $105 Million

Retrieved on: 
Tuesday, January 17, 2023

WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today a definitive agreement (“Haynesville Agreement”) to acquire up to $105 million of natural gas mineral and royalty assets primarily located in northwestern Louisiana (“Haynesville Royalties”).

Key Points: 
  • WhiteHawk Energy, LLC (“WhiteHawk” or the “Company”) announced today a definitive agreement (“Haynesville Agreement”) to acquire up to $105 million of natural gas mineral and royalty assets primarily located in northwestern Louisiana (“Haynesville Royalties”).
  • The Haynesville Royalties are being actively developed by best-in-class natural gas operators Southwestern Energy, Chesapeake Energy, Aethon Energy Management and Comstock Resources.
  • WhiteHawk management expects the Haynesville Royalties to be a strong compliment to the Company’s existing high-quality natural gas mineral and royalty assets.
  • During 2022, WhiteHawk acquired natural gas mineral and royalty assets covering 475,000 gross unit acres in the core of the Marcellus Shale focused in Greene and Washington Counties, Pennsylvania.