All articles tagged with #oil and gas
Ovintiv announced a definitive agreement to sell its Anadarko assets in Oklahoma for $3 billion in cash, covering about 360,000 net acres. The deal is expected to close in early Q2 2026 with an effective date of January 1, 2026, and aims to de‑leverage the balance sheet while boosting returns to shareholders; Wells Fargo is advising, with further guidance to be provided in Ovintiv’s Q4 2025 results.
Turkey dispatched its deep-sea drilling vessel Cagri Bey to Somalia for Ankara’s first offshore exploration mission outside its maritime zone, with drilling set to begin at Curad-1 in April off the Somali coast. The ship, recently added to Turkey’s fleet, will be escorted by three Turkish warships and is expected to reach Somalia in about 45 days. Energy officials described the move as historic and said Turkey aims to raise oil output to about 500,000 barrels per day by 2028, with potential gains from discoveries and international production-sharing agreements abroad.
BP suspends share buybacks to reinvest in oil and gas opportunities, including a major Brazil discovery, after a $3.4 billion Q4 loss and renewables writedowns; interim CEO Carol Howle says the turnaround accelerates ahead of Meg O'Neill's April start, with a 4% dividend increase.
Buffett’s Berkshire Hathaway has built roughly $58 billion in oil-and-gas bets—Chevron (~$21B), Occidental (~$12B), plus Dominion Energy assets, Cove Point LNG, and OxyChem—reflecting a long-term conviction that fossil fuels stay essential; with oil rebounding, these positions are beginning to pay off, even as Buffett steps back from the CEO role.
Chevron and Quantum Capital Group are preparing a bid for $22 billion worth of Lukoil assets, indicating a significant move in the oil and gas industry.
BP is selling a 65% stake in its Castrol lubricants business to private equity firm Stonepeak for $6 billion as part of its strategy to reduce debt and focus on core oil and gas operations, with BP retaining a 35% stake and the deal expected to complete by the end of 2026.
BP has sold a 65% stake in its Castrol motor oil division to US investment firm Stonepeak for $6 billion, valuing Castrol at $10.1 billion, as part of BP's strategy to focus on core oil and gas businesses and reduce debt, while shifting away from green energy investments.
BP has appointed Meg O’Neill, CEO of Woodside Energy, as its new CEO, marking a shift back to focusing on core oil and gas businesses after a period of green energy emphasis. She will succeed Murray Auchincloss, who will step down, with interim CEO Carol Howle taking over until April. This leadership change is seen as a move to stabilize BP and refocus on its traditional strengths amid recent underperformance and strategic reset efforts.
BP appointed Meg O’Neill as its first female CEO, signaling a shift back to focusing on oil, gas, and LNG amid struggles and pressure from activist investors to divest from renewables and cut costs, aiming to revive the company's fortunes.
Oil and gas activity in the Dallas Fed district is slightly declining amid ongoing pessimism, with firms expecting modest changes in production and employment, and forecasting WTI prices around $62 per barrel in 2026, while capital spending remains uncertain and AI's impact on costs is viewed as limited.
SM Energy and Civitas Resources are merging in an all-stock deal to form a $13 billion oil and gas company focused on the Permian Basin, making it one of the top 10 independent US oil producers, with the deal expected to close in early 2026.
SM Energy and Civitas Resources are merging in a $12.8 billion all-stock deal to create a top-10 U.S. independent oil producer with a premier asset portfolio, significant synergies, and strong free cash flow projections, aiming to enhance shareholder value and sustainability.
TotalEnergies has lifted the force majeure on its $20 billion Mozambique LNG project, signaling progress in the project’s development amidst the global energy transition.
The article highlights two high-yield dividend stocks, Mach Natural Resources and Kinetik, both with strong analyst ratings and attractive dividend yields of up to 12.5% and 7.7%, respectively, suggesting they are promising investments for passive income and growth in the energy sector despite recent market volatility.
Oil and gas activity slightly declined in Q3 2025 amid rising costs, regulatory impacts, and market uncertainty, with firms expecting modest price increases and a cautious outlook on future exploration, especially outside the US. Theft and delayed investments are notable issues, while AI and sourcing from China are areas of strategic focus.