Reports related to this article:
Project(s): View 1 related project in PECWeb
Plant(s): View 1 related plant in PECWeb
Released October 09, 2023 | SUGAR LAND
en
News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CORPORATE
Pioneer Shares Jump on Talks of ExxonMobil Merger - Shares of Pioneer Natural Resources (NYSE:PXD) (Irving, Texas) climbed 11% on Friday on news that Exxon Mobil Corporation (NYSE:XOM) (Irving) was in advanced talks to buy the shale producer in a deal valued at a whopping $60 billion. A deal would be Exxon's biggest since its $81 billion acquisition of Mobil in 1998. It would make the company one of the leading producers in the Permian Basin. The offer implies a roughly 20% premium to Pioneer's Thursday close. A deal's value can change at any time in negotiations. (Reuters)
PRODUCTION
U.S. Drillers Cut Rigs for Third Week - U.S. energy firms last week cut the number of oil and natural gas rigs operating for a third week in a row for the first time since early September, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count, an early indicator of future output, fell by four to 619 in the week ending October 6, the lowest since February 2022. U.S. oil rigs fell five to 497 last week, their lowest since February 2022, while gas rigs rose two to 118. (Reuters)
PIPELINES
Trans Mountain to Start Oil Fill on Pipeline Next Quarter - Line fill on the Trans Mountain oil pipeline expansion will start in the first quarter of 2024 and take about six to seven weeks to complete, the Canadian government-owned corporation building the project said on Friday. Filling the pipeline with oil, a final step before deliveries start, will require about 4.5 million barrels, Trans Mountain Corp said. "We expect commercial operations to commence near the end of Q1 2024," a Trans Mountain spokesperson said in a statement. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related reports. (Reuters)
.....
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
CORPORATE
Pioneer Shares Jump on Talks of ExxonMobil Merger - Shares of Pioneer Natural Resources (NYSE:PXD) (Irving, Texas) climbed 11% on Friday on news that Exxon Mobil Corporation (NYSE:XOM) (Irving) was in advanced talks to buy the shale producer in a deal valued at a whopping $60 billion. A deal would be Exxon's biggest since its $81 billion acquisition of Mobil in 1998. It would make the company one of the leading producers in the Permian Basin. The offer implies a roughly 20% premium to Pioneer's Thursday close. A deal's value can change at any time in negotiations. (Reuters)
PRODUCTION
U.S. Drillers Cut Rigs for Third Week - U.S. energy firms last week cut the number of oil and natural gas rigs operating for a third week in a row for the first time since early September, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count, an early indicator of future output, fell by four to 619 in the week ending October 6, the lowest since February 2022. U.S. oil rigs fell five to 497 last week, their lowest since February 2022, while gas rigs rose two to 118. (Reuters)
PIPELINES
Trans Mountain to Start Oil Fill on Pipeline Next Quarter - Line fill on the Trans Mountain oil pipeline expansion will start in the first quarter of 2024 and take about six to seven weeks to complete, the Canadian government-owned corporation building the project said on Friday. Filling the pipeline with oil, a final step before deliveries start, will require about 4.5 million barrels, Trans Mountain Corp said. "We expect commercial operations to commence near the end of Q1 2024," a Trans Mountain spokesperson said in a statement. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related reports. (Reuters)
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
