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Released June 16, 2023 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
CORPORATE
Patterson-UTI, NexTier Merge to Form $5.4 Billion Oilfield Services Firm - Patterson-UTI Energy Incorporated (NASDAQ:PTEN) (Houston, Texas) and NexTier Oilfield Solutions (NYSE:NEX) on Thursday agreed to merge in an all-stock deal to create a $5.4 billion oilfield services firm. The merger brings together Patterson-UTI's sizeable land drilling business and NexTier's well completion operations. The deal is expected to close in the fourth quarter of this year. (Reuters)
POWER
British Columbia Calls for New Electrification Projects - British Columbia will issue its first call in 15 years for large new electricity-generating projects. Government-owned BC Hydro (Vancouver, British Columbia) said on Thursday it will formally launch a competitive process for utility-scale projects next spring and aim to have new sources of electricity by 2028. It is seeking renewable projects only, such as wind and solar. (Reuters)
LNG
Equinor Restarts Hammerfest LNG Plant - Equinor (NYSE:EQNR) (Stavanger, Norway) restarted its closed Hammerfest liquefied natural gas (LNG) plant in Norway earlier this week, following a two-week outage. "The loading of tankers will start once we have sufficient volume in the tanks," a spokesperson for the company said. Equinor stopped production at Hammerfest LNG on May 31 due to a leak in the cooling circuit. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (Reuters)
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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
Patterson-UTI, NexTier Merge to Form $5.4 Billion Oilfield Services Firm - Patterson-UTI Energy Incorporated (NASDAQ:PTEN) (Houston, Texas) and NexTier Oilfield Solutions (NYSE:NEX) on Thursday agreed to merge in an all-stock deal to create a $5.4 billion oilfield services firm. The merger brings together Patterson-UTI's sizeable land drilling business and NexTier's well completion operations. The deal is expected to close in the fourth quarter of this year. (Reuters)
POWER
British Columbia Calls for New Electrification Projects - British Columbia will issue its first call in 15 years for large new electricity-generating projects. Government-owned BC Hydro (Vancouver, British Columbia) said on Thursday it will formally launch a competitive process for utility-scale projects next spring and aim to have new sources of electricity by 2028. It is seeking renewable projects only, such as wind and solar. (Reuters)
LNG
Equinor Restarts Hammerfest LNG Plant - Equinor (NYSE:EQNR) (Stavanger, Norway) restarted its closed Hammerfest liquefied natural gas (LNG) plant in Norway earlier this week, following a two-week outage. "The loading of tankers will start once we have sufficient volume in the tanks," a spokesperson for the company said. Equinor stopped production at Hammerfest LNG on May 31 due to a leak in the cooling circuit. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (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).
