Latest news with #oilandgas
Yahoo
a day ago
- Business
- Yahoo
Mach to acquire Permian and San Juan Basin assets for $1.3bn
Mach Natural Resources has entered definitive agreements, valued at approximately $1.3bn, to acquire oil and gas assets from Sabinal Energy and entities managed by IKAV Energy. The combined transactions are poised to nearly double Mach's production and diversify its asset base across three prolific basins. The acquisition of Sabinal's assets for $500m includes around 130,000 net acres. The first-quarter 2025 production average of the assets was 11 million barrels of oil equivalent per day (mboepd), including 98% liquids and 2% natural gas. Mach plans to fund this transaction with $300m in equity and the remainder through cash and credit facility borrowings. Furthermore, Mach's purchase of IKAV San Juan's assets for $787m will add approximately 570,000 net acres to its portfolio. The production from these assets was around 60mboepd in the first quarter of 2025, including 94% natural gas and 6% liquids. Funding for this acquisition will involve $462m in equity and the balance through cash and credit facilities. Post-acquisition, Mach's operations will span the Mid-Continent, Permian, and San Juan basins, with a combined production capacity of approximately 152mboepd from its current 81mboepd, and a total acreage of 2.8 million net acres. The transactions are expected to close in the third quarter of 2025, subject to customary terms and conditions. Mach CEO Tom L Ward said: 'These acquisitions are transformative for Mach. They not only strengthen our asset base but also advance the core pillars on which we've built the company since our founding. 'With this step, we significantly enhance our scale and gain strategic multi-basin positioning, all while maintaining a resilient balance sheet. Most importantly, the transactions are expected to be immediately accretive to our cash available for distribution, underscoring our commitment to delivering long-term value to our unitholders.' Moelis & Company and Truist Securities are providing financing advisory services for Mach on the Sabinal deal, with Kirkland & Ellis providing legal advice. Moelis & Company and Vinson & Elkins are advising on the IKAV San Juan transaction. Wells Fargo and Haynes and Boone, LLP are advising IKAV Energy while RBC Capital Markets and Vinson & Elkins are advising Sabinal Energy. "Mach to acquire Permian and San Juan Basin assets for $1.3bn" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Globe and Mail
a day ago
- Business
- Globe and Mail
Wilton Resources Inc. Announces Closing of Private Placement Financing
Calgary, Alberta--(Newsfile Corp. - July 11, 2025) - Wilton Resources Inc. (TSXV: WIL) (the "Corporation") is pleased to announce that it closed its a non-brokered private placement of units of the Corporation (" Units") at a purchase price of $0.55 per Unit for total aggregate gross proceeds of $412,500 (the " Offering"). The principal use of the proceeds of the Offering will be for general corporate purposes and as a reserve to pursue the potential acquisition of an international oil and gas property. Each Unit is comprised of one common share in the capital of the Corporation (" Common Share") and one Common Share purchase warrant (" Warrant"). Each Warrant entitles the holder to purchase one Common Share for a period of 36 months from the date of issuance at an exercise price of $0.62. No commission, finder's fee or similar payment (whether in the form of cash, securities or an interest in assets) will be paid by the Corporation in connection with the Offering. The Common Shares and Warrants issued in connection with the Offering and the Common Shares underlying the Warrants will be subject to a statutory hold period of four months plus one day from the date of completion of the Offering, being November 12, 2025 , in accordance with applicable securities legislation. The Offering was approved by the Corporation's board of directors by means of a unanimous resolution. For more information concerning the Corporation, please refer to the Corporation's profile on the SEDAR+ website at Forward-Looking Information Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "intend", "may", "will", "expect", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information with respect to the principal uses of the proceeds of the Offering. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The material facts and assumptions include the intended use of proceeds remaining in the best interests of the Corporation. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward- looking information. The foregoing statements expressly qualify any forward-looking information contained herein. For more information, please contact: Wilton Resources Inc. Richard Anderson Chief Executive Officer and President (403) 619-6609 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of the content of this release. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws. THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.
Yahoo
2 days ago
- Business
- Yahoo
Aker Solutions wins contract for Fram Sør tie-in project
Aker Solutions has secured a notable tieback contract from Equinor for the preparation of the Troll C platform's topside, which will process production from the Fram Sør tie-in project in the Norwegian North Sea. Situated 20km north of Troll C, the development will use the platform's existing processing capacity. The tieback to Troll C necessitates modifications to the platform's topside, encompassing engineering, procurement, construction, installation, and commissioning (EPCIC), as well as services for the new subsea templates. Aker Solutions, which has already completed the front-end engineering and design (FEED) from its Bergen office, will manage project management, detailed engineering, procurement, and shop engineering from both Bergen and Mumbai. Fabrication will occur at the Egersund yard. The project is set to begin immediately, with production anticipated to start by the end of 2029. The contract will be documented as an addition to the order book in the Life Cycle division for Q3 2025. The Fram Sør project, which combines several discoveries, is expected to export oil and gas via Troll C, with recoverable volumes estimated at 116 million barrels of oil equivalent, predominantly comprising oil (75%) and gas (25%). The estimated carbon dioxide emissions for the Fram Sør project are approximately 0.5kg per barrel of oil equivalent, which is significantly lower than the Norwegian Continental Shelf's average of 8kg. This figure is also well below the global industry average of approximately 16kg per barrel of oil equivalent, as reported by the International Association of Oil & Gas Producers (IOGP) in 2023. In related news, a joint venture (JV) between Aker Solutions and Brunei's PTAS has been granted a two-year contract extension to deliver offshore maintenance and modification services to Brunei Shell Petroleum (BSP). The PTAS Aker Solutions JV will provide offshore restoration maintenance construction (ORMC) services. This extension bolsters the JV's presence in the South China Sea, continuing to oversee maintenance and upgrades from its office in Kuala Belait, Brunei Darussalam. "Aker Solutions wins contract for Fram Sør tie-in project" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
2 days ago
- Business
- Yahoo
Rising Phoenix Capital Expands Midland Basin Position with Strategic Maroon Bells Fund Acquisition
DALLAS, July 11, 2025--(BUSINESS WIRE)--Rising Phoenix Capital, a boutique investment firm specializing in oil and gas mineral royalty acquisitions, today announced a new strategic acquisition in the Midland Basin. The mineral rights, located in Ector and Midland Counties, TX, are operated by ConocoPhillips and were acquired through the firm's Maroon Bells Fund, an income-focused mineral portfolio that has delivered consistent cash distributions. The acquisition includes both producing wells and near-term permitted development, increasing Rising Phoenix's footprint in the country's most prolific basin and aligning with its mission to deliver monthly income and long-term capital preservation for accredited investors. "We underwrite for predictability, not hype," said Jace Graham, CEO and Founder of Rising Phoenix Capital. "Our focus remains on acquiring top-tier mineral assets in core basins, leased to highly capable operators. This deal strengthens our position in the heart of the Midland and supports our strategy of dependable cash flow and upside potential." This marks the firm's fourth Midland Basin acquisition in 2025, building on a disciplined acquisition strategy that emphasizes direct sourcing and in-house underwriting, without the use of leverage. For accredited investors seeking exposure to energy income, Rising Phoenix Capital is currently accepting subscriptions into its newest fund, La Plata Peak Fund — a diversified mineral portfolio offering immediate cash flow and long-term upside. Learn more at or call 214.214.4268. About Rising Phoenix Capital Rising Phoenix Capital is a privately held investment firm specializing in direct, alternative asset investments across oil and gas minerals, royalties, non-operated working interests, and real estate. With four generations of experience in energy and real estate, we combine industry expertise with a hands-on approach to deliver strong, stable returns. Our in-house team sources, analyzes, and acquires high-value assets, leveraging off-market deal flow to uncover the best opportunities. By focusing on cash-flowing mineral rights and strategic investments, we provide investors with consistent income and long-term financial growth. At Rising Phoenix Capital, we believe in transparency, efficiency, and integrity—ensuring that every investment decision is backed by data, experience, and a commitment to delivering real value. Photography, B roll, and additional assets are available on the company's Media Kit here. View source version on Contacts Media Contact:Aquila Mendez-Valdezaquila@ 210.606.5251
Forbes
2 days ago
- Science
- Forbes
Why MethaneSAT's Sudden Silence Should Concern Us All
An artist's rendering of MethaneSAT, a satellite designed to measure methane pollution around the ... More world. Why Methane Matters Methane is the second-most significant greenhouse gas after carbon dioxide, but it is far more potent in the short term, trapping over 80 times more heat than CO₂ over a 20-year period. It leaks from pipelines, fracking sites, livestock operations, and landfills, and plays a central role in accelerating global warming. The total yearly methane (CH4) emissions from human activities expressed as weight in megatonnes ... More (Mt) Unlike CO₂, however, methane breaks down relatively quickly in the atmosphere. That means cutting methane emissions is one of the fastest and most effective ways to reduce global temperatures in the near term. Watch my short explainer video on how we can cut methane emissions—and why reducing short-lived climate pollutants like methane could help cool the planet by up to 0.5°C in just a few decades. MethaneSAT was created to provide clear, independent, high-resolution data on where methane was leaking—and who was leaking it. It could single out individual oil fields and drill sites from orbit. And its early results were troubling: emissions from major oil and gas fields in North America and Central Asia were found to be several times higher than companies had officially reported. What MethaneSAT Managed to Expose Before Falling Silent A Sudden Silence The satellite's loss of contact came without warning. According to EDF, the satellite likely experienced a power failure, possibly due to issues with its onboard thruster system or the effects of solar activity. It may never be recovered. It's too early to draw conclusions. Space is inherently risky. But when a mission with this kind of potential—and this kind of impact—stops working just as it hits its stride, it raises difficult questions. Was it just bad luck? "I'm afraid they'll find a way to shut it down"Earlier this year, during a Zoom call to explore a potential collaboration between and MethaneSAT, I spoke with a high-level executive involved in the mission. During our conversation, the person said bluntly that they feared the satellite could be shut down. "I'm afraid they'll find a way to shut it down," they told me. The satellite ultimately failed due to what appears to be a technical issue. But the fact that such a fear could be voiced at all—that a scientific mission could be seen as politically vulnerable—speaks volumes about the world we now live in. A Broader Crisis in Climate Monitoring MethaneSAT's loss is not an isolated event. Many of the world's most important Earth-observing satellites are aging rapidly. NASA's Terra, Aqua, and Aura satellites, launched in the early 2000s, are nearing the end of their operational lifespans. By the end of this decade, most of them will likely be decommissioned. Yet there is no comprehensive replacement plan. Instead, U.S. political momentum is moving decisively in the opposite direction. The 2025 budget proposal from the House of Representatives includes dramatic cuts to Earth science programs at NASA and NOAA. These cuts threaten everything from climate monitoring to weather forecasting. At the very moment we need more eyes on the planet, we're pulling the plug. This week, every living NASA science chief—past and present—signed a joint letter opposing these cuts, warning that eliminating climate science capabilities at this stage would be 'flying blind into the storm.' And the assault goes even deeper. The Trump administration has also proposed shutting down the Mauna Loa Atmospheric Baseline Observatory, the lab that has measured atmospheric CO₂ continuously since 1958. This is the birthplace of the Keeling Curve—the iconic record that shows CO₂ rising from 313 parts per million to over 430 ppm today. It is the most conclusive, long-term evidence of human-caused climate change. And now, it too is on the chopping block. If enacted, these proposals would eliminate much of the U.S. greenhouse gas monitoring network, from northern Alaska to the South Pole. Transparency Under Threat MethaneSAT's data was being integrated into broader climate tracking initiatives, such as Climate TRACE—a groundbreaking project backed by former Vice President Al Gore that aggregates real-time emissions data from satellites and AI-driven analysis. As I detailed in my previous Forbes article, Al Gore's Real-Time Climate Data Just Went Live—Here's Why It Matters, TRACE represents a revolutionary leap in emissions accountability. But the loss of MethaneSAT creates a critical gap in this otherwise powerful global emissions surveillance network. The Fossil Gas Industry's Last Stand The Methane Regulation is an EU law passed in 2024 aimed at reducing methane emissions in the energy sector, especially from oil, gas, and coal. While it came into force in 2024, rules for importers start applying gradually, and full compliance is expected by 2026–2027, depending on the provision. Now, the European Commission is considering weakening the Methane Regulation, likely due to threats of tariffs coming from the Trump administration. The regulation doesn't ban imports—it just says that if you want to sell gas or oil to the EU, you have to measure, report, and reduce your methane emissions. Pretty reasonable, right? But now, of course, the fossil fuel industry shows up, teary-eyed, hat in hand, pleading for mercy. In an open letter this week, industry reps said the regulation is too complicated, the timelines are too tight, and the compliance burden is just too heavy. They're asking for a grace period, contract protections, and a delay in enforcement. Why? Because it's hard, they say, to figure out exactly where their fuel came from or what the emissions were. Because some EU member states haven't finished their national rulebooks. Because compliance might cost money. The fossil gas industry rakes in profits in the hundreds of billions of dollars every year. They've had plenty of time and capital to invest in tracking systems and cleaner infrastructure. Instead, many of them sat on the cash—or handed it out to shareholders—and now claim they're not ready. This regulation didn't come out of nowhere. The warning signs were clear. The legislation process was long. The deadlines were known. Most infuriating of all, this regulation simply asks companies to do what any responsible, ethical organization would be doing of their own accord. For decades, fossil fuel companies have externalized the cost of methane leakage—dumping a climate-damaging gas into the atmosphere while claiming their product is a clean 'bridge fuel.' This regulation is one of the first serious efforts to change that dynamic. It says: if you want access to the EU market, you have to take responsibility for your environmental footprint. Powerful Interests at Stake MethaneSAT's silence is undoubtedly welcomed by fossil fuel industries that stood to lose significantly from increased transparency and accountability. The disappearance of such detailed emissions data removes immediate pressure and scrutiny, allowing polluters to continue claiming to take action to curb emissions while doing nothing of the sort. Meanwhile, the planet's remaining carbon budget is rapidly running out. What's Next? We may never know exactly why MethaneSAT stopped transmitting. But its loss underscores a larger issue: our ability to monitor the Earth—our atmosphere, oceans, emissions—is being not just neglected, but deliberately defunded at a time when it should be rapidly expanding. Imagine a hospital losing its ability to scan a patient mid-diagnosis. Doctors would be blind to the progression of the disease, unable to treat or even assess it. The loss of MethaneSAT is the climate equivalent. Without precise, reliable data, efforts to track and mitigate global warming risk becoming guesswork. Meanwhile, critical climate infrastructure is being targeted elsewhere. The Trump administration's 2025 budget proposal seeks to shut down the Mauna Loa Atmospheric Baseline Observatory—home of the Keeling Curve and the longest-running CO₂ record in the world. It would also defund NOAA's broader greenhouse gas monitoring network, threatening continuity in our core climate records. And yet, in just a few months of operation, MethaneSAT showed what's possible: near-real-time, high-resolution emissions data—independent, accessible, and globally impactful. The response to its failure should not be retreat, but reinforcement. Just because one satellite failed doesn't mean the mission failed. If anything, it proved how essential this kind of monitoring is. New satellites must be launched. Not eventually—now. Because we can't solve what we can't see. And we should never accept flying blind as the new normal.
