Latest Energy industry News

Potential $50 billion Southwestern energy giant emerges as Diamondback seeks to buy rival Endeavor

Feb. 12, 2024 10:15 AM EST

Diamondback Energy will attempt to buy rival Endeavor Energy Resources to create an energy giant in the Southwestern United States worth more than $50 billion. Growing confidence in an economic recovery, particularly in the U.S., has driven massive deals in the energy sector in...

Chesapeake Energy, Southwestern Energy combining in $7.4 billion deal

Jan. 11, 2024 09:09 AM EST

Chesapeake Energy and Southwestern Energy are combining in a $7.4 billion all-stock deal to form one of the biggest natural gas producers in the U.S. There have been a string of deals in the energy sector, including the nearly $60 billion acquisition of Pioneer Natural Resources by...

Knot Offshore: Q3 Earnings Snapshot

Dec. 13, 2023 16:30 PM EST

ABERDEEN, Britain (AP) — ABERDEEN, Britain (AP) — Knot Offshore Partners LP (KNOP) on Wednesday reported net income of $12.6 million in its third quarter. The Aberdeen, Britain-based company said it had profit of 37 cents per share. The tanker company that serves...

Occidental buying CrownRock in cash-and-stock deal valued at about $12 billion

Dec. 11, 2023 09:17 AM EST

Occidental is buying oil and gas company CrownRock in a cash-and-stock deal valued at about $12 billion. "We found CrownRock to be a strategic fit, giving us the opportunity to build scale in the Midland Basin," Occidental President and CEO Vicki Hollub said in a statement, referring...

FTC opens inquiry of Chevron-Hess merger, marking second review this week of major oil industry deal

Dec. 08, 2023 16:35 PM EST

WASHINGTON (AP) — The Federal Trade Commission is investigating Chevron's acquisition of Hess oil company, the second inquiry the independent agency has opened this week of a major oil industry merger. Chevron and Hess said in separate filings that the FTC is seeking additional...

Federal Trade Commission is investigating ExxonMobil's $60B deal to acquire a Texas oil company

Dec. 05, 2023 15:55 PM EST

WASHINGTON (AP) — Federal regulators are investigating ExxonMobil's $60 billion deal to acquire a Texas oil company in what would be one the largest mergers in the energy industry in two decades, according to securities filings. The Federal Trade Commission, which enforces federal...

How major US stock indexes fared Friday, 11/24/2023

Nov. 24, 2023 13:44 PM EST

Stocks closed mixed Friday after a half-day trading session capped a holiday shortened week. The S&P 500 inched up 0.1% after wavering between small gains and losses much of the day. The Dow Jones Industrial Average added 0.3% and the Nasdaq composite slipped 0.1%. The indexes...