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☆ Chevron to buy PDC Energy in $7.6 billion deal
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

May 22 (Reuters) - Chevron Corp (CVX.N) said on Monday it would acquire PDC Energy Inc (PDCE.O) in an all-stock transaction for $7.6 billion, including debt, adding new drilling inventory to its U.S. oil and gas reserves. The PDC Energy deal is the second in three years that bulks up Chevron's shale operations in Colorado and Wyoming. Chevron is already one of the larger producers in the Denver-Julesburg Basin after its acquisition of Noble Energy in 2020 for $13 billion. The PDC deal is expected to add $1 billion to annual free cash flow for Chevron. The deal values PDC at $72 per share, representing a premium of 10.56% to Friday's close and carries the equity value of $6.3 billion.

☆ New Exxon Beaumont, Texas crude unit completes startup -sources
▼ + stars: | 2023-04-06 | by ( Erwin Seba | ) www.reuters.com time to read: +1 min

The new 250,000 barrel-per-day (bpd) Crude C CDU lifts the Beaumont refinery's capacity to 619,024 bpd, second only to the Motiva Enterprises (MOTIV.UL) refinery in nearby Port Arthur, Texas, the people said. Exxon has also restarted the Beaumont refinery's 65,000 diesel-producing hydrocracker, which was shut by a compressor outage on March 22, the people said. Alongside Crude C, Exxon has said it built a hydrotreater. Crude C is the third CDU at the Beaumont refinery. The CDUs break down crude oil into feedstock for all other production units.

☆ Factbox: TikTok's Chinese ownership, security concerns spark bans across nations
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationFeb 28 (Reuters) - The White House has set a 30-day deadline for U.S. government agencies to remove Chinese-owned social media app TikTok from all federal devices and systems. AfghanistanIs in talks to ban TikTok and video game PUBG, with the Taliban claiming those were leading Afghan youths "astray." U.S. Congress passed a bill in December 2022 to ban TikTok on federal devices. U.S. Educational InstitutionsBoise State University, University of Oklahoma, University of Texas-Austin, and West Texas A&M University are some of the schools to ban TikTok on university devices and Wi-Fi networks. European CommissionThe European Union's executive arm, the European Commission, has issued an order to ban the use of popular Chinese app TikTok on its staff's phones due to cybersecurity concerns.

☆ Factbox: TikTok suffers another blow with European Commission's ban
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

[1/2] A 3-D printed figures are seen in front of displayed Tik Tok logo in this picture illustration taken November 7, 2019. Picture taken November 7, 2019. REUTERS/Dado Ruvic/IllustrationFeb 24 (Reuters) - European Union's executive arm, the European Commission, has issued an order to ban the use of popular Chinese app TikTok on its staff's phones due to cybersecurity concerns. AfghanistanIs in talks to ban TikTok and video game PUBG, with the Taliban claiming those were leading Afghan youths "astray." loadingPakistanBanned TikTok at least four times, with the latest ban running for four months till November 2022, over what the government said was immoral and indecent content on the app.

Bills to block the app on state devices in California, Massachusetts, New York and Vermont have also been proposed. University of IdahoSchool’s policy: TikTok must be removed from university equipment "regardless of funding source," according to the school's help page. South Dakota University SystemSchool’s policy: The South Dakota Board of Regents, which governs six universities including Black Hills State University, University of South Dakota, Northern State University, Dakota State University, South Dakota State University and South Dakota Mines, told employees they could not use, download or access TikTok on university devices. University of Texas — AustinSchool’s policy: On Dec. 16, university officials announced that TikTok would be banned on state-issued devices. Texas Tech UniversitySchool’s policy: University employees are prohibited from using TikTok on school-issued devices and official university TikTok accounts must be deactivated.

☆ Exclusive: Exxon prepares to start up $1.2 bln Texas oil refinery expansion - sources
▼ + stars: | 2023-01-13 | by ( Erwin Seba | ) www.reuters.com time to read: +4 min

Initial startup of a 250,000 barrels per day (bpd) crude distillation unit (CDU) at the 369,000 bpd refinery is expected by Jan. 31, the sources said, making the Beaumont refinery the second largest in the United States. SHALE OIL TO DIESELExxon had no immediate comment on the start up of the new processing unit, called the Beaumont Light Atmospheric Distillation Expansion (BLADE) project. BLADE, considered as early as 2014 and formally approved in 2019, was planned to process Exxon's crude oil pumped from the Permian shale field in West Texas and New Mexico. Operators at the Beaumont refinery this week were purging the new CDU of air in preparation to introduce its first crude, the people familiar with the matter said. POST-PANDEMIC MILESTONEExxon's Beaumont expansion marks a return to an era of steady refining capacity gains through processing tweaks and adding new equipment to existing plants.

Canada is in the midst of building a large terminal to export LNG, but its completion is two years away. Canadian gas production is on track to reach a record 18 bcfd in 2022 and 19 bcfd in 2023, according to energy consultancy Rystad Energy. Pipelines are also constrained in Canada due to swift production growth, particularly TC Energy Corp's (TRP.TO) NGTL pipeline system that ships gas around and out of western Canada. In August, gas prices in Alberta briefly turned negative because of bottlenecks stemming from NGTL maintenance. U.S. LNG exports are expected to reach 10.6 bcfd in 2022 and 12.3 bcfd in 2023, according to federal estimates.

U.S. shale production costs are soaring and there is no sign that tight-fisted investors will change their demands for returns rather than investment in expanding drilling. At Helmerich & Payne (HP.N), one of the largest drilling contractors, its R&D budget will rise only $1 million, from 2022's $27 million. The U.S. government expects overall oil production to reach a new peak next year, but it has several times this year cut its forecasts. Shale production declines rapidly after peaking compared to conventional oil wells, falling about 50% after the first year. Lower production rates are "a longer-term prospect," said Mike Oestmann, chief executive of shale producer Tall City Exploration.

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☆ Frackers Jockey With Potash Miners for Space to Grow in Top U.S. Oil Field
▼ + stars: | 2022-10-30 | by ( Collin Eaton | ) www.wsj.com time to read: 1 min

A drilling island designed for the extraction of oil and gas while ensuring the safety of potash miners. Frackers in America’s busiest oil field are butting heads with miners working to boost production of a vital crop nutrient in short supply following Russia’s invasion of Ukraine. Relentless drilling in the Delaware basin has pushed New Mexico’s oil production up faster than in any other state over the past 10 years. But the Delaware, part of the Permian oil field that straddles West Texas and southeastern New Mexico, also contains vast deposits of potash, a key fertilizer ingredient for corn, cotton, sugar, wheat and many other commodities.

☆ Private Oil Drillers Are Hitting Their Limits
▼ + stars: | 2022-09-19 | by ( Collin Eaton | Benoît Morenne | ) www.wsj.com time to read: 1 min

Private companies in the Permian Basin of West Texas and New Mexico emerged from the pandemic-induced oil downturn as a growth engine for U.S. shale. Dozens of small drillers helped fuel a resurgence in the busiest U.S. oil patch over the past two years. But they tapped many of their best drilling spots, and will have to ease their rapid pace of drilling as their inventory shrinks, analysts and executives say. Private oil companies in the Permian Basin of West Texas and New Mexico emerged from the pandemic-induced oil downturn last year as a growth engine for U.S. shale, now running almost half of the working drilling rigs there, up from a quarter before the pandemic. Their publicly traded rivals are restrained by shareholders pushing for conservative spending and using leftover cash to pay investors and reduce debt.

☆ Private Drillers Are Hitting Their Limits
▼ + stars: | 2022-09-19 | by ( Collin Eaton | Benoît Morenne | ) www.wsj.com time to read: 1 min

☆ Ce culoare are, de fapt, Soarele?
▼ + stars: | 2020-12-13 | by ( ) www.jurnal.md time to read: +2 min

„Soarele și toate straturile sale strălucesc. Așadar, dacă încercăm să aflăm ce culoare are Soarele, trebuie să disecăm razele solare pe Pământ și să le cuantificăm. Fiecare culoare pură are o frecvență distinctă”, a adăugat Baird. Tocmai de aceea, oamenii de știință au tendința să folosească termenii „culoare” și „frecvență” în mod alternant, culoarea unei raze de lumină fiind definită de frecvența sa. Dacă o anumită frecvență ar fi mai luminoasă decât restul, am putea concluziona că Soarele este de acea culoare, însă nu așa stau lucrurile.

Persons: Christopher Baird, University, Baird Organizations: West, West Texas A Locations: West Texas

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