Australia: Tamboran To Acquire Falcon Oil & Gas To Create ~2.9-Million-Acre Beetaloo Basin Leader
oil-gas
30 September 2025
Energypedia Newsoil-gas
Sep 30, 2025Energypedia News
Highlights
Tamboran Resources Corporation Chairman and Interim CEO, Richard Stoneburner, said:
'The transaction between Tamboran and Falcon is a logical consolidation of two of the Beetaloo Basin’s most active companies. The transaction will also strengthen Tamboran’s acreage position across the majority of the Beetaloo depocenter following the checkerboarding process with DWE.
'Tamboran will have approximately 2.9 million net prospective acres across the Beetaloo Basin, including 22.5% non-operating interest in all DWE checkers.
'Strategically, we believe this transaction will strengthen our ownership over the Phase 2 Development Area, where we are currently undertaking a farmout process with RBC Capital Markets. This will allow us to sell down a larger position to a new partner while maintaining a material working interest over acreage.
'We recognize Philip and the Falcon shareholders for their work in identifying the opportunity of the Beetaloo Basin and bringing in key historic partners including Hess Corporation and Origin Energy to help de-risk the play.'
Falcon Oil & Gas Ltd. Chief Executive Officer, Philip O'Quigley, said:
'This transaction brings Falcon’s shareholders’ interests in the Beetaloo directly to the centre of operations and provides our shareholders with greater exposure to all activities carried out by Tamboran.
'Upon closing of the transaction, Falcon shareholders will benefit from the increased exposure to the critically important pilot development currently underway in the Beetaloo. In addition, this transaction will remove any uncertainty around Falcon’s participation in the farmout of the Phase 2 Development Area, as previously announced by Tamboran.
It has been a pleasure to work with Dick Stoneburner and his team in bringing this transaction to our shareholders.'
Transaction
The transaction will be structured as a Plan of Arrangement under the Business Corporations Act (British Columbia), whereby Tamboran will acquire the equity interests of each of the subsidiaries of Falcon in exchange for 6,537,503 shares of Tamboran NYSE Common Stock and a cash consideration of US$23.7 million.
Following completion of the transaction, Falcon shareholders are expected to own ~26.8% of the pro forma business. Following completion of the transaction, eligible common shareholders of Falcon will be entitled to receive shares of Tamboran NYSE Common Stock that are distributed by Falcon based on an exchange ratio of 0.00687 shares of Tamboran Common Stock for each Falcon Common Stock.
Further details regarding the process for Falcon shareholders to receive their consideration will be provided in the information circular and proxy statement to be delivered by Falcon in connection with the solicitation of proxies to obtain Falcon shareholder approval of the proposed transaction.
The transaction has been unanimously approved by the Board of Directors of Tamboran and Falcon and is expected to close in the first quarter of 2026, subject to satisfaction of closing conditions, including the approval by Falcon shareholders of the transaction and the approval by Tamboran stockholders of the issuance of the Tamboran NYSE Common Stock.
The closing is also subject to shareholder approval by the 1.9% owners of Falcon Oil & Gas Australia Ltd (Falcon Australia), which is a public unlisted company in which Falcon owns 98.1% of the issued share capital. The approval is required under Item 7, Section 611 of the Corporations Act of Australia.
On completion, Dick Stoneburner will remain Chairman and Interim CEO and no changes to the Board of Directors of Tamboran are planned.
See also: Presentation: Tamboran to acquire Falcon Oil & Gas creating the leading Beetaloo Basin E&P with 2.9 million net prospective acres
Original announcement link
Source: Tamboran Resources
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Australia: Tamboran To Acquire Falcon Oil & Gas To Create ~2.9-Million-Acre Beetaloo Basin LeaderHighlights
Tamboran Resources Corporation Chairman and Interim CEO, Richard Stoneburner, said:
'The transaction between Tamboran and Falcon is a logical consolidation of two of the Beetaloo Basin’s most active companies. The transaction will also strengthen Tamboran’s acreage position across the majority of the Beetaloo depocenter following the checkerboarding process with DWE.
'Tamboran will have approximately 2.9 million net prospective acres across the Beetaloo Basin, including 22.5% non-operating interest in all DWE checkers.
'Strategically, we believe this transaction will strengthen our ownership over the Phase 2 Development Area, where we are currently undertaking a farmout process with RBC Capital Markets. This will allow us to sell down a larger position to a new partner while maintaining a material working interest over acreage.
'We recognize Philip and the Falcon shareholders for their work in identifying the opportunity of the Beetaloo Basin and bringing in key historic partners including Hess Corporation and Origin Energy to help de-risk the play.'
Falcon Oil & Gas Ltd. Chief Executive Officer, Philip O'Quigley, said:
'This transaction brings Falcon’s shareholders’ interests in the Beetaloo directly to the centre of operations and provides our shareholders with greater exposure to all activities carried out by Tamboran.
'Upon closing of the transaction, Falcon shareholders will benefit from the increased exposure to the critically important pilot development currently underway in the Beetaloo. In addition, this transaction will remove any uncertainty around Falcon’s participation in the farmout of the Phase 2 Development Area, as previously announced by Tamboran.
It has been a pleasure to work with Dick Stoneburner and his team in bringing this transaction to our shareholders.'
Transaction
The transaction will be structured as a Plan of Arrangement under the Business Corporations Act (British Columbia), whereby Tamboran will acquire the equity interests of each of the subsidiaries of Falcon in exchange for 6,537,503 shares of Tamboran NYSE Common Stock and a cash consideration of US$23.7 million.
Following completion of the transaction, Falcon shareholders are expected to own ~26.8% of the pro forma business. Following completion of the transaction, eligible common shareholders of Falcon will be entitled to receive shares of Tamboran NYSE Common Stock that are distributed by Falcon based on an exchange ratio of 0.00687 shares of Tamboran Common Stock for each Falcon Common Stock.
Further details regarding the process for Falcon shareholders to receive their consideration will be provided in the information circular and proxy statement to be delivered by Falcon in connection with the solicitation of proxies to obtain Falcon shareholder approval of the proposed transaction.
The transaction has been unanimously approved by the Board of Directors of Tamboran and Falcon and is expected to close in the first quarter of 2026, subject to satisfaction of closing conditions, including the approval by Falcon shareholders of the transaction and the approval by Tamboran stockholders of the issuance of the Tamboran NYSE Common Stock.
The closing is also subject to shareholder approval by the 1.9% owners of Falcon Oil & Gas Australia Ltd (Falcon Australia), which is a public unlisted company in which Falcon owns 98.1% of the issued share capital. The approval is required under Item 7, Section 611 of the Corporations Act of Australia.
On completion, Dick Stoneburner will remain Chairman and Interim CEO and no changes to the Board of Directors of Tamboran are planned.
See also: Presentation: Tamboran to acquire Falcon Oil & Gas creating the leading Beetaloo Basin E&P with 2.9 million net prospective acres
Original announcement link
Source: Tamboran Resources
Energypedia News
oil & gas
30 September 20253 min readAustralia: Tamboran To Acquire Falcon Oil & Gas To Create ~2.9-Million-Acre Beetaloo Basin Leader
Energypedia News
30 September 2025
oil-gas
Tamboran To Acquire Falcon Oil & Gas, Creating 2.9-Million-Acre Beetaloo Basin LeaderTamboran Resources has entered into a definitive agreement to acquire Falcon Oil & Gas Ltd., creating one of the largest acreage holders in Australia’s Beetaloo basin with roughly 2.9 million net prospective acres.
Under the transaction, Tamboran will acquire all Falcon subsidiaries in exchange for 6.5 million shares of Tamboran common stock and $23.7 million in cash. The deal values Falcon at about $172 million and will give Falcon shareholders a 26.8% stake in the combined company. Tamboran shareholders will hold the remaining 73.2%. The transaction has been unanimously approved by both companies’ boards and is expected to close in the first quarter of 2026, pending shareholder approval.
The acquisition strengthens Tamboran’s position in the Beetaloo depocenter and boosts its working interest in the Phase 2 Development Area to more than 80%. That acreage is currently the focus of a farmout process led by RBC Capital Markets, which aims to attract a new development partner while allowing Tamboran to maintain a material stake.
Tamboran Chairman and interim CEO Richard Stoneburner said the deal represents a “logical consolidation” of two of the basin’s most active operators, enabling Tamboran to expand its scale and maintain flexibility in future farmout negotiations.
Falcon CEO Philip O’Quigley noted that the transaction removes uncertainty around Falcon’s participation in the Phase 2 farmout and provides shareholders with direct exposure to Tamboran’s ongoing pilot development activities in the Beetaloo.
The Beetaloo basin is regarded as one of Australia’s most prospective shale gas plays. By consolidating operations, Tamboran aims to enhance efficiency, streamline decision-making, and accelerate development across its expanded footprint. The company said the transaction is accretive to its shareholders, with the implied acreage value representing a slight discount to Tamboran’s current valuation.
Upon completion, Tamboran will hold approximately 2.9 million net prospective acres in the basin, including non-operating interests in Daly Waters Energy acreage. The company expects the enlarged position to better support future development, capital efficiency, and long-term production growth.
World Oil
oil & gas
30 September 20252 min readTamboran To Acquire Falcon Oil & Gas, Creating 2.9-Million-Acre Beetaloo Basin Leader
World Oil
30 September 2025
oil-gas
Tamboran To Acquire Falcon Oil & Gas Ltd. To Create ~2.9-Million-Acre Beetaloo Basin BusinessHighlights
Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) (Falcon) and Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) (Tamboran) have entered into a definitive agreement to create an ~2.9 million net prospective acre business across the majority of the Beetaloo depocenter (Transaction).
The combination of Tamboran and Falcon is a logical consolidation of two leading Beetaloo Basin businesses and creates a company with a pro forma market capitalization of >US$500 million.
Under the Transaction, Tamboran will acquire Falcon via the acquisition of all its subsidiaries in exchange for 6,537,503 shares of Tamboran NYSE Common Stock and cash consideration of US$23.7 million.
On completion, Falcon will distribute Tamboran shares to eligible shareholders at an exchange ratio of 0.00687 shares of Tamboran NYSE Common Stock for each Falcon Common Stock. These shareholders are expected to own ~26.8% of the pro forma business.
The Transaction values Falcon’s subsidiaries at C$239 million (Stg£128 million), at an implied offer price of C$0.2154 (Stg£0.1152) per share. This reflects a 19.7% premium of the closing price of Falcon on the TSX on September 29, 2025 and a 53.2% premium to the 90-day traded VWAP.
The Transaction aims to strengthen Tamboran’s working interest in the Phase 2 Development Area to 80.62% ahead of the previously announced farmout process and creates further alignment with Daly Waters Energy, LP (DWE) across the entire EP 76, 98 and 117 acreage following completion of the previously announced checkerboard process.
The Transaction has been unanimously approved by the Board of Directors of Tamboran and Falcon.
The Transaction is expected to close by the first quarter of 2026, subject to satisfaction of closing conditions, including the approval by Falcon shareholders of the Transaction pursuant to Rule 15 of the AIM Rules for Companies and applicable Canadian corporate and securities laws and the approval by Tamboran stockholders of the issuance of the Tamboran Common Stock.
The Transaction will on completion result in Falcon ceasing to own all of its assets and business; accordingly, Falcon also intends to seek shareholder approval for the cancellation of its shares from trading on the AIM market of the London Stock Exchange and the TSX Venture Exchange (Cancellation), conditional on closing of the Transaction. Further details will be announced in due course.
The entities being acquired pursuant to the Transaction are Falcon’s wholly owned subsidiaries TXM Oil and Gas Exploration Kft., a Hungarian limited liability company; Falcon Oil & Gas Ireland Ltd., an Irish limited liability company; Falcon Oil & Gas Holdings Ireland Ltd., an Irish limited liability company; Falcon Exploration and Production South Africa (Pty) Ltd., a South African limited liability company and Falcon’s 98.1% majority owned subsidiary, Falcon Oil & Gas Australia Limited, an Australian limited liability company (the Subsidiaries). In the twelve months to 31 December 2024, the subsidiaries reported a loss for the year of US$2.2 million and total assets of US$60.7 million.
Falcon Oil & Gas Ltd. Chief Executive Officer, Philip O'Quigley, said:
“This Transaction brings Falcon’s shareholders’ interests in the Beetaloo directly to the centre of operations and provides our shareholders with greater exposure to all activities carried out by Tamboran. Upon closing of the Transaction Falcon shareholders will benefit from the increased exposure to the critically important pilot development currently underway in the Beetaloo. In addition, this Transaction will remove any uncertainty around Falcon’s participation in the farmout of the Phase 2 Development Area, as previously announced by Tamboran.
It has been a pleasure to work with Dick Stoneburner and his team in bringing this Transaction to our shareholders.”
Tamboran Resources Corporation Chairman and Interim CEO, Richard Stoneburner, said:
“The Transaction between Tamboran and Falcon is a logical consolidation of two of the Beetaloo Basin’s most active companies and will strengthen Tamboran’s acreage position across the majority of the Beetaloo depocenter following the checkerboarding process with Daly Waters Energy, LP. (DWE).
Tamboran will have approximately 2.9 million net prospective acres across the Beetaloo Basin, including a 22.5% non-operating interest in all DWE checkers.
Strategically, we believe this Transaction will strengthen our ownership over the Phase 2 Development Area, where we are currently undertaking a farmout process with RBC Capital Markets. This will allow us to sell down a larger position to a new partner while maintaining a material working interest over acreage.
We recognize Philip and the Falcon shareholders for their work in identifying the opportunity of the Beetaloo Basin and bringing in key historic partners including Hess Corporation and Origin Energy to help de-risk the play.”
Transaction
The Transaction will be structured as a Plan of Arrangement under the Business Corporations Act (British Columbia), whereby Tamboran will acquire the equity interests of each of the subsidiaries of Falcon in exchange for 6,537,503 shares of Tamboran NYSE Common Stock and a cash consideration of US$23.7 million. Following completion of the Transaction, Falcon shareholders are expected to own ~26.8% of the pro forma business.
Following completion of the Transaction, eligible common shareholders of Falcon will be entitled to receive shares of Tamboran NYSE Common Stock that are distributed by Falcon based on an exchange ratio of 0.00687 shares of Tamboran Common Stock for each Falcon Common Stock.
Further details regarding the process for Falcon shareholders to receive their consideration will be provided in the information circular and proxy statement to be delivered by Falcon in connection with the solicitation of proxies to obtain Falcon shareholder approval of the proposed Transaction.
The Transaction has been unanimously approved by the Board of Directors of Tamboran and Falcon and is expected to close in the first quarter of 2026, subject to satisfaction of closing conditions, including the approval by Falcon shareholders of the Transaction and the approval by Tamboran stockholders of the issuance of the Tamboran NYSE Common Stock.
The closing is also subject to shareholder approval by the 1.9% owners of Falcon Oil & Gas Australia Ltd (Falcon Australia), which is a public unlisted company in which Falcon owns 98.1% of the issued share capital. The approval is required under Item 7, Section 611 of the Corporations Act of Australia.
Upon closing of the Transaction, the entire Board of Falcon will resign. Tamboran will continue to be led by Chairman and Interim CEO, Dick Stoneburner, and no changes to the Board of Directors of Tamboran are planned.
Advisors
Cavendish Capital Markets Limited is acting as exclusive financial advisor and Borden Ladner Gervais LLP is acting as legal advisor to Falcon and McCullough Robertson is acting as legal advisors to Falcon Oil & Gas Australia Limited. Latham & Watkins LLP, Torys LLP, White & Case LLP and Lakatos, Köves and Partners (LKT) are serving as legal advisors to Tamboran.
Gulf Oil and Gas
oil & gas
30 September 20256 min readTamboran To Acquire Falcon Oil & Gas Ltd. To Create ~2.9-Million-Acre Beetaloo Basin Business
Gulf Oil and Gas
30 September 2025
oil-gas
Rwe Withdraws From $10-B Namibia Green Hydrogen ProjectGerman power utility RWE said that it had withdrawn from Namibia's $10 billion Hyphen green ammonia project, a blow to the southern African nation's ambitions to become a major hydrogen hub.
The pullback is the latest example of companies reconsidering investments in a nascent technology that is expensive to develop.
RWE signed a preliminary non-binding memorandum of understanding with Hyphen in 2022 to take around 300,000 metric tons per year of ammonia - a compound used mostly to make fertilizer - from 2027.
Ammonia is usually produced using natural gas, and decarbonising that process requires replacing gas with hydrogen extracted from water using renewable energy sources.
"We can confirm that RWE is currently not pursuing any further projects in Namibia," the company said in a statement, as demand for hydrogen and hydrogen derivatives such as ammonia develops slower than expected in Europe.
"Against this backdrop, we have reviewed the relevant projects at RWE. This included the project with Hyphen in Namibia."
Hyphen spokesperson Ricardo Goagoseb said RWE had only signed "a memorandum of understanding to explore potential off-take," not made any final purchasing agreement.
Indigenous rights groups wrote to the German group in April, complaining that its concession was inside a national park and encroached on their ancestral Nama land.
Andrea Pietrafesa, legal advisor at the European Centre for Constitutional and Human Rights, in a joint statement with the Nama Traditional Leaders Association, applauded the decision not "to purchase goods produced on land where indigenous rights are violated."
RWE said there was no connection between its decision and these complaints.
Gas Processing and LNG
oil & gas
30 September 20252 min readRwe Withdraws From $10-B Namibia Green Hydrogen Project
Gas Processing and LNG
30 September 2025
oil-gas
Egypt Pays $500M In Arrears To Foreign Oil CompaniesEgypt’s government has paid nearly $500 million in overdue debt to foreign companies in a bid to encourage them to intensify operations and reverse a decline in its gas output.
The government made the payment in September and intends to settle another part of the arrears with a payment of $620 million before the end of 2025, the Saudi news website Asharq Business said, quoting an unnamed Egyptian official.
With this month’s settlement, Egypt owes foreign oil companies operating its oil and gas fields around $1.72 billion, the report said.
It added that the official affirmed the government hoped to “clear all the overdue dues” to foreign oil companies by the end of the first quarter of 2026.
Earlier this month Egypt’s oil minister Karim Badawi said that gas production is expected to recover following significant discoveries by companies operating in Egypt.
Badawi, speaking at a meeting with heads of those companies in Cairo, said the decision by President Abdel Fattah Al-Sisi to pay foreign partners regularly would boost investor confidence and encourage them to pump more investments.
“The joint efforts with our partners in the oil and gas sector have contributed to reducing the decline in gas production, achieving stability and beginning the journey back to high production rates,” the minister said.
Prime Minister Mostafa Madbouly said in July that new projects and the award of more contracts to foreign oil majors would boost Egypt’s gas output and allow it to export again in 2027.
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Arabian Gulf Business Insight
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23 September 20252 min readEgypt Pays $500M In Arrears To Foreign Oil Companies
Arabian Gulf Business Insight
23 September 2025
oil-gas
Every Last Drop: Ai-Powered Analysis Reveals Oil Industry'S Trillion-Barrel Opportunity In Existing FieldsThe oil industry possesses a trillion-barrel opportunity within existing fields that could meet global demand through 2050 without major new discoveries, according to groundbreaking analysis from Wood Mackenzie.
"The oil industry's challenge is enormous," said Andrew Latham, SVP Energy Research at Wood Mackenzie. "Total liquids demand under our base-case Energy Transition Outlook scenario is just less than 1 trillion bbls through 2050. Without upgrades to current development plans, today's onstream fields are set to fall short by almost 300 billion bbls. This deficit would grow by another 50 billion bbls under our delayed transition scenario."
Wood Mackenzie’s proprietary Synoptic AI-powered analysis of oilfield performance shows existing fields are far from exhausted. The new AI-powered Analogues feature enables efficient, unbiased assessment of Wood Mackenzie’s already industry-leading data to deliver previously overlooked insights into recovery upside.
In one of the first deployments of the Analogues feature, it was revealed that better recovery from producing fields could yield an additional 470 billion to over 1000 billion bbls. This potential only requires the application of established best practices already deployed successfully across the industry, not unproven technologies.
National oil companies control almost 70% of recovery upside
Using proprietary data on reservoir geology, hydrocarbon quality, in-place resources, operator access to finance and technology, costs and fiscal terms, Wood Mackenzie estimates upside oil recovery factors. The analysis examined over 30 000 fields worldwide using machine learning to identify similar analogues across 60+ parameters.
The research reveals that national oil companies (NOCs) and state-controlled enterprises operate fields containing more than 320 billion bbls of upside potential if top-quartile recovery factor is achieved and 700 billion barrels on a best-in-class recovery basis - representing almost 70% of the global opportunity.
Iran, Venezuela, Iraq, and Russia stand out with the largest recovery upside potential of any countries. By contrast, major international oil companies, despite operating above-average quality fields, control just 6% of global upside potential due to their already strong performance levels.
"The future of oil supply will be increasingly onshore and NOC-operated," adds Latham. "While Majors have demonstrated superior recovery factors, they've become victims of their success with limited remaining portfolio upside."
Technology partnerships essential for unlocking reserves
The analysis reveals a critical mismatch between opportunity locations and expertise. NOCs currently achieve recovery factors slightly below the industry average of 29%, despite operating fields with geological potential for best-in-class performance of 39%. This performance gap creates substantial opportunities for international oil companies and service providers to forge deeper partnerships with state enterprises.
Success depends on NOCs improving technology and capital access whilst offering attractive commercial terms to international partners. More opportunities exist in producing fields than available capital. Host governments seeking optimal resource development need attractive terms to secure the best operators. This dynamic positions well-capitalised international players to capture significant value through strategic partnerships.
AI transforms analysis of oil field upside potential
By analysing reservoir lithology, porosity, oil gravity, viscosity, fiscal terms and development costs, Wood Mackenzie's AI-powered Analogues feature ranks each field's closest analogues using machine learning similarity scores
This approach identifies four reserve scenarios for over 2500 conventional oil fields. These range from most likely reserves under current plans to best-in-class potential based on top-performing analogues. The unbiased methodology ensures lessons derive from truly similar fields rather than superficial matches.
Upside potential lies almost exclusively within onshore and shallow offshore fields, accounting for 63% and 31% of best-in-class opportunities, respectively. Deepwater fields, typically operated by well-funded companies with excellent technological access, hold less than 6% of remaining upside.
Meeting demand without new oil field discoveries
The findings challenge conventional wisdom about major new oil discoveries. Since the 1980s, the industry has met growing demand primarily through upward revisions to existing fields rather than new finds. The discovery-production gap has widened each decade.
Exploration will continue to add value by finding advantaged resources to displace higher-cost or otherwise disadvantaged barrels. However, new discoveries alone cannot come close to bridging a gap of this size.
While the industry maintains nearly 2 trillion bbls in undeveloped greenfield resources, barely 10% appears commercially viable under current conditions. Most resources will remain stranded due to challenging economics or technical constraints.
"Security of supply need not depend on unpredictable exploration results or unproven technologies," the analysis concludes. "Existing fields and proven recovery methods can meet the challenge with the right partnerships and investment approaches."
Achieving top-quartile performance industry-wide would boost average recovery factors from 29% to 34%, adding 470 billion bbls of reserves and fundamentally reshaping global energy security prospects.
"Improved recovery factors will be essential to meeting future demand for oil as there are unlikely to be anywhere near enough new fields to offset the natural decline of existing supply," concludes Latham. "Using AI to help understand the potential of existing fields and gauge how much the world will need new fields in future represents a significant advance from traditional field analogue methods based on filtering that produce biased results."
Read the article online at: https://www.oilfieldtechnology.com/digital-oilfield/18092025/every-last-drop-ai-powered-analysis-reveals-oil-industrys-trillion-barrel-opportunity-in-existing-fields/
IMI delivers ‘largest production’ choke valves to landmark North Sea unmanned production platform.
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Oilfield Technology
oil & gas
18 September 20255 min readEvery Last Drop: Ai-Powered Analysis Reveals Oil Industry'S Trillion-Barrel Opportunity In Existing Fields
Oilfield Technology
18 September 2025
oil-gas
Dp World’S Cad $150 Million Investment Expands Canada’S Canola Oil Export CapacityDP World has begun full operations at its new Canola Oil Transload Facility at Fraser Surrey, a CAD $150 million strategic investment that enhances Canada’s export capacity and strengthens direct connectivity between prairie farmers and international markets.
In 2024, Canada exported 3.5 million metric tonnes of canola oil, valued at CAD $5.9 billion. With production concentrated in Saskatchewan (55%), Alberta (29%), and Manitoba (16%), efficient rail-to-port infrastructure is vital to maintaining global competitiveness.
The new Fraser Surrey facility adds 1 million metric tonnes a year of capacity, streamlining the movement of canola oil from rail to vessel. Oil arrives by rail from the prairies, is stored in three large-capacity tanks, and is pumped directly to ships via a dedicated underground pipeline.
Doug Smith, CEO of DP World in Canada, said: “By streamlining the movement of oil from rail to vessel, this facility reduces handling, increases throughput, and improves reliability, providing Canadian producers with faster, more efficient access to global markets. The entire operation is designed to support the growing worldwide demand for Canadian canola oil — an essential ingredient in food, fuel, and renewable products.”
Honourable Ravi Kahlon, Minister of Jobs and Economic Growth, Government of BC, said: “The completion of this new canola oil facility at Fraser Surrey highlights British Columbia's critical role as a catalyst for Canada's new economy. With our ports connecting Canada's heartland to the world, we're supporting farmers and exporters across Western Canada and creating good jobs here in B.C. while driving sustainable economic growth for the province as we face the threat of tariffs.”
Tom Hamilton, Executive Vice-President of Agribusiness Operations, Richardson International, said: “DP World’s new facility strengthens our ability to compete in global markets by enhancing both canola oil capacity and supply chain reliability. This investment streamlines the critical connection between prairie production and coastal shipping, allowing Richardson to respond to growing customer demand even further and deliver Canadian canola oil more efficiently to buyers around the world.”
The new canola facility complements DP World’s existing expertise in bulk and breakbulk handling at Fraser Surrey, where it manages a wide range of agricultural and industrial commodities including grain and steel. By expanding capacity for one of Canada’s most important agricultural exports, DP World is reinforcing its role as a leader in bulk trade infrastructure, supporting global food security and renewable fuel markets.
The launch of the new canola facility follows DP World’s recent joint development agreement with the Montreal Port Authority to design the future Contrecœur container terminal. Together, these projects underscore DP World’s long-term commitment to strengthening Canada’s trade infrastructure from coast to coast.
Canola Oil Facility Features
Rail access: Two spur tracks for unloading, railcar offloading stations, pumps, and piping.
Storage: Three 15,000-metric-tonne capacity steel tanks (18 metres high, 37 metres in diameter), including containment walls for environmental protection.
Pipeline: Underground transmission and recycle line connecting the storage tanks directly to the marine trestle.
Marine access: New trestle and vessel loading platform with a marine loading arm and upgraded berthing safety features.
Supporting infrastructure: Control building, motor control centre and lighting.
Construction began in late 2023 and was completed on schedule. The facility highlights DP World’s commitment to building sustainable, strategically located trade infrastructure that strengthens Canada’s agricultural economy, and ensures more resilient global supply chains in a challenging global environment.
With operations now underway, DP World is helping Canadian producers expand their access to international markets, creating long-term value for customers and communities across the country.
Gulf Oil and Gas
oil & gas
18 September 20253 min readDp World’S Cad $150 Million Investment Expands Canada’S Canola Oil Export Capacity
Gulf Oil and Gas
18 September 2025
oil-gas
Ukraine Will Need To Buy $1 B Of Gas To Hit Winter Storage Target After Russian AttacksUkraine has secured gas reserves to meet 80%–90% of its winter demand and needs up to $1 B of additional fuel to get through its fourth heating season since Russia invaded the country, industry officials and analysts say.
Russia has spent the past two years attacking Ukrainian energy infrastructure to weaken its military and undermine civilian morale. The campaign has reduced domestic gas production and power generation dramatically, with Russian strikes continuing almost daily.
Ukraine has about 11 Bm3 of gas in storage, amounting to more than 80% of the government’s 13.2 Bm3 target, said Yurii Boiko, a supervisory board member at state-owned power grid operator Ukrenergo.
Ukrainian energy consultancy ExPro, however, put stocks at 12 Bm3, or 90% of target.
Targets may need to be revised. That means 1 Bm3–2 Bm3 will have to come from domestic production or be imported from other European countries, officials and analysts said. That would cost the country between $500 MM and $1 B, according to calculations based on current and last winter's EU gas price.
Officials warn that further attacks on production or storage sites could force Ukraine to revise its targets. Last winter, blackouts lasted up to 18 hours a day in some areas.
"If gas infrastructure is damaged, we will have to look for costly resources to make up for the shortfall," Boiko said.
Ukraine stored 12.8 Bm3 of gas ahead of last winter, which proved too little after Russian attacks damaged infrastructure, said Serhiy Makogon, former head of the Ukrainian gas transmission system.
"It brought the country to the brink of a gas blackout," Makogon said. He estimates remaining gas import needs for the season at 1 Bm3 to 1.5 Bm3, costing up to about $900 MM.
Russian attacks cut Ukraine's gas output by about 0.5 Bm3 last winter, said Oleksandr Kharchenko, director of the Kyiv-based Centre of Energy Studies. He said he would like to see gas stocks at 14 Bm3 for winter.
Polish gas shipments on the rise. Before the war, Ukraine produced about 55 MMm3d of gas, or up to 20 Bm3y. Current production figures are classified.
Ukraine mainly imports gas from Hungary, but shipments via Poland have been on the rise. Existing interconnectors allow Ukraine to import more than 60 MMm3d - more than enough to cover daily demand in case of an acute need.
Poland is working on doubling capacity on its link with Ukraine to 4 Bm3y by early 2026 (learn more). Ukraine also plans to import U.S. liquefied natural gas (LNG) via Germany, Greece, Lithuania and Poland.
Importing gas is becoming safer than stockpiling, given Russian attacks on production and storage facilities, said Andriy Kobolev, former CEO of state-run Naftogaz.
Ukraine has Europe's largest underground storage facilities, with capacity of 30 Bm3. Western companies stored up to 3 Bm3 of gas in Ukraine last year, but volumes fell to zero this year after Russian attacks intensified.
Gas Processing and LNG
oil & gas
17 September 20253 min readUkraine Will Need To Buy $1 B Of Gas To Hit Winter Storage Target After Russian Attacks
Gas Processing and LNG
17 September 2025
oil-gas
Energean Wins Us$4 Billion In Israeli Gas Contracts In H1 2025The move has bolstered the company’s contract pipeline to US$20 billion (£14.77 billion) over the next 20 years.
Energean, a gas producer, secured US$4 billion worth of new long-term Israeli gas offtake contracts in the first half of 2025 (H1 2025), ended 30 June.
This strategic move has significantly bolstered the company’s contract pipeline to US$20 billion over the next two decades.
Despite this positive development, Energean’s financial performance in the first half of the year has been affected by a series of operational challenges including a planned shutdown for essential works and a government-mandated suspension of production.
The company's operations across Egypt, Italy, Croatia, the UK and Greece, which collectively produced 44 000 boe/d in H1 2025, remain a focus for maximising value.
However, Energean reported an 11% decline in core profit for the six months leading up to 30 June, while its after-tax profit increased by nearly 24%.
Adjusted earnings before interest, taxes, depreciation, amortisation and exploration expense (EBITDAX) stood at US$505 million, with after-tax profit reaching US$110 million.
The temporary suspension of production in Israel in June and a delay in commissioning the second oil train have led Energean to revise its production forecast for the year.
The company now expects production to range between 145 000 boe/d and 155 000 boe/d, a decrease from the previously anticipated 155 000 boe/d to 165 000 boe/d.
In Egypt, Energean's CEO, Mathios Rigas, told Reuters there is an estimated further 3 trillion ft3 of gas beneath its existing platforms.
Offshore Israel, the company is considering drilling into untapped formations in deep Mesozoic rocks in Block 23, which Rigas believes could be a "new play opener for the whole East (Mediterranean)".
However, Energean is seeking a partner for this well and anticipates that drilling will have to wait for regional stability.
Rigas also mentioned that Energean expects to produce up to 2 billion m3 a year from its Katlan field off Israel, which is set to begin production in 2027.
This output is due to be transported via the proposed Nitzana pipeline from Israel to Egypt, which is yet to be constructed.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/15092025/energean-wins-us4-billion-in-israeli-gas-contracts-in-h1-2025/
The deal encompasses a comprehensive range of OCTG supplies including pipes and VAM premium connections.
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Oilfield Technology
oil & gas
15 September 20252 min readEnergean Wins Us$4 Billion In Israeli Gas Contracts In H1 2025
Oilfield Technology
15 September 2025
oil-gas
Crc To Acquire Berry In $717 Million All-Stock Merger, Expanding California Oil AssetsCalifornia Resources Corporation (CRC) will acquire Berry Corporation in an all-stock transaction valued at about $717 million, including Berry’s net debt, the companies announced on Sept. 15.
Under the agreement, Berry shareholders will receive 0.0718 shares of CRC stock for each Berry share, representing a 15% premium based on Sept. 12 closing prices. Once completed, CRC shareholders will own roughly 94% of the combined company. The transaction has been unanimously approved by both boards and is expected to close in the first quarter of 2026, pending regulatory and shareholder approvals.
CRC President and CEO Francisco Leon said the combination will strengthen the company’s California-focused portfolio. “The combination of CRC and Berry will create a stronger, more efficient California energy leader. This transaction is attractively valued and immediately accretive across key financial metrics, strengthening our ability to deliver sustainable value to shareholders,” Leon said.
Berry Chair Renée Hornbaker called the merger a timely opportunity: “The industrial logic of this merger will allow Berry shareholders to benefit from the creation of a larger and more sustainable business, with an improved capital structure and significant operational synergies.”
The combined company would have produced about 161,000 barrels of oil equivalent per day in the second quarter of 2025, with 87% of reserves already developed. CRC said it expects to generate $80–90 million in annual synergies within a year of closing and maintain a leverage ratio below 1.0x.
The merger also gives CRC access to Berry’s Uinta Basin acreage in Utah, providing what the companies described as additional operational and financial optionality. CRC will assume Berry’s debt and may refinance it through existing cash and credit lines.
World Oil
oil & gas
15 September 20252 min readCrc To Acquire Berry In $717 Million All-Stock Merger, Expanding California Oil Assets
World Oil
15 September 2025
oil-gas
Us: Epa Releases Proposal To End The Costly Greenhouse Gas Reporting Program, Saving Up To $2.4 BillionIn accordance with President Trump’s Day One executive orders, U.S. Environmental Protection Agency (EPA) Administrator Lee Zeldin has announced a proposed rule to end the burdensome Greenhouse Gas Reporting Program (GHGRP), saving American businesses up to $2.4 billion in regulatory costs while maintaining the agency’s statutory obligations under the Clean Air Act (CAA). Unlike other mandatory information collections under the CAA, the GHGRP is not directly related to a potential regulation and has no material impact on improving human health and the environment. If finalized, the proposal would remove reporting obligations for most large facilities, all fuel and industrial gas suppliers, and CO2 injection sites.
'Alongside President Trump, EPA continues to live up to the promise of unleashing energy dominance that powers the American Dream. The Greenhouse Gas Reporting Program is nothing more than bureaucratic red tape that does nothing to improve air quality,' said EPA Administrator Zeldin. “Instead, it costs American businesses and manufacturing billions of dollars, driving up the cost of living, jeopardizing our nation’s prosperity and hurting American communities. With this proposal, we show once again that fulfilling EPA’s statutory obligations and Powering the Great American Comeback is not a binary choice.'
By reducing the overall regulatory burden, current regulated parties will be able to focus compliance expenditures on actual, tangible environmental benefits. As the agency continues to Power the Great American Comeback, this proposal represents a significant step toward streamlining operations, cutting unnecessary red tape, unleashing American energy, and advancing EPA’s core mission of protecting human health and the environment.
The GHGRP requires 47 source categories, covering over 8,000 facilities and suppliers in the U.S. to calculate and submit their greenhouse gas (GHG) emissions reporting annually. Following a careful review, EPA proposed that there is no requirement under CAA section 114(a) to collect GHG emission information from businesses nor is continuing the ongoing costly data collection useful to fulfill any of the agency’s statutory obligations. Therefore, EPA is proposing to remove all GHG reporting requirements, except for those subject to the Waste Emissions Charge (WEC).
CAA section 136 only requires data collection for segments of subpart W (petroleum and natural gas systems) subject to the WEC. On July 4, 2025, President Trump signed the One Big Beautiful Bill Act, which amended CAA section 136(g), so that the WEC now applies to emissions reported for calendar year 2034 and for each year thereafter. In accordance with the law, EPA will not be collecting subpart W data until 2034.
EPA will initiate a public comment period to solicit input. Further information on the public comment process and instructions for participation will be published in the Federal Register and on the EPA website.
For more information on the proposed rule and how to comment, please see EPA’s fact sheet here.
Background
On March 12, 2025, Administrator Zeldin announced that the agency was reconsidering the GHGRP. This was announced in conjunction with a number of historic actions to advance President Trump’s Day One executive orders and Power the Great American Comeback. While accomplishing EPA’s core mission of protecting human health and the environment, the agency is committed to fulfilling President Trump’s promise to unleash American energy.
Congress authorized funding for the creation of the GHGRP in the Fiscal Year 2008 Consolidated Appropriations Act. The Obama EPA promulgated the program and began collecting data in 2010. The GHGRP currently requires reporting of GHG data from certain large GHG emission sources, fuel and industrial gas suppliers, and CO2 injection sites.
November 18, 2024, the Biden EPA issued the final WEC rule to implement the 2022 Inflation Reduction Act’s methane tax provisions. Congress amended the CAA by adding section 136, “Methane Emissions and Waste Reduction Incentive Program for Petroleum and Natural Gas Systems.” Among other things, CAA section 136 (c)-(g) required EPA to impose and collect a waste emission charge on methane emissions that exceeded specified thresholds from applicable facilities that reported more than 25,000 metric tons of carbon dioxide equivalent (MTCO2e) of GHGs under the petroleum and natural gas systems subpart W source category.
On March 14, 2025, President Trump signed a joint resolution of disapproval under the Congressional Review Act, disapproving the November 2024 final WEC rule.
Original announcement link
Source: EPA
Energypedia News
oil & gas
13 September 20254 min readUs: Epa Releases Proposal To End The Costly Greenhouse Gas Reporting Program, Saving Up To $2.4 Billion
Energypedia News
13 September 2025
oil-gas
Kuwait Petroleum Eyes $7 Billion Pipeline Deal To Fund Upstream Oil Expansion(Bloomberg) - Kuwait Petroleum Corp. (KPC) is weighing a multibillion-dollar pipeline lease deal that could raise as much as $7 billion to support its ambitious upstream oil investment program. The state-backed company, OPEC’s fifth-largest producer, is considering leasing 13 pipelines for up to 25 years, according to people familiar with the matter. Centerview Partners LLC is advising on the potential transaction.
The deal would mirror recent monetization strategies by regional peers Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC), which have leased key midstream assets to global investors to free up capital for upstream growth. KPC plans to invest $65 billion across its portfolio, with about $33 billion earmarked for boosting oil production capacity toward its long-term goal of 4 million barrels per day by 2035.
CEO Sheikh Nawaf Al-Sabah has signaled flexibility in funding strategies, pointing to pipeline monetization as a competitive option. “If it comes from a pipeline deal, which would be open to both domestic and foreign investors, I’ll pursue that,” he said in an earlier interview.
The company’s upstream investment push comes amid growing demand for Gulf crude and heightened competition for capital in the global energy transition. Any final decision will require government approval, but a pipeline deal would underscore Kuwait’s commitment to sustaining and expanding upstream output in line with its OPEC role.
The deliberations follow recent major regional infrastructure transactions, including BlackRock’s $11 billion lease-and-leaseback deal with Aramco on the Jafurah gas project, as well as prior pipeline divestments by ADNOC. By pursuing similar partnerships, KPC is positioning itself to unlock capital while accelerating upstream drilling and production projects critical to its long-term energy strategy.
World Oil
oil & gas
12 September 20252 min readKuwait Petroleum Eyes $7 Billion Pipeline Deal To Fund Upstream Oil Expansion
World Oil
12 September 2025
oil-gas