Insights

SLB awarded major drilling contract by Woodside Energy for ultra-deepwater Trion development, offshore Mexico

DETAILS

- SLB has been awarded a major drilling contract by Woodside Energy for the Trion development project offshore Mexico. - The contract includes the delivery of 18 ultra-deepwater wells over a three-year period. - SLB will utilize AI-enabled drilling capabilities to enhance operational efficiency and well quality. - The contract encompasses digital directional drilling services, logging while drilling, surface logging, cementing, drilling and completions fluids, completions, and wireline services. - The Trion development involves challenging technical conditions with water depths of up to 2,500 meters. - SLB's expertise in ultra-deepwater drilling and advanced technologies will ensure safe and reliable delivery of the project. - Services are set to begin in early 2026, managed through SLB's Performance Live digital service delivery centers. - This contract follows a previous agreement for subsea equipment with the SLB OneSubsea joint venture in 2023. - Woodside is partnering with Pemex for the field development, targeting first production in 2028. - SLB is a global technology company focused on energy innovation across over 100 countries.

COMPANIES

SLB, Woodside Energy, Pemex

TAGS

oil and gas

WhiteHawk Energy Acquires Natural Gas Mineral and Royalty Interests Across 475,000 Gross Unit Acres in Core of Marcellus Shale

DETAILS

- WhiteHawk closes $118 million acquisition of additional Marcellus Shale natural gas mineral and royalty assets by doubling its ownership interests in its existing 475,000 gross unit acres position. - Acquisition generates cash flow from over 1,400 wells, anchored by top-tier operators EQT, Range Resources, and CNX Resources. - This transaction increases WhiteHawk’s natural gas mineral and royalty interests in its approximately 1,050,000 gross unit acres in the core of the Marcellus and Haynesville Shales with interests in over 3,400 producing wells. - The $118 million transaction doubles the Company’s present ownership interest in a portion of its Marcellus Shale royalties position, primarily focused in Washington and Greene counties, Pennsylvania. - The 2025 Marcellus Acquisition provides additional production, line-of-site development, undeveloped inventory, and cash flow from WhiteHawk’s core Appalachia position. - This marks WhiteHawk's sixth acquisition over the last three years and the third acquisition of royalty interests on these assets. - WhiteHawk’s consolidated Marcellus Shale assets cover approximately 675,000 gross unit acres with production from around 2,068 horizontal shale wells. - The Company owns mineral and royalty interests in 141 wells-in-progress, 66 permitted wells, and 1,713 undeveloped Marcellus locations, with additional potential from the underlying Utica Shale. - Approximately 95% of production, cash flow, and present value associated with the Marcellus assets are operated by EQT, Range Resources, CNX Resources, and Antero Resources. - WhiteHawk also owns natural gas mineral and royalty assets in the Haynesville Shale, covering approximately 375,000 gross unit acres and about 1,371 producing horizontal shale wells. - The Haynesville Shale assets are actively being developed by Expand Energy, Aethon Energy Management, and Comstock Resources. - WhiteHawk Energy focuses on acquiring mineral and royalty interests in top tier natural gas resource plays, including the Haynesville and Marcellus Shales. - The management team at WhiteHawk has successfully grown over $13 billion of minerals, midstream, and exploration and development companies over the last 20 years.

COMPANIES

WhiteHawk Energy, EQT, Range Resources, CNX Resources, Antero Resources, Expand Energy, Aethon Energy Management, Comstock Resources

TAGS

oil and gas

PG&E Advancing $43 Million for Nine New Community Microgrids in Northern California

DETAILS

- Pacific Gas and Electric Company (PG&E) plans to award up to $43 million for developing nine new community microgrids in Northern and Central California. - The application window for the second wave of Microgrid Incentive Program (MIP) grant funding opens on April 3. - Interested parties must submit project ideas by May 30, 2025, via email. - The MIP supports the development of microgrids to assist disadvantaged communities most vulnerable to power outages. - Microgrids can disconnect from and reconnect to the grid to maintain energy during outages. - Community microgrids are designed to serve vulnerable customers and essential community resources. - PG&E received around 50 inquiries from various organizations since launching the MIP in late 2023. - Out of these, 22 projects advanced to submit applications after initial screening and consultations. - Each of the 22 projects received a $25,000 grant for application development. - Nine projects were selected after a thorough evaluation based on community benefits and project costs. - The selected projects will undergo due diligence to confirm project details before formally accepting the awards. - Approximately $34 million will fund generating resources, engineering, project management, and property costs. - Each project will receive up to an additional $1 million for interconnection costs related to distributed energy resources. - The chosen projects include four in Humboldt County, three in Lake County, and two in Marin County, with four serving tribal communities. - These microgrids will provide energy resilience to nearly 9,000 customers, including many with access and functional needs. - Selected projects will receive between $1 million and $6 million based on their scoring from PG&E. - Generation resources will include various clean energy solutions such as solar and battery energy storage. - The MIP is a $200 million competitive grant program approved by the California Public Utilities Commission to fund clean-energy community microgrids. - Projects under the MIP can receive up to $14 million in funding for a multi-customer community microgrid. - More information and application details for the second wave of funding can be found on PG&E's website. - PG&E serves over sixteen million people across 70,000 square miles in Northern and Central California.

COMPANIES

Pacific Gas and Electric Company, Southern California Edison, San Diego Gas and Electric

TAGS

Power

RWE expands partnership with GE Vernova to secure U.S.- made components for two energy projects

DETAILS

- RWE has chosen American manufacturer GE Vernova to provide over 100 domestically produced wind turbines for energy projects in West Texas. - The partnership supports the commitment to advancing America's manufacturing and energy dominance through collaboration with leading U.S. companies. - RWE's investment aims to increase domestic energy production, supporting demand growth and generating new economic activity and job creation. - RWE is expanding homegrown energy capacity near Big Spring, Texas, with strategic investments to meet the demands of the state's booming manufacturing and technology sectors. - The projects involve repowering the 127 MW Forest Creek wind farm and constructing the 181 MW Honey Mesquite project, providing a total of 308 MW of new and upgraded power capacity. - Both projects will utilize GE Vernova's domestically produced wind turbine technology, reinforcing RWE's commitment to support U.S. manufacturing. - GE Vernova will supply 109 state-of-the-art 2.82 megawatt wind turbines for the projects. - Onsite construction at Forest Creek is underway, modernizing the facility for an additional 30 years of operations. - The project includes decommissioning original components and constructing new foundations for the GE Vernova turbines. - RWE is partnering with Wanzek Construction, Inc. to manage the recycling and repurposing of decommissioned materials. - Construction of the Honey Mesquite wind farm is expected to start later this year, with operations beginning in late 2026. - The two projects will create hundreds of jobs during peak construction times and contribute millions in economic activity to rural West Texas. - Since 2007, RWE has invested $9 billion in Texas, starting with the Forest Creek wind farm. - RWE is committed to long-term economic benefits for communities hosting its facilities, ensuring job opportunities and tax revenues for local services. - The upgraded Forest Creek and Honey Mesquite projects are expected to generate approximately $60 million in tax revenue for local counties, enhancing their financial support for essential services. - RWE is a prominent renewable energy company in the U.S. with over 15 years of experience in developing and operating renewable facilities. - The company has a workforce of around 2,000 in the U.S. dedicated to the clean energy transition and developing innovative energy solutions. - RWE Clean Energy is the third-largest operator of onshore wind, solar, and battery storage in the U.S. - RWE Offshore Wind Holdings is the only U.S. developer with offshore wind lease areas on all three coasts, investing heavily in expanding its generation portfolio in the country.

COMPANIES

RWE, GE Vernova, Wanzek Construction, Inc., MasTec Renewables

TAGS

Wind

JetBlue Marks First Regular Supply of Sustainable Aviation Fuel (SAF) for Commercial Air Travel in New York

DETAILS

- JetBlue and its fuel partners have marked the first regular supply of sustainable aviation fuel for commercial air travel in New York at John F. Kennedy International Airport. - This supply is part of a 12-month agreement with World Fuel Services for at least 1 million gallons of neat sustainable aviation fuel from Valero Marketing and Supply Company. - JetBlue’s sustainable aviation fuel supply is supported by corporate partners who help cover the cost premium over traditional jet fuel. - An additional 4 million gallons of neat sustainable aviation fuel is possible under the terms of the deal with the backing of corporate partners. - JetBlue's chief financial officer highlighted the importance of incorporating sustainable aviation fuel into their flights to help decarbonize the aviation industry. - The fuel is produced by Diamond Green Diesel LLC, blended with conventional jet fuel, and is delivered through existing infrastructure to be used by JetBlue at JFK. - Blended sustainable aviation fuel can lower lifecycle greenhouse gas emissions by approximately 80% compared to conventional jet fuel. - World Fuel Services aims to enhance the supply network for sustainable aviation fuel on the U.S. East Coast through this collaboration. - The delivery of sustainable aviation fuel in New York was explored in a 2021 study by the Port Authority and the National Renewable Energy Lab. - The successful delivery of sustainable aviation fuel has already been demonstrated at LaGuardia Airport and through a transatlantic flight fueled by sustainable aviation fuel at JFK. - Port Authority leadership expressed pride in collaborating with JetBlue to promote sustainable air travel. - The Port Authority is committed to achieving net-zero emissions by 2050 and encourages partnerships to advance sustainability goals. - Expanding the sustainable aviation fuel market requires public and private collaboration along with federal and state incentives. - JetBlue has doubled its sustainable aviation fuel procurement year-over-year since 2020 and has other sustainability initiatives like improved aircraft efficiency. - JetBlue is known for low fares and exceptional service, operating flights to over 100 destinations.

COMPANIES

JetBlue, World Fuel Services, World Kinect, Valero Marketing and Supply Company, Valero Energy Corporation, Diamond Green Diesel LLC, Darling Ingredients Inc., Port Authority of New York and New Jersey

TAGS

SAF

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