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(WO) – Diversified Energy has completed its previously announced acquisition of privately held Canvas Energy, adding a sizeable operated position in central Oklahoma and increasing the company’s daily production by roughly 13%.  The $550 million deal includes operated producing assets and approximately 1.6 million net acres across the state. Diversified said the assets currently produce about 24 MMboed and include an inventory of development locations alongside proved reserves of roughly 200 MMboe with a PV-10 value of about $690 million. To finance the transaction, Diversified closed a $400 million asset-backed securitization (ABS XI) structured through a master trust…

Nigeria’s state oil company, the Nigerian National Petroleum Company (NNPC), has reported it posted a net profit of 5.4 trillion naira ($3.6 billion) in 2024, good for a 64% jump from a year earlier as the pivotal industry continues to make a comeback.“The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce,” Bashir Bayo Ojulari, NNPC Group Chief Executive, told analysts.Nigeria has been struggling to meet its OPEC+ quota in recent years, thanks to years of underinvestment coupled with rampant theft and pipeline vandalism. Africa’s largest oil producer saw crude output average ~1.5…

(BOE Report) – NextDecade Corp said on Monday it has started the U.S. regulatory pre-filing process to add a sixth liquefaction unit and an extra marine berth at its Rio Grande liquefied natural gas project in Texas, with a full application expected in 2026. The U.S. LNG sector has been rapidly expanding after President Donald Trump lifted the moratorium on new export permits shortly after taking office in January. “With five trains already under construction and room to double capacity, we are focused on the next phase of growth,” CEO Matt Schatzman said. NextDecade expects to complete the first liquefaction…

(Bloomberg) – ADNOC will maintain its investments at $150 billion over the next five years as it targets growth in production capacity at home and expands internationally. The company’s board approved the spending plan that’s in line with the previous layout that was announced three years ago. Since then, Abu Dhabi’s biggest oil producer has carved out an international investment business called XRG that is scouring the globe for deals. XRG has boosted its enterprise value to $151 billion from $80 billion since it was set up about a year ago, ADNOC said in a statement. The unit, which this…

Anthropic is once again raising the bar in the AI race.On Monday, the company unveiled Claude Opus 4.5, which it calls its most advanced AI model yet, just three months after its previous release.Anthropic says the latest version delivers major improvements in generating computer code and workplace documents, such as Excel spreadsheets and PowerPoint presentations. It also includes new capabilities for creating more sophisticated, long-running AI agents.”It’s the most intelligent model in the world for the things that we really care about,” Alex Albert, Anthropic’s head of developer relations, told Business Insider.The launch completes the Claude 4.5 family, following recent…

Did you hire the right talent? For HR pro Rachel Lockett, it comes down to one question.Lockett worked as an HR leader at major tech companies, including Stripe and Pinterest, before founding her own executive coaching consultancy. On a recent episode of “Lenny’s Podcast,” Lockett gave a peek behind the curtain for her talent strategy.It’s difficult for managers to accept that their talent is underperforming, Lockett said. She suggests asking: “Would you enthusiastically rehire this person for the same role?”Lockett always asked that question at Stripe, she said.”When the answer is no to that, no matter how many difficult conversations…

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Staatsolie has launched a new Open-Door Offering that makes roughly 60% of Suriname’s offshore acreage available for exploration, marking one of the country’s most significant steps to attract new investment in the Guiana basin. The initiative, announced Monday, allows qualified exploration and production companies to apply for acreage across shallow-water and deepwater zones, with the option to propose their own work programs. Companies may choose between a Production Sharing Contract (PSC) or a Joint Study Agreement/Technical Evaluation Agreement (JSA/TEA). Staatsolie will publish acreage selections online, triggering a 90-day window for competing proposals. The Guiana basin has become one of the…

A sanctioned Russian shadow fleet tanker has reached Venezuela’s waters after evading a U.S. destroyer. Previously, Bloomberg reported the  sanctioned panamax carrier Seahorse unsuccessfully attempted to approach Venezuela three times, with the U.S. destroyer USS Stockdale blocking its path each time.Seahorse has been used to transport naphtha, a lighter fuel distillate, from Russian refineries to Venezuela. The vessel has also been previously used in the Iran to Venezuela trade to carry distillate products.Built in 2004, the 70,426-dwt tanker falsely claimed to belong to the Comoros. The EU sanctioned the tanker in May before the UK followed suit in July. The…

U.S. President Donald Trump walks as workers react at U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025. Leah Millis | ReutersPresident Donald Trump has appointed two Department of Commerce officials to oversee U.S. Steel under the golden share agreement reached with Japan’s Nippon, according to a letter posted Monday in the Federal Register. Trump approved U.S. Steel’s controversial acquisition by Nippon in June after securing veto rights over key business decisions under a golden share arrangement. U.S. Steel stopped trading on the New York Stock Exchange that same month after the acquisition was completed. Trump holds…