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Showing results for MEWBOURNE OIL COMPANY, a Texas Corporation
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...As a torrent of consolidation washes over the global oil and gas industry, three secretive, family-owned Texas oil companies have been thrust into the spotlight....
...Alongside CrownRock and Mewbourne Oil, it grew to become one of the leading private operators in the country....
...Enter Mewbourne Oil, Endeavor Energy Resources and CrownRock — all secretive, family-run operations in America’s oil-rich Permian Basin of Texas and New Mexico, and all highly sought-after acquisition targets...
...Looking at it another way, here are some stats (courtesy of Wood Mackenzie): Ten companies will now control more than 6.4mn barrels of oil equivalent a day of the Permian’s 12.1mn boe/d of overall output...
...Alongside rivals Endeavor Energy Resources and Mewbourne Oil, CrownRock has long been viewed as a prime target for bigger groups looking to scale up their operations in the oilfield....
...Alongside rivals Endeavor Energy Resources and Mewbourne Oil, it has long been viewed as a prime target for bigger groups looking to scale up their operations in the oilfield....
...There is so much natural gas in west Texas that prices in March turned negative....
...The rivalry between ExxonMobil and Chevron has plumbed a new depth. On Monday, securities filings revealed a hang-up in Chevron’s $60bn stock deal to acquire smaller rival Hess Corporation....
...Then, a mere 10 hours before the bankruptcy filing, a company lawyer changed the address of the shell corporation to a post office box in Houston....
...Shortly after Texas pioneered the first US ESG blacklist in late 2022, a big investor in education in the oil-producing state pumped $300mn into a fund designed to subsidise the global energy transition...
...US oil major ExxonMobil in January sued two small shareholders to stop their climate change petition from going to a vote before the company’s investors at its annual general meeting....
...The move has been led by Saudi Arabia, which requires a high oil price in order to help pay for its big spending programmes, for instance on new cities or football....
...A report released by Carbon Tracker yesterday found the largest oil and gas companies were “way off track” from their Paris climate targets....
...On Monday a Texas judge rejected the claim and said that Souki and his guarantors still owed “at least” $100mn to the secured parties....
...He convinced a Houston jury that his client Pennzoil had been cheated after Texaco (by then a New York company) had “tortiously interfered” in Pennzoil’s signed deal to buy rival Getty Oil....
...Brent crude, the international benchmark, rose 1.3 per cent to $90.96 a barrel while West Texas Intermediate, its US counterpart, added 1.6 per cent to $86.36 a barrel....
...West Texas Intermediate crude settled at $78 a barrel on Tuesday....
...West Texas Intermediate, the US marker, rallied from similar weakness to end flat at $85.64 per barrel....
...for large corporations thanks in part to a transparent corporate law regime, years of legal precedent and a community of lawyers....
...The company enlisted a legal team that includes David Woodcock, the former head of the SEC’s Texas office, and Noel Francisco, a former solicitor-general in the Donald Trump administration....
...So have the three big privately held groups — Endeavour Energy Resources, Mewbourne Oil and CrownRock — which each have large footprints in the basin....
...The company is developing a production unit with TotalEnergies in Texas, which stands to benefit from subsidies in the US’s Inflation Reduction Act....
...Jamail had convinced a Houston jury that his client Pennzoil had been cheated after Texaco (by then a New York company) had “tortiously interfered” in Pennzoil’s signed deal to buy rival Getty Oil....
...“ESG efforts have targeted Texas’ oil and gas economy,” said Aaron Kinsey, chair of the state board of education....
...There is no change to our plans, the suit is continuing,” the Texas-based company said in a statement. Companies rarely go to court to block shareholder motions....
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