http://www.worldoil.com WorldOil Devon Energy sets net zero 2050 emissions targets, ESG performance goals https://www.worldoil.com/news/2021/6/21/devon-energy-sets-net-zero-2050-emissions-targets-esg-performance-goals Devon Energy announced it is establishing new environmental performance targets focused on reducing the carbon intensity of its operations, minimizing freshwater use, and engaging constructively with its value chain. Boycott Texas oil, and Texas will boycott you, says Gov. Abbott with new law https://www.worldoil.com/news/2021/6/15/boycott-texas-oil-and-texas-will-boycott-you-says-gov-abbott-with-new-law Governor Greg Abbott signed a bill into law on Monday banning state investments in businesses that cut ties with the oil and gas industry. The underlying message, according to one of the most powerful energy regulators in the state, is simple: Boycott Texas, and we’ll boycott you. Shell said to consider sale of largest oil field in the U.S., valued at up to $10 billion https://www.worldoil.com/news/2021/6/14/shell-said-to-consider-sale-of-largest-oil-field-in-the-us-valued-at-up-to-10-billion The potential sale could include all of Shell’s 260,000 acres in the Permian Basin, Reuters reported citing unidentified people familiar with the matter. Shell declined to comment on Reuters’ report. Oxy sells non-core Permian acreage for $508 million, reaffirms 2021 production guidance https://www.worldoil.com/news/2021/6/10/oxy-sells-non-core-permian-acreage-for-508-million-reaffirms-2021-production-guidance The transaction, which is expected to close in the third quarter of 2021, includes approximately 25,000 net acres in the Southern Delaware Basin in Texas with current production of approximately 10,000 barrels of oil equivalent per day from about 360 active wells. KKR plans more shale acquisitions after $5.5B Contango Oil and Gas deal https://www.worldoil.com/news/2021/6/8/kkr-plans-more-shale-acquisitions-after-55b-contango-oil-gas-deal KKR is bucking the trend among private-equity peers that have been unloading shale investments after back-to-back oil market busts. The move may signal a bullish turn with U.S. crude prices heading for the best annual performance since 2015. Fewer than 20% of U.S. shale oil jobs held by women, says trade group https://www.worldoil.com/news/2021/6/8/fewer-than-20-of-us-shale-oil-jobs-held-by-women-says-trade-group Gender diversity remains a challenge in the U.S. shale patch, where fewer than two of every 10 jobs are held by women, according to the latest study by a trade group representing the hired hands of the oil field. KKR’s Independence Energy, Contango Oil and Gas aim for $5.5B all-stock merger https://www.worldoil.com/news/2021/6/8/kkr-s-independence-energy-contango-oil-gas-aim-for-55b-all-stock-merger KKR and Contango are doubling down on investing in exploration and production companies as many in the sector seek to recover from years of poor returns amid the shale boom and bust. The combination is said to allow the merged company to reach greater scale, boost access to capital and drive down the cost of production. BP CEO sees lasting trends in global oil demand growth, limited U.S. crude output https://www.worldoil.com/news/2021/6/7/bp-ceo-sees-lasting-trends-in-global-oil-demand-growth-limited-us-crude-output Energy giant BP sees a strong recovery in global crude demand and expects it to last for some time, with U.S. shale production being kept in check, according to CEO Bernard Looney. Rising steel costs bring inflation woes to U.S. shale plays https://www.worldoil.com/news/2021/6/4/rising-steel-costs-bring-inflation-woes-to-us-shale-plays Costs for everything from labor to diesel to steel have climbed in the oil field this year as explorers return to work following last year’s pandemic-driven crash in crude prices. Steel prices for the drill pipe used in new wells could rise about 50% in 2021, Citigroup said. Cabot-Cimarex merger puzzles both analysts and investors https://www.worldoil.com/news/2021/5/24/cabot-cimarex-merger-puzzles-both-analysts-and-investors The merger of Cabot Oil and Gas Corp. with Cimarex Energy Co. announced Monday has confounded investors and analysts, leaving them to question the logic behind a tie-up that the companies say will increase diversification. Cimarex is mostly an oil explorer in Texas and Oklahoma, while Cabot is focused on natural gas drilling in the Marcellus shale basin in Appalachia.