Prairie Operating Co. said it has closed its $602.75 million acquisition of certain Denver-Julesburg Basin (DJ Basin) assets from Bayswater Exploration and Production and its affiliated entities, which strengthens its position “as a leading operator” in the basin. The acquisition boosts Prairie’s production by approximately 25,700 net barrels of oil equivalent per day (boepd), consisting of 69 percent liquids, the company said in a news release. It also adds 24,000 net acres to the company’s approximately 600 highly economic drilling locations and roughly 10 years of drilling inventory. The assets contribute 77.9 million barrels of oil equivalent (MMboe) in proved reserves with an estimated PV-10 value of $1.1 billion, Prairie said. With the expansion, Prairie said it anticipates a substantial uplift in its 2025 production, revenue, and adjusted EBITDA. Prairie said the transaction was funded through a combination of proceeds from a new issuance of series F convertible preferred stock to a single institutional investor, a common stock public offering, a draw on the company’s newly expanded $1 billion credit facility, and a direct issuance of common stock to Bayswater. Following the closing, Prairie has approximately 35.4 million shares of common stock outstanding. “This acquisition is a pivotal moment for Prairie, significantly expanding our operational footprint in the DJ Basin,” Prairie Chairman and CEO Edward Kovalik said. “By integrating these high-quality assets, we are materially enhancing our production profile, strengthening our financial position, and creating meaningful value for our shareholders. Prairie remains singularly focused on executing our strategic vision to become a premier high-growth, low-cost oil producer”. Prairie President Gary Hanna said, “The addition of the Bayswater Assets further establishes Prairie as a leading operator in the DJ Basin. These assets are a strong complement to our existing portfolio, and we remain focused on maximizing operational efficiencies, optimizing production, and

Norway has delivered critical energy equipment for Ukraine via the United Nations Development Program (UNDP) to help ensure uninterrupted energy supply amid the war. As part of the aid, state-owned oil and gas company Naftogaz Group received gas-fired generator sets with a combined capacity of 150 megawatts. These will provide backup power and heating for critical infrastructure and residential areas, Naftogaz said in an online statement. “This support would strengthen the energy security of two major Ukrainian cities and provide electricity and heat to over 500,000 residents of the Dnipropetrovsk region during the next heating season”, Naftogaz said. Its subsidiary JSC Ukrgasvydobuvannya also received equipment to enhance natural gas production. Meanwhile state-owned electricity transmission system operator NPC Ukrenergo received two 330-kilovolt autotransformers with a capacity of 200 megavolt-amperes. “This support from Norway is a vital lifeline, enabling us to strengthen our energy infrastructure and build resilience against future disruptions”, said Ukrainian Energy Minister German Galushchenko. Naftogaz said, “Norway and UNDP are working closely to restore Ukraine’s power system, combining Norway’s financial support with UNDP’s operational expertise”. Support under the collaboration includes the provision of generators and solar power plants, as well as power and heat for schools, hospitals and other critical facilities, according to Naftogaz. “The initiative has already benefited millions of Ukrainians by strengthening essential services like healthcare and education, modernizing the energy sector, and enabling businesses to operate with fewer interruptions”, the UNDP said separately. It said reconstruction for Ukraine’s energy sector needed an estimated $67.78 billion as of December 2024. “The regions with the largest estimated needs are Zaporizhzhia, Kharkiv, Dnipropetrovsk, Donetsk, Odesa, and Sumy oblast”, the UNDP said. “The attacks on the energy system have caused civilian suffering and general economic attrition. Immediate power outages have affected around 1.5 million people, disrupting heating, water supply and sanitation, public

The Engineering Construction Industry Training Board (ECITB) has announced a further £2 million investment in ‘skills hubs’ across the UK over the next two years. It is directing funds towards “industrial cluster hot spots” such as the north-east of Scotland, Teesside and the Humber, Scotland, South Wales and the Solent. This follows on from a previous £1m investment through the trade body’s Regional Skills Hub Funding initiative to increase training provider capacity and grow new entrant numbers into the engineering and construction industry (ECI) as it contends with skills shortages. ECITB’s cash has already been directed to the Humber region, Teesside, the north-east of Scotland and the wider UK, the organisation explained, as it plans to announce further projects to receive backing “shortly”. Andrew Hockey, CEO of ECITB, commented: “This extra investment will help further address skills shortages by enhancing training and assessment infrastructure and capabilities at both colleges and independent training providers located in Britain’s industrial heartlands that will directly increase the flow of trained workers into the industry.” This comes soon after an ECITB report, which found the oil and gas workforce is older than other sectors, and it is unlikely that young people will fill the gap left by retirees. © Supplied by ECITB/ Dave DodgeECITB CEO Andrew Hockey meeting Work Ready learners at SETA in Southampton. Photo by Dave Dodge. The ECITB recently worked with industry partners as part of the Net Zero Teesside cluster project, which received £478,000 funding last month. The funding will contribute to an immersive pipefitting, welding, mechanical and project-based training rig and includes enhanced pipefitting facilities. The joint venture between BP and Equinor recently faced criticism from MPs who claimed government investment of £21.7bn in “unproven technologies” was “risky”. One of the first businesses to secure funds from the initial £1m

BP Trinidad and Tobago (bpTT) is moving forward with the Ginger gas development project. Ginger is located approximately 50 miles off Trinidad’s southeast coast in water depths of less than 300 feet. Drilling at the first well started in January and is expected to resume in the fourth quarter, the company said in a news release. Ginger will become bpTT’s fourth subsea project and will include four subsea wells and subsea trees tied back to bpTT’s existing Mahogany B platform. First gas from the project is expected in 2027 and will make up one of the company’s 10 major projects expected to start up between 2025 and 2027. At peak, the development is expected to have the capacity to produce an average gas production of 62,000 barrels of oil equivalent per day (boepd), according to the release. The Ginger development and bpTT’s Cypre gas project, scheduled to start up this year, are part of bpTT’s strategy of maximizing production from existing acreage, developing capital-efficient projects that tie into existing infrastructure, it said. The project meets the company’s “expected returns from upstream projects” and is fully accommodated within its capital expenditure plans, it said. Further, bpTT reported exploration success at its Frangipani well. Drilling at the well identified multiple stacked gas reservoirs within the same geological structure. Options are currently being evaluated to move the discovery forward, the company stated. Frangipani is located east of the existing Mahogany field, approximately 50 miles off the southeast coast. The company has a 100 percent working interest in both Ginger and Frangipani. bpTT president David Campbell said, “I am very proud to announce these two milestones. With Frangipani, our objective was to prove that our continued progress in exploration and appraisal activity could unlock new fields and investment opportunities for the region. And the

In a statement posted on its site recently, the U.S. Department of the Interior (DOI) announced that it generated over $39 million in total receipts from oil and gas lease sales held in the first quarter of 2025. The Bureau of Land Management leased 34 parcels totaling 25,038 acres for $39,007,609 in total receipts for its first quarter of fiscal year 2025 oil and gas lease sales, the DOI noted in the statement. The organization highlighted that the Bureau of Land Management held oil and gas lease sales in Montana, North Dakota, New Mexico, Wyoming, and Nevada.  In a statement posted on its site on January 22, the Bureau of Land Management announced that its Montana-Dakotas State Office held a competitive oil and gas lease sale, “offering 13 parcels covering 1,324 acres in Montana and North Dakota”. “In total, 255 bids were received, with 13 parcels covering 1,324 acres leased, roughly 100 percent of the total acreage available. A total of $11,314,786 in high bids were received,” the Bureau said in that statement. A statement posted on the Bureau of Land Management’s site on February 21 announced that the Bureau’s New Mexico State Office leased seven parcels totaling 1,317.29 acres for $20,671,801 in total receipts for its quarterly oil and gas lease sale.  In another statement posted on its site on March 4, the Bureau said its Wyoming State Office leased four parcels totaling 2,443.11acres for $6,725,713 in total receipts for its quarterly oil and gas lease sale, and in a statement posted on its site on March 18, the Bureau said its Nevada State Office leased 10 parcels totaling 19,954 acres for $295,309 in total receipts for its quarterly oil and gas lease sale. “This quarter’s lease sales demonstrate Interior’s unwavering commitment to fostering American energy dominance, and we are grateful to those who

Shell PLC said Tuesday it had completed separate transactions to take over Singapore-based liquefied natural gas (LNG) trader Pavilion Energy Pte. Ltd. and divest its Energy and Chemicals Park in the Southeast Asian city-state. The British integrated energy company acquired all shares of Pavilion Energy from Carne Investments Pte. Ltd., an indirect subsidiary of Singaporean state-owned investor Temasek. “The acquisition includes Pavilion Energy’s portfolio of LNG offtake and supply contracts, regasification capacity, and LNG bunkering business, strengthening Shell’s position in the LNG market”, Shell said in an online statement. Pavilion has a “long-term” contracted supply of about 6.5 million metric tons per annum (MMtpa) and regasification capacity of around 2 MMtpa at National Grid Group’s Isle Grain LNG terminal in England, as well as regasification access in Singapore and Spain, Shell noted. Additionally Pavilion holds a time charter for 3 M-type, electronically controlled gas injection LNG vessels and 2 TFDE (tri-fuel diesel electric) vessels. Pavilion also has an LNG bunkering business, whose first vessel was deployed early 2024, Shell said. Shell’s purchase excluded Pavilion’s pipeline gas business in Singapore, which has been transferred to Temasek’s Gas Supply Pte. Ltd. The transaction also excluded Pavilion’s 20 percent stake in Tanzania’s Blocks 1 and 4. “The acquisition will be absorbed within Shell’s cash capital expenditure guidance”, Shell said. In Singapore, Shell, via its 2016 acquisition of BG Group PLC, already holds the first license to import LNG into the country and supplies nearly a quarter of national natural gas needs, according to the company. Shell aims to raise its LNG sales by 4-5 percent through 2030. Last year it sold 65.8 million metric tons of LNG, while it recorded 29.1 million metric tons of liquefaction volumes. ‘‘We want to become the world’s leading integrated gas and LNG business and the most customer-focused