@import url(‘https://fonts.googleapis.com/css2?family=Inter:[email protected]&display=swap’); a { color: var(–color-primary-main); } .ebm-page__main h1, .ebm-page__main h2, .ebm-page__main h3, .ebm-page__main h4, .ebm-page__main h5, .ebm-page__main h6 { font-family: Inter; } body { line-height: 150%; letter-spacing: 0.025em; font-family: Inter; } button, .ebm-button-wrapper { font-family: Inter; } .label-style { text-transform: uppercase; color: var(–color-grey); font-weight: 600; font-size: 0.75rem; } .caption-style { font-size: 0.75rem; opacity: .6; } #onetrust-pc-sdk [id*=btn-handler], #onetrust-pc-sdk [class*=btn-handler] { background-color: #c19a06 !important; border-color: #c19a06 !important; } #onetrust-policy a, #onetrust-pc-sdk a, #ot-pc-content a { color: #c19a06 !important; } #onetrust-consent-sdk #onetrust-pc-sdk .ot-active-menu { border-color: #c19a06 !important; } #onetrust-consent-sdk #onetrust-accept-btn-handler, #onetrust-banner-sdk #onetrust-reject-all-handler, #onetrust-consent-sdk #onetrust-pc-btn-handler.cookie-setting-link { background-color: #c19a06 !important; border-color: #c19a06 !important; } #onetrust-consent-sdk .onetrust-pc-btn-handler { color: #c19a06 !important; border-color: #c19a06 !important; } <!–> Verde Clean Fuels Inc., Houston, has suspended development of a natural gas-to-gasoline (GTG) project in the Permian basin. The company cited “changing market conditions driven by increasing demand for natural gas,” in the region. ]–> <!–> –><!–> –> June 5, 2024 In 2024, Verde Clean Fuels and Midland-based Diamondback Energy Inc. subsidiary Cottonmouth Ventures LLC agreed to a joint development of a GTG plant in Martin County, Tex., in the Permian’s Midland basin. The project was originally slated to combine Verde’s technology with a feedstock of stranded or otherside-flared associated natural from Diamondback’s Permian basin operations for commercial-scale production of almost 3,000 b/d of fully finished reformulated blend stock for oxygenate blending (RBOB) gasoline. A front-end engineering and design (FEED) study was completed in December 2025. Verde’s chief executive officer, Ernest Miller, said knowledge collected from the work completed “will continue to be useful as we explore other opportunities to deploy our technology.” He said the company will devote resources toward other opportunities “in regions where natural gas is stranded or flared without access to a higher value outlet to market.”

Oil, fundamental analysis Crude prices were up-and-down this week as traders eyed both optimistic and pessimistic signs regarding the proposed US/Iran talks held Friday. A large drop in crude and distillate inventories were the main fundamental factors noticed. Despite the rollercoaster ride, US prices remained above the key $60/bbl level. WTI had a High of $65.55/bbl on Wednesday with a weekly Low of $61.10 on Tuesday. Brent crude’s High was $69.75/bbl on Wednesday while its Low was $65.75 Monday. Both grades settled lower week-on-week. The WTI/Brent spread has tightened to ($4.50). The week started with a bearish tone as US President Trump spoke with optimism about the upcoming US/Iran talks. However, later in the week, the Iranian government objected to the specific topics the US wants to discuss beyond their nuclear developments and the meeting appeared doomed. The two sides did decide to follow through with the planned meeting Friday with Iranian officials labeling the meeting as a ‘very good start.’ Meanwhile, the Iranian Revolutionary Guard Corps (IRGCC) attempted to stop a US-flagged vessel in the Strait of Hormuz and sent drones to a US Navy ship in the area. Both attempts were thwarted by US naval forces. Some Very Large Crude Carriers (VLCC) are said to have been increasing their normal speeds for faster passage through the Strait of Hormuz while it’s still open. It is estimate that slightly more than 25% of global oil supplies move through the Strait. Russia is now relying heavily on its relationship with China to buy its oil exports after the US offered India a deal whereby tariffs could be cut if India halts buying Russian Urals. Additionally, Indian refiners would have access to Venezuelan exports. No official action has yet to be taken by the Indian government in terms of such a

@import url(‘https://fonts.googleapis.com/css2?family=Inter:[email protected]&display=swap’); a { color: var(–color-primary-main); } .ebm-page__main h1, .ebm-page__main h2, .ebm-page__main h3, .ebm-page__main h4, .ebm-page__main h5, .ebm-page__main h6 { font-family: Inter; } body { line-height: 150%; letter-spacing: 0.025em; font-family: Inter; } button, .ebm-button-wrapper { font-family: Inter; } .label-style { text-transform: uppercase; color: var(–color-grey); font-weight: 600; font-size: 0.75rem; } .caption-style { font-size: 0.75rem; opacity: .6; } #onetrust-pc-sdk [id*=btn-handler], #onetrust-pc-sdk [class*=btn-handler] { background-color: #c19a06 !important; border-color: #c19a06 !important; } #onetrust-policy a, #onetrust-pc-sdk a, #ot-pc-content a { color: #c19a06 !important; } #onetrust-consent-sdk #onetrust-pc-sdk .ot-active-menu { border-color: #c19a06 !important; } #onetrust-consent-sdk #onetrust-accept-btn-handler, #onetrust-banner-sdk #onetrust-reject-all-handler, #onetrust-consent-sdk #onetrust-pc-btn-handler.cookie-setting-link { background-color: #c19a06 !important; border-color: #c19a06 !important; } #onetrust-consent-sdk .onetrust-pc-btn-handler { color: #c19a06 !important; border-color: #c19a06 !important; } Perenco Congo installed the new Kombi 2 platform on Kombi-Likalala-Libondo II (KLL II) field offshore Congo-Brazzaville. The new mobile offshore production unit has improved water and effluent treatment, increased associated gas recovery, and 8 MW of electricity generated by two gas turbines. Total investment in the KLL II project was over $200 million. Kombi 2 will host a six-well drilling campaign starting in 2026, with the aim of increasing production, extending the life of the field. Connection work is currently under way, with commissioning scheduled for early March 2026.

EnQuest PLC was awarded a 4-year extension to the Block 12W Production Sharing Contract by PetroVietnam. This extension runs to July 2034 from the original contract end date of November 2030, allowing the operator to access prospectivity across three gas discoveries and several additional targets. EnQuest aims to initiate plans to progress discovered resources into reserves. Since completion of the acquisition of Block 12W from Harbour Energy in July 2025, EnQuest completed three proactive well interventions from Chim Sáo and Dua fields that boosted gross fourth-quarter 2025 production to 10,400 boe/d (5,500 boe/d net to EnQuest). Block 12W is comprised of three producing oil and gas fields; Chim Sáo, Chim Sáo North West (CSNW), and Dua, all in the the Nam Con Son basin, about 400 km south west of Vung Tau, Vietnam. Developed via a single wellhead platform, Chim Sáo and CSNW oil production is exported via the Lewek Emas floating production storage and offloading (FPSO) vessel, and gas is exported by pipeline to Vung Tau near Ho Chi Minh City. Chim Sáo currently has 14 active oil producers and seven water injectors. CSNW is developed via a single injector and producer pair. Dua oil and gas field was developed as a subsea tie-back to Chim Sáo. Its production is via three subsea oil producers. EnQuest is operator of the block (53.125%) with partners Bitexco (31.875%) and PetroVietnam (15%).

@import url(‘https://fonts.googleapis.com/css2?family=Inter:[email protected]&display=swap’); a { color: var(–color-primary-main); } .ebm-page__main h1, .ebm-page__main h2, .ebm-page__main h3, .ebm-page__main h4, .ebm-page__main h5, .ebm-page__main h6 { font-family: Inter; } body { line-height: 150%; letter-spacing: 0.025em; font-family: Inter; } button, .ebm-button-wrapper { font-family: Inter; } .label-style { text-transform: uppercase; color: var(–color-grey); font-weight: 600; font-size: 0.75rem; } .caption-style { font-size: 0.75rem; opacity: .6; } #onetrust-pc-sdk [id*=btn-handler], #onetrust-pc-sdk [class*=btn-handler] { background-color: #c19a06 !important; border-color: #c19a06 !important; } #onetrust-policy a, #onetrust-pc-sdk a, #ot-pc-content a { color: #c19a06 !important; } #onetrust-consent-sdk #onetrust-pc-sdk .ot-active-menu { border-color: #c19a06 !important; } #onetrust-consent-sdk #onetrust-accept-btn-handler, #onetrust-banner-sdk #onetrust-reject-all-handler, #onetrust-consent-sdk #onetrust-pc-btn-handler.cookie-setting-link { background-color: #c19a06 !important; border-color: #c19a06 !important; } #onetrust-consent-sdk .onetrust-pc-btn-handler { color: #c19a06 !important; border-color: #c19a06 !important; } <!–> Vår Energi and its partner Kistos Energy drilled a dry well at the Prince Updip prospect in the Balder area in the North Sea. The well has been permanently plugged. Well 25/8-C-23 D, the 13th exploration well in production license 027, was drilled from the Ringhorne platform, just over 200 km west of Stavanger, to a vertical depth of 2,318 m subsea. It was terminated in basement rock. Water depth at the site is 129 m. ]–> <!–> –><!–> –> March 30, 2021 <!–> –><!–> –> June 28, 2021 <!–> Balder and Ringhorne Øst fields are contained within the license, where exploration activity in 2021—wells 25/8-20 S, B, and C—proved hydrocarbons at two levels. The objective of the well drilled by Vår Energi was to prove petroleum in the Prince Updip prospect in the Skagerrak formation in the Upper Triassic. The secondary exploration target was to prove petroleum in basement rock. The well encountered the Skagerrak formation with a thickness of about 127 m, 18 m of which were sandstone layers with moderate to good reservoir quality. Certain sandstone layers had hydrocarbon shows. The well drilled about 30

The directors of Expand Energy Corp. have thanked chief executive officer Nick Dell’Osso for his services and installed chairman Mike Wichterich as interim leader while they search for a successor. In a statement, Expand said the 49-year-old Dell’Osso—who had led the company since October 2021 (when it was still Chesapeake Energy) and steered it through the 2024 merger with Southwestern Energy—also has resigned his seat on the company’s board. Dell’Osso will, however, be an external advisor to the company during a transition period. In a filing with the US Securities and Exchange Commission, Expand said it is working on a severance agreement with Dell’Osso, whose exit is being deemed a termination without cause. “On behalf of the board, I want to thank Nick for his leadership and many contributions since first joining the company in 2008,” Wichterich said in the statement. “During his tenure as CEO, the company has grown from a $5 billion business to a $26 billion investment-grade enterprise included in the S&P 500 Index. We are grateful for his leadership in setting a strong foundation for our future.” Wichterich was interim chief executive of the former Chesapeake before Dell’Osso took over in 2021 and served as executive chairman of the new Expand through the end of 2022. He is the founder of Three Rivers Operating Co. LLC, an exploration and production company focused on the Permian basin. In early trading Feb. 9, shares of Expand (Ticker: EXE) were down nearly 6% to about $103.80. That move down knocked about $1.6 billion from the market capitalization of Expand, which now stands at roughly $24.7 billion. In announcing Dell’Osso departure, Expand’s board said nothing has changed about its operating and spending forecasts for fourth-quarter 2025, results of which will be released Feb. 17. Another major change is the company’s plan