Author: Emily Burleson

The company’s assets in Russia were valued at just over $4 billion, according to Exxon Mobil’s most recent annual report.

One executive called it the first bold step toward realizing the Houston carbon capture hub concept Exxon Mobil first pitched one year ago.

The combined company bills itself as the only “pure-play” midstream company operating in the Delaware Basin.

“I think all the basins are facing the same challenges,” Crestwood Equity Partners LP founder and CEO Bob Phillips said.

The Houston-based investor said he hopes to see Newpark sell its drilling fluids business, which failed to turn a profit in 2021.

Other partners in the Australian joint venture include Origin Energy and Sinopec Ltd.

“If Covid hadn’t hit, we might have actually been successful.”

The company also moved its office much closer to the Energy Corridor, subleasing space from a larger oil field services firm.

The East Texas plant would be the first of 12 advanced biorefineries that USA BioEnergy plans to build, according to the company.

“Even though we couldn’t have prevented the outcome of Winter Storm Uri, it woke up every stakeholder in the market,” said Don Whaley, OhmConnect Energy’s Texas president.