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US ENERGY UPDATE | May 30, 2024 View this email in your browser
Big Oil’s Latest Megadeal Shows Industry’s US Premium
ConocoPhillips and Marathon Oil Corporation announced today that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 billion, inclusive of $5.4 billion of net debt. Under the terms of the agreement, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock, representing a 14.7% premium to the closing share price of Marathon Oil on May 28, 2024, and a 16.0% premium to the prior 10-day volume-weighted average price.
The Solar Breakthrough That Could Help the U.S. Compete With China
The new technology comes from an Israeli startup that promises to simplify one of the most cumbersome steps in solar manufacturing and cut costs by reducing the amount of silver needed to capture sunlight on the panels.
How to Help the Texas Grid With a Transmission System
To protect the state’s economic future, fortify the grid, and keep electricity bills from skyrocketing, it’s time to invest in transmission improvements that can deliver the clean electricity Texans need and want.
What’s Up With Delays on Projects on Federal Lands?
Utah is also home to an underground field laboratory project called FORGE, which has attracted research partners from across the globe and is led by the University of Utah’s Energy & Geoscience Institute.
Florida Moves to Repeal Plan to Buy or Produce More Renewable Energy
In a post last week on the social media platform X, DeSantis said state officials are “restoring sanity in our approach to energy and rejecting the agenda of the radical green zealots.”
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