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Friday, 10 July 2026

77 briefs so farlast update 18:51 UTC

Key points

  • Shell Sees Flat Global LNG Trade in 2026 on Hormuz Uncertainty.
  • Low-carbon sources supplied all of 2025's new electricity, Energy Institute review finds.
  • Paris court orders TotalEnergies to fold customer emissions into climate plan.
  • India Targets Oil Supply Diversification and Month-Long Strategic Reserves.
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Markets

Sable Offshore Launches USD 400 Million Stock and Convertible Notes Offering

Sable Offshore Corp. announced plans to raise up to USD 400 million through concurrent public offerings of common stock and convertible senior notes, according to Offshore Engineer OEDigital. The company said the proceeds would refinance existing debt and strengthen its balance sheet.

The offering splits into USD 100 million of common stock and USD 300 million in convertible senior notes due 2031, according to Offshore Engineer OEDigital.

Underwriters will hold 30-day options to buy up to an additional USD 15 million of common stock and USD 45 million in notes to cover over-allotments, according to Offshore Engineer OEDigital.

The convertible notes will be senior unsecured obligations maturing July 1, 2031, unless earlier redeemed, repurchased or converted, according to Offshore Engineer OEDigital.

Sable will have the option to redeem the notes beginning in July 2029, according to Offshore Engineer OEDigital, subject to conditions including its share price exceeding 175% of the conversion price for a specified period.

J.P. Morgan is serving as sole book-running manager for both the common stock and convertible notes offerings, according to Offshore Engineer OEDigital.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

An offshore oil production platform standing in open ocean under overcast skies, representing an energy company's financial activity.
Photo: Gildo Cancelli / Pexels (opens in a new tab)

Markets

PJM Opens Capacity Auction for 2028/2029 Delivery Year

PJM Interconnection opened the bidding window on June 30 for its capacity auction covering the June 2028 to May 2029 Delivery Year, according to PJM Inside Lines.

The bidding window will close on July 7, with results reported on July 14 after 4 p.m. Eastern, according to PJM Inside Lines.

The capacity market, called the Reliability Pricing Model, secures power supply resources to meet predicted energy demand ahead of the delivery year, according to PJM Inside Lines.

Source: insidelines.pjm.com (opens in a new tab)1 sourcePermalink

Markets

Enverus Buys Four PDS Energy Information Exchange Platforms

Enverus has bought four exchange platforms from PDS Energy Information, according to World Oil, taking on tools that handle completions coordination, well data sharing, production reporting and produced water logistics in the U.S. upstream sector.

The transaction covers four named platforms, World Oil reported. They are the Frac Interference Exchange, the Well Data Exchange, the Production Data Exchange and AquaTrade. The purchase price was not disclosed.

Enverus said the PDS network connects nearly 800 industry participants and moves an estimated 80% of U.S. completions, drilling and production data.

More than 400 operators use the Frac Interference Exchange, according to World Oil. Through it, companies line up hydraulic fracturing schedules, flag frac-hit risks and manage temporary shut-ins across shared operating areas.

"Adding these platforms to the networks Enverus already operates is a natural step," said Manuj Nikhanj, chief executive officer of Enverus.

The exchange services will keep running while their features move onto the Enverus platform, the company said.

Source: worldoil.com (opens in a new tab)1 sourcePermalink