Saturday, 7 November 2026

Meyer Werft is setting up the organizational and legal framework for its offshore converter business, according to Offshore Engineer OEDigital.

The group plans to consolidate all activities in the new business segment into a separate company, NEPTUN Offshore GmbH & Co. KG, in the coming weeks, Offshore Engineer OEDigital reported. The new entity will be a wholly owned subsidiary of MEYER WERFT GmbH.

NEPTUN Offshore will also hold a 50% stake in the Rostock-based joint venture NEPTUN SMULDERS Offshore Renewables.

Devon Energy Corp. has concluded a strategic review of its portfolio following its acquisition of Coterra Energy and an agreement to sell its Eagle Ford assets, according to Oil & Gas Journal.

The Eagle Ford divestiture, a planned sale to Crescent Energy Co., is valued at USD 4.2 billion. With that deal struck, Devon does not plan to sell additional assets or the entire company in the near future, though it remains open to talking to potential bidders, Oil & Gas Journal reported.

Preliminary capital spending plans for Devon's retained assets allocate USD 5.3 billion next year, with three-quarters directed to the Permian basin.

Diversified Energy Company reported adjusted EBITDA of USD 256 million for the quarter ended September 30, 2026, according to Kalkine Media. Average daily production reached 1,189 million cubic feet equivalent per day, or about 198,000 barrels of oil equivalent per day, during the third quarter, Proactive Investors reported.

The company expects its planned acquisition of Birch Resources to close in the fourth quarter of 2026, according to Proactive Investors. The transaction is expected to create a top-15 publicly listed independent oil and gas company in the United States based on production, while establishing a vertically integrated position in the Permian Basin, the outlet reported.

Circularity Fuels, based in Redwood City, California, raised USD 7 million in seed funding co-led by DCVC and Trucks Venture Capital, according to Pulse2. The round brings the company's total funding, including grants, to approximately USD 17 million.

The capital will support commercialization of Circularity Fuels' technology for converting dairy manure biogas into sustainable aviation fuel (SAF), Pulse2 reported. The company plans to complete engineering designs for a commercial facility with production capacity of 75 barrels per day and pursue airline fuel purchase agreements needed to support construction.

Norges Bank Investment Management paid USD 300 million for a direct 10% interest in Aypa Power, marking the fund manager's first direct investment in battery storage, according to ESG News.

The co-investment agreement was signed and completed on October 28, 2026. The deal values the stake at USD 300 million and represents a new asset class for Norges Bank Investment Management, which had not previously taken a direct position in battery storage.