Noah Brenner

Oil and gas companies have made a noticeable shift in their low-carbon spending, betting more money on technologies which better complement their core business operations. A rising share of spending is going toward carbon capture (CCS), hydrogen and renewable natural gas, according to Energy Intelligence's latest Low-Carbon Investment Tracker (LCIT). By the numbers, announced and approved low-carbon investments by oil and gas firms exceeded $100 billion in 2022, a more than 60% jump versus 2021.

Itochu secured its stake in the Oklahoma City-based independent as part of the $7.2 billion buyout of the company from the Shusterman family led by private equity players that included KKR, Crestview Partners and Natural Gas Partners. That deal has since soured as falling commodity prices hammered Samson and have left the company on the verge of bankruptcy.