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Public Capital

Rival Pressure Pumpers Keane, C&J Energy To Combine In All-Stock Merger

Rival Pressure Pumpers Keane, C&J Energy To Combine In All-Stock Merger

The merger of Keane Group with C&J Energy Services is expected to create the third largest pressure pumper in the U.S., behind only Halliburton and Schlumberger.

Exploration & Production

Righting The Ship In Southeast Asia

Repsol owns mineral rights in six development blocks in Malaysia. In 2017 the company’s net production in the country was 8.2 MMboe. (Source: Repsol)

As IOCs exit the area, regional operators look to stem the tide of declining production.

Sponsored Content

IndustryVoice: Providing Innovative Injection Well Solutions

WSP Industryvoice

WSP has provided a wide range of specialty well services to support injection, storage, geothermal energy and in-situ mining activities to numerous clients, including many Fortune 500 clients.

Pipelines

Pipeline Construction Projects: In Constant Demand

pipeline construction

Increasing unconventional-play takeaway capacity continues, as moving gas deeper into the U.S. Northeast and both oil and gas to foreign markets via the Gulf Coast are a work in progress.

Exploration & Production

Standing Tall, Growing Higher

This rig was working for Encino Acquisition Partners in Ohio’s Utica Shale last fall. (Photo by Ashley Unbehagen, courtesy of Oil & Gas Investor)

New pipelines in 2018 added much-needed takeaway capacity for the Appalachian Basin shale gas, ensuring continued growth in the region.

People

On The Move: New Hires, Appointments, Promotions

On the move

The latest new hires, appointments and promotions as well as new company office and facility locations and major mergers and acquisitions. 

Markets

What's Affecting Oil Prices This Week (June 17, 2019)?

Brent fell $0.19/bbl last week to average $61.57/bbl but with significant intra-week volatility.

Saudi Energy Minister Hopes To Balance Oil Market Before Next Year

Saudi Energy Minister Khalid al-Falih said on Saturday that he hopes oil producers will be able to balance the oil market before next year.

Having A Gas: Australia Dominates China’s LNG Supply

Aussies supply 53% of China’s LNG imports.

Canadian Oil Output Growth Forecast Halved To 1.4% Annually

Canada holds the world's third-largest crude reserves but its energy industry has struggled to recover from the 2014/15 global oil price crash.

Business

On The Money: Finding Your Footing In Energy Earnings Season

It’s sometimes hard to know exactly what drives an energy company’s stock price, even if you’re a CEO who knows which levers logically should deliver stock price performance.

Permian Basin Operator Legacy Reserves To Enter Chapter 11 Bankruptcy

Despite converting to a C-corp, Legacy Reserves has faced debt hurdles, which led the Midland, Texas-based oil and gas company to explore strategic alternatives.

Aker Solutions Appoints Ole Martin Grimsrud As CFO

Ole Martin Grimsrud has been appointed CFO of Aker Solutions, effective August 1, 2019. He replaces Svein Oskar Stoknes, who is taking over as CFO of Aker ASA on the same day.

Shell To Invest Up To $2.4 Billion In Mexican Deepwater Oil Projects

Mexico's oil regulator on June 13 approved exploration plans for four deepwater areas operated by Royal Dutch Shell , after it gave the green light to five others earlier this week, committing the oil major to invest at least $791 million.

Technology

Rival Pressure Pumpers Keane, C&J Energy To Combine In All-Stock Merger

The merger of Keane Group with C&J Energy Services is expected to create the third largest pressure pumper in the U.S., behind only Halliburton and Schlumberger.

CNOOC International Extends Maersk Jackup Charter

The option has an expected duration of approximately 100 days, which means the Mærsk Innovator is now firmly contracted until February 2020.

CGG Wins Johan Sverdrup Project Contract From Equinor

Subsurface Imaging, part of CGG’s Geoscience division, has been awarded a contract by Equinor on June 11 for the processing of seismic data from the Johan Sverdrup Permanent Reservoir Monitoring (PRM) system in the North Sea.

SAExploration Completes Company’s Largest Shallow-water Project

SAExploration Holdings Inc. has successfully completed the largest shallow water ocean-bottom marine project in the company’s history.

Exploration & Production

Hart Energy's Unconventional Activity Tracker

Hart Energy's exclusive rig counts measure drilling intensity. They exclude units classified as rigging up or rigging down, and also exclude rigs drilling injection wells, disposal wells or geothermal wells. They are designed to offer the most accurate picture of what is actually occurring in the field.

Scoop/Stack Sees Success, Struggle

Bifurcated trends, including on rig count, should not cause concern in the Anadarko Basin for midstream players as upstream players focus on efficiency and optimization.

ONGC Revises Integrated Development Plan For KG Fields

An engineering, procurement and construction tender for the project is expected to be floated later this year.

UPDATED: OPEC Nears Deal To Keep Production Curbs In Place: UAE Energy Minister

OPEC is close to reaching an agreement on extending production cuts, the energy minister of the United Arab Emirates said on Tuesday.

Transactions

Occidental-Anadarko Petroleum Merger’s Impact On Permian Players

Wall Street has been slashing their valuations of top Permian Basin operators despite the region’s attractiveness. Could the blockbuster Occidental-Anadarko deal change that?

Marketed: Permian Basin Minerals, Royalties Across West Texas

OneMap Mineral Partners retained RedOaks Energy Advisors for the sale of its mineral and royalty interests located in the Permian Basin through an offering closing July 12.

Marketed: Public Gas Partners Permian Nonop Leasehold, Minerals

Public Gas Partners retained Meagher Energy Advisors for the sale of nonoperated leasehold and minerals in the Permian's central and Midland basins with bids due July 18.

Mexico’s Oil Regulator Cancels October Auctions To Pick Pemex Partners

Mexico's oil regulator announced on June 13 the cancellation of auctions set for October to pick joint-venture partners for national oil company Pemex in seven onshore areas.

Policy & Regulations

Canada Set To Approve Trans Mountain Pipeline Expansion: Sources

Canada looks set to approve the hotly debated plan to expand an oil pipeline this week, people familiar with the process told Reuters.

US Allows Iraq To Import Iranian Energy For Three More Months: Iraqi Officials

The United States has allowed Iraq to import Iranian gas for its power grid for another three months by extending a waiver to U.S. sanctions for Baghdad, two government sources said on Saturday.

Development Banks' Climate Funding At All-Time High In 2018

The bulk of the banks' climate financing last year was aimed at reducing greenhouse gas emissions and slowing global warming, with over $30 billion invested.

US Green Groups Ramp Up Legal Attacks On Federal Oil Leases

The so-called ‘keep it in the ground’ movement has a new strategy--burying the administration in formal written protests and lawsuits challenging nearly every oil and gas lease it plans on public land.

Midstream

Would Nord Stream 2 Sanctions Create Opportunities For US LNG Exporters?

The booming US LNG industry are increasingly seeking other markets as a second wave of LNG project construction begins.

Howard Energy Partners Completes Significant Expansion At Port Arthur Terminal Facility

Howard Energy Partners (HEP) on June 13 announced that it has completed the expansions of its bulk liquid terminal facilities in Port Arthur and Corpus Christi, Texas.

Strait Of Hormuz And The Risk Of Uncontrolled Escalation

Two oil tankers were attacked and left adrift on Thursday in the Gulf of Oman, just south of the entrance to the strait, stoking fears of a new confrontation between Iran and the United States.

Solving The Predicament Of Water-Handling Pipelines

Pipe maker responds to the midstream’s need for specialized water disposal products.