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Private Equity

Executive Q&A: Ameredev, Part Two

Executive Q&A: Ameredev, Part Two

Representing a new generation of nimble entrepreneurs, Ameredev CEO Parker Reese had quick success in his first private-equity outing. With the E&P playing field shifting, can he do it again?

Sponsored Content

IndustryVoice: The Value of Data in AI and ML for Geoscience Solutions

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Artificial Intelligence and Machine Learning are making their debut in the workflows of Exploration and Production, but AI and ML solutions are only as good as the data that trains them. With products like ARLAS and SaltNet, TGS has leveraged their expansive data library to focus on finding the right problems to solve.

Highlights

Best Of This Week's Drilling Activity Highlights

best of activity highlights

In case you missed it, here's a look this week's drilling activity highlights around the world. Details on current and past activity available every day in Hart Energy's database. (Week ending June 7, 2019)

Exploration & Production

Plenty Of Room For Improvement In Recovery Rates

Longer-term applications to improve recovery rates will likely include EOR and improved infill well spacing designs, energy experts say. (Source: G.B. Hart/Shutterstock.com)

There’s lots of oil out there, but the industry needs to improve recovery rates to gain the full benefit.

Exploration & Production

E&P Momentum: The Two Sides Of Consolidation

E&P Momentum: The Two Sides Of Consolidation

As industry observers argue for regional consolidation, oil and gas’ history emphasizes the important role that independents play in sector evolution.

Private Equity

Texas Company Forms $165 Million JV To Develop Permian Wolfcamp

Texas Company Forms $165 Million JV To Develop Permian Wolfcamp

Ares-backed Development Capital Resources agreed to partner with an unnamed private operator to fund development of the Permian’s Wolfcamp Shale.

Markets

Saudi Aramco Can Meet Oil Demand Despite Gulf Tension, CEO Says

Saudi Aramco CEO Amin Nasser said the attacks in the Strait of Hormuz are “definitely a concern,” but added Aramco has the flexibility to meet the oil needs of its customers.

SoCalGas Delays Return Of California Natgas Pipeline

Gas supplies have been tight in Southern California for years due to the pipeline limitations and reduced availability of the utility's biggest storage field at Aliso Canyon.

US Cameron LNG Loadings Delayed A First Cargo Exported

At least two commissioning cargoes, one for France's Total and another for Spain's Repsol, were delayed, according to industry sources and shiptracking data.

US Refiner Phillips 66 Enters Offshore Oil Export Race

The offshore port would provide an outlet for oil coming from recently proposed Liberty and Red Oak pipeline joint ventures that will start in early 2021. Phillips will operate the $1.6 billion Liberty pipeline and help finance the $2.5 billion Red Oak pipeline.

Business

Special Report: Permian Private E&Ps

Profiles of eight private operators in the Permian Basin featured at Hart Energy’s DUG Permian conference.

Private Energy Capital: Famine Or Feast?

The plight of private equity in an exit-challenged market pivots on perspective. And focusing on the lack in the short term risks missing the abundance in the longer view.

Energy Executives Join Meritage Midstream Leadership Team

Layne takes over as COO; DeNezza is the company’s new CFO.

Quorum Software Adds Dallas-based Company To Growing War Chest

Quorum Software described Archeio Technologies as a leading provider of oil and gas document classification and smart search technology.

Technology

Sponsored Content

IndustryVoice: The Value of Data in AI and ML for Geoscience Solutions

Artificial Intelligence and Machine Learning are making their debut in the workflows of Exploration and Production, but AI and ML solutions are only as good as the data that trains them. With products like ARLAS and SaltNet, TGS has leveraged their expansive data library to focus on finding the right problems to solve.

Maersk Drilling Secures Contracts For Maersk Valiant In Mexico

Maersk Drilling has secured contracts for a two-well project for the drillship Maersk Valiant with Repsol Exploración Mexico SA de CV for work in Block 10 and 29 in the Gulf of Mexico.

Petrofac Loses Out On $10 Billion In Contracts As SFO Probe Drags On

Oilfield services provider Petrofac lost out on $10 billion worth of contracts globally due to a probe by Britain’s Serious Fraud Office into dealings in Saudi Arabia and Iraq, its finance chief said on June 25.

McDermott Bags Offshore EPCI Work From Saudi Aramco

McDermott International Inc. said on June 24 it has been awarded a large contract from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Marjan and Zuluf fields, offshore Saudi Arabia.

Exploration & Production

Mastering Margins, Tapping Resources, Overcoming Challenges In Appalachia

Executives from Marcellus and Utica producers PennEnergy Resources and Equinor ASA deciphered the secret sauce for success in Appalachia at Hart Energy’s DUG East conference and exhibition.

Permian Player Pioneer Natural Resources Talks Monetizing Assets

Selling midstream interest, water infrastructure and long-dated inventory are among the options for the Permian pure-play.

EOG Resources Powers Up In Powder River Basin

The Powder River’s plays are competitive with other areas in EOG’s ‘premium portfolio,’ company exec says.

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.

Transactions

Coal Producer Buys Permian Minerals From Wing Resources For $145 Million

Alliance Resource Partners agreed to acquire assets from NGP-backed Wing Resources as the coal producer continues to grow its oil and gas minerals segment, particularly in the Permian Basin.

Archrock Acquires Rival Elite Compression In $410 Million Transaction

Archrock’s acquisition of Elite Compression Services also included a $30 million sale with Harvest Midstream plus the addition of Hilcorp Founder Jeffery Hildebrand to its board.

Marketed: Maverick Natural Resources Northern Louisiana Asset

Maverick Natural Resources retained EnergyNet for the sale of oil and gas assets in Northern Louisiana through an auction closing June 26.

Exxon Mobil Seeks Bids For Norwegian Offshore Assets

xxon Mobil Corp. is considering selling all of the stakes it holds in oil and gas fields off the Norwegian coast, a spokeswoman said.
Two years ago the U.S. major —the world's largest oil company—sold its operated assets in the area.

Policy & Regulations

IEA Concerned About Middle East Tensions, Stands Ready To Act

Fatih Birol says that weakening demand and growing U.S. shale production have kept oil prices under control.

US Exports Take Iran’s Place In India’s Oil Market

Sanctions forced Indian importers to seek other suppliers.

Investor LGIM Dumps Exxon Mobil From Its Future World Funds

The divestment of Exxon Mobil only applies to LGIM's Future World Funds which it says are set up for clients who want to express a conviction on ESG themes.

Canada Approves Contentious Trans Mountain Expansion

Trudeau’s government expects legal challenges to its decision.

Midstream

The Interview: Bob Phillips of Crestwood

One of the sector’s most-experienced and best-known CEOs shares personal insights on the downturn and managing for the future.

Natural Gas: US LNG

U.S. companies will be at the forefront in making final investment decisions this year for LNG plants that will begin commercial production in the mid-2020s.

Stakeholder Midstream Announces Promotions

The promotions of Josh Roberts and Brett Baker are expected to make Stakeholder stronger and a more effective operation.

DCP Midstream Shuts Natgas Pipeline In Oklahoma After Explosion

One employee of a third party contractor involved in the work was injured in the explosion.