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Offshore Exploration: All Eyes On Brazil’s Presalt Basins
Increased E&P activity is expected in the prolific presalt basins of Brazil, which hold billions of barrels of recoverable oil reserves.
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MarketsSee More
Frac Spread: Ethane Rallies In A Rocky Stretch
NGL prices rebound despite coronavirus worries.
Focus On WTI As Potential Add To Brent Benchmark
Oil pricing agency S&P Global Platts said Feb. 24 the market focus was on WTI Midland crude as a potential addition to dated Brent, a move that would look beyond its North Sea home.
US Shale Oil Outlook Darkens As By-product Prices Slide
U.S. shale oil drillers could scale back investment in production more quickly than previously expected this year after prices slid for what had been a lucrative by-product.
Shell Report: Asia To Absorb LNG Supply Growth From Mid-2020
Supply growth will ease after the middle of the year, with Asia seen as able to pick up demand.
BusinessSee More
Mark Papa To Retire From Centennial Resource Development
Following Mark Papa’s retirement, the board of Permian shale operator Centennial Resource Development has decided to separate the roles of chairman and CEO.
Tulsa, Okla.-based Unit Corp. Taps David Merrill To Succeed CEO Larry Pinkston
David T. Merrill has been elected to serve as CEO and president of Unit Corp., which is engaged through its subsidiaries in E&P, contract drilling and gas gathering and processing.
Noble Corp. Receives NYSE Listing Notice
Company intends to regain compliance by lifting stock above $1 per share.
Noble Corp. CEO Julie Robertson To Take On New Role
“The board and I are confident that now is the right time to transition leadership responsibilities to the next generation of talent,” Noble Corp. CEO Julie J. Robertson said in a statement.
TechnologySee More
Acoustic Imaging Tool Provides 360-degree Downhole View
The approach leverages sound waves to give operators eyes inside their wellbores.
Hunting Acquires Enpro Subsea In All-cash Deal
Hunting Plc, the international energy services group, has completed the acquisition of Enpro Subsea Ltd. on Feb. 21 for a total consideration of $33 million payable on completion, plus a potential maximum earn out of $3 million based on EBITDA performance in 2020.
Siemens To Modernize Middle East Jackup Rig
Siemens was awarded a contract by Arabian Drilling Co. on Feb. 19 to modernize a complete and integrated drilling-drives lineup, including auxiliaries and controls, which will be installed on an offshore jackup drilling rig for a customer in the Middle East.
Petrofac Secures Contracts From ADNOC Worth $1.65 Billion
The move comes as the UAE, a key member of OPEC, looks to achieve gas self-sufficiency and become a net gas exporter.
Exploration & ProductionSee More
Offshore Exploration: All Eyes On Brazil’s Presalt Basins
Increased E&P activity is expected in the prolific presalt basins of Brazil, which hold billions of barrels of recoverable oil reserves.
VAALCO Energy Makes Oil Discovery Offshore Gabon
VAALCO Energy Inc. said Feb. 18 that the South East Etame 4P appraisal wellbore drilled from the VAALCO operated South East Etame North Tchibala platform offshore Gabon in the Etame Marin permit area successfully encountered oil sands in the Gamba formation.
Preview: Managing Expectations For Permian Shale Producers
Leading independents in the Permian Basin—Diamondback, Pioneer and Concho—are preparing to release quarterly results this week, which are expected to show a cautious approach for the year ahead.
US Shale Trends Focus On Operational Efficiency
Attention remains on finding and maintaining operational efficiencies amid market challenges for U.S. shale producers.
TransactionsSee More
Energy A&D Transactions From The Week Of Feb.19, 2020
Here’s a snapshot of energy deals from the past week including a $22.5 million bolt-on acquisition by Laredo Petroleum to its Midland Basin position.
Marketed: Producing Bone Spring ORRI, Lea County, New Mexico
Merrion Oil & Gas retained EnergyNet for the sale of overriding royalty interest package in the Permian Basin through a sealed-bid offering closing March 10.
Marketed: Sierra Resources, Eagle Ford Gas Opportunity
Sierra EF LP retained Detring Energy Advisors to market for sale its oil and gas producing properties, leasehold, and related assets located in the Eagle Ford Shale.
On The Market Oil And Gas Quicklist (Week Of Feb. 19, 2020)
Here’s a quicklist of oil and gas assets on the market including a Powder River Basin package from SilverBow Resources and Overland Energy Partners’ Williston Basin minerals.
Policy & RegulationsSee More
Varying Shades Of Green: Big Oil’s Different Energy Transition Approaches
From renewable power projects to cutting emissions from oil and gas operations, supermajors on both sides of the Atlantic are taking different approaches to going greener.
Pioneer CEO Scott Sheffield Urges Investors To Divest In Top Flarers
Pioneer Natural Resources CEO Scott Sheffield called on oil and gas investors to sell shares or pull funding from companies that have rates of natural gas flaring.
US Slaps Sanctions On Russian Oil Firm
Rosneft penalized for its support of Venezuela’s Maduro.
Texas Regulator Names Companies With Highest Flaring Rate
Companies with the lowest flaring intensity in Texas included Pioneer Natural Resources, EOG Resources, ConocoPhillips and Chesapeake Energy.
MidstreamSee More
Supreme Court Leans Toward Atlantic Coast Pipeline
Dispute between Dominion and environmental groups concerns construction under a national park.
Canadian Prime Minister Justin Trudeau Demands End To Rail Blockades
Protesters have blocked lines in Ontario, Quebec and Alberta in solidarity with a British Columbia aboriginal band seeking to stop the construction of a gas pipeline over its land.
Williams Pulls Away From Constitution Pipeline Project
Greenfield projects like the Northeast gas pipe are too risky at the moment, the company says.
Phillips 66 Partners Acquires Interest In $1.6 Billion Liberty Pipeline
Phillips 66 Partners agreed to acquire a 50% stake in the Liberty Pipeline, a $1.6 billion project to transport Rockies and Bakken crude oil production to Oklahoma’s Cushing hub.
