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Big Name Investors Take Aim At Beaten-Up Energy Sector
If their hunches that companies have been oversold, and are now trading at prices that imply a calamity that will not come then the energy sector could be one of the big winners in 2020 and in the years to come.
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MarketsSee More
Frac Spread: Slow Ride
Hydrocarbon prices are improving, but at a slower rate than expected based on tailwinds.
OPEC, Allies Agree To Deepen Oil Output Cuts
Oil producers led by Saudi Arabia and Russia agreed on Dec. 5 to cut output by an extra 500,000 barrels a day (bbl/d) for the final three months of their deal to curb supply but stopped short of pledging action beyond next March.
OPEC Ministers To Discuss Deepening OPEC+ Supply Agreement In Vienna
OPEC Ministers are meeting in Vienna to discuss extending or even deepening the current OPEC+ supply agreement, Stratas Advisors reported on Dec. 4.
What’s Affecting Gas Prices? (Week Of Dec. 3, 2019)
Stratas Advisors expect a 24 Bcf withdrawal level for the U.S. Energy Information Administration's latest reporting week.
BusinessSee More
Big Name Investors Take Aim At Beaten-Up Energy Sector
If their hunches that companies have been oversold, and are now trading at prices that imply a calamity that will not come then the energy sector could be one of the big winners in 2020 and in the years to come.
Harvest Oil & Gas To Buy Back $5 Million Of Shares
Harvest Oil & Gas Corp. said Dec. 5 that its board of directors has approved a share repurchase program under which Harvest is authorized to repurchase up to $5 million of its outstanding common stock.
Providence Resources CEO Tony O’Reilly Steps Down
Providence Resources Plc, the Irish-based energy company, said Dec. 6 that Tony O’Reilly has stepped down from the position of CEO and has resigned from the Board (and all subsidiaries) with immediate effect.
Saudi Aramco Prices Shares At Top Of Range In World’s Biggest IPO
Aramco priced its IPO at 32 riyals (US$8.53) per share, the top of its indicative range, the company said in a statement.
TechnologySee More
TGS Commences Additional Seismic Project In Canada
TGS on Dec. 4 commenced its 2020 South Halfway 3-D onshore seismic survey, amplifying its core position in the Inga/Fireweed area of North East British Columbia (B.C.) in Canada.
TGS Sales First Seismic Dataset For Use In Carbon Capture Project
The data is to be used to verify the suitability for storage of CO2 in offshore reservoirs located in the Permian Gas Basin in the Southern North Sea.
JRC, Intellian Form Partnership For Maritime Satellite Technology
Intellian, the global leader in mobile satellite communication antenna systems, said Dec. 5 that it has signed a strategic partnership with Japan Radio Co. Ltd. (JRC) in maritime satellite communication antenna technology.
Rever Offshore Completes North Sea Decommissioning Project For Fairfield Energy
Rever Offshore, a leading subsea project delivery and execution provider to the offshore energy industry, continues to consolidate its North Sea presence with the successful completion of the subsea infrastructure decommissioning project of the Greater Dunlin Area for Fairfield Energy on Dec. 4.
Exploration & ProductionSee More
Best Of This Week’s Drilling Activity Highlights (Dec. 6, 2019)
EOG's Wolfcamp discoveries; Antero Resources, Utica completion; two Bethany Longstreet Field-Haynesville completions.
Oil Companies Swap Stakes In Mexico As Government Holds Off On Auctions
Companies selling stakes include large foreign producers that were awarded blocks in previous rounds.
Growth In Global Carbon Emissions Slowed In 2019: Report
A surprise drop in coal use in the United States and Europe has helped to slow the growth of global carbon dioxide emissions this year, with softening demand in China and India also contributing, according to a study published on Dec. 4.
Shell, Mitsubishi, Trafigura Present Bids For Ecuador Oil Contract
The country expects to pick a winner for the contract, which is expected to generate $950 million in export income for Ecuador, in the coming days, said the minister, Jose Agusto.
TransactionsSee More
Three-Way Midland Basin Combination Creates $1.5 Billion E&P
The deal would create the largest pure-play northern Midland Basin E&P with a 73,000-net-acre position that is expected to produce 12,000 barrels of oil equivalent per day (boe/d) in 2020.
Engie Brasil Wants To Buy Remaining Stake In TAG
The CEO of Engie’s Brazilian subsidiary said Dec. 3 the French company group wants to acquire the 10% stake still owned by state-controlled oil company Petrobras SA in the natural gas pipeline company TAG.
Forty Under 40: Muhammad Faisal Laghari, Citigroup
Today’s featured Forty Under 40 honoree is Muhammad Faisal Laghari, a managing director in Citigroup’s global energy investment banking team who helped lead the execution part Occidental’s Anadarko acquisition for Citi.
Norway’s Solveig Buys Oilfield Operator Capricorn From Cairn For $100 Million
Norwegian pipeline firm Solveig Gas has agreed to buy oil firm Capricorn Norge from Cairn Energy for $100 million, completing its transformation into a North Sea field operator, Solveig's owner HitecVision said on Nov. 27.
Policy & RegulationsSee More
OPEC+ Likely To Extend Oil Supply Cuts Until June
Meeting on Dec. 5 coincides with the pricing of Aramco’s IPO.
Cheniere Seeks U.S. OK To Process Return To Louisiana Sabine LNG Tank That Leaked
Cheniere, the biggest U.S. LNG exporter, said in a filing earlier this week that its proposed process would prioritize work on one tank, known as S-101, and allow that tank to return to service in the near term.
US Senate Confirms Brouillette As Energy Secretary
The U.S. Senate on Dec. 2 confirmed Dan Brouillette, a former top lobbyist for Ford Motor Co who believes fossil fuels will power a large part of world energy needs for many decades, as President Donald Trump's second energy secretary.
Gas Producer Energean Commits To Net Zero Carbon Output By 2050
London company, which is also an oil producer, plans operational efficiencies and a shift toward natural gas.
MidstreamSee More
Appalachian Play Shows Potential As Global Game Changer
The Appalachia’s hills and valleys exhibit both good news and bad news for the natural gas market.
Energy Transfer, Shell Release Seek Bids For Lake Charles LNG Project
Energy Transfer LP said Dec. 3 that a comprehensive commercial tender package has been issued to EPC contractors to submit final commercial bids for the proposed Lake Charles LNG liquefaction project being developed by Energy Transfer and Shell US LNG LLC (Shell).
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IndustryVoice: WSP Mined Cavern Storage: We ‘Rock’ Hard Rock
With the burgeoning growth in the production of crude oil and natural gas liquids (NGLs), exports are on the rise.
Tallgrass Energy Appoints Matthew P. Sheehy As President
Tallgrass Energy LP said Dec. 3 that the board of directors of its general partner has appointed Matthew P. “Matt” Sheehy as president of Tallgrass Energy, effective immediately.
