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Contango Oil & Gas Snags Oily, Low-decline Assets in $58 Million Deal
Contango Oil & Gas agreed to pay $58 million in cash for the acquisition of PDP heavy reserves located in in the Big Horn, Permian and Powder River basins made via a bank-owned liquidation of assets.
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MarketsSee More
Report: OPEC+ Agrees to Small Oil Output Hike from January
OPEC, Russia and allies, a group known as OPEC+, had previously been expected to extend existing oil cuts of 7.7 million bbl/d, or 8% of global supplies, until at least March.
Report: OPEC+ Postpones Oil Output Policy Talks Amid Disagreement
After consultations on Nov. 29 failed to reach agreement, sources said Russia suggested a possibility for OPEC+ to start increasing output by 500,000 bbl/d each month from January.
Report: OPEC+ Yet to Find Compromise on Oil Policy for 2021
OPEC and allies led by Russia have yet to find a consensus on oil output policy for 2021, after an initial round of talks on Nov. 29 and ahead of crucial meetings on Nov. 30 and Dec. 1, four OPEC+ sources told Reuters.
Oil Prices Set for Weekly Gain Ahead of OPEC+ Meeting
Oil prices were mixed on Friday but remained on course for a fourth straight week of gains ahead of an OPEC+ meeting early next week.
BusinessSee More
Forty Under 40: Mike Kifer, EnerVest Ltd.
Today’s featured Forty Under 40 honoree is Mike Kifer, vice president of acquisitions and reserves for Houston-based EnerVest Ltd.
Shale Producer Pioneer Natural Resources Sets Targets to Reduce Emissions
Pioneer Natural Resources Co. set targets to reduce its greenhouse gas and methane emissions on Dec. 2, becoming the latest oil and gas company to set long-term climate goals.
ConocoPhillips to Shed Up to 500 Employees from Houston Headquarters
ConocoPhillips Co., the largest U.S. independent oil producer, said on Dec. 1 that it would lay off up to 500 Houston employees, about a fifth of its headquarters workforce.
Double Eagle to Fully Repay Outstanding Debt with $650 Million Notes Offering
Double Eagle intends to use the net proceeds from the private placement of $650 million senior notes to fully repay both its term loan and amounts outstanding under its revolving credit facility.
TechnologySee More
E&P Plus As I See It: The ‘Now’ Way of Working
With a focus on capital management in the oil and gas industry, producers and service providers will have to work together to create workflow efficiency.
Solaris Oilfield Infrastructure to Develop Data Analytics Platform with Amazon Web Services
Solaris Oilfield Infrastructure Inc. revealed on Dec. 2 a collaboration with Amazon Web Services Inc. (AWS) to provide its customers greater insights into oilfield data, including materials and storage usage, trend analysis, equipment and performance analytics, and predictive maintenance features.
HENDERSON Implements Data Gumbo Smart Contracts
This is the oil and gas industry’s first use of blockchain-based smart contracts between capital equipment sales, services, repair and maintenance operations, and signals a new avenue in oilfield services tapping the power of GumboNet.
Halliburton Teams with Accenture to Accelerate Digital Supply Chain Transformation
Halliburton and Accenture have teamed on Dec. 2 to accelerate Halliburton’s digital supply chain transformation and support digitalization within the company’s manufacturing function.
Exploration & ProductionSee More
E&P Regional Report: Caribbean Sea Oil and Gas Development Update
Recent oil and gas finds in the Caribbean Sea—Guyana, Suriname, and Trinidad and Tobago—are encouraging producers to expand the exploration and development area in the region.
BP and Ithaca Start Production at Vorlich Field in North Sea
BP and Delek Group-owned Ithaca Energy have started oil and gas production at the Vorlich field in Britain's central North Sea, the companies said on Thursday.
US Drillers Add Oil, Gas Rigs for Fourth Month
U.S. energy firms added oil and natural gas rigs this week, boosting the oil count for the fourth month in a row as producers return to the wellpad with crude prices mostly trading over $40 a barrel since mid June.
Tullow Oil’s New Strategy Focuses on Squeezing West Africa Fields
Britain’s Tullow Oil will commit 90% of its investments in coming years on its producing offshore oil fields in West Africa and put exploration on the back burner to reduce debt.
TransactionsSee More
Pioneer’s Sheffield: Few Independents Will Survive Oil Downturn
The consolidation trend among oil and gas producers will continue, Pioneer CEO Scott Sheffield says, before vaccines pave the way for recovery.
Energy A&D Transactions from the Week of Dec. 2, 2020
Here’s a snapshot of recent energy deals including the closing of Southwestern Energy’s acquisition of Montage Resources plus the $44 billion all-stock merger of S&P Global and IHS Markit.
On the Market Oil and Gas Quicklist (Week of Dec. 2, 2020)
Here’s a quicklist of oil and gas assets on the market including multiple Ascent Resources packages in the core of the Utica Shale in Ohio plus royalty acreage operated by Endeavor Energy Resources in the Permian Basin.
Maverick Natural Resources, FourPoint Energy Agree to Deal
In conjunction with the all-equity merger of the two companies majority controlled by EIG Global Energy Partners, FourPoint Energy became a subsidiary of Maverick Natural Resources and was renamed Unbridled Resources.
Policy & RegulationsSee More
Virtual DUG East: ESG—There’s Nowhere Left to Hide
A roundtable of oil and gas experts from Range Resources, Quantum Energy Partners and Babst Calland offered insights on why ESG dialogue is central to investment dollars during Hart Energy’s DUG East and Marcellus-Utica Midstream Virtual Conference.
UN: Fossil Fuel Production Far Exceeds Climate Targets
Coal, oil and gas output by 2030 will double what is needed to slow global warming.
Senate Votes to Confirm Christie, Clements to FERC
Confirmations return the commission to its full complement for the first time in two years.
Biden Plan to End Fossil Fuel Subsidies Faces Big Challenges
Even if Democrats were a majority in the Senate, legislation is unlikely.
MidstreamSee More
MLP Investors’ Free Cash Flow Wish to Come True
MLPs and midstream companies are starting to show free cash flow operational results, experts say.
Sempra to Buy Remaining Stake in Mexican Unit in $5.81 Billion Deal
Sempra will combine IEnova with Sempra LNG.
Tellurian Withdraws FERC Application to Build Permian Basin Pipeline
U.S. LNG developer Tellurian Inc. told federal energy regulators on Dec. 1 it wants to withdraw its application to build the Permian Global Access natural gas pipeline.
EnCap Flatrock Backs Humble Midstream with $300 Million Commitment
Humble Midstream is a Denver-based independent energy company led by CEO Steve Huckaby, a 38-year industry veteran who most recently served as CEO of Meritage Midstream.
