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Oil and Gas Investor
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Coronavirus, Consolidation Taking Toll on Oil Sector Jobs
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Equinor Takes $2.9 Billion Hit in Asset Write-offs
Company Profiles
Mach Resources: Midcontinent Aggregator
Led by industry icon Tom Ward, Mach Resources this year bagged the vast portfolio of Alta Mesa Resources out of bankruptcy and for a song. His premise: Prepare to be the last owner of any asset acquired. And he’s far from done.
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MarketsSee More
E&P Analyst Corner: Looking Ahead to a Post-Pandemic Gas Market
Although some demand may be permanently lost, the gas market is still expected to follow a growth path.
US Natural Gas Futures Hit Near Two-year High
U.S. natural gas futures climbed to their highest in nearly two years on Oct. 26 on forecasts for higher heating demand and concerns that Tropical Storm Zeta could disrupt production.
Asian Spot LNG Prices Jump to 20-Month High on Firm Demand
Traders believe expectations of a cold winter are pushing demand.
Russia’s Putin: Rollover on Oil Output Curbs by OPEC+ Possible
The comments made by Russian President Vladimir Putin are the clearest signal yet from Russia, a global leader in oil production, that it is ready to continue with unprecedented output cuts in the face of a sluggish oil market.
BusinessSee More
Bankruptcies, Debt Rise as Credit Hope Dwindles for E&Ps
The amount of debt associated with oil and gas bankruptcies so far this year has reached more than $50 billion, a report shows.
Exxon Mobil to Keep Dividend Flat for First Time Since 1982
The decision to retain the quarterly dividend could indicate Exxon Mobil expects margin improvements from cost-cutting will allow it to continue making the hefty payout.
Hess Posts Wider-than-expected Quarterly Loss
U.S. oil and gas producer Hess Corp. reported a wider-than-expected loss on Oct. 28 and slightly lowered its full year production forecast, as its operations were affected by hurricanes in the Gulf of Mexico and lower production in South East Asia.
Liberty Oilfield Posts Quarterly Loss; Forecasts Frac Fleet Growth
Liberty Oilfield Services reported a smaller-than-expected quarterly loss on Oct. 27 and forecast sequential growth in active frac fleets, as producers restore oil volumes, driven by an uptick in prices.
TechnologySee More
E&P Tech Trends: New Baker Hughes Rotary Steerable Service; Halliburton, Honeywell Collab; More
Check out the latest products and services for the upstream oil and gas industry including the new Lucida advanced rotary steerable service by Baker Hughes for high-performance drilling.
Shell, AVEVA Partner to Deliver Engineering Data Warehouse
AVEVA, a global leader in engineering and industrial software, has signed an agreement on Oct. 28 to help accelerate Shell Global Solutions International BV’s digital transformational strategy by deploying AVEVA’s cloud software solutions.
CGG Prepares for Nebula Phase II in Deepwater Brazil
CGG has revealed that Nebula 3D Phase I is nearing completion and acquisition will soon commence on Phase II, the company said on Oct. 27.
Former Basic Energy Services CFO David Schorlemer Joins ProPetro
David Schorlemer assumed all duties of CFO at ProPetro effective Oct. 23 as part of the planned departure of the Midland, Texas-based service provider’s former CFO, Darin Holderness.
Exploration & ProductionSee More
Is the Oil Exploration Business Dead?
Leaders of E&P companies, service providers and tech firms discussed the changing landscape of oil and gas exploration during the Society of Exploration Geophysicists’ recent virtual conference.
E&P Regional Report: South America’s Pending Success to Overshadow Harsh 2020
Upstream activity will fuel the region as a leader on the road to recovery.
Opinion: How US Fracking Could Be an Unlikely Beneficiary of a ‘Blue Wave’
Optimism for the dry gas sector is bubbling up like methane in a Pennsylvania spring.
North Dakota’s Oil Output Up 12% in August as More Wells Resume Output
North Dakota’s oil production rose about 12% to 1.16 million barrels per day (MMbbl/d) in August as more wells and drilling rigs resumed production after a drop earlier this year, the state's regulator said on Oct. 16.
TransactionsSee More
Mach Resources: Midcontinent Aggregator
Led by industry icon Tom Ward, Mach Resources this year bagged the vast portfolio of Alta Mesa Resources out of bankruptcy and for a song. His premise: Prepare to be the last owner of any asset acquired. And he’s far from done.
On the Market Oil and Gas Quicklist (Week of Oct. 28, 2020)
Here’s a quicklist of oil and gas assets on the market including Bellatorum Resources Permian Basin royalty asset packages plus operated Oklahoma assets from Kaiser-Francis Oil.
US Utility DTE Energy to Spin Off Gas Pipeline Business
DTE Midstream transports natural gas extracted from shale basins in Appalachia and Louisiana.
Marketed: Equinor Bakken North Dakota, Montana Package
Equinor Energy LP retained EnergyNet for the sale of a Bakken shale package in North Dakota and Montana through an auction closing Nov. 11.
Policy & RegulationsSee More
Research: Global Emissions from Fuel Consumption Likely Peaked Last Year
The rise in EVs, solar and wind power and renewable energy sources will keep emissions lower, says Bloomberg Energy Finance.
US Issues Fresh Iran-related Sanctions Targeting State Oil Sector
The U.S. Treasury Department in a statement on Oct. 26 said it was slapping sanctions on key actors in Iran's oil sector for supporting the Quds Force.
Saudi Oil Minister: Consider All Options to Reduce Emissions
Getting rid of oil and gas is ‘unrealistic,’ energy minister says.
Democrats in US Drilling States Push Back Against Biden Oil Remarks
From Texas to Montana, Democrats locked in tight congressional races in Nov. 3's general election took to Twitter to affirm their support for the fossil fuel industries and workers in their states.
MidstreamSee More
Choosing the Ideal Third-Party Control Room Operations Provider
Like control rooms, not all control room operations providers are created equal.
Contracts for Keystone XL Surpass $1.6 billion
TC Energy says six contractors will create over 8,000 union jobs in 2021.
Enterprise Crude Volumes Drop 26.1% on Oil Price Plunge
Third-quarter pipeline transport struggled after producers slashed production.
Martin Midstream Names Bob Bondurant CEO as Founder Ruben Martin Retires
Martin Midstream’s founder, Ruben Martin, will retire as president and CEO on Dec. 31, but remain as board chairman and will continue to be actively involved in its business development.
