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People

AEGIS Energy Risk Adds Oil Veterans To Bolster Texas Presence

AEGIS Energy Risk added Mark Preng and Erin Sokol as regional vice presidents to support The Woodlands, Texas-based firm’s continued growth in the Lone Star State and surrounding states.

Earnings

Italy’s Eni Keeps Production Outlook As 1Q Profit Misses Forecast

The state-controlled major confirmed oil and gas production would grow by 2.5% in 2019, driven in part by increases at its giant fields in Egypt and Kazakhstan.

Crude Oil

Global Oil Markets Adequately Supplied -IEA

The agency, which coordinates the energy policies of industrialized nations, said global spare production capacity has risen to 3.3 million barrels per day due to high compliance rate with the agreed supply cuts among the OPEC and its allies.

Trends

A&D Transactions From The Week Of April 24, 2019

Here’s a snapshot of energy deals from the past week including Murphy’s billion-dollar acquisition of LLOG assets and a nonop Bakken deal worth over $310 million.

People

Algerian State Energy Company Sonatrach’s CEO Sacked

Algeria’s interim president has sacked Abdelmoumene Ould Kaddour as the CEO of state energy company Sonatrach, state TV said on April 23, creating uncertainty for investors who had started to return to the oil and gas producer.

Subsea

SAExploration Wins $25 Million Deepwater Marine Project In Brazil

SAExploration Holdings Inc. announced a new deepwater ocean-bottom marine project award in Brazil for a major international oil company valued at approximately $25 million.

Trending Stories

Markets

A&D Trends: Cash Only

Oil price volatility has helped cast A&D markets adrift leaving many E&P companies in a “no-wind” scenario.

EIA: US Crude Oil Stockpiles Jump On Rise In Imports

U.S. crude oil stockpiles rose last week to their highest in about a year and a half as imports increased, even as refiners sharply ramped up output, the EIA says.

Global Oil Markets Adequately Supplied -IEA

The agency, which coordinates the energy policies of industrialized nations, said global spare production capacity has risen to 3.3 million barrels per day due to high compliance rate with the agreed supply cuts among the OPEC and its allies.

Saudi's Falih: No Need For Immediate Action After End Of Iran Oil Waivers

Saudi Arabia's energy minister said he saw no need to raise oil output immediately after the United States ends waivers granted to buyers of Iranian crude.

Business

Dusty Baker Has Traded MLB Manager’s Cap To Run His Own Solar Company

Baker Energy Team focuses on higher-end projects and has completed a little over 2 megawatts of solar projects. 

AEGIS Energy Risk Adds Oil Veterans To Bolster Texas Presence

AEGIS Energy Risk added Mark Preng and Erin Sokol as regional vice presidents to support The Woodlands, Texas-based firm’s continued growth in the Lone Star State and surrounding states.

Algerian State Energy Company Sonatrach’s CEO Sacked

Algeria’s interim president has sacked Abdelmoumene Ould Kaddour as the CEO of state energy company Sonatrach, state TV said on April 23, creating uncertainty for investors who had started to return to the oil and gas producer.

Dusty Baker Has Traded MLB Manager’s Cap To Run His Own Solar Company

Baker Energy Team focuses on higher-end projects and has completed a little over 2 megawatts of solar projects. 

Technology

Augmented Adoption

Multiple trends make midstream’s digital transformation a priority but operators must consider how to make it happen.

CNOOC Extends North Sea Platform Deal With KCA Deutag

KCA Deutag confirmed on April 24 that its offshore business unit has been awarded an extension to its existing contract with CNOOC Petroleum Europe Ltd. for the Scott platform, which it operates in the U.K. North Sea.

Augmented Adoption

Multiple trends make midstream’s digital transformation a priority but operators must consider how to make it happen.

Bechtel, Fluor Bid For NextDecade’s Rio Grande LNG Project

NextDecade Corp. said April 22 it has received bid packages from each of Bechtel Oil, Gas, and Chemicals Inc. and Fluor Corp., two of the global LNG market’s leading engineering, procurement, and construction (EPC) contractors.

Exploration & Production

Uncertainty Clouds Development Of Argentina’s Vaca Muerta Shale

Analysts are optimistic about Argentina's offshore oil and gas sector, while concerns surround development of the Vaca Muerta Shale.

Uncertainty Clouds Development Of Argentina’s Vaca Muerta Shale

Analysts are optimistic about Argentina's offshore oil and gas sector, while concerns surround development of the Vaca Muerta Shale.

Sponsored Content

Enhancing Safety, Reducing Downtime in Congested Offshore Environments

ION Geophysical’s Marlin Marine Optimization Software increases safety, security and efficiency with full operational awareness in challenging environments.

HART ENERGY CONNECT: Diamondback CFO: “Money should flow to the Permian”

Kaes Van’t Hof of Viper Energy Partners and Diamondback Energy outlines why he thinks investor money should concentrate on the Permian plus why some E&P’s haven’t been active in M&A yet this year.

Transactions

Occidental Petroleum Kicks Off Anadarko Bidding War With Chevron

Occidental Petroleum launched a $57 billion takeover bid for Anadarko Petroleum on April 24, trumping Chevron’s offer for The Woodlands, Texas-based independent announced earlier this month.

A&D Transactions From The Week Of April 24, 2019

Here’s a snapshot of energy deals from the past week including Murphy’s billion-dollar acquisition of LLOG assets and a nonop Bakken deal worth over $310 million.

On The Market Quicklist (Week Of April 24, 2019)

Here’s a quicklist of oil and gas assets on the market including multiple Permian Basin packages in West Texas plus a sealed-bid auction of producing minerals in Oklahoma’s Scoop play.

Shell Reportedly In Talks To Buy BP Stake In North Sea Gas Field

Shell is in talks to buy BP's stake in the Shearwater oil and gas field in the British North Sea for around $250 million, three industry sources told Reuters.

Policy & Regulations

HART ENERGY CONNECT: Political Challenges Facing Permian Basin Producers

Hart Energy looks at legislative moves across the country and what above-ground challenges oil and gas producers in the Permian Basin might face moving forward. 

HART ENERGY CONNECT: Political Challenges Facing Permian Basin Producers

Hart Energy looks at legislative moves across the country and what above-ground challenges oil and gas producers in the Permian Basin might face moving forward. 

Nevada Passes Bill To Double Renewable Standard, Aim For Carbon-Free Electricity By 2050

The measure must pass another round of voting in 2020 as constitutional amendments in Nevada must be approved by voters a second time before becoming law.

China’s Sinopec Resumes US Oil Imports After 6 Months

Refiner’s action signals that risks of importing U.S. crude have lessened.

Transport

Apache Delays Production Of Permian Natural Gas After Weak Prices

Oil and gas producer Apache said on April 23 it would delay natural gas production from its Alpine High assets in the Permian Basin due to "extremely" low prices.

Cogent Midstream To Build Midland Basin Gas Pipeline

New line will connect Cogent’s Big Lake Processing Complex to Kinder Morgan’s Gulf Coast Express Pipeline.

Mariner East 1 NGL Pipeline Returns To Service

Energy Transfer’s pipeline again moves NGL from Eastern Ohio to Marcus Hook.

Partners Group To Buy Norway's CapeOmega In $1.4 Billion Deal

Partners Group, which manages $84 billion worth of assets, said it was looking to make more acquisitions in Norway.