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US Drillers Add Oil, Gas Rigs for Fourth Month
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E&P Plus: November 2020 US Drilling Activity Highlights
Check out the latest oil and gas drilling activity highlights across the U.S. featured in the November issue of E&P Plus including a Purple Sage Field-Wolfcamp well in New Mexico, a Haynesville Shale producer in Louisiana’s Sabine Parish and an Ascent Resources Utica Shale discovery.
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MarketsSee More
What’s Affecting Oil Prices This Week? (Nov. 23, 2020)
The world witnessed the long-waited announcements related to successful trial results of several vaccines, which are the preliminary requisite for quick regulatory approvals that will then translate into mass production and distribution.
China’s Oil Buying Binge to Continue in 2021
Tank operators and refiners are expected to keep stocking up.
PATH FORWARD: Daniel Yergin’s ‘The New Map’ Examines the Landscape for Energy Transition
IHS Markit’s vice-chairman and winner of the Pulitzer Prize talks oil, natural gas, the energy transition, climate and his new book with Hart Energy.
Equinor Sees Oil Demand Peaking Two to Three Years Sooner Due to Virus
Oil firm Equinor expects global oil demand to peak by around 2027-2028, two-three years earlier than the company previously saw, as a result of the COVID-19 pandemic, it said on Nov. 17.
BusinessSee More
Forty Under 40: Brandon Junker, Acacia Exploration Partners
Today’s featured Forty Under 40 honoree is Brandon Junker, co-founder, president and operations of Acacia Exploration Partners, a private E&P company with an acreage position across the STACK play in the Anadarko Basin.
Northeast Natural Energy Extends Credit Facility’s Maturity Date
Private oil and gas company Northeast Natural Energy has entered into an amendment on Nov. 23 with its senior lending group led by EIG Global Energy Partners to extend the maturity of its current credit facility to December 2023 and provide significant additional liquidity to the company to execute on its go-forward business plan.
Wintershall Dea Looks beyond Pandemic, Costs to Fall, Volumes to Rise
German oil and gas company Wintershall Dea said Nov. 23 the low commodity prices caused by the coronavirus crisis had hit its third-quarter results, but that sustainably lower operating costs and higher output would help long-term.
UGI Subsidiary Invests in Renewable Gas Project
UGI Corp.'s subsidiary, UGI Energy Services LLC, entered into definitive agreements on Nov. 20 to invest in New Energy One HoldCo LLC, which is part of the team developing a utility-scale renewable natural gas (RNG) project in Idaho.
TechnologySee More
Offshore Driller Noble Corp. to Emerge from Chapter 11 Bankruptcy
Noble Holding Corp. revealed on Nov. 23 that the United States Bankruptcy Court for the Southern District of Texas has issued an order approving the company’s Joint Plan of Reorganization.
Total Selects Nutanix to Power Digital Transformation
Nutanix, a leader in hybrid and multicloud computing, said Nov. 24 that Total has implemented Nutanix solutions, including Nutanix’s hyperconverged infrastructure (HCI) software, AHV, Files, Flow, Prism, and Xi Frame to develop a unified IT environment supporting the majority of their global operations.
Aker BP, Cognite Pioneer Robotics Deployment Offshore with Autonomous Mission
Cognite Data Fusion powers Spot, the Boston Dynamics quadruped robot dog, as it completes autonomous mission onboard Aker BP Skarv installation in the North Sea.
Total Taps Maersk Drilling for Two-Rig Suriname Campaign
The estimated firm total contract value is approximately $100 million, including rig upgrades and integrated services provided.
Exploration & ProductionSee More
E&P Plus: November 2020 US Drilling Activity Highlights
Check out the latest oil and gas drilling activity highlights across the U.S. featured in the November issue of E&P Plus including a Purple Sage Field-Wolfcamp well in New Mexico, a Haynesville Shale producer in Louisiana’s Sabine Parish and an Ascent Resources Utica Shale discovery.
Suncor to Operate Syncrude Oil Sands by 2021
Suncor, as 58.74% owner of the Syncrude Joint Venture, said Nov. 23 that together with the other Syncrude joint venture owners—Imperial Oil Resources Ltd., CNOOC Oil Sands Canada and Sinopec Oil Sands Partnership—have agreed in principle for Suncor to become the operator of the Syncrude project by the end of 2021.
UAE Oil Discoveries Bolster ADNOC Bid to Reach 5 MMbbl/d Capacity
United Arab Emirates' Energy Minister Suhail al-Mazrouei said on Nov. 23 the latest oil discoveries are part of state-owned Abu Dhabi National Oil Co.'s efforts to increase production capacity to 5 million barrels per day (MMbbl/d) by 2030.
Equinor to Boost Output from Top North Sea Oil Field
Norwegian oil major Equinor will raise the output capacity at its Johan Sverdrup field by 30,000 barrels per day (bbl/d) to 500,000 bbl/d by the end of 2020, and plans a further increase next year, it said on Nov.18.
TransactionsSee More
Oil and Gas Investor A&D Trends: Welcome to 2020
In one frame, bankruptcies continued to unravel debt-laden E&Ps. Opposite that, massive megadeals fused together oil and gas companies into Permian Basin behemoths.
Oil and Gas Investor A&D Roundtable: A Pinprick of Light at Tunnel’s End
2020 has been a dark year for A&D, but a variety of factors point toward bright spots in the foreseeable future. Leaders from Detring Energy Advisors, EnergyNet and UBS Investment Bank share their thoughts on why.
Italy’s Snam to Boost Green Hydrogen with 33% Stake in De Nora
Deal worth $1.4 billion will strengthen Snam’s ambitions to lead in green energy.
PetroRio Acquires Stake in BP-operated Fields Offshore Brazil
Petro Rio SA has inked an agreement with BP Energy do Brasil Ltda. on Nov. 19 for the acquisition of interests of 35.7% in the BM-C-30 Block (Wahoo field) and 60% in the BM-C-32 Block (Itaipu field), thus, subject to the necessary approvals, becoming the operator of both pre-salt fields.
Policy & RegulationsSee More
Oil and Gas Producer Wintershall Dea Aims for Net Zero by 2030
‘We’re realistic,’ German energy giant’s CEO says in announcing targets.
Colorado Regulators Approve Tougher Rules for New Oil, Gas Wells
Colorado’s oil and gas regulator on Nov. 23 approved tougher permitting rules for new oil and gas wells, including requiring a 2,000-ft (610 m) separation between wells and homes or public spaces, from the current 500-foot setback.
Green Groups Urge Biden to Shun Cabinet Picks with Oil Ties
Sunrise Movement feels ‘betrayal’ over choice of congressman who received oil and gas contributions.
Trump Administration Pushes to Sell Alaska Oil Leases Pre-Biden Inauguration
The Trump Administration will take key steps to finalize a sale of oil drilling leases in the sensitive Arctic National Wildlife Refuge (ANWR) in Alaska just before Democrat Joseph Biden becomes president.
MidstreamSee More
US Army Corps OKs Permits to Enbridge’s Line 3 Oil Pipeline Project
Final state permits and authorizations are still needed.
KBR Lands EPC Contract for Plaquemines LNG Export Facility
Venture Global LNG names KBR as lead contractor for Phase 1.
Williams Restructures Midstream Contracts with Bankrupt Chesapeake
Pipeline operator Williams Companies Inc. said on Nov. 23 it will take ownership of some of Chesapeake Energy Corp’s assets in exchange for accepting lower gas gathering fees from the bankrupt shale producer.
Court Allows Equitrans to Keep Building Mountain Valley Pipeline
Motion to stay a permit is rejected for the natural gas pipe.
