Investment
Investment , Digital Oilfield , Logistics
BP Invests $5 Million in Geospatial Analytics Company Satelytics
BP Ventures has invested $5 million in Satelytics, a cloud-based geospatial analytics software company that uses advanced spectral imagery and machine learning to monitor environmental changes, including methane emissions, the company said on June 23.
Investment , Unconventional , Legislation
Renaissance Oil Founder Frustrated by Mexico’s Fracking Ban
Ian Telfer, who in 2014 founded Canadian-based Renaissance Oil, noted that earlier this week the company announced it would begin to diversify away from Mexico's energy sector.
Private Equity , Investment , Acquisitions & Divestitures , Trends
Oil and Gas Private Equity: Post-pandemic Roadmap to Recovery
A panel of oil and gas capital experts discussed the steps private equity professionals need to take to recover from the severe downturn.
Investment , Storage , Construction , Pipelines
Mirage/Northern Hemisphere Signs $4 Billion Debt Financing For 3 Projects
Pipelines, natural gas storage and Isthmus Corridor project are included.
Investment , Acquisitions & Divestitures
Saudi Aramco Completes $69 Billion SABIC Deal
Saudi Aramco has completed its purchase of a 70% stake in petrochemicals company SABIC for $69.1 billion and extended the payment period by three years to 2028, providing a cushion against weak oil prices.
Public Capital , Investment , Shale Plays , Acquisitions & Divestitures
Appalachia Shale Producer Antero Closes $402 Million ORRI Sale
The ORRI transaction with Sixth Street Partners addresses over half of Antero Resources’ $650 million to $900 million asset sale goal for 2020 while allowing the Appalachia shale producer to pay down debt, CEO Paul Rady says.
Investment , Trade , Tankers , Storage
API Says Mexico Violating New Trade Deal, Hurting Investors
API said U.S. investors have faced difficulties getting permits in Mexico for fuel stations, storage facilities, imported fuel and terminals.
Investment
BlackGold Reportedly Raising $600 Million for Direct Lending to Oil Sector
BlackGold started marketing the fund, its largest to date, in March, as the coronavirus pandemic sent oil prices plunging and brought production to a halt on fears of oversupply.
Investment , Midstream
Moody’s Revises Outlook for Midstream Sector to Negative for First Time
The rapid pace and magnitude of production declines by oil producers has finally spilled into the midstream sector, compromising its aggregate credit quality, according to a new report by Moody’s Investors Service.
Investment , Exploration & Production , Digital Oilfield
Downturn to Accelerate Oil Industry’s Digital Transformation, Experts Say
Partners at Boston Consulting Group say it is critical for oil and gas companies to adopt new digital technologies for post-pandemic recovery.