This is your Hart Energy LIVE A&D Minute powered by the first Gulf of Mexico Energy Transformation Conference March 21 in Houston.
Crude oil production in the U.S. Gulf of Mexico is approaching its pre-pandemic record highs, and Talos Energy aspires to secure its spot as a top Gulf producer, closing on its $1.1 billion acquisition of EnVen Energy to boost its output to about 90,000 boe/d and increase its Gulf production by 40%.
In the booming Delaware lobe of the Permian Basin, Cardinal Midstream Partners closed on its purchase acquisition of Medallion Midstream’s natural gas gathering and processing assets. The operations in Texas’ Reeves and Loving counties include about 80 miles of high- and low-pressure natural gas gathering pipelines and a 140 MMcf/d natural gas processing facility. Will the Permian’s midstream consolidation continue unabated in 2023?
And as mentioned in our other series “The Pulse,” many believe M&A will pick up this year, and now Tudor, Pickering, Holt & Co. president Chad Michael agrees; he sees small and mid-cap energy companies leading more of the industry consolidation. What do you think?
That’s your Hart Energy LIVE A&D Minute powered by the inaugural Gulf of Mexico Energy Transformation Conference - save your seat before it sells out!
Watch new A&D Minute episodes every Wednesday, and sign up for our A&D Watch newsletter at hartenergy.com/deals.
Recommended Reading
Third Suriname Find for Petronas, Exxon Could Support 100,000 bbl/d FPSO
2024-05-17 - A recent find offshore Suriname in Block 52 by Petronas and Exxon Mobil could support a 100,000 bbl/d FPSO development, according to Wood Mackenzie.
TotalEnergies Makes FID on Kaminho Deepwater Project
2024-05-21 - TotalEnergies, in partnership with Petronas and Sonangol, said production is expected to begin in 2028 and reach a plateau of 70,000 bbl/d of oil.
Weatherford to Deliver Drilling Services to Bapco Upstream in Bahrain
2024-06-06 - The contract with Bapco Energy subsidiary Bapco Upstream replaces Weatherford’s old drilling services contract from 2015.
TGS Grants Early Access to CCS Data Along Texas, Louisiana Gulf
2024-07-15 - TGS’ carbon storage dataset covers the available Texas General Land Office lease blocks and is scheduled for release in early August.
CNOOC Encounters High Yield Well in Beibu Gulf
2024-07-23 - CNOOC’s well was tested to produce over 1,000 cu. m/d of oil equivalent, making it the first well of such productivity in the Wushi Sag area.