The deal adheres to a plan W&T Offshore outlined earlier this year as necessary to drive increased shareholder value from acquisitions, says CEO Tracy W. Krohn.
Deals with Murphy Oil affect the Khaleesi / Mormont and Samurai field developments through the new King’s Quay floating production system.
At the recent Africa Oil Week conference in Cape Town, South Africa, executives from four of the oil and gas supermajors discussed their plans for the continent with Hart Energy.
Tullow Oil on Dec. 9 said its CEO Paul McDade has resigned and the oil and gas explorer also scrapped its dividends, as it continues to face issues at its fields in Ghana.
Australia's Woodside Petroleum on Tuesday said the final field development plan for the Sangomar oil field was submitted to Senegal government, a joint project owner, paving the way for partners to proceed with final investment decisions.
Norwegian oil and gas firm Equinor said on Nov. 29 it would start a controlled shutdown of its offshore Heimdal platform after two people were injured the previous day.
Last year, BHP ended a massive loss-making seven-year foray into shale by selling most of its U.S. onshore shale oil and gas assets to BP for $10.5 billion.
A SIM system ensures that assumptions made in the design phase are safely controlled and managed throughout the life cycle of the structure.
As oil and gas fields become depleted, energy companies are looking at how they can extend the life of operating fields, unlocking low-pressure reserves from reservoirs to maintain plateau production rates.