The 150,000 barrel-per-day Buzzard oil field in the British North Sea has restarted, its operator Nexen—a subsidiary of China’s CNOOC—said in a statement on Oct. 25, after pipework at the field had interrupted output since Oct. 16.
In addition, the field had been shut earlier this month for about 10 days for repairs.
Buzzard plays a role in global oil pricing as it is the main contributor to the Forties crude stream, the largest of the five North Sea oil grades that underpin the Brent crude oil futures benchmark.
Denbury Resources and Penn Virginia mutually agreed to terminate their merger after the $1.7 billion cash-and-stock transaction faced difficult market conditions and shareholder opposition.
The acquisition of Jagged Peak will more than double Parsley Energy’s position in the Delaware Basin, where the companies expect to generate G&A savings of about $25 million within the first year.
Callon Petroleum and Carrizo Oil & Gas said Dec. 20 that shareholders from both companies voted to approve its pending merger, which had initially faced shareholder opposition.