Egypt said on Dec. 29 that it awarded oil and gas exploration concessions in the Red Sea to Chevron, Royal Dutch Shell and Mubadala in an international tender.
Chevron was awarded the first block, Shell a second block, and a third block was awarded jointly to Shell and Mubadala with a total exploration area of around 10,000 square km (3,860 square miles) and with a minimum investment of $326 million, the petroleum ministry said in a statement.
Lilis Energy plans to use the roughly $24.9 million of cash proceeds from the Permian Basin acreage sale to fund a substantial portion of its borrowing base deficiency.
The Rio Bravo Pipeline is poised to support transportation of natural gas production from the Permian Basin and Eagle Ford Shale to NextDecade’s Rio Grande LNG project in Brownsville, Texas
BP’s ambitious climate targets set a challenge for its global oil and gas peers.