Oil giant Saudi Aramco and energy services company Baker Hughes Co. have formed a 50/50 joint venture, Novel, to develop a broad range of non-metallic products for multiple applications in the energy sector.
Novel's new plant is being constructed at Saudi Arabia's King Salman Energy Park (SPARK), a 50 sq km energy city aimed at making the kingdom a global energy, industrial and technology hub.
The new facility will not only create jobs, it will also help to foster growth of an emerging sector in line with Saudi Arabia's Vision 2030 to diversify the economy away from oil, the companies said in a statement without disclosing the size of their investment.
Whiting Petroleum, an oil and gas producer with operations in North Dakota and Colorado, is in deal talks with San Antonio-based Abraxas Petroleum, two people familiar with the matter told Reuters.
Chevron Corp.announced today that it has entered into a definitive agreement with Anadarko Petroleum Corp. to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share.
323 Exploration retained EnergyNet for the sale of more than 12,000 net leasehold acres in West Texas through a sealed-bid offering.