Whiting Petroleum Corp., an oil and gas producer with operations in North Dakota and Colorado, is in deal talks with San Antonio-based Abraxas Petroleum Corp., two people familiar with the matter told Reuters.
A deal would increase Whiting's acreage in the second-largest U.S. shale field by output and spread its overhead costs over greater production, according to one of the people, who spoke on the condition of anonymity as the talks are not yet public.
Energy companies will be able to handle the expansion and integration of renewables into their existing operations but are less prepared in the non-operational space, says Opportune’s Tony Jones.
These 25 offshore key players are increasing production and efficiencies.
The company said it planned to lay off the workers, both contractors and permanent employees, by the end of second-quarter 2021.