Kimmeridge’s Commonwealth LNG has entered deals with two Asian companies in the last two months.
Here’s a roundup of the latest E&P headlines, including the third major transaction this month for Baker Hughes and an explorer award for Exxon Mobil.
TotalEnergies acquired offshore positions from Petronas, reinforcing its strategic LNG growth platform.
Asian buyers of U.S. oil and gas property “have a lower cost of capital to begin with and lower return thresholds,” an M&A advisor said. Their math on what a property is worth is different than the math U.S.-based oil and gas producers use.
For the upcoming week, Stratas Advisors expect that there will be further upward pressure on oil prices, since the conflict between Israel and Iran will continue to ramp up, and consequently, the price of Brent crude could reach $77.
Santos Ltd. has received a final, non-binding offer from a consortium led by Abu Dhabi National Oil Co., or ADNOC, that represents a 28% premium over the company’s June 13 closing price.
Even as trade concerns ease, geopolitical tensions are still a risk.
The U.S. trade office had proposed a schedule of rising rates if U.S. companies did not use tankers that don’t currently exist—but backed off after industry backlash.
Here’s a roundup of the latest E&P headlines, including CNOOC’s latest production startup and an exchange of properties offshore Brazil.
Once operational, the Jeju Bio Energy Biogas Plant will convert about 54,000 tons of waste annually into 2 megawatts of renewable energy.