Drilling activity also fell to levels not seen since the birth of the British offshore oil and gas industry in the 1960s and 1970s, the report added.
Here’s a snapshot of recent energy deals including the closing of Riley Exploration Permian’s all-stock merger with Tengasco plus Chevron’s $1.32 billion buyout of Noble Midstream.
Cairn Energy is shifting its focus to a growth portfolio onshore Egypt from declining offshore fields in the British North Sea in a flurry of deals on March 9 worth around $1.5 billion.
Private-equity firm Kerogen Capital has sold Zennor Petroleum to HitecVision and its British unit NEO Energy for about $625 million.
Plans are to deploy drone, aircraft and methane sensing technologies on the Neptune-operated Cygnus platform in the UK Southern North Sea.
As part of the management changes, Steve Phimister, head of Shell’s oil and gas operation in the North Sea since 2017, will be replaced.
Here’s a snapshot of recent energy deals including Permian Basin acquisitions by U.S. Energy Development comprising interests in oil development projects in the Delaware Basin.
The so-called predefined areas (APA) licensing rounds were introduced in 2003 to facilitate exploration in the most geologically known parts of the Norwegian continental shelf.
Here’s a snapshot of recent energy deals including a series of transactions in the Duvernay Shale as both Shell and Ovintiv exit the play plus Continental Resources reveals itself as the buyer of Samson Resources’ Powder River Basin position.
The sale of U.K. North Sea upstream assets on Feb. 24 helps the U.S. oil major free up capital for projects elsewhere, says Exxon Mobil Vice President Neil Chapman.