Canadian E&P Consolidation Continues with Billion-dollar Montney Merger
Tourmaline Oil’s agreement on June 11 to acquire Montney operator Black Swan Energy continues a trend in the Canadian energy sector, which has seen a flurry of mergers between oil and gas producers within the past year.
Biden Administration Proposes Offshore Wind Energy Sale near NY, NJ
The administration aims to double the capacity of fledging U.S. offshore wind sector by 2030 and decarbonize the power sector by 2035.
Ranger CEO Darron Anderson Leaves Company for New Opportunity
Upon the departure of CEO Darron Anderson, the board of directors of Ranger Energy Services appointed Board Chairman Bill Austin to serve as the Houston-based oilfield service company’s interim CEO.
BP Plans to Spin Off Iraq Operations into Standalone E&P Company: Report
Spinning off oil and gas assets is seen as a way for BP to shift towards renewable energy.
OPEC+ Will Need to Boost Output to Meet Oil Demand Recovery
Meeting the restored oil demand is “unlikely to be a problem,” the IEA said, forecasting that OPEC+ will still have 6.9 million bbl/d of effective spare capacity after July.
Marketed: Throne Petroleum Operated Midland Basin Sale
Throne Petroleum retained TenOaks Energy Advisors for the sale of an operated Midland Basin position in eastern Andrews County, Texas, within the Permian.
US Drillers Add Rigs as Oil Prices Increase
The oil and gas rig count rose five to 461 in the week to June 11, its highest since April 2020, Baker Hughes Co. said June 11.
Best of This Week’s Drilling Activity Highlights (June 11, 2021)
New Permian Basin-Wolfcamp Shale, Marcellus and Haynesville discoveries plus Niobrara completions at a Weld County drillpad in Colorado by soon-to-be-acquired Extraction Oil & Gas top this week’s oil and gas drilling activity highlights from around the world.
LNG Market Poised for Buoyant Recovery
Demand grows across Asia, with China and India pushing the post-COVID rebound.
Updated: Top 12 IP Wells in the Permian Basin
June 2021: Brinninstool West Field-Wolfcamp Well: 5,453 bbl of Oil, 9.779 MMcf of Gas per Day
What's the Next Leap for Subsea Production Control Systems?
Many high-potential locations remain locked off due to the technical complexity of their production. However, with fresh advances in technology, many OEMs and EPCs alike are eyeing this next step to ensure they can stick the landing.
Schlumberger, Panasonic to Collaborate on Battery-Grade Lithium Production Process
The collaboration aims to validate and optimize the efficient lithium production process recently announced by Schlumberger New Energy, to support rapid growth of the EV market.