Phillips 66 Partners agreed to acquire a 50% stake in the Liberty Pipeline, a $1.6 billion project to transport Rockies and Bakken crude oil production to Oklahoma’s Cushing hub.
At DUG Bakken and Rockies, shale executives acknowledged the headwinds, but remained optimistic about the opportunities in the Powder River Basin, the Bakken and, yes, even Colorado.
Shell also said Amberjack Pipeline Co. has signed a dedication and connection agreement with Chevron's Gulf of Mexico anchor project, which is expected to produce oil in 2024.
Companies added one oil rig in the week to Feb. 21, bringing the total count to 679, their highest since the week of Dec. 20, Baker Hughes Co. said in its weekly report on Feb. 21.
The success of Vaca Muerta is key for this South American nation that has failed for decades to break free of cyclical crises and is grappling with inflation above 50% and a $100-billion pile of sovereign debt.
Three Haynesville producers in De Soto Parish, La., Marathon Middle Bakken completions and a Barnett Shale discovery by Devon Energy top this week’s drilling activity highlights from around the world.
FERC says it is protecting competition; clean energy groups say it will make it harder for state to meet greenhouse gas reduction targets.
David T. Merrill has been elected to serve as CEO and president of Unit Corp., which is engaged through its subsidiaries in E&P, contract drilling and gas gathering and processing.
The deepwater Gulf of Mexico has proven to be a prolific producer, but companies still see potential in the basin’s frontier and emerging areas.
Hunting Plc, the international energy services group, has completed the acquisition of Enpro Subsea Ltd. on Feb. 21 for a total consideration of $33 million payable on completion, plus a potential maximum earn out of $3 million based on EBITDA performance in 2020.