The Latest
Investment
FourPass Energy, Oaktree to Launch Oil, Gas Operating Company with $900 Million Commitment
Former Felix Energy executives team up to pursue large-scale, oil-weighted, producing assets. Certain funds managed by Oaktree pledge $600 million in initial equity withan option to invest an additional $300 million.
Field Development
PetroRio Acquires Stake in BP-operated Fields Offshore Brazil
Petro Rio SA has inked an agreement with BP Energy do Brasil Ltda. on Nov. 19 for the acquisition of interests of 35.7% in the BM-C-30 Block (Wahoo field) and 60% in the BM-C-32 Block (Itaipu field), thus, subject to the necessary approvals, becoming the operator of both pre-salt fields.
Field Development
Oil Search Preps for Alaskan Assets Sale, Boosts Resource Estimates
Australia-listed Oil Search Ltd. said it plans to launch a formal process for sale of its 15% stake in the Pikka project and other key Alaskan assets in first-quarter 2021.
Exploration & Production
Oil, Gas Lease Sale Results Show GoM’s Staying Power
Nearly $121 million in high bids were placed on blocks offered during the Nov. 18 U.S. Gulf of Mexico lease sale.
Lease Sales
Marketed: Ohio Well Package Plus HBP Acreage in Harrison, Noble and Tuscarawas Counties
Tracker Lario Utica LLC and TLU Royalty Holdings LLC retained EnergyNet for the sale of a 25-well package plus HBP acres in Harrison, Noble and Tuscarawas counties, Ohio, through an auction closing Dec. 18.
Exploration & Production
VAALCO Acquires Sasol's Offshore Gabon Interests, Doubling Total Production, Reserves
VAALCO Energy Inc. has signed a sale and purchase agreement to acquire Sasol Gabon SA 27.8% working interest in the Etame Marin block offshore Gabon, the company said on Nov. 17. In addition, VAALCO is acquiring Sasol’s 40% non-operated participating interest in Block DE-8 offshore Gabon.
Exploration & Production
Colombia Plans to Sign Contracts with Canadian Companies for Four Oil Blocks
CNE Oil & Gas, a subsidiary of Canacol Energy Ltd., and the Colombian arm of Parex Resources Ltd. each placed two bids in an initial auction at the end of October.
Business
Oil Industry Veterans: Not Their First Rodeo
These veterans of the oil and gas industry share what they learned in previous downturns and how to best recover in the days ahead.
Lease Sales
Marketed: Oklahoma Lease Sale in Scoop, Anadarko Basins
The State of Oklahoma has retained EnergyNet to administer the auction of 31 tracts covering 1,608.15 net acres via an online sealed bid sale.
Exploration & Production
US Schedules First 2021 GoM Lease Sale for March
Lease Sale 257 would be the first of 2021 and the eighth offshore sale of the current Outer Continental Shelf Oil and Gas Leasing Program.