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.

November 19, 2020

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.

November 19, 2020

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.

November 18, 2020

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.

November 18, 2020

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.

November 18, 2020

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.

November 18, 2020

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.

November 18, 2020

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. 

November 17, 2020

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.

November 17, 2020

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.

November 17, 2020