Novatek was founded by H. Tracy Hall, the first scientist to use a repeatable process to convert carbon into synthetic diamonds. His company uses the diamonds for various drilling equipment.
‘The more credit that you can deal openly increases opportunity to reach a broader open market, reducing barriers and creating opportunity to get more financing liquidity to facilitate growth.’
The Tulsa, Okla.-based company is working to quickly reduce debt just two weeks after closing its $2.75 billion acquisition of privately held RKI Exploration & Production LLC.
Zohr 1X NFW was drilled to a total depth of about 4,131 m (13,553 ft)) and hit 630 m (2,067 ft) of hydrocarbon column in a carbonate sequence of Miocene age with excellent reservoir characteristics (more than 400 m of net pay), Eni said in a news release.
President expected to announce denial of TransCanada project before Labor Day holiday, sources say.
The private equity firm says the industry may experience a shift amid the downturn, with acquisition and exploitation models getting dollars while the supply of natural gas divestitures increases as operators hold on to oil assets in hopes of a recovery.
Oil-price volatility is creating a nightmare for petrochemical companies planning investments, according to Don Bari, vice president of technology and analytics for IHS Chemical and author of the report.
Of the major shale plays, the Utica is expected to show gas production increases in June, July and August, the EIA said. Though by September, production in the play will also start to slip.