Acquisitions & Divestitures
OGI Featured Category
A&D - E&P
One source said a deeper cut in output was an option depending on estimated growth in supply from non-OPEC producers, mainly U.S. shale oil firms, among other scenarios.
Cook Inlet Oil & Gas Lease Sale 244 will offer 224 blocks toward the northern part of the federal Cook Inlet Planning Area for leasing, BOEM said May 18. The blocks stretch roughly from Kalgin Island in the north to Augustine Island in the south.
International exploration and technology remain crucial to filling future energy demand.
Gas production is at its lowest mark in two months and 3.5% lower than the year-ago period, but still a bit higher than production tallies at the beginning of 2017.
OPEC and other oil producers are on course to agree on an extension of supply cuts at a meeting on May 25, with Saudi Arabia saying most participants are on board with the plan to rein in a global supply glut.
Some countries may be better positioned to attract investment to meet future demand, according to a global risk consultancy.
The U.S. Energy Information Administration said May 17 that crude inventories fell 1.8 million barrels for the week to May 12, compared with expectations for a decrease of 2.4 million barrels.
Oil prices strengthened on May 17 ahead of U.S. crude inventory data that could give investors a clue as to whether an OPEC-led output cut is making progress in reducing the persistent global supply overhang.
In addition, Tom Schaefer and Andy Taurins have joined Seaport as managing directors to co-head the firm's A&D investment banking team.
Occidental Petroleum is a stalking horse bidder for Vanguard's Glasscock County, Texas, acreage, which it agreed to buy for $78 million.
Ares’s newly formed Development Capital Resources made $450 million in JV commitments, including one with an operator in the Stack/ Scoop.
Total E&P USA Oil Shale LLC will exit an oil shale project in eastern Utah after reaching an agreement with development partner Red Leaf Resources Inc., the companies said March 31.
Mergers & Acquistions
Rubicon said it expects the acquisition of Choice Completions will strengthen its well construction portfolio and completions solutions business segment.
At the Energy Capital Conference, A&D gurus mused over the current wealth of deals in the Permian, the selloff elsewhere for capital and transactions hurtling toward the Powder River Basin.
The combined company will have a strong position in the Western Canadian Sedimentary Basin, home to the world's third largest crude reserves.
SNC-Lavalin Group is expanding its global consulting, design and project management capabilities with the takeover of U.K.-based WS Atkins.
The Netherlands is set to receive its first LNG delivery from Cheniere Energy's Sabine Pass export plant in the U.S., according to shipping data.
Adam Sieminski looks back at his eventful term heading the U.S. Energy Information Administration.
Despite approval from Trudeau’s federal government, opponents to Kinder Morgan’s Trans Mountain pipeline project haven’t given up.
Quantum Energy Partners again buys Noble’s Appalachia assets in two deals valued at $1.9 billion.
Service & Supply
Amid industry consolidation, Colorado’s RockPile Energy Services will augment Keane’s services primarily in the Permian Basin and the Bakken.
Halliburton executives have been in talks with customers for months about raising rates for its services.
Solaris Oilfield Infrastructure, a manufacturer of proppant management systems deployed in U.S. shale plays, said it expects up to about $127.9 million of net proceeds from the IPO.
Higher crude output from the U.S. should pressure global oil prices through the end of 2018, the U.S. Energy Information Administration (EIA) said May 9, ahead of OPEC's meeting later this month.