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.
Trump's White House wants to sell half of the nation's emergency oil stockpile and open the Alaska National Wildlife Refuge to drilling as part of plans to balance the budget over the next 10 years.
Saudi Energy Minister Khalid al-Falih said he did not expect any opposition within OPEC to extending the curbs for a further nine months, speaking after he met his Iraqi counterpart in Baghdad.
Ahead of OPEC’s May 25 meeting, the U.S. Energy Information Administration noted the hole that the oil price downturn has opened in member nations’ pockets.
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.
The $400 million JV, a drop in the capex bucket for EOG, will last four years but could draw out value over the long term.
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.
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.
Power distributors in New York and New England are chomping at the bit for more natural gas. Why can’t they get it?
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.
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.