Analysts expect the acquisition of Magnum—the number two player in dissolvable frack plugs—to give Nine Energy Service ‘incremental exposure’ to the downhole tools market.
Plus, Exxon Mobil donates to a PAC promoting U.S. carbon tax, offshore drillers Ensco and Rowan agree to merge and Chevron exits Norway.
Diversified Gas & Oil, known as DGO, said it acquired Core Appalachia Holding, a conventional producer and processor of natural gas in the southern Appalachian Basin.
Antero Midstream is set to combine with its general partner and emerge as a C-corp entity under a new moniker.
A&D - E&P
SandPoint is a San Antonio, Texas-based independent oil and gas company with a management team that has a deep history in the acquisition and development of South Texas assets.
The Commonwealth’s leaders want to use the state’s position as a world natural gas giant as a catalyst for significant job and revenue growth.
Drillers have been predicting an upturn for more than a year only to disappoint but debt ratings firm Moody’s Investors Services said last month that it believed 2018 could mark the low point for industry earnings.
ConocoPhillips retained EnergyNet to sell operated Permian Basin properties in Ector County, Texas, through a sealed-bid offering.
Technology revolution will reveal a more effective, less costly option for the energy sector, but to the detriment of humans.
Oil edged further above $80/bbl on Oct. 12 as a rally in equities lent support, though prices pared most of their gain after a closely watched forecaster deemed supply adequate and the outlook for demand weakening.
U.S. shale has developed at a breathtaking pace, yet we see the revolution still ongoing, according to a Stratas Advisors’ outlook analyzing upstream dynamics in a downstream context.
Whether the cost reductions are sustainable remains to be seen, but collaboration and risk-sharing could be crucial, according to a study.
According to the filing, Petrobras, as the Brazilian company is known, will have a 20% stake in the joint venture, and Murphy will have 80%.
A consortium led by U.S.-based Talos Energy is looking to partner with Mexico’s state-run energy firm Pemex next year on a plan to jointly develop a potentially lucrative oil and gas discovery pending more drilling, Reuters reported on Oct. 9.
Baker Hughes (NYSE: BHGE), the world’s second-largest oil services company, will take a 5% stake in Abu Dhabi National Oil Co.’s (ADNOC) drilling unit for $550 million under a tie-up announced on Oct. 8.
Joint venture will develop crude oil pipeline and gathering system in the Delaware Basin.
Mergers & Acquisitions
IPC will acquire BlackPearl for roughly C$622.5 million and combine its assets with IPC’s existing assets in Canada as well as in France, Malaysia and the Netherlands.
The merger of offshore drillers Ensco and Rowan will result in the world’s largest jackup contractor with a combined enterprise value of $12 billion.
The merger with Trinidad Drilling will position Precision as the third-largest driller in the U.S. with a rig fleet that includes over 200 active rigs and 322 total rigs, the companies said.
Canada's energy industry got a boost this week from an LNG project FID. Plus Encana exits the San Juan Basin, Husky makes a play for MEG Energy and reports that Exxon Mobil is exploring the sale of its Gulf of Mexico assets.
The industry will have an even lower than expected ceiling on the level of working gas storage at the start of the heating season.
Energy Transfer Partners LP said on Oct. 15 that a West Texas pipeline would resume operations on Oct. 20 as planned after the pipeline spilled water with nontoxic green dye and residual crude oil near Abilene, Texas.
Russia will remain a key supplier, diplomat says, despite U.S. pressure on Nord Stream 2 natural gas pipeline.
Analysts said the expanded Tallgrass and Silver Creek JV aims to provide seamless crude transportation from the Powder River Basin to export markets on the Gulf Coast.
Service & Supply
Waste Management Energy Services of Texas, LLC, an in-direct subsidiary of Houston-based Waste Management, Inc. (NYSE: WM), announced On Oct. 11 that its new Reeves County Solids and Liquids Injection Facility, designed for the safe disposal of oilfield wastes, is now fully operational.
This niche business is growing rapidly as water companies respond to producers’ insatiable water needs. Here’s a look at four of them.
More than half the total U.S. oil rigs are in the Permian, the country's biggest shale oil formation. Active units there declined by two this week to 486, the Baker Hughes report said.
The new Gen6 frack sand mine will be located in the core of the Haynesville and help provide area producers “significant time and cost savings on transport and logistics.”