Preliminary sale statistics show 29 companies placed 171 bids on 144 blocks in the U.S. GoM.
The transaction comes days after Diamondback Energy said it would add to its Northern Midland position with the roughly $1.25 billion cash-and-stock purchase of Ajax Resources.
Carrizo now has 46,000 net acres in the Delaware Basin including 26,300 net acres in its Phantom area.
The change in investor sentiment has in turn altered how private-equity sponsors and portfolio companies exit.
A&D - E&P
There are 2,000 groups spending $600 million on anti-energy and related campaigns in 2018, according to HBW Resources.
The company discovered two new oil fields, Sakab and Zumul, and a gas reservoir in the Sahba Field, Aramco said in the report.
Acreage in the Louisiana Austin Chalk and Anadarko Basin’s Oswego Formation were among the prospects presented during Summer NAPE.
Onshore push signals renewed confidence eight years after Macondo.
‘Onshore drilling just has better economics currently [and] cycle times also play a key role in offshore projects versus onshore drilling,’ said Sarp Ozkan, DrillingInfo’s director of energy analysis.
As the next U.S. Gulf of Mexico lease sale nears, analysts believe there could be a slight increase in bidding activity.
U.S. tariffs on steel are biting midstream companies working to open up Permian infrastructure for E&Ps, while China’s retaliatory tariffs may cut off a lucrative export market.
One Bcf of gas is enough to fuel about 5 million U.S. homes for a day.
S.T.L. Resources, an independent oil and gas company focused on Appalachian Basin assets, announced it recently closed on a strategic partnership with an affiliate of UGI Energy Services.
ExxonMobil signs a letter of intent; XTO Energy to be a shipper on pipeline.
Altus Midstream will open with a market value of $3.5 billion as it becomes a power player in the Permian Basin.
Franco-Nevada will pay Continental about $220 million for a stake in a newly-formed subsidiary focused on minerals acquisitions in Oklahoma's Scoop and Stack shale plays.
Mergers & Acquisitions
Analysts with Tudor, Picking, Holt & Co. said Ensign’s proposed acquisition of Trinidad would create one of the largest North American land drillers with critical mass in many key international markets.
In China, tariff rhetoric kept heating up, this time over LNG with the country threatening a 25% tariff on U.S. imports.
The sale process for Houston-based SDI began recently, said three sources who spoke on condition of anonymity as the information has not been made public.
A federal judge in Montana has ordered the U.S. State Department to do a full environmental review of a revised route for the Keystone XL oil pipeline, possibly delaying its construction and dealing another setback to TransCanada Corp.
The U.S. energy regulator has approved a request by Cheniere Energy to feed the first gas into its new LNG facility in Corpus Christi, Texas, marking the beginning of a commissioning phase for the export terminal.
Upward trajectory of emerging markets, particularly in Southeast Asia, present opportunity for growing production in the U.S.
Axpo, a Swiss utility and energy trader, said on Aug. 16 it was in talks with a Canadian company planning to build a LNG terminal on the country's East Coast for a 10-year supply deal.
Service & Supply
OPEC on Aug. 13 forecast lower demand for its crude next year as rivals pump more and said top oil exporter Saudi Arabia, eager to avoid a return of oversupply, had cut production.
Oil States named Robert Potter, retired FMC president, as its new chairman following the resignation of its former chairman and shale pioneer, Mark G. Papa.
Global commodities trader Trafigura has applied to build a deep water port in Texas that will be able to load supertankers, the company said on Aug. 6, supplying badly needed oil export infrastructure to the country.
Mark Papa's appointment comes just a few months after Helge Lund, former CEO of BG Group and Statoil, resigned from the Schlumberger board in April to become chairman of BP.