Oil and gas producers are increasingly under siege by investors—activists and otherwise, most recently targeting Denbury Resources’ purchase of Penn Virginia.
Plus, Mexico's new president takes a stance with oil majors, Berry Petroleum exits East Texas for California and Scotland-based Wood to build an NGL pipeline in West Texas.
An undisclosed company, which Berry Petroleum CEO Trem Smith described as a local operator, agreed to acquire the East Texas Basin position where production is 100% gas for $6.7 million.
Austin T. Lee, Bracewell partner who helped lead the team that represented Parsley Energy in its $2.8 billion acquisition of Double Eagle Energy last year, is today’s Forty Under 40 honoree.
A&D - E&P
Hess expects oil output to grow more than 10% per year compounded through 2025, citing higher growth opportunities at its Bakken shale and offshore Guyana projects.
Butkin Oil retained RedOaks Energy Advisors to sell certain operated, conventional oil properties in Carter and Stephens counties, Okla.
In addition to strong Bakken core extension test results, Marathon Oil also continued to chip away at its remaining $1 billion share buyback program.
Oil producer cartel OPEC and its partners will need to keep production lower than their agreed target through 2019 for benchmark Brent crude to come back to $70 a barrel (bbl), oil and gas consultancy Rystad Energy said.
Other key producers can help offset Iranian sanctions, but balancing global oil markets hinges mainly on Saudi Arabia’s spare capacity. How much is it?
A shale revolution has helped the U.S. produce a record amount of oil this year and topple Russia and Saudi Arabia as the world's biggest producer.
Earl Reynolds, Chaparral Energy CEO, recently discussed with Hart Energy what allowed recent success in the company's positions in Garfield and Canadian counties, plus an interesting employee compensation plan tied to productivity.
Competition is having a tremendous effect on shaping the new environment among Oklahoma’s Scoop and Stack plays.
8minutenergy will use the more than $200 million from the JV to develop solar projects throughout the U.S. over the next five years, including in California, Texas and the U.S. Southeast.
Following the closing the GoM JV with Petrobras, Murphy Oil also raised its full-year capex outlook and expects to use some of the cash flow to accelerate activity in the Eagle Ford.
Saudi Aramco will expand its market share in Asia despite likely OPEC limits on output next year, and is eyeing deals in China and Africa as it aims to become a global leader in chemicals, the head of the world’s top oil producer said on Nov. 26.
Mergers & Acquisitions
San Antonio-based newcomer is focusing on projects in the Permian Basin.
The board of Faroe Petroleum, in which DNO already owns 28%, has said the company was worth substantially more than DNO's takeover bid, first announced on Nov. 26.
Akastor will create a leading provider of well-, reservoir- and software services through the combination of AGR and the Norway-based oil services investment company’s subsidiary First Geo.
Transocean’s CEO said the Ocean Rig acquisition will enhance the Swiss-based drilling rig contractor’s fleet of ultradeepwater and harsh environment floaters without compromising its liquidity.
Multiple methods can be put into place to protect pipelines and other assets.
Builds from the early startup of the Sunrise pipeline are expected to continue into 2019.
USD Partners Contract Will Support New Pipeline Connection, More Storage Capacity At Casper Terminal
Three-year deal will support construction of an outbound connection to the Express Pipeline and a tank to facilitate blending.
Hess is looking to sell its Bakken water services business in a proposed $225 million-cash transaction with a midstream energy joint venture between Hess and Global Infrastructure Partners.
Service & Supply
Environmental groups opposed to offshore drilling sued the federal government to prevent future seismic tests for oil and gas deposits in Atlantic waters off the U.S. East Coast.
Today’s Forty Under 40 honoree is Kyle Ramachandran, Solaris Oilfield Infrastructure’s president and CFO who helped form the Houston-based company when he was 29 years old.
Manuj Nikhanj, who helps steer RS Energy Group as president and co-CEO of the Calgary, Alberta-based intelligence firm, is today’s Forty Under 40 honoree.
David Crombie, who previously served as president of completion solutions and executive vice president, brings over two decades of experience to his latest role as COO at Nine Energy Service.