Companies - News

San Ramon, Calif.-based Chevron said it plans to spend $3.6 billion to produce oil and gas in the Permian Basin of West Texas and New Mexico and $1.6 billion for other shale investments.

Faroe Petroleum's CEO Stewart said the deal with Equinor had been in the works before DNO launched its takeover offer last month and was not intended to stop the bid.

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.

Brazilian state-controlled oil company Petrobras said it could raise $26.9 billion through asset sales and partnerships by 2023 as part of a new strategic business plan.

DEA Deutsche Erdoel agreed to buy independent Mexican company Sierra Oil and Gas at a time of growing uncertainty over the private sector's role in Mexico's oil industry.

Sanchez Energy engaged Moelis & Co. LLC as financial adviser to explore strategic alternatives to strengthen its balance sheet and maximize the value of the Eagle Ford-focused company.

The drop in fracking activity this year had been "significantly larger" than expected, Patrick Schorn, executive vice president of wells at Schlumberger, said at a conference in New York.

Chevron has decided to launch the sale of its stake in Azerbaijan's largest oil field as well as the Baku-Tbilisi-Ceyhan pipeline, the San Ramon, Calif.-based company said in a statement.

Southwestern Energy closed the sale of its Fayetteville Shale business to Flywheel Energy in a transaction worth more than $2 billion completing its transformation to an Appalachian pure-play E&P.

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.

The Anglo-Dutch oil and gas giant said that from 2020 it will set three- to five-year targets every year which will include specific net carbon footprint targets.

It is possible that WhiteWater Midstream's effort to sell itself may not lead to a deal, the sources cautioned, asking not to be identified because the matter is confidential.