Companies - News
Colombian state-run oil company Ecopetrol said on Nov. 27 it will invest between $3.5 billion and $4 billion in 2019, slightly above this year as it bolsters spending on exploration and production projects.
As a result of the Cretic acquisition, Forbes Energy Services said it will have one of the largest fleets of large-diameter, high-capacity coiled tubing units with a footprint in the Permian.
The acquisition, which the Tailwater Capital-backed company acquired from Woodland Midstream Partners and Orion Pipeline, establishes a “strong asset base” for Elevate Midstream in East Texas.
Flat Creek Resources plans to use its $400 million initial commitment from EnCap Investments to build an attractive asset in the Permian Basin in West Texas and New Mexico.
Oil and gas assets in the Permian Basin, the center of the U.S. shale industry, and on the Norwegian Continental Shelf are becoming too expensive, an executive of Norway's Equinor said.
Geospace Technologies acquired the OptoSeis fiber optic sensing technology business from a Petroleum Geo-Services subsidiary in a deal worth up to $25 million in cash.
After making four energy investments in 2014, private-equity firm Warburg Pincus made three in 2015 before recovering to five in both 2016 and 2017.
U.S. shale firms are more profitable than ever after a strong third quarter and the change is evidence shale firms have moved to "harvest mode" and turned toward deal making.
Australia's competition watchdog, ACCC, said it will not oppose oil and gas firm Santos's $2.15 billion acquisition of Quadrant Energy.
Gwin, who last served as executive vice president of finance and CFO, will be responsible for leading Anadarko’s worldwide operations, project management, exploration, midstream and marketing, as well as the company’s expanding next-generation technology development and systems solutions.
Charles J. Rimer will join Whiting Petroleum to serve as its COO after working with Noble Energy since 2002, most recently as the company’s senior vice president of global services.
Suncor Energy CEO Steve Williams will step down in May 2019 with the company's COO, Mark Little, taking over the top job at that time.