Companies - News
Occidental Petroleum, which has been investing heavily to boost production in the Permian Basin, said output in the basin surged about 62% to 225,000 boe/d in the third quarter.
Buckeye Partners said the divestitures, comprised of its stake in VTTI for $975 million and a $450 million asset sale, was the result of a strategic review by the Houston-based company.
I Squared Capital partnered with Blackstone Energy Partners and EagleClaw Midstream on Nov. 2, making it the latest company to join the Permian Highway Pipeline project in the Delaware Basin.
Steve Gray, former CEO and founder of RSP Permian, has been appointed to serve on the board of directors at Marcellus Shale-focused Range Resources.
Third-quarter oil and gas production rose 9% over a year earlier, and the company forecast total output for the full year would be up about 7% over 2017.
Gulfport Energy said Michael G. Moore stepped down as president and CEO of the Oklahoma City-based oil and gas company and will be replaced on an interim basis by COO Donnie Moore.
Blackbird Energy and Pipestone Oil have agreed to merge, forming Pipestone Energy which is set to have the single largest land position in the Montney shale play in Alberta, Canada.
Following Paul Horne’s retirement in March, Dan Westcott, currently president and CFO, will become Legacy’s next CEO. Meanwhile, COO Kyle M. Hammond will be adding the president role.
In conjunction with the retirement of Al Hirshberg, ConocoPhillips said it will name Matt Fox COO. In addition, the company expanded Don Wallette Jr.’s role as CFO.
U.S. oil and gas producer Noble Energy Inc. (NYSE: NBL) reported a better-than-expected quarterly profit on Nov. 1, as the company boosted oil production and sold at higher prices.
Canadian Natural Resources Ltd.’s (NYSE: CNQ) quarterly profit more than doubled and beat analysts’ estimates on Nov. 1, helped by higher production and average realized prices.
Anadarko Petroleum could shift focus to properties in the Delaware Basin if Colorado voters pass the Proposition 112 oil drilling rules, executives said during a third-quarter earnings call.