At his first meeting with foreign oil majors, Mexico's leftist president-elect pushed the companies to prove themselves by quickly pumping oil from recent finds, sources said, but gave no sign of offering up new fields to reverse dwindling output.
Analysts expect the acquisition of Magnum—the number two player in dissolvable frack plugs—to give Nine Energy Service ‘incremental exposure’ to the downhole tools market.
Prices are careening wildly and they won’t stabilize anytime soon, say analysts.
IPC will acquire BlackPearl for roughly C$622.5 million and combine its assets with IPC’s existing assets in Canada as well as in France, Malaysia and the Netherlands.
A consortium led by U.S.-based Talos Energy is looking to partner with Mexico’s state-run energy firm Pemex next year on a plan to jointly develop a potentially lucrative oil and gas discovery pending more drilling, Reuters reported on Oct. 9.
Canada's energy industry got a boost this week from an LNG project FID. Plus Encana exits the San Juan Basin, Husky makes a play for MEG Energy and reports that Exxon Mobil is exploring the sale of its Gulf of Mexico assets.
U.S. inventories are well below levels of previous years, and an El Niño weather pattern could wreak havoc in early 2019.
Canadian oil and gas producer Husky Energy said late Oct. 2 it had formally offered to acquire rival MEG Energy in a deal valued at about $5 billion including debt.
First gas from the LNG Canada project is expected before 2025, aiming to feed an expected surge in demand for the cleaner, super-chilled fuel from hungry Asian buyers, mainly China.
The Husky's takeover offer for MEG comes as many Canadian oil producers have struggled with transportation bottlenecks as output has surged.