The U.S. Department of the Interior said on July 12 it would hold a record-sized auction for oil and gas leases in the Gulf of Mexico (GoM) in August, in an attempt to spark interest in offshore drilling months after a similar sale received a weak response from energy companies.
Alaska Gasline Development Corp. (AGDC) is preparing an equity offering for this summer and is open to partnering with a major energy firm on the development of its costly Alaska LNG export terminal and pipeline project, an executive said on June 28.
A recent report found while E&Ps move toward free cash flow investors have begun to take notice, but they are moving forward cautiously.
Peter Coleman, who was speaking at the World Gas Conference in Washington, said the project’s ability to provide Woodside with an adequate return is “very challenged.”
The recent pullback in oilfield service stocks comes as some shale producers warned production in the Permian Basin may slow due to a lack of pipeline space to move the crude to market.
Panel agrees the time to investment is now as production soars in the basins and there is a growing need for infrastructure to help with moving assets to market.
Questerre Energy reported on June 4 that it has executed a letter of intent with a senior E&P company to settle outstanding litigation and acquire all their assets in the St. Lawrence Lowlands, Quebec.
Even as much of Wall Street slumbers, there are niches in private and public financial sectors that are awake and eager to seize opportunities in energy.
A Kuwait Petroleum Corp.-owned firm plans to borrow up to $2.6 billion from banks and export credit agencies to build a LNG import terminal, banking sources said on May 23.
South Korea's SK Holdings said in a statement that the investment in Brazos Midstream would be made through its U.S.-based unit Plutus Capital.