BHP, which said it was seeking reform of its own accord, in July announced BP would buy U.S. shale oil and gas assets from it for $10.5 billion.
Post Oak Energy Capital, LP through investment partnerships it manages, has led a $100 million equity commitment to Saxet III Minerals LLC. The management team will co-invest alongside Post Oak.
Conoco will suspend legal enforcement of the arbitration award as long as the payments continue, spokesman Daren Beaudo said. He declined to say if the payments would be made in cash or crude oil, adding details of the agreement are confidential.
Iran told OPEC on Sunday no member country should be allowed to take over another member’s share of oil exports, expressing Tehran’s concern about Saudi Arabia’s offer to pump more oil in the face of U.S. sanctions on Iranian oil sales.
Both wells are 4,600 foot laterals in the Bethany-Longstreet field in DeSoto Parish, Louisiana.
Brent crude futures, a benchmark for international oil prices, were at $72.13/bbl at 11:38 GMT, up 30 cents.
Chesapeake Energy Corp. (NYSE: CHK) has appointed Mark A. Edmunds to the board of directors, the company said Aug. 17.
The rig count, an early indicator of future output, held at 869 in the week to Aug. 17, Baker Hughes, a GE company (NYSE: BHGE), said in its weekly report.
The company discovered two new oil fields, Sakab and Zumul, and a gas reservoir in the Sahba Field, Aramco said in the report.
A federal judge in Montana has ordered the U.S. State Department to do a full environmental review of a revised route for the Keystone XL oil pipeline, possibly delaying its construction and dealing another setback to TransCanada Corp.
The U.S. energy regulator has approved a request by Cheniere Energy to feed the first gas into its new LNG facility in Corpus Christi, Texas, marking the beginning of a commissioning phase for the export terminal.
Oil prices rose on Friday but were heading for yet another weekly decline as concerns intensified that trade disputes and slowing global economic growth could hit demand for petroleum products.