Blogs

 

Venezuela mogul Cisneros partners with PDVSA in new oil venture with goals to quadruple production by 2026

Cisneros, who is chairman of Cisneros Corporation, is entering a joint venture with PDVSA through Globalable Holding SL. The JV known as Petrocabimas is based in the western Zulia state and is projected to quadruple current production to 50,000 bpd by 2026, Cisneros said in a statement. PDVSA did not reply to a request for comment. View the full article
 

BREAKING NEWS: FTC to delay $53 billion Chevron-Hess deal until after ExxonMobil arbitration over assets offshore Guyana

The case with Exxon, which claims to have a right of first refusal over Hess’s biggest asset offshore Guyana, will likely take at least until the fourth quarter, meaning the FTC’s review will extend several more months. The agency plans to announce its decision when the arbitration is finished, said the people, who asked not to be named discussing an internal agency matter. View the full article
 

ChampionX expands offshore artificial lift offerings with RMSpumptools acquistion

RMSpumptools is a leader in electrical penetrator and connector systems, mechanical completion systems and intervention tools, subsea connector systems, and ESP monitoring systems for challenging electrical submersible pumping (“ESP”) applications. RMSpumptools designs, manufactures, and delivers its solutions from locations in the United Kingdom, Saudi Arabia, and the United Arab Emirates. View the full article
 

Devon Energy becomes fourth largest Williston producer with $5 billion Grayson Mill deal, Enverus reports

Grayson Mill was one the largest remaining private opportunities reasonably likely to come up for sale, with around 500 remaining drilling locations and over 100 Mboed production. Among remaining private equity-sponsored E&Ps, as opposed to truly private companies like Continental Resources, Grayson Mill had the largest count of remaining undeveloped gross drilling locations. View the full article
 

Devon Energy becomes 10th largest Williston producer with $5 billion Grayson Mill deal, Enverus reports

Grayson Mill was one the largest remaining private opportunities reasonably likely to come up for sale, with around 500 remaining drilling locations and over 100 Mboed production. Among remaining private equity-sponsored E&Ps, as opposed to truly private companies like Continental Resources, Grayson Mill had the largest count of remaining undeveloped gross drilling locations. View the full article