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The oil and gas and basic industry sectors are expected by Barclays to be the most active for M&A during the next year.
This week alone, Energy Transfer LP agreed to buy WTG Midstream in a $3.25 billion deal, while ConocoPhillips announced a $17 billion deal for fellow producer Marathon Oil Corp. View the full article
The Italian oil and gas company is working with advisers including Standard Chartered Plc on the possible stake sale, the people said, asking not to be identified as the information is private. Eni could sell up to 30% of the business and is drawing interest from other energy companies, including from Asia, the people said. View the full article
Guyana has been urging the Exxon-led consortium to develop its offshore natural gas reserves. Exxon plans to complete an appraisal of the natural gas findings by early next year and explore commercialization options. View the full article
Evaluation of logging data, sample examination and formation pressure measurements confirm approximately 24 m of pay in an overall hydrocarbon column of 37 me. Notably, the hydrocarbon column extends across the boundary between the Gamba and the underlying Dentale formation. View the full article
Features of the FPSO'd include zero routine flaring and venting, variable speed drives and measures to control emissions and capture CO2, including an all-electric concept, which focuses on efficient power generation and increased energy efficiency to achieve a 30 percent reduction in greenhouse gas emissions intensity compared to a design which does not include such technologies. View the full article
Adena Power has joined Halliburton Labs, marking a new collaboration aimed at advancing energy storage solutions. View the full article
Since the start of the year, the rebels have regrouped and ratcheted up attacks, raising questions about security as TotalEnergies weighs restarting its project. ExxonMobil Corp. plans an even bigger LNG export facility adjacent to TotalEnergies’, but it’s also on hold. View the full article
It’s still early days for Namibia, and none of the discoveries in its waters have yet been declared commercially viable. But TotalEnergies aims to approve its first development at the Venus field later this year, and Chief Executive Officer Patrick Pouyanne has said the African country could one day enjoy a boom like that underway on the other side of the Atlantic in Guyana. View the full article
The second day of the Energy NL Annual Conference & Exhibition 2024 got underway today with a morning address by the Honourable Seamus O’Regan Jr., Minister of Labour and Seniors, who outlined the Government of Canada’s efforts to support energy development, including amendments to the Atlantic Accord. View the full article
The Helmerich & Payne drilling rig is being rigged down and transported off location. Production testing equipment will then be mobilized to site. Testing is expected to commence within two weeks and is expected to take less than ten days to complete. View the full article
The project in Beaumont has a capacity of 1.1 million tons a year in the first phase, while the addition of carbon capture and storage will allow it to produce lower-emission ammonia from 2026, Woodside said. Agreements are in place for the feedstock and carbon capture capacity with Linde Plc and Exxon Mobil Corp., it said. View the full article
President Javier Milei, who’s just months into a four-year term, pledges to go where no Argentine leader has successfully ventured for three decades by deregulating the country’s tightly controlled economy. But his signature legislation, which would stamp his libertarian vision on the economy — including free oil markets — still needs to win approval in congress. View the full article
MODEC, Inc. plans to open a new office in Kuala Lumpur, Malaysia, with more than 200 new positions in engineering and other corporate support functions to fill by early 2025. View the full article
As part of the second development of the Atapu and Sepia offshore fields, SLB OneSubsea will provide the Petrobras-standard configured, pre-salt vertical trees, subsea distribution units, subsea control systems and pipeline systems, along with related installation, commissioning and life-of-field services. View the full article
The first phase of the development, with five wells in total, is expected to deliver around 100 MMboe with upside from subsequent phases. The Winterfell unit consists of Green Canyon blocks 899, 900, 943, 944, 987 and 988 with follow-on opportunities in adjacent blocks where Kosmos also has an interest. View the full article
The contract value for the firm period is approximately $68 million, and the contract also includes two 7-month options. The planned start-up of operations is set for March 2025. View the full article
Repsol recently signed a deal with state-owned Petroleos de Venezuela SA that adds jointly managed fields to its operations. In the next few months, the assets are expected to produce 20,000 bpd, doubling what the European major currently produces in one of its three ventures, Chief Executive Officer Josu Jon Imaz said in a call with investors in April. View the full article
Weatherford will offer its Accuview downhole monitoring solutions with the AlphaVTM next-generation whipstock system. Notably, in 2023, Weatherford successfully introduced AlphaVTM, enabled by the Accuview platform in the North Sea for Equinor. View the full article
The probe is being led by Budget Committee Chairman Sheldon Whitehouse, a known industry foe. He has requested documents from 18 oil companies — including Exxon Mobil Corp., BP PLC, and Chevron Corp. — on so-called allegations that evidence suggests the oil and gas industry may be trying to depress production. View the full article
Caerus aims to be “the Rocky Mountain region’s most efficient producer,” according to its website. The company operates more than 7,400 wells in the Piceance Basin in Colorado and Uinta Basin in Utah. It also has infrastructure assets including 2,400 miles of gas and water pipelines and a number of water treatment and storage facilities. View the full article
Devon will disburse $3.25 billion in cash and $1.75 billion in stock, it said in a statement Monday. The company plans to finance the first portion with cash on hand and debt. The deal is expected to close by the end of the third quarter. View the full article
The message, sent in a letter Wednesday to Energy Secretary Jennifer Granholm, comes as Biden administration officials have hinted they may be willing to release oil from the Strategic Petroleum Reserve to tamp down gasoline prices amid forecasts for a spike this summer. View the full article
Under a contract awarded to McDermott in January 2024 by Santos, the company provided engineering, procurement, removal, and transportation of the platform topsides, substructure, and associated items to an onshore facility for dismantling and disposal. View the full article
Vice President Kamala Harris’ campaign said she doesn’t support a ban on fracing, reversing a stance she took on the hot-button oil and gas extraction technique as a presidential candidate in 2019. View the full article
Adding the blocks to Seplat’s assets will swell the company’s natural gas fields in an area where it is already one of the biggest suppliers of domestic gas to Nigerian power plants. It would almost quadruple Seplat’s output to more than 130,000 bpd. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
