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A $3-million investment by a climate fund founded by TED curator Chris Anderson and an additional $2-million investment by a subsidiary of Helmerich & Payne will fund a hybrid CLG/EGS demonstration well in Texas. Drilling could begin this summer.

The deal seeks to add 151,000 acres to the Calgary-based oil company's portfolio for price of $465 million.

Sentiments are clearly improving amongst the hard-hit oilfield service companies who all saw revenue grow in the fourth quarter of last year.

A slew of new US regulations raise questions about the future of oil drilling on US government land, with reports of a moratorium on new leasing and permits as the administration considers major changes in the program.

The decision to cancel the nearly 1,200-mile-long project comes less than a year after construction began and is being met with disappointment on both sides of the US-Canadian border. A 60-day halt on new permits for onshore an offshore US federal areas has also been ordered.

Supply chain companies have seen their profits squeezed since the E&P cost cuts of the previous downturn, and just as the industry could finally hope for better days, the COVID-19 pandemic caused the value of 2020’s awarded contracts to slump to a 16-year low of $446 billion.

The $120 million per year, 5-year contracts will provide well-intervention services to Equinor’s fixed platforms.

Aberdeen Renewable Energy Group and the European Space Agency have signed a memorandum of intent to analyze, develop, and implement space-enabled technology and services to support the renewable energy sector.

Last summer, a pair of semisubmersible rigs were purchased by a limited liability company tied to SpaceX. Around the same time, the commercial aerospace firm announced future plans to launch rockets from offshore platforms.

Petronas and PTTEP executives spoke at a virtual symposium about their companies’ commitments to reduce carbon and their work toward a sustainable energy future.