Asset/portfolio management
As the pace of new discoveries slows and high-quality prospects become harder to find, oil companies may need to rely more heavily on mature fields to maintain production and support future supply.
EY reports an 11% decline in reserve additions and the first sub-100% reserve replacement ratio since 2021, even as crude output climbed.
By acquiring 100% of Ventura’s outstanding shares, SED Energy Holdings would scale its business into a combined $1 billion company backed by a $1.3 billion contract backlog focused on deepwater drilling, shallow-water tender rigs, and seismic acquisition.
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The Denver-based company bulks up its Permian position with the purchase of three EnCap Investment portfolio companies. -
Controversial Sale 259 was conducted as mandated by the Inflation Reduction Act of 2022.
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Chad’s dispute with ExxonMobil and Savannah Energy may be headed for a second round of arbitration before the International Chamber of Commerce in Paris.
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The proposed transaction also would be the first step in establishing a joint venture between BP and ADNOC.
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The massive offshore field inches closer to first production with the filing of the unit development plan with Mexican regulators.
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The approval adds momentum to the Alaska North Slope’s production revival.
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The acquisition deepens Equinor’s holdings in one of is core regions and will add 15,000 BOE/D of new production.
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The Eagle Ford shale currently represents about 30% of Baytex’s total production.
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The UK company will purchase oil producing acreage across the northern part of the south Texas Eagle Ford shale play.
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Nabors expanded its push beyond the oil business by acquiring an Australian solar power company selling a round-the-clock power technology.
