Business/economics
Lower operating expenditures and a changing asset mix helped UKCS operators cut average production costs by 9% year over year, despite relatively flat production levels, according to the NSTA.
The deal adds 40,000 B/D of production and epands Cenovus’ SAGD footprint with three Alberta assets.
The Federal Reserve Bank of Dallas’ third-quarter energy survey reflects industry views on the drawdown of the US Strategic Petroleum Reserve, the outlook for Persian Gulf crude exports, and expectations for oil prices.
-
NextDecade and Mubadala Investment Co. have reached agreement for Mubadala to purchase $50 million of NextDecade’s common stock in a private placement. The capital buoys the development of the Rio Grande LNG export solution linking Permian Basin associated gas to the global LNG market. -
Technip Energies will work on a backlog comprising more than 50% in LNG-related business. Retaining the TechnipFMC name, RemainCo will generate nearly 90% of its revenue outside the US and Canada.
-
Service firms are diversifying their portfolios, in part driven by large-scale budget cuts among operators since the industrywide downturn.
-
GAO believes BOEM often undervalues its tracts offered to operators in offshore lease sales.
-
Expected to close 31 October, the deal will create one of the largest pressure pumpers in the US.
-
The two largest oilfield services firms grapple with a worsening North American land market.
-
The company, which filed for Chapter 11 protection in June, revised downward its revenue projections amid lower expectations for the US oilfield services market and oil prices.
-
As construction continues, SBM Offshore secured the $1.14 billion needed to finance work on the vessel. Liza Unity is scheduled for deployment at ExxonMobil's Liza Phase 2 development offshore Guyana.
-
Separate collaboration agreements between ADNOC and Lukoil, Gazprom Neft, and the Russian Energy Agency cover all segments of the oil and gas industry, including upstream technology and exploration and development of Abu Dhabi concessions.
-
The deal is contingent on Energean Oil and Gas completing its acquisition of Edison E&P, announced in July.
