Business/economics
The energy technology company received an order from Twenty20 Energy for 10 gas turbines to power US data center infrastructure.
The planned facility was designed to process 34 MMcf/D of associated gas into fully refined gasoline.
The cloud platform provider said the initiative is designed to help energy companies manage and analyze large-scale operational data.
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The agreement—in which Total will reportedly pay $600 million for a 37.4% stake in the Indian gas conglomerate—boosts the supermajor’s LNG market access in India and neighboring countries. It is the latest move in Total’s aggressive expansion of its LNG portfolio. -
The deal for ConocoPhillips’s northern Australian portfolio will help the Australian company boost its position in the country’s gas market, as it gains majority ownership in a set of key assets including Darwin LNG and the Barossa project.
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The round included a near-$1 billion signature bonus on a Campos Basin block awarded to a Total-led consortium.
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Heavy deal-making since 2015 by the two majors has resulted in very different upstream portfolios.
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A month after it got out of Norway, Bloomberg reports that the company is working with advisers on a potential Malaysian sale, which could raise as much as $3 billion. ExxonMobil plans to divest around $15 billion in nonstrategic assets by 2021.
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As Oxy looks to divest billions in assets and focus more on its prime US shale fields, it sheds itself of the ISND and ISSD fields off the eastern coast of Doha. In announcing the lease loss last year, Oxy said the fields need significant infrastructural investment.
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EP Energy is now one of at least 200 North American exploration and production companies to have filed for bankruptcy since 2015.
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The current M&A market is characterized by an increase in private capital, geographical diversity, and a variety of transaction types, including joint ventures and royalty deals.
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The $600-million deal sees NGL net around 580,000 B/D in disposal capacity and 680,000 B/D in transportation capacity via 19 saltwater disposal wells and a network of produced water pipelines. Hillstone also holds an aggregate of more than 110,000 acres in the Delaware Basin.
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With its $4.5-billion acquisition of ExxonMobil’s remaining portfolio on the Norwegian Continental Shelf now official, Var Energi says it hopes to realize its ambitious growth plans.
