Business/economics
Proposed and final notices of sale represent nearly 80 million acres in the Gulf of Mexico and approximately 1 million acres in Alaska’s Cook Inlet.
The US and UK sanctioned Russian independent Lukoil International and state-owned Rosneft in a bid to pressure Russia over Ukraine.
Ranger acquires American Well Services for $90.5 million, adding 39 workover rigs and boosting its fleet by 25%.
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The three largest service companies are optimistic about the rest of 2019. -
There is a new, big independent in the UK North Sea, Delek Group. Its UK North Sea arm, Ithaca, bought most of Chevron’s holdings in the sector in a $2 billion deal.
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Devon Energy and its debt gets smaller, as Canadian Natural Resources adds to its huge, long-term bet on Canadian heavy and ultra-heavy crude.
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Louisiana state granted a tax incentive to LNG Ltd. for its Magnolia project in Lake Charles. Although a beneficial development, it’s a drop in the bucket in the company’s progress toward FID.
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If the benchmark oil price is $10/bbl higher than the breakeven price for production that means companies are making good money, right? Maybe, but it’s hard to know what goes into a breakeven price.
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Equinor awarded a contract to Kaefer Energy AS for services within insulation, scaffolding, and surface treatment (ISO) on the Johan Sverdrup field. Awarded under an already existing framework agreement for operations, the contract has an estimated value of more than NOK 700 million. This includes both ordinary operations and maintenance work, and work associated with…
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Petrobras says it can produce oil for a lower break-even price than onshore shale plays, including the Permian Basin. Brazil’s offshore sector has cut the cost of deepwater production but comparisons based on break-even prices are slippery.
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The recent production freefall could accelerate even further as US sanctions-related deadlines pass, the US Energy Information Administration said.
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Santos signed a binding letter of intent to acquire a 14.3% interest in Petroleum Retention License 3, which contains the P’nyang natural gas field in Papua New Guinea.
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Weatherford said it will file for bankruptcy after reaching a deal with its biggest lenders to halve its debt load and provide financing during and after the process.
