Business/economics
After a decade and a half of declining production, Uzbekistan, ranked 15th worldwide in gas output, has been seeking foreign partners to revive and reverse the fortunes of its oil and gas industry.
While often associated with smaller discoveries, subsea tiebacks are playing a growing role in contributing to the broader energy mix.
The Houston-based enhanced geothermal developer scored $1.9 billion in an initial public offering, positioning it to expand projects in Utah and Nevada.
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Lower oil prices, increased operator focus on capital discipline, and diminishing access to capital are choking off once-soaring US oil production growth. -
The US major has had a stake in the field since it started production in 1997. It produced 584,000 B/D of oil last year.
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The world’s most profitable company will be listed on a domestic exchange next month. The final valuation of the company is yet to be determined.
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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.
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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.
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Service firms are diversifying their portfolios, in part driven by large-scale budget cuts among operators since the industrywide downturn.
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GAO believes BOEM often undervalues its tracts offered to operators in offshore lease sales.
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Expected to close 31 October, the deal will create one of the largest pressure pumpers in the US.
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The two largest oilfield services firms grapple with a worsening North American land market.
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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.
