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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ExxonMobil confirmed an exclusivity agreement with Var Energi for negotiations of a sale that could reach $4 billion, according to Reuters. If it goes through, the deal would make Var Energi the second-largest producer on the Norwegian Continental Shelf. -
In his first public appearance, Schlumberger’s new CEO said the company would focus on digitalization and restructure some operations.
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The move to split oversight of Aramco from the Energy Ministry ends decades of tradition but is designed to avoid conflicts of interest ahead of what could be the largest IPO in history.
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Recent exploration success in the North Sea has motivated Total to invest some $10 billion in the basin over the next 5 years.
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After the oil price downturn, operators placed renewed emphasis on spending discipline, in drilling, project costs, and balance sheets. For some, that was a different metric: return to shareholders over production growth.
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Colombia is walking a thin line between becoming another fading petroleum province and Latin America’s next big success story. Its aces in the hole: unleashing its nascent offshore and unconventional sectors.
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The entrepreneurial ecosystem and the oil and gas industry are not a perfect match, but the industry has made strides in recent years to attract the startups developing innovative technologies that could usher it into a new era. How are companies bridging the gap?
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The $5.6-billion deal includes the Prudhoe Bay field and the Trans Alaska Pipeline and vaults Hilcorp to be the second-largest Alaska producer and reserves holder, behind only ConocoPhillips.
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The transaction is planned to be structured as a spin-off of TechnipFMC’s onshore/offshore segment to create SpinCo and RemainCo. The separation is expected to be completed in the first half of 2020.
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The shale sector is making moves to consolidate amid investor pressure to increase cash flow. This deal will form the second-largest producer in Colorado’s DJ Basin.
