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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Colorado voters soundly defeated a measure 6 November that would have restricted the vast majority of new development in the country’s fifth largest oil-producing state. The outcome was a big relief for the oil and gas industry, but its existential fight in the state hasn’t ended. -
With big shale mergers dominating the headlines, some of the industry’s most influential financial players gathered to discuss what’s driving the shift in operational and fiscal priorities.
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Petroleum industry professionals’ reported average compensation in 2018 shows an increase from this past year but is still lower than salaries before the oil price downturn that began in 2014.
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The SPE Liquids-Rich Basin Conference in Midland, Texas, merged topics that have dominated recent industry discussions: technologies centered on big data, interwell communication, and Permian Basin production.
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The rebrand follows the completion of BP’s $10.5-billion purchase of BHP’s assets in the Permian, Eagle Ford, and Haynesville.
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The oilfield engineering services industry continues to “wheel and deal” with Jacobs’ $3.3-billion sale to WorleyParsons.
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The deal covers drawings, designs, and cast patterns for BEL’s anchor- and chain-handling equipment.
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Steady-state modeling of an asset requires the work of multiple engineering teams, which often leads to suboptimal facility design. An integrated model using information consistently across the entire asset may alleviate the pain resulting from conventional methods.
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The two biggest oilfield services providers are enjoying a rebound in international activity but continue to struggle with a softening US shale completions market. While takeaway constraints will be temporary, steep shale production declines may emerge as a longer-term challenge.
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Oil prices appear to have stabilized during the past year, and speakers at the annual Energy and the Economy Conference at the Dallas Federal Reserve Bank say they expect prices to remain level, at least for a little while.
