Business/economics
Evolution Well Services will deploy electric pressure pumping units for Northeast Natural Energy, which operates in the Marcellus Shale.
By opening new fields to exploration and development, Libya is poised to boost gas production to supply exports in meaningful volumes to Europe by early 2030.
The energy technology company received an order from Twenty20 Energy for 10 gas turbines to power US data center infrastructure.
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The deal gives Equinor an additional 7.5% ownership stake in the Njord redevelopment project and associated tiebacks in the Norwegian Sea, and potentially raises Faroe’s value in the midst of a hostile takeover attempt by DNO. -
Any entity assessing project viability at any stage of the exploration-to-production life cycle must ensure an evergreen examination of the commercial likelihood on the basis of an ongoing data analysis, refining development synergies coupled with strategic reframing as required.
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Proved oil and gas reserves in the US have spiked to levels not seen before, the EIA reports, and one of the main drivers is the Permian’s Wolfcamp-Bone Spring Shale.
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A report from Rystad Energy shows a near-term boost in the global floating production market, with more than 30 new FPSO projects possibly reaching sanction from 2019 to 2021.
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A shut-in subsea flowline is believed to be the source of the spill on Husky Energy’s SeaRose FPSO offshore Newfoundland and Labrador. The spill is believed to be the largest in the history of the Canadian province.
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The agreement calls for the two companies to partner on techno-economic feasibility studies and jointly assess investment opportunities across the LNG value chain.
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For the next several years, supplies of crude will depend on several macro factors. Some are easier to forecast than others.
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A deal with the UK-based energy and chemicals company could fetch up to $3 billion for ConocoPhillips, which is transitioning out of the North Sea to focus on US shale operations.
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US crude oil production is expanding at an unprecedented rate, but much faster growth will be needed in the next few years to meet the world’s demand if global investment in conventional supply doesn’t pick up, an IEA report indicates.
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The deal would raise nearly $4 billion for GE, which plans to reduce its stake in the oilfield services company from 62.5% to at least 50.1% after the transactions. It had previously announced in June its intention to sell its stake over a 2- to 3-year period.
