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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ExxonMobil’s hot streak of offshore discoveries have sparked investor interest in the Guyana-Suriname basin. How did the company get there, and why do industry representatives feel optimistic about future deepwater prospects in the region? -
Brazil’s large offshore discoveries and domestic demand for oil and gas are a combination that holds potential for explorers to make money on high-priced blocks. A series of offshore auctions offering more attractive properties at more reasonable terms have attracted aggressive bidding.
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All eyes in the upstream continue to be on the growth in unconventional production, particularly in the US. But the offshore arena may be making a quiet comeback, at least in the near term.
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The president of Chevron North America E&P examines how standardization and operational efficiency is crucial for operators looking to bolster their deepwater portfolios.
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The 50th edition of the Offshore Technology Conference kicked off with a distinguished panel representing operators and service companies evaluating the contributions of the past half century.
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Kreuz Subsea mobilized the Kreuz Challenger, a diving support vessel, as part of its 7-year contract with Brunei Shell Petroleum Company. The contract runs until 2022 and includes inspection, repair, and maintenance services to be carried out on offshore oil and gas structures.
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McDermott’s board of directors rejected an acquisition offer from Subsea 7, which called for McDermott to abandon its planned $6-billion combination with CB&I. McDermott’s special meeting of stockholders, which was scheduled earlier to address the CB&I deal, will be held on 2 May.
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Oil prices have recovered somewhat and operators are making money again. So why haven’t the service companies been invited to the party?
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An agreement with DF Barnes is expected to provide financial security for the Scottish fabrication company, which had been on the verge of closure.
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As it works to increase production to 1 million BOE/D, Permian mainstay Pioneer is taking a methodical approach to sustaining capital efficiency.
