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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Facing increased pressure to deliver neutral cash flows and stronger corporate returns, North American E&P companies hedged more oil and gas production than usual heading into 2018. -
A rise in oil prices close to 3-year highs should further stimulate a recovering oilfield services and equipment sector, despite lower than expected late-2017 activity in US shale.
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Full-year 2017 and fourth-quarter financial results show an improving picture for the industry’s three largest oilfield services companies. After 3-plus years of cutbacks, the service sector outlook has turned relatively positive.
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With portfolios that in some cases look dramatically different from a few years ago, the majors now have the ability to think about long-term upstream growth through deal making.
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The global oil industry is positioned for stronger performance, reflecting the financial discipline and cost-cutting innovation driven by several years of low oil prices and the likely prospect of more stable market conditions.
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Schlumberger has decided to quit the seismic acquisition business due to poor financial returns.
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Total just strengthened its presence in United States deepwater plays through an acquisition from Samson that gives the French company a 12.5% interest in blocks covering the Anchor discovery, one of the most significant recent finds in the Gulf of Mexico.
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Aqualis Offshore and Aker BP have signed a 5-year frame agreement. Aker was awarded 23 new production licenses by the Norway Ministry of Petroleum and Energy on 16 January.
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The company’s 31 licenses highlight a record-high total awarded during the latest APA round, which is aimed at developing mature areas of the NCS.
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SPE’s Aberdeen section has chosen the finalists for this year’s Offshore Achievement Awards, which will take place 22 March at the Aberdeen Exhibition and Conference Centre.
