Business/economics
Phase 1 of the lease agreements calls for 2D and 3D seismic over the blocks.
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.
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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. -
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.
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US oil production is getting lighter and gas production is spreading as unconventional formations feed export growth.
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Abu Dhabi will conduct its first-ever competitive tender for international partners to explore and develop oil and gas blocks onshore and offshore.
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The United States is producing a growing share of the world’s oil and gas, with a potential impact that remains uncertain. But continuing infrastructure development and technology advances will be critical in the long term.
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The $50-million investment ranks as one of Total Energy Ventures’ biggest investments to date. Dedicated to China’s energy sector, it will focus on renewable energies, the energy internet, energy storage, distributed energy, smart energy, and low-carbon businesses.
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With presidential elections looming and energy reforms at a critical juncture, the two Latin American energy powers awarded a bevy of blocks to a who’s who of international oil companies.
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The US supermajor continues to evolve its global strategy by pulling out of once-promising Russian partnerships and adding to its offshore Guyana oil drilling bounty.
