Business/economics
The asset sale to an undisclosed buyer includes 360,000 net acres in Oklahoma.
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.
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OPEC has renewed its effort to prop up global crude prices, but the impact may also drive US production higher. -
The Trump administration has tapped a former Louisiana utility regulator to lead the agency responsible for offshore oil and natural gas drilling safety.
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The new CEO of Pemex outlined his plan to reverse the state-owned company’s struggling financial and production situation.
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While the current oil prices may not generate the cash flow needed to pay for offshore projects using traditional financial options, private equity may be the best alternative for operators.
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Secretary of the Interior Ryan Zinke praised America’s resource potential and regulatory framework at OTC. He also laid out his plan to review the department and signed two secretarial orders.
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Brazil is embarking on a 3-year round of bid sales offering international oil companies multibillion barrel prospects with better contract terms.
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Russia’s need to continue expanding the oil and gas business is pushing it to look east for more production and markets. But everywhere it turns there is stiff competition in a world awash in oil and gas.
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Canada will become the world’s fifth-largest producer of crude oil in 2017. The solvent-assisted-SAGD poses the largest advancement in production techniques in the oil sands, and if scaled up, could further reduce extraction costs.
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Argentina President Mauricio Macri visited with oil and gas companies in Houston to emphasize that his country’s reforms are making it increasingly attractive for upstream investing.
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The recent upswing in M&As in the oilfield services sector may be a harbinger of more to come as operators push for capex and opex control.
