Business/economics
The firm’s latest analysis puts the bulk of the blame on a fragmented supply chain.
The supermajor said the fields are not expected to contribute meaningfully to its production profile by 2030.
Output is rising fast in the South American shale play and putting Argentina on a course to soon reach 1 million B/D.
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BP agreed 1 year ago to sell its interests to Premier Oil for $625 million. The companies later restructured the deal and BP lowered its cash value to $210 million. The transaction fell through after Premier was taken over by Chrysaor in October 2020. -
On a pro forma basis the newly combined oil company is expected to have an output of around 280,000 B/D, making it one of the top producers in the Permian Basin.
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The all-stock deal doubled Liberty’s working pressure-pumping capacity without adding any debt to its balance sheet, while Schlumberger retains a 37% equity interest.
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The two Calgary-based heavy-oil companies have closed on their all-stock deal that was valued at around $2.9 billion when it was announced in October.
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Shell ended the year by announcing more writedowns, pushing the total near $22 billion, and raising questions about the future of its Appomattox platform in the Gulf of Mexico
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In a year defined by a historically harsh oil-price crash that rippled with collateral damage across the industry, the most-read JPT report of 2020 was about a well so different, it needed a new name.
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The two deals have a combined valued of $3 billion and involve more than 81,500 acres in the Midland Basin of Texas.
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Technology company Proserv Controls has formed an alliance with software engineering firm Intelligent Plant in an effort to combine their expertise to improve control systems and data analysis.
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Sale to Total was completed 10 November
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The new deal will focus on developing Arctic onshore blocks in a region where a successful LNG project already exists.
