Business/economics
The Federal Reserve Bank of Dallas’ third-quarter energy survey reflects industry views on the drawdown of the US Strategic Petroleum Reserve, the outlook for Persian Gulf crude exports, and expectations for oil prices.
After years of market shocks, technological breakthroughs, and rising uncertainty, ATCE 2026 will provide new insights on how industry leaders and technical experts are preparing for the next era of the upstream business.
This guest editorial examines why geothermal projects require a different planning, financing, and development approach than traditional oil and gas projects.
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Acteon Group is buying Actuant’s Viking SeaTech business at a steeply discounted price of $12 million compared to the $225 million that Actuant paid in 2013 to acquire the company, and Actuant is buying Acteon’s Mirage for $16 million. -
BHP Billiton plans to divest its US onshore assets. The company will continue to complete well trials, acreage swaps, and look into midstream solutions to increase the value, profitability, and marketability of the assets.
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Petrofac sold its 50% interest in Petro-SPM Integrated Services to Schlumberger. Petro-SPM operates the Pánuco Integrated Service Contract in Mexico. Schlumberger now owns 100% of Petro-SPM.
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Total’s acquisition of Maersk Oil includes holdings in the North Sea Johan Sverdrup and Culzean projects. Total will become the second-largest operator in the northwest Europe offshore region. Maersk’s strategy shifts to its transport and logistics division.
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Industry interest in US Gulf of Mexico acreage declined in the number of bids and the dollars offered at the latest federal lease sale, compared with the prior sale. But there was still some confidence shown in higher risk prospects.
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This well-established oilfield consultancy explains why 2020 might be a big year for the unconventional sector.
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This new deal marks the second major acquisition of an offshore drilling company since the onset of the industry downturn.
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Shell invested in a Singapore solar company and signed an agreement to purchase a Texas company with solar and other renewable assets. Along with its minority stake in a company that uses solar to generate steam for EOR in the Middle East, Shell catches some rays in the Asia Pacific, US, and Oman.
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The US is emerging as a gas-exporting nation, and that is going to mean big changes globally.
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M2 Subsea, a provider of ROV services, formed an alliance with vessel operator Harvey Gulf Marine International to provide subsea ROV services in the Gulf of Mexico.
