Business/economics
EY reports an 11% decline in reserve additions and the first sub-100% reserve replacement ratio since 2021, even as crude output climbed.
Superior seeks to expand its international footprint through the acquisition, which is reportedly valued at $1.2 billion.
By acquiring 100% of Ventura’s outstanding shares, SED Energy Holdings would scale its business into a combined $1 billion company backed by a $1.3 billion contract backlog focused on deepwater drilling, shallow-water tender rigs, and seismic acquisition.
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Analysts at Enverus Intelligence Research and Rystad Energy report that US shale consolidation has largely run its course. -
Global offshore decommissioning projects hear the starting gun in Australia and the North Sea, but will the race be a marathon or a sprint?
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Diversified Energy announces its largest deal yet to buy private equity-owned Maverick Natural Resources.
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International majors showing new interest in Iraq as China scoops blocks in Baghdad’s most recent bid rounds.
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The agreement aims to accelerate new commercial technologies that address challenges with geothermal development.
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Rystad Energy and Wood Mackenzie highlight key factors shaping the balancing act in the upstream oil market.
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Aramco expects to complete Phase 1 construction of the 9-mtpa facility in 2027.
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Operators remain cautiously optimistic in 2025, despite regulatory uncertainties.
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The Libyan National Oil Company plans to tender 22 onshore/offshore exploration blocks in 2025 as it works to rebuild credibility with foreign oil producers.
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The acquisition, expected to close in early 2025, will bring Optime Subsea’s umbilical-less technology into Halliburton’s Testing and Subsea division.
