Business/economics
While often associated with smaller discoveries, subsea tiebacks are playing a growing role in contributing to the broader energy mix.
The Houston-based enhanced geothermal developer scored $1.9 billion in an initial public offering, positioning it to expand projects in Utah and Nevada.
Equinor generated its first revenue from the Adura joint venture with Shell, formed in late 2025, highlighting strong early cash flow from key UK fields including Mariner and Buzzard.
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The first long-haul overland conveyor system to deliver proppant is under construction in the Permian Basin. -
Woodside Energy awards all contracts for major work at multiple fields, while Helix Energy secures significant plugging and abandonment job on the Gulf of Mexico shelf.
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No one expected the transition to be without hiccups, and recently, those hiccups have been heard within and outside the oil and gas industry.
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A look at recent first‑quarter results reminds us that there is no such thing as a constant trend in our industry. Continual recalibration of companies’ activities aim to obtain positive financial results in the traditional oil and gas business while devoting efforts in a practical way to both mitigate climate change issues and to develop new forms of energy.
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The deal with XTO Energy adds about 62,000 net acres to Chord’s inventory.
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Grupo Carso is securing a significant interest in the field ahead of final investment decision.
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Production from the Dover field is expected to start in late 2024 or early 2025.
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The US supermajor is said to have struck a deal that may make it a major supplier of lithium, which is needed to expand the US electric vehicle market.
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The deal is expected to add over $1 billion in annual free cash flow to Chevron’s bottom line.
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The award includes two LNG ‘mega’ trains with a combined capacity of 16 mtpa.
