Business/economics
Nitzana will enable Israel to double gas exports to Egypt from the giant Leviathan gas field in the Eastern Mediterranean.
Nearly 90% of investment since 2019 has gone to replacing lost production, with $570 billion in spending projected for 2025.
Months of due diligence and evaluation following proposed $18.7 billion deal results in no deal to purchase Australian operator.
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OPEC’s easing of production cuts originally planned for January may be delayed until mid-2021 because of the global increases in COVID-19 cases occurring in November. -
While the individual circumstances of upstream companies may vary, they all must take decisive action to pivot away from “business as usual” and instead, pursue new growth models.
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At least one investment firm thinks there is money to be made in oil and gas operations and is putting up $900 million in equity to fund a startup by two veterans from Felix Energy.
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Of the total $380 billion of projected investments, about 60% ($234 billion) is likely to come from producing assets, which have two main spending channels: facility and well capital expenditures.
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The good news for next year is no one is predicting a repeat of what happened this year. The bad news is the outlooks offers little incentive to find any more oil.
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The cluster is the third largest in Brazil and the fourth largest in the Americas, with potential for further development. It is the third offer the company has made over the past five weeks.
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Gulfport Energy is seeking to eliminate more than $1 billion in debt and to cancel or renegotiate firm transportation contracts that it said drove it to enter bankruptcy protection.
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Bonanza Creek plans to buy HighPoint Resources and said it hopes to maintain an output of 50,000 BOE/D by focusing only on drilled-but-uncompleted wells in the near term.
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With the acquisition of Schlumberger’s rod lift business, Lufkin gains several products, brands, and key proprietary software.
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To go big on capturing CO2, the oilfield service company is acquiring a company that specializes in going small.
