Business/economics
Proposed and final notices of sale represent nearly 80 million acres in the Gulf of Mexico and approximately 1 million acres in Alaska’s Cook Inlet.
The US and UK sanctioned Russian independent Lukoil International and state-owned Rosneft in a bid to pressure Russia over Ukraine.
Ranger acquires American Well Services for $90.5 million, adding 39 workover rigs and boosting its fleet by 25%.
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This year gas is expected to look only a bit better, but after 2019 that is a relief. -
The firm has been working to spin off Technip Energies, creating two companies, with Technip Energies focused on engineering and technology and the remaining TechnipFMC focused on providing integrated technology and services.
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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.
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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.
