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.
-
In another all-stock transaction, one of the largest operators in the Permian Basin is set to add nearly 250,000 acres to its portfolio and swell oil production to more than 300,000 B/D. -
Marking the end of a 2-year existence, Riviera is preparing for liquidation and dissolution. The sale of its upstream and midstream assets for $146 million will deliver a $1.35-per-share cash dividend to shareholders. By the end of this year, the company will cease to exist.
-
ConocoPhillips promised more than just growth and costs savings when it announced a deal to acquire Concho.
-
Forty-four percent of oil production and 30% of natural gas production remain shut in as operators return workers to offshore platforms. Production from undamaged facilities are being brought back online once all standard checks are completed. Facilities with damage may take longer to bring back up.
-
The majority of energy firms surveyed by the Federal Reserve Bank don’t expect the business environment to significantly improve until 2022 or 2023.
-
The deal includes Sandvik’s exploration rigs, consumables, production stock, and selected trademarks and patents.
-
Hurricane Delta leads to shut-ins of 92% oil and 60% gas production in GOM as landfall is expected today.
-
GOM production shut-ins increased to 80% of the oil and 49% of natural gas. Hurricane Delta weakened from a category 4 storm to a category 2 storm on Wednesday and is expected reach the US Gulf later in the week.
-
Hurricane Delta is expected to hit Mexico’s Yucatan Peninsula on Wednesday and reach the US Gulf later in the week. Twenty-nine percent of the current oil production and 9% of natural gas production in the Gulf of Mexico is shut in.
-
With oil prices still low, Hess decided to sell a stake in one offshore project to help pay to develop a much larger one.
