Business/economics
The planned facility was designed to process 34 MMcf/D of associated gas into fully refined gasoline.
The cloud platform provider said the initiative is designed to help energy companies manage and analyze large-scale operational data.
The deal positions the merged company to benefit from an expected offshore drilling upcycle.
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Hess Corp. sold its stake in the Shenzi development to BHP for $505 million to help pay its share of the cost of developing discoveries offshore Guyana. -
Petrobras began negotiations with SBM Offshore to contract the floating production, storage, and offloading (FPSO) Almirante Tamandaré to be installed in the Búzios field in the Santos Basin.
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More than half of the oil and gas production in the region is shut in.
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Describing it as a “bolt-on” acquisition, the Marcellus Shale producer EQT expects the deal will boost its gas production by 10%.
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Hurricane Zeta is intensifying as it approaches the US Gulf of Mexico coast of southeastern Louisiana, where it is expected to make landfall around 4 p.m. CST today. View a video of Zeta posted by the US Air Reserve Hurricane Hunters.
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In his first remarks as SPE President, Tom Blasingame announced that the theme of his tenure is “Survive, Revive, and Thrive.”
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Evacuations in the GOM began on Monday, but so far nearly 50% of current oil production and 55% of natural gas production in the region is shut-in due to Tropical Storm Zeta.
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The Canadian oil company consolidation formula looks a lot like the one offered by US shale producers.
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In an updated projection, Rystad said that a breakeven of only $50/bbl is needed to produce 100 million BOPD in 2025, reflecting the reduction in oil-production costs.
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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.
