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.
-
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.
-
Hurricane Delta leads to shut-ins of 92% oil and 60% gas production in GOM as landfall is expected today.
-
The deal includes Sandvik’s exploration rigs, consumables, production stock, and selected trademarks and patents.
-
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.
-
The merger will effectively end the 86-year run of UK independent oil producer Premier Oil and give rise to one of the largest companies operating in the North Sea region.
-
The acquisition of Weir’s lines of pumps, consumable parts, wellhead, and pressure-control products expands Caterpillar’s well-service capabilities.
-
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.
