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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Denbury Resources needs enhanced debt reduction. The company that does enhanced oil recovery using carbon dioxide it produces and transports has skipped a payment to creditors while it seeks a deal that would reduce its debts. -
The deal includes 15 global sites and over 1,700 staff expected to transfer to INEOS upon completion of the sale. The deal also follows BP’s announcement earlier in the month that it would cut 14% of its workforce.
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The drop in US LNG exports comes amid a combination of weak demand, ample supply, additional capacity coming on line, and flexibility to cancel US cargoes.
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The distressed shale pioneer will wipe away nearly $7 billion in debt and is likely to make major asset sales as it attempts to restructure itself into a profitable business.
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World energy is at a “pivotal moment,” says BP CEO in annual statistical review, which reveals contrasts, challenges in energy consumption, production, and emissions.
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Designed to be a “living” map, it focuses on the largest fixed infrastructure for crude oil and refined products such as trunk pipelines, refineries, and storage facilities.
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Lingering low oil prices are forcing Occidental to mark down the value of its oil and gas assets again, making the burden of its staggering debt look even greater.
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A recovery in the energy industry is key to the oilfield water sector in the Permian. But the industry must address issues such as further research, regulatory changes, and technology.
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The good news is 95% of the oil companies in Texas are expected to survive 2020, which means there is a lot of bad news to endure.
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With contracts canceled and pressures mounting, offshore oil drillers struggle to stay afloat.
