Business/economics
The deal adds 40,000 B/D of production and epands Cenovus’ SAGD footprint with three Alberta assets.
The Federal Reserve Bank of Dallas’ third-quarter energy survey reflects industry views on the drawdown of the US Strategic Petroleum Reserve, the outlook for Persian Gulf crude exports, and expectations for oil prices.
As the pace of new discoveries slows and high-quality prospects become harder to find, oil companies may need to rely more heavily on mature fields to maintain production and support future supply.
-
Although the shale sector continues to thrive, the pace of deepwater E&P is now gradually picking up. -
The El Dorado, Arkansas-based Murphy has quickly found a home for some of the cash it will receive from the sale of its Malaysia business. The company has been rapidly expanding its US gulf footprint while simplifying its portfolio and targeting more oil.
-
The three largest service companies are optimistic about the rest of 2019.
-
There is a new, big independent in the UK North Sea, Delek Group. Its UK North Sea arm, Ithaca, bought most of Chevron’s holdings in the sector in a $2 billion deal.
-
Devon Energy and its debt gets smaller, as Canadian Natural Resources adds to its huge, long-term bet on Canadian heavy and ultra-heavy crude.
-
Louisiana state granted a tax incentive to LNG Ltd. for its Magnolia project in Lake Charles. Although a beneficial development, it’s a drop in the bucket in the company’s progress toward FID.
-
If the benchmark oil price is $10/bbl higher than the breakeven price for production that means companies are making good money, right? Maybe, but it’s hard to know what goes into a breakeven price.
-
Petrobras says it can produce oil for a lower break-even price than onshore shale plays, including the Permian Basin. Brazil’s offshore sector has cut the cost of deepwater production but comparisons based on break-even prices are slippery.
-
Equinor awarded a contract to Kaefer Energy AS for services within insulation, scaffolding, and surface treatment (ISO) on the Johan Sverdrup field. Awarded under an already existing framework agreement for operations, the contract has an estimated value of more than NOK 700 million. This includes both ordinary operations and maintenance work, and work associated with…
-
The recent production freefall could accelerate even further as US sanctions-related deadlines pass, the US Energy Information Administration said.
