Business/economics
EY reports an 11% decline in reserve additions and the first sub-100% reserve replacement ratio since 2021, even as crude output climbed.
Superior seeks to expand its international footprint through the acquisition, which is reportedly valued at $1.2 billion.
By acquiring 100% of Ventura’s outstanding shares, SED Energy Holdings would scale its business into a combined $1 billion company backed by a $1.3 billion contract backlog focused on deepwater drilling, shallow-water tender rigs, and seismic acquisition.
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The operator was the successful bidder on former shallow-water assets of Cox Oil, Energy XXI, and others. -
Bakken oil production surprised on the upside showing it can grow, but an encore is not expected this year.
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The former company CFO has been acting as interim CEO since September 2023.
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The acquisition will expand Talos’s deepwater US Gulf of Mexico footprint and increase annual production by an estimated 30,000 BOE/D.
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Two of the most established US independents are combining to form a natural gas powerhouse that will be given a new name later this year.
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The Ksi Lisims floating LNG facility is planned to be the world's lowest emission-intensity LNG facility and net-zero ready by 2030.
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The project’s revised development plan now incorporates a carbon capture facility.
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Angola leaves OPEC after 16 years to leverage its oil resources for economic growth.
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Houston-based independents will combine to form a company with a production total above 500,000 BOE/D and valued at $21 billion.
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Located in the National Petroleum Reserve in Alaska, the Willow project is estimated to produce 180,000 BOPD at its peak.
