Management
The agreement follows the discovery of 724 million BOE in unconventional oil and gas reserves in November.
Westwood links 2026 exploration outcomes to policies, with operators offshore Norway finding seven times more resources than those offshore the UK.
The purchase includes approximately 260 producing wells and expands Caturus’ footprint in the Eagle Ford and Austin Chalk.
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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. -
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.
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ConocoPhillips promised more than just growth and costs savings when it announced a deal to acquire Concho.
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FLITE Material Sciences says that its unique lasering process can be used on just about any type of material to make it either repel or attract water and oil. For an industry that deals with a lot of both, the technology has many potential use cases.
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The latest agreement between Wood and Equinor will begin January 2021. The contract follows recent agreements between the two companies for the Breidablikk development in the Norwegian Continental Shelf.
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TechnipFMC and McPhy signed a memorandum of understanding to work together on the development and project implementation of hydrogen technology. Separately, McPhy and Chart Industries also signed a memorandum to scale up hydrogen projects across various markets.
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Deloitte discusses the “great compression” of the oil and gas industry in which companies’ room to maneuver is restricted. How can the industry avoid a talent gap and stop an organizational challenge from becoming a precarious business problem?
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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.
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The majority of energy firms surveyed by the Federal Reserve Bank don’t expect the business environment to significantly improve until 2022 or 2023.
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Chevron is initiating its layoffs of up to 15% of its global workforce of 45,000 first announced in late May by asking employees to reapply for positions. It closed its $4.1-billion acquisition of Noble Energy this week in which it gained 2,200 employees.
