Asset Management
The Houston-based developer of AI-powered submersible robotics earned the Best in Show Award and a $10,000 prize.
Industry fundamentals continue to strengthen as rising utilization and scarce replacement capacity support higher rig valuations.
The GRMS system of standardization and classification for geothermal resources, led by a coalition of stakeholders in collaboration with Project InnerSpace and the Society of Petroleum Engineers, will be published in November.
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Annual report says that governments have the greatest capacity and responsibility to shape the energy future. -
Occidental Petroleum has closed on deals totaling $1.7 billion as part of its divestment program following its $38-billion takeover of Anadarko Petroleum.
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The long-struggling shale operator’s share price on 12 November closed at 67¢/share, a 25-year low.
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The deal, first announced in May, gives the Delek subsidiary 10 additional producing field interests in the UK North Sea, boosting its 2019 production by 300%.
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Chinese firms stepped in for the majors in Brazil’s two underwhelming offshore auctions.
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Spain’s Repsol will assume 100% interest in and operatorship of the joint venture as Equinor leaves the 9-year partnership.
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Just three firms submitted bids in an auction many are deeming as a disappointment for Brazil.
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The 2019 World Oil Outlook projects tight-oil supplies to rise to at least 75% of total US production before retreating.
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Lower oil prices, increased operator focus on capital discipline, and diminishing access to capital are choking off once-soaring US oil production growth.
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The US major has had a stake in the field since it started production in 1997. It produced 584,000 B/D of oil last year.
