Asset Management
The deal is the largest acquisition in Mitsubishi Corp.'s history and adds one of North America's leading shale gas assets to its portfolio.
The sale for $1.8 billion of Solenergi Power, the holding company for Sprng, which develops and operates solar and wind projects across India, follows other realignment actions by the supermajor.
The deepwater infill project is Esso Nigeria's first drilling campaign in a decade and is expected to boost Usan's production by up to 40,000 B/D.
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The drop in gas prices, although greater than forecast, will not be to the same extent as oil prices. -
The company's North American business will accelerate a restructuring that includes job cuts and furloughs over the next couple of months.
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The Denver-based shale producer is the first to cite the ongoing price war and COVID-19 pandemic as the triggers for its insolvency.
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Most history-matching studies have fixed resources—that is, the team of engineers and geoscientists is predetermined. Moreover, the deadlines are always very strict. This constrained scenario often leads to an unfortunate result: The quality of the study suffers.
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The industry increasingly relies on forecasts from reservoir models for reservoir management and decision making. However, because forecasts from reservoir models carry large uncertainties, calibrating them as soon as data come in is crucial.
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The results of the authors’ research showed promising benefits from the use of a systematic procedure of model diagnostics, model improvement, and model-error quantification during data assimilations.
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Sandvik and SNC-Lavalin made similar announcements in late March and would take further action if necessary.
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The potential leasing of space in the SPR comes after the DOE’s plans to buy crude oil were suspended. US oil inventory stockpiles stand at a 10-month high.
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The market in 2020 will be oversupplied by 3–5 million B/D and global inventory will surpass 400 million bbls over the next few months, according to ADI Analytics.
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McDermott was selected previously for a study of the FPU. Completion of the Trion project is expected in Q3.
