Asset Management
With $9.6 billion in assets in the market, the focus is shifting from who is exiting Southeast Asia to who is positioning for entry through acquisition, according to Rystad Energy.
Despite significant progress in capturing associated gas for domestic use, Iraq remains the world’s third-largest gas-flaring country as it aims for higher oil and gas production targets.
Transaction adds 90,000 net acres and 68,000 BOE/D of production as Crescent expands its South Texas footprint.
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Qatar Petroleum entered into a farm-in agreement with Total E&P to acquire a 45% participating interest in two blocks located in the Ivorian-Tano basin, offshore the Republic of Côte d’Ivoire. -
While oil- and gas-related companies slash budgets and staff and operators pull back from production and exploration, the tax coffers of US local and state governments are shrinking fast and with hard repercussions.
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Hit by the pandemic, the oil market crash, and the transition to a low-carbon energy future, exploration companies are spending bare budgets on near-term production and high-impact exploration.
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Askeladd Vest is Phase 2 of the Snøhvit gas development, which is expected to see an FID this year.
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Two of the biggest assets to suffer from the new valuation are in Australia. Shell’s QGC venture and its floating liquified natural gas facility, Prelude, have been reduced in value by up to $9 billion.
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Denbury Resources needs enhanced debt reduction. The company that does enhanced oil recovery using carbon dioxide it produces and transports has skipped a payment to creditors while it seeks a deal that would reduce its debts.
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The deal includes 15 global sites and over 1,700 staff expected to transfer to INEOS upon completion of the sale. The deal also follows BP’s announcement earlier in the month that it would cut 14% of its workforce.
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The drop in US LNG exports comes amid a combination of weak demand, ample supply, additional capacity coming on line, and flexibility to cancel US cargoes.
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The distressed shale pioneer will wipe away nearly $7 billion in debt and is likely to make major asset sales as it attempts to restructure itself into a profitable business.
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World energy is at a “pivotal moment,” says BP CEO in annual statistical review, which reveals contrasts, challenges in energy consumption, production, and emissions.
