KKR is bucking the trend among private-equity peers that have been unloading shale investments after back-to-back oil market busts. The move may signal a bullish turn with U.S. crude prices heading for the best annual performance since 2015. SourceContinue Reading
Gender diversity remains a challenge in the U.S. shale patch, where fewer than two of every 10 jobs are held by women, according to the latest study by a trade group representing the hired hands of the oil field. SourceContinue Reading
Bonanza Creek Energy Inc. and Extraction Oil and Gas Inc. — which announced a merger last month and a plan to rename the combined entity Civitas Resources Inc. — said Monday they’re buying closely held Crestone Peak Resources LLC. Crestone investors will get 22.5 million shares of Bonanza, according to a statement. All three companies...Continue Reading
Futures dropped back below $69 a barrel on Tuesday, mirroring wider markets where the dollar rose and U.S. equity futures pared gains as the recent surge in various assets brought on inflation concerns. SourceContinue Reading
KKR and Contango are doubling down on investing in exploration and production companies as many in the sector seek to recover from years of poor returns amid the shale boom and bust. The combination will allow the merged company to reach greater scale, boost access to capital and drive down the cost of production, the...Continue Reading
The Texas AandM Engineering Experiment Station will collaborate with energy-sector stakeholders, several national labs and universities in ten states as the manager of a new Ocean Energy Safety Institute. SourceContinue Reading
Energy giant BP sees a strong recovery in global crude demand and expects it to last for some time, with U.S. shale production being kept in check, according to CEO Bernard Looney. SourceContinue Reading
The Deepwater Atlas and Deepwater Titan are the world’s first eighth generation ultra-deepwater drillships, and the only rigs to feature a 3,000,000 pound hook-load. These drillships will include the offshore industry’s first 20,000 psi well control systems. SourceContinue Reading
The decline in U.S. drilling and output leaves little competition to OPEC’s efforts to manage markets, Mike Muller, Vitol’s head of Asia, said during an online conference on Sunday. Brent crude closed above $70 a barrel last week for the first time in two years, as buyers demand more oil than producers are pumping. SourceContinue Reading
Oil and gas employment has remained fairly flat in 2021 as companies have focused on reducing debt, repaying investors and focusing on research and development instead of boosting production. Employment in the sector is down 13.8% since the onset of the pandemic in March 2020. SourceContinue Reading
