Varel International Energy Services, a long-standing provider of drilling and downhole solutions, announced their settled litigation with Taurex Drill Bits, including claims of intellectual property infringement for specific drill bit technology. SourceContinue Reading
After a slow start to the year as the coronavirus crisis disrupted plans across the industry, asset-sale activity in the North Sea has picked up in the second half. SourceContinue Reading
“There’s only going to be three or four independents that are investable by shareholders” after the recent market rout, Pioneer CEO Scott Sheffield said on a conference call with analysts. “The best companies have been picked off the past few weeks.” SourceContinue Reading
Europe Asia Pipeline Co., controlled by Israel’s government, and UAE-based MED-RED Land Bridge Ltd. signed a memorandum of understanding to collaborate on the transportation of crude and oil products between the Persian Gulf and Western markets, according to an EAPC statement. SourceContinue Reading
The explorer has been waiting since 2017 to close its divestment in the Lake Albert Development Project, an effort repeatedly stymied by tax disagreements. SourceContinue Reading
Pioneer Natural Resources Co. is in discussions to buy rival Parsley Energy Inc. in an all-stock deal that could be finalized by the end of the month, according to a person familiar with the matter. Pioneer is run by Scott Sheffield while his son Bryan is Parsley’s founder and chairman. SourceContinue Reading
Speaker Nancy Pelosi told Bloomberg TV that a bill for a compromise stimulus package is being written, raising hopes that lawmakers and the White House may be able to break a months-long impasse. But “mixed messages” between Trump and Senate Republicans — who have opposed a package of $1.8 trillion or more — could pose...Continue Reading
While it expects for now to keep output levels unchanged, Lukoil will “soon” submit proposals to Iraqi authorities to develop a separate area in the south known as Block 10. SourceContinue Reading
The study evaluates the scale of the potential for geothermal energy around the world and provides insight into the role this alternative energy source can play in electrical power generation and heating within the energy transition. SourceContinue Reading
Concho Resources Inc., an early explorer of the Permian basin’s once-coveted oil riches that was worth $32 billion just two years ago, is selling for $9.7 billion in stock. ConocoPhillips is paying a meager 15% premium over Concho’s closing price on Oct. 13, the last trading session before Bloomberg News first reported the companies were...Continue Reading
