The oil and gas and basic industry sectors are expected by Barclays to be the most active for M&A during the next year. This week alone, Energy Transfer LP agreed to buy WTG Midstream in a $3.25 billion deal, while ConocoPhillips announced a $17 billion deal for fellow producer Marathon Oil Corp. SourceContinue Reading
Saudi Aramco’s $12 billion share sale sold out shortly after the deal opened on Sunday, in a boon to the government that’s seeking funds to help pay for a massive economic transformation plan. SourceContinue Reading
The oil and gas and basic industry sectors are expected by Barclays to be the most active for M&A during the next year. This week alone, Energy Transfer LP agreed to buy WTG Midstream in a $3.25 billion deal, while ConocoPhillips announced a $17 billion deal for fellow producer Marathon Oil Corp. SourceContinue Reading
Surge has now identified the potential for up to 100 multi-lateral drilling locations at Hope Valley. Surge’s technical interpretation of its recent 46 square kilometer 3-D seismic program has allowed the company to de-risk these future drilling locations in Hope Valley. SourceContinue Reading
Mineral Resources Development Company Limited (“MRDC”) and Twinza Oil Limited (“Twinza”) have obtained all internal approvals and executed a series of binding agreements for MRDC to take an up to 50% Participating Interest in the Pasca A Development Project. Additionally, the companies agreed to cooperate in the acquisition and development of other oil and gas...Continue Reading
Energy Workforce & Technology Council (EWTC) issued a statement applauding the introduction of S.4405, the “Natural Gas Tax Repeal Act,” by U.S. Senator Ted Cruz. If passed, the act would repeal the recently implemented tax on methane emissions, a move that the EWTC believes is crucial for the future of the energy industry. SourceContinue Reading
The agreement reached in Riyadh on Sunday exceeds market expectations in some ways, extending so-called “voluntary” cuts from key members including Saudi Arabia and Russia well into next year. However, it also begins rolling back those supply reductions in October, earlier than some OPEC-watchers had assumed. SourceContinue Reading
Hess Corp. shareholders approved the company’s proposal to be acquired by Chevron Corp. for $53 billion by a razor-thin majority of 51% of shares outstanding. SourceContinue Reading
The loan for the Scarborough project, which is scheduled to deliver its first LNG shipment in 2026, will come from the Japan Bank for International Cooperation. The public financial institution has stepped-up efforts to secure LNG, including granting loans for fuel purchases. SourceContinue Reading
India’s Oil and Natural Gas Corporation Limited (ONGC), supported by ABL as tow master and marine warranty provider, has moved a record high 45 drilling rigs to new locations ahead of the Indian monsoon season. ONGC’s previous record was 37 rig moves. SourceContinue Reading
