Occidental Petroleum is in talks to buy shale driller CrownRock LP, according to the Wall Street Journal, as the consolidation wave in North America’s most prolific oil field gathers momentum.
The company said it would carry out work with its FDS2, Constellation and Castorone vessels. It will carry out work from its Port of Georgetown base.
“Two decades later, we’re proud to be one of Shell’s chosen contractors to take part in the completion of this field’s life cycle.”
Occidental Petroleum is in talks to buy shale driller CrownRock LP, according to the Wall Street Journal, as the consolidation wave in North America’s most prolific oil field gathers momentum.
The company said it would carry out work with its FDS2, Constellation and Castorone vessels. It will carry out work from its Port of Georgetown base.
“Two decades later, we’re proud to be one of Shell’s chosen contractors to take part in the completion of this field’s life cycle.”
“Each new project supports economic development and access to resources that will benefit Guyanese communities while also helping to meet the world’s energy demand.”
“More than 20 months after their first cargo, Venture Global’s claim to still be commissioning a facility that, according to publicly available data, has been producing at around nameplate capacity for more than a year is simply unbelievable and increasingly untenable.”
TotalEnergies agreed to buy three natural gas-fired power plants in Texas from TexGen Power for $635 million as it looks to expand in the US market.
Elemental Energies, the wells specialist which has been on a run of acquisitions, is planning even more growth to meet operator demands.
ConocoPhillips jumped almost 6% after the oil explorer boosted investor payouts and raised its production outlook.
Vice president of exploration Mohd Redhani Abdul Rahman said the success would “drive further exploration for commercially viable hydrocarbon resources in the surrounding areas”.
“One of our competitors bid pushed the pricing up to a point where probably, our clients thought that they would look at the schedule and the timing and the constraints of that project.”
These low-liquid yield finds trap a “large proportion” of the discovered oil. These resources “will not be able to be developed and monetised unless infrastructure solutions for the evacuation of gas are put in place in tandem with the associated gas that is being recycled today in the current production operations”.
Chevron Corp. (NYSE: CVX) fell short of analysts’ expectations amid weak returns from its overseas refineries as the oil giant moves closer to the $53 billion purchase of storied rival Hess Corp.
Exxon Mobil Corp. (NYSE: XOM) Exxon Mobil Corp. and Chevron Corp. posted disappointing profits amid weak performances by their oil-refining and chemical businesses.
Lancetfish-2 found around 20 metres of net oil pay in a new interval, the government said.
Conoco is not alone in its pursuit of CrownRock, though.
The company had made a commitment to spend $31mn on the Chiapas blocks by February 2024.
Europe’s unloved oil majors seem to finally be winning back investors by refocusing on their core business, yet the valuation gap with their dealmaking US peers remains stubbornly wide.
Aberdeen oil field equipment supplier AISUS Offshore has announced a strategic partnership with Brazilian engineering firm SIMEROS.
Chevron Corp. (NYSE: CVX) agreed to buy Hess Corp. (NYSE: HES) for $53 billion, the latest major US oil takeover as the industry bets on an enduring future for fossil fuels.
“As political and policy volatility becomes a feature of the operating landscape, even private companies with a high risk appetite could be facing binding constraints when seeking to invest in Vaca Muerta and offshore plays,” the analyst said.
Harland & Wolff has confirmed a multimillion pound contract award for work upgrading the SeaRose floating production vessel stationed off Newfoundland.
A statement from Petroperu said authorities had arrested two of its workers. The two workers were a pipeline area supervisor and a community relations coordinator.
The builder said the FEED contract would provide an initial release of funds and would also commit a Fast4Ward hull for Whiptail.
The deal is apt to face tough antitrust scrutiny from the Federal Trade Commission.
Exxon Mobil’s head of shale remained in a Texas jail Sunday after he was arrested for sexual assault at a hotel near Houston last week, police said.
