Oil & Gas News

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Chevron Wins Venezuela Waiver Extension

Industry Headlines

Exxon Blasts Climate Suit as Trial Opens
Wednesday, October 23, 2019 Exxon Mobil Corp's lawyer slammed New York's securities-fraud case as the trial opened.

Oil Down as Report Shows Rising US Crude Stockpiles
Wednesday, October 23, 2019 Oil resumed its decline on indications U.S. crude inventories expanded for a sixth week, the longest run of gains in almost a year.

Oil Prices Rebound on Fund Manager Desperation
Tuesday, October 22, 2019 West Texas Intermediate (WTI) and Brent crude oil futures on Tuesday posted their first day-on-day gains since Nov. 17.

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Paulson Blasts Exec Pay in Callon-Carrizo Permian Deal
Tuesday, October 22, 2019 Paulson & Co. reiterated its opposition to Callon Petroleum's planned takeover of rival Permian Basin crude producer Carrizo Oil & Gas, this time targeting management compensation.

Chevron Wins Venezuela Waiver Extension
Tuesday, October 22, 2019 The Trump administration extended Chevron Corp's waiver to operate in Venezuela.

Oil Steady as Trade Hopes Build
Tuesday, October 22, 2019 Futures in New York and Brent crude in London were little changed after falling the past two days.

Oil Prices Post Losses
Monday, October 21, 2019 WTI and Brent crude oil futures retreated on the first trading day of the week.


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Exploration

Which Region Saw the Most Discoveries in 3Q?
Wednesday, October 23, 2019 South America and Europe saw the most oil and gas discoveries in the third quarter, according to GlobalData's new global oil and gas discoveries report.

Offshore Robot Initiative Wins Pledges from Operators
Monday, October 21, 2019 Offshore robot prototypes undergo testing. PHOTO SOURCE: OGTC

OPITO Unveils Roustabout Assessment Tool
Friday, October 18, 2019 Pictured are offshore workers performing roustabout duties. PHOTO SOURCE: OPITO

Colorado Cracks Down on Oil, Gas Drilling Near Homes
Friday, October 18, 2019 Companies planning to drill wells within 2,000 feet of a home should now expect additional scrutiny from Colorado's energy regulator.

Conventional Discovery Shortfall Demands Well Diversity
Monday, October 21, 2019 "Conventional wells not being drilled now won't be producing later on."

Brazil Pre-Salt Block Goes to Total-Led Group
Friday, October 11, 2019 A consortium of Total, QP and Petronas has won the C-M-541 deep offshore license in Brazil's pre-salt Campos Basin.


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Production

Johan Sverdrup Oil Arrives at Mongstad Plant
Tuesday, October 22, 2019 Oil from the giant Johan Sverdrup field in the North Sea has arrived at the Mongstad plant north of Bergen.

TechnipFMC Wins Woodside Subsea Contract
Friday, October 18, 2019 The EPCI contract corresponds to the Pyxis and Xena field developments.

Gulf Oil Production to Set Records Through 2020
Thursday, October 17, 2019 Annual oil production in the Gulf of Mexico is expected to jump to 1.9 million bpd in 2019.

US Shale Production on Track to Hit Almost 9 MM Bpd
Wednesday, October 16, 2019 The increase in shale oil production in the US reflects a month on month increase of 58,000 bpd.

OPEC+ Will Have to Cut Output Again
Wednesday, October 16, 2019 The OPEC+ group of oil producers will need to make deeper output cuts when they meet in December.

IEA Cuts Oil Demand Forecast as Economy Eclipses Saudi Attack
Friday, October 11, 2019 The International Energy Agency cut forecasts for growth in global oil demand, noting that fears of an economic slowdown are overshadowing the loss of supply during last month's attack on Saudi Arabia.


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Finance and Investing

McDermott Receives Financing But its Outlook Remains Uncertain
Monday, October 21, 2019 McDermott International Inc. secured $650 million of new financing from lenders to keep itself afloat, though the withdrawal of its 2019 outlook and high debt costs dragged its shares and bonds back down.

Aramco's IPO Comes in Midst of Rough Times for Saudi Markets
Thursday, October 17, 2019 Anyone buying into Saudi Aramco's initial public offering in anticipation of a quick rebound in the country's stock market may be in for a disappointment.

Buyer for Chevron's UK Fields Seeks Funds From Traders
Thursday, October 17, 2019 A unit of Delek Group is seeking alternative means of financing to complete its $2B acquisition of some of Chevron’s North Sea oil and gas assets.

Mozambique Votes Against Backdrop of $50B Gas Windfall
Tuesday, October 15, 2019 Mozambicans voted Tuesday in elections that have the highest stakes in the southeast African nation's history, after a campaign marked by violence, insurgent attacks and fallout from a debt scandal.

Aramco May Pay $450MM in Fees to IPO Advisers
Tuesday, October 15, 2019 Advisers working on Saudi Aramco's mammoth share sale may split a fee pool of as much as $450 million, making it one of the biggest IPO pay outs globally.

Goodnight Midstream Secures $500MM Investment from Tailwater
Wednesday, October 09, 2019 Private equity firm Tailwater Capital LLC has committed to investing more than $500 million to Goodnight Midstream, a company that builds and operates midstream oilfield water infrastructure for producers.


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Company Operations

Helix Reports Highest Quarterly Revenue Since 2014
Tuesday, October 22, 2019 4Q operations will face the normal winter slowdown in the North Sea and lower rates in the Gulf of Mexico.

Endeavour Energy UK Being Acquired by New North Sea Focused E&P
Tuesday, October 22, 2019 Waldorf Production Limited, a newly formed private oil and gas company based in Manchester, has announced it is acquiring Endeavour Energy UK Limited for an undisclosed sum.

AltaGas Canada to Be Acquired for C$1.7B
Tuesday, October 22, 2019 AltaGas Canada Inc., an energy infrastructure company, has agreed to be bought out for C$33.50 per share by the Public Sector Pension Investment Board and the Alberta Teachers' Retirement Fund Board.

TechnipFMC Wins Shell Perdido Contract
Tuesday, October 22, 2019 Shell has awarded TechnipFMC an iEPCI contract for its Perdido Phase 2 development in the US Gulf of Mexico.

Halliburton Plans Cost Cuts as 3Q Revenue Dips
Monday, October 21, 2019 The oilfield services company vows to "streamline operations" in the fourth quarter to generate $300 million in cost savings.

Schlumberger Reassessing North America Land Strategy
Monday, October 21, 2019 The strategic review of its US land market business is on the heels of weak regional performance during 3Q.


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