Bison, an Oklahoma based water infrastructure, logistics, and technology solutions provider, has acquired Woody Creek Midstream, a water midstream company in the South Central Oklahoma Oil Province play (SCOOP play). Financial terms of the deal were not disclosed by the parties. Woody Creek Midstream is anchored by a gathering agreement for more than 15 years […]
Wellspring Capital Management has acquired Cadence Petroleum Group, a distributor of lubricant and fuel products across the eastern and central US. The acquisition has been carried out by the New York-based private equity firm alongside the management of Cadence Petroleum Group. Financial terms of the deal were not revealed. Tyson Pugh – Cadence Petroleum Group […]
Swedish engineering firm Sandvik has agreed to sell its exploration business to Drillman, a subsidiary of the M Group of companies, which is fully owned and operated in Australia. Drillman caters to the geotechnical, mineral exploration, horizontal, directional, and upstream gas drilling and other sectors with equipment and technical support. As part of the deal, […]
Noble Energy said that its shareholders have approved the company’s pending all-stock merger worth $5 billion with rival US oil and gas company Chevron. The company’s shareholders also approved other proposals pertaining to the merger at its special meeting of shareholders. Noble Energy and Chevron expect to wrap up their merger early in Q4 2020. […]
ExxonMobil and Hess have sanctioned the $9 billion Payara oil project in the Stabroek Block in Guyanese waters having secured government approval. The final investment decision (FID) taken on the Payara development project paves the way for the Payara discovery brought into production by taking up drilling of 20 production wells and 21 injection wells […]
Devon Energy has agreed to acquire rival Oklahoma-based oil and gas company WPX Energy in an all-stock deal worth $2.56 billion. The merger of the companies is expected to create a major unconventional oil producer in the US with a combined enterprise value of around $12 billion. The asset base of the enlarged oil and […]
Breidablikk oil project : Equinor and its partners Petoro, ConocoPhillips Skandinavia, and Vår Energi have approved the development of the Breidablikk oil field in the Norwegian North Sea with an investment of NOK 18.6 billion ($1.96 billion). The partners will submit the plan for development and operation of the Breidablikk field to the Norwegian Minister […]
French oil and gas giant Total said that it has reached an agreement to transfer to its equity interest in five exploration blocks in the Foz do Amazonas Basin in the Brazilian waters to Petrobras. The agreement marks the exit of Total from the Foz do Amazonas Basin. The five blocks – FZA-M-57, FZA-M-86, FZA-M-88, […]
British energy services company Wood has bagged an engineering, procurement, construction, and installation (EPCI) services contract worth $84 million from Equinor in the Norwegian North Sea. As per the terms of the contract, Wood will supply all topside modifications at Equinor’s Grane platform, which will be prepared to enable the tie-back of the Breidablikk subsea […]
Jinzhou 25-1 oilfield 6/11 project : Chinese national oil company CNOOC said that it has started production from the Jinzhou 25-1 oilfield 6/11 area in the Bohai Sea in China. Located in central Liaodong Bay, the Jinzhou 25-1 oilfield 6/11 area is contained in an average water depth of 22.5 meters. Apart from completely using […]