Marathon Oil Corporation (NYSE: MRO) has announced that it has received the requisite approval from its stockholders for the proposed merger with ConocoPhillips (NYSE: COP). The approval was granted during a special stockholder meeting, and Marathon Oil is expected to disclose the results in a Form 8-K filing with the U.S. Securities and Exchange Commission […]
ConocoPhillips (NYSE: COP) has reached a definitive agreement to acquire Marathon Oil Corporation (NYSE: MRO) through an all-stock transaction valued at $22.5 billion, including $5.4 billion of net debt. This strategic acquisition is set to significantly enhance ConocoPhillips’ standing in the energy sector by adding Marathon Oil’s high-quality, low-cost supply inventory to its portfolio. Transaction […]
ConocoPhillips and its partners have successfully commenced oil production from the Eldfisk North project, located in the Norwegian North Sea, marking a significant milestone with an investment of NOK13 billion ($1.24 billion). This project, positioned within the Greater Ekofisk Area, underscores a major advancement in offshore oil extraction in the region. Project Overview and Early […]
The Norwegian Offshore Directorate has given the green light to ConocoPhillips for the commencement of production at the Eldfisk North project. With an investment of NOK13 billion (approximately $1.24 billion), this project is set to begin operations in the southern Norwegian North Sea, marking a significant development in the region’s energy sector. The Eldfisk North […]
A US federal judge has upheld the Biden administration’s approval of ConocoPhillips’ Willow oil project located in the National Petroleum Reserve in Alaska (NPR-A), paving the way for the controversial drilling project in the Western Arctic. Court Ruling Amid Environmental Concerns US District Judge Sharon Gleason’s ruling responded to a lawsuit filed by Earthjustice, representing […]
Equinor, the operator of production licence 053, has announced a significant discovery of oil and gas at exploration well 30/6-C-2 A, dubbed “Lambda,” situated approximately four kilometres west of the Oseberg field in the North Sea. The initial findings suggest a substantial addition to the region’s resources, with an estimated 0.2 to 0.4 million standard […]
Aker BP has declared that the production from Kobra East & Gekko (KEG) in the Alvheim region has commenced, significantly ahead of its initially projected timeline of the first quarter of 2024. This venture is a collaboration with ConocoPhillips Skandinavia AS. Remarkable Execution and Significant Achievements Acknowledging the success, Aker BP’s CEO, Karl Johnny Hersvik, […]
Equinor confirms the Breidablikk field in the North Sea has initiated oil production four months ahead of its anticipated schedule, and remains within the established budget. This subsea field, linked to the Grane platform, boasts nearly 200 million barrels of recoverable oil. The primary stakeholders of the project include Equinor as the operator, Vår Energi, […]
TotalEnergies EP Canada Ltd. has successfully completed the sale of its 50% stake in the Surmont oil sands asset and related midstream commitments to ConocoPhillips. The transaction, valued at a base amount of C$4.03 billion (approximately US$3 billion), with potential contingent payments of up to C$440 million (about US$330 million), carries an effective date of […]
Sempra Infrastructure, a subsidiary of Sempra, has completed the sale of a 42% indirect, non-controlling interest in its Port Arthur LNG Phase 1 project in Southeast Texas to investment firm KKR. The transaction results in Sempra Infrastructure holding a 28% controlling interest in the project’s first phase, with ConocoPhillips retaining the remaining 30% stake. The […]