Formation Minerals, Inc. (OTCQB: FOMI), a burgeoning oil and gas company, announced a strategic expansion through the acquisition of producing mineral interests in Bienville Parish, Louisiana. The deal, valued at $220,000 in cash, involves the purchase of certain mineral interests from a private seller, with the closure expected around July 26, 2024. Subject to customary […]
Eni, a global leader in the energy sector, has reached a definitive agreement to sell its entire stake in the Nikaitchuq and Oooguruk oil fields in Alaska to Hilcorp, one of the largest private energy companies in the United States with extensive operational experience in the region. This transaction underscores Eni’s strategic focus on optimizing […]
In a strategic expansion of its portfolio, TXO Partners, L.P. (NYSE: TXO) has inked agreements to acquire significant oil and gas assets in the Elm Coulee field in Montana and the Russian Creek field in North Dakota. The deal, valued at $243 million plus 2.5 million common units of TXO, was finalized with Eagle Mountain […]
Vallourec, a prominent global provider of tubular solutions, has secured a significant extension with the National Oil Company of Abu Dhabi. This extension, which continues a relationship established in 2019, is valued at approximately 900 million USD. Set to commence in January 2025 and conclude in January 2027, the deal underscores Vallourec’s strategic importance in […]
Wintershall Dea has announced a significant find of gas, condensate, and oil at well 35/11-27 S, situated 100 kilometres southwest of Florø in the North Sea. This exploration, termed “Cuvette,” occurred within production licence 248, originally awarded in 1999. The well tapped into resources across four distinct geological formations, marking a notable stride in the […]
Veren Inc. (formerly known as Crescent Point Energy Corp.), listed on both TSX and NYSE under the ticker VRN, has finalized the sale of certain non-core assets in Saskatchewan to Saturn Oil & Gas Inc. for a total of CAD 600 million (approximately $ 540 million, including closing adjustments). This strategic move is part of […]
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has agreed to sell its wholly-owned subsidiary TotalEnergies EP (Brunei) B.V. to Hibiscus Petroleum Berhad, a Malaysian independent oil and gas exploration and production company, for a total consideration of $259 million. This transaction, expected to close in the fourth quarter of 2024, marks a significant realignment for TotalEnergies as it […]
Aker Solutions, a global leader in engineering, procurement, and construction services, has recently secured a significant long-term frame agreement valued between NOK 0.5 billion and NOK 1.5 billion with Azule Energy. This agreement marks the continuation of Aker Solutions’ collaboration with Azule Energy, Angola’s largest independent equity producer of oil and gas, a joint venture […]
In a significant expansion of its offshore portfolio, Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG) has announced a major acquisition in the Orange Basin, off the coast of South Africa. The oil and gas exploration company, through its wholly owned subsidiary, Azinam South Africa Limited, will acquire a 75% working interest from […]
In a major offshore oilfield development, Subsea 7 S.A. has been awarded a super-major contract valued at over $1.25 billion by Petrobras. The contract, won through a competitive tender, entails the development of the Búzios 9 field, which is located about 180 kilometers offshore from the state of Rio de Janeiro, Brazil. The field is […]