TotalEnergies, in line with its commitment to achieving near-zero methane emissions by 2030, has announced a significant expansion in its monitoring and reduction strategies. The company will deploy continuous, real-time methane detection equipment across all its operated upstream sites, setting a new benchmark in the energy sector’s fight against climate change. Achieving ambitious methane reduction […]
Phillips 66, the Houston-based oil and gas giant, has been ordered to pay $604.9 million following a trade secrets lawsuit filed by Propel Fuels. A jury in California ruled in favor of Propel, a Sacramento-based low-carbon fuel retailer, accusing Phillips 66 of misappropriating proprietary marketing data and business strategies during acquisition negotiations. The verdict highlights […]
Saipem, the Italian energy services giant, saw its shares rise by 2.5% after securing a major $2 billion offshore contract from Saudi Arabian Oil Company (Saudi Aramco). The contract, under the Long-Term Agreement (LTA), involves developing the Marjan field, a critical asset in Saudi Arabia’s offshore oil and gas production strategy. Saipem’s project scope includes […]
TGS, a leading global provider of energy data and subsurface intelligence, has been awarded a contract to conduct a 2D seismic survey offshore Sumatra, Indonesia. The survey, announced in September 2024, will be conducted using COSL’s HYSY 718 vessel and is expected to cover between 5,500 and 6,500 line kilometers across two regions in the […]
Shelf Drilling, a leading contractor specializing in shallow-water offshore drilling, has announced the acquisition of new contract awards for two of its jack-up rigs in West Africa. One of these contracts involves the Shelf Drilling Mentor rig, which has been awarded a 10-well contract estimated to last 450 days. The company noted that these new […]
Innovex, a provider of downhole products and technologies for the oil and gas industry, and Dril-Quip, a global manufacturer of highly engineered drilling and production equipment, have announced the successful completion of their merger. The merger combines the strengths of both companies to form a unique energy industrial platform designed to provide enhanced product offerings […]
SK Earthon, a subsidiary of South Korea’s SK Innovation, has successfully secured the operatorship of the Ketapu Cluster, located off the coast of Sarawak, Malaysia. This development marks a significant milestone for the company as it strengthens its presence in Southeast Asia’s oil and gas sector. The announcement was made on SK Innovation’s official website, […]
Gran Tierra Energy Inc. has announced its intention to acquire the entire issued and to be issued share capital of i3 Energy Plc in a transaction valued at approximately £174.1 million (US$225.4 million). This acquisition, which will be executed through a court-sanctioned scheme of arrangement under Part 26 of the Companies Act, is set to […]
Permian Resources Corporation has announced a landmark deal to acquire approximately 29,500 net acres, including 9,900 net royalty acres, in Reeves County, Texas, and Eddy County, New Mexico. The purchase, valued at $817.5 million, will significantly expand the company’s footprint in the Delaware Basin. The transaction, set to close by the end of Q3 2024, […]
In a significant move within the industrial minerals sector, U.S. Silica Holdings, Inc. (NYSE: SLCA), a leader in diversified minerals and logistics for the oil and gas industry, confirmed that its shareholders approved the acquisition by Apollo Funds, managed by global investment powerhouse Apollo (NYSE: APO). This approval was secured during a special meeting on […]
