Two former associates of billionaire shipping and rig tycoon John Fredriksen are delivering out-sized returns by snapping up distressed and shunned oil-related assets. And they say it’s a bet that has plenty of room to run.
The Oil and Gas Authority (OGA) is to award 25 licenses for 111 blocks or part blocks to 17 companies in the 29th Offshore Licensing Round to enable further exploration and production across frontier areas of the UK Continental Shelf (UKCS).
Anadarko Petroleum Corporation recently announced its 2017 initial capital program of $4.5 to $4.7 billion along with its 2017 initial capital expectations and guidance.
Maersk Oil has, on behalf of the Danish Underground Consortium (DUC), reached an agreement with the Government of Denmark, which will facilitate future oil and gas investments in the Danish North Sea and protect industry jobs in Denmark.
DALLAS -- Pioneer Natural Resources Company has announced that it has signed a purchase and sale agreement with an undisclosed buyer to sell its previously-announced acreage package in northeastern Martin County, Texas, for $266 million, subject to normal closing adjustments.
Analysts following the $1.8 trillion-a-year oil market are tempering bullish price outlooks after the commodity lost about 10% of its value in less than two weeks amid ominous signs the worldwide supply glut may not be shrinking.
India’s Oil & Natural Gas Corp. is wading into deep waters, where energy giants BP Plc and Reliance Industries Ltd. found a sea of trouble.
Statoil has received consent to drill exploration well 7121/8-1 in production licence 849. The well is to be drilled in a prospect named Blåmann.
Sound Energy, the African and European focused upstream gas company, has announced that TE-8, the third well at the Company's Tendrara licence (onshore Morocco), has now been drilled to a final target depth, at a measured depth (MD) of 3,120 m, corresponding to a vertical depth of 3,066 m, some 359 m into the Paleozoic formation.
4Subsea will deliver services and research projects related to structural integrity of fixed and floating offshore installations.
As China’s biggest oil and gas producer prepares to report what may be its worst-ever earnings, investors are focused on billions of dollars that could be unlocked by a spinoff of its massive pipeline network.
Oil companies are starting to challenge the biggest utilities in the race to erect wind turbines at sea.
Oil rose as an increase in U.S. crude inventories was countered by a drop in fuel stockpiles in the world’s largest oil consumer.
Russia and Saudi Arabia head to this weekend’s OPEC committee meeting as the tortoise and hare of a global deal to cut oil supply, with Moscow sticking to a slow and steady pace despite Riyadh’s cajoling.
Algeria’s state-run energy producer plans to boost crude oil output by 14% in the four years to 2019 and invest billions of dollars in exploration projects.
U.S. Secretary of the Interior Ryan Zinke today announced that Lease Sale 247 for oil and gas parcels in the Gulf of Mexico garnered $274,797,434 in high bids for 163 tracts, covering 913,542 acres in the Central Planning Area of the Outer Continental Shelf offshore Louisiana, Mississippi, and Alabama.
Eni today announced that it has obtained majority stakes in two new exploration blocks off the shore of the Ivory Coast. The two blocks are located approximately 50 km from the country’s coastline.
Kalnin Ventures LLC has announced that it has signed a Purchase and Sale Agreement (PSA) on its third acquisition of a non-operating portfolio in the northeastern Marcellus shale play of Pennsylvania, on behalf of its investor Banpu Pcl.
GE Oil & Gas has opened a new facility in Takoradi Port, Ghana, expanding its global footprint and supporting local investment. The company committed to deliver more than 45,000 training hours for Ghanaian personnel over the next five years, as it seeks to build a world-class team locally.
Wintershall attained 165 MMboe in 2016, a historic level for the company, despite the difficult conditions in the industry. This means the company has increased its oil and gas production in the last 10 years by around 50%. During that time, Wintershall has doubled its commercially recoverable oil and gas reserves from 814 MMboe to 1.62 Bboe.