Fracking

ExxonMobil leads

Recent consolidation activity in the energy sector has led to the emergence of larger companies with increased ownership of producing assets, as highlighted by the Energy Information Administration. According to data cited by the EIA from Evaluate Energy, if both the proposed deals involving Exxon and Chevron are finalized successfully, ExxonMobil could potentially become the largest producer of crude oil and natural gas liquids in the United States. The company's projected output could reach approximately 1.3 million barrels per day, constituting nearly 7 percent of the total U.S. production. This would position ExxonMobil ahead of the current leader in production, Chevron.... > read more

Weyerhaeuser and Lapis Energy announce

Weyerhaeuser Company and Lapis Energy LP have recently announced the signing of an exclusive exploration agreement for subsurface carbon dioxide sequestration in Arkansas, Louisiana, and Mississippi. This agreement covers 187,500 acres of subsurface rights owned by Weyerhaeuser and encompasses five potential sequestration sites, including two locations previously identified by Weyerhaeuser as promising opportunities for carbon capture and sequestration (CCS) development. During the two-year exclusive agreement, Lapis will assess the sequestration potential of each site. Once the technical and commercial evaluations are successfully completed, Lapis will have the option to advance the sites into full-scale development agreements. This will involve obtaining the necessary permits, constructing the facilities, and operating permanent CO2 sequestration sites that cater to large-scale industrial sources... > read more

Diamondback Energy and Endeavor Energy merge

In a major development, Diamondback Energy, Inc. and Endeavor Energy Resources, L.P. have announced their merger in a definitive agreement valued at approximately $26 billion, including Endeavor's net debt. This merger will create a leading independent operator in the Permian region. Under the terms of the agreement, the transaction consideration will comprise approximately 117.3 million shares of Diamondback common stock and $8 billion in cash, subject to customary adjustments. The cash portion of the consideration is expected to be funded through a combination of cash on hand, borrowings, and proceeds from term loans and senior notes offerings. After the merger, Diamondback's existing stockholders are anticipated... > read more

Archer awarded contracts worth USD 125 million

Archer, a global provider of drilling services, is pleased to announce that its subsidiary in Argentina has been awarded additional drilling contracts worth a total of USD 125 million by Pan American, a leading player in the oil and gas industry in Argentina. One of the contracts is a 2.5-year extension for three drilling rigs operating in Pan American's Cerro Dragon Field. This extension, which comes with improved commercial terms, has a value of approximately USD 100 million and will run until the fourth quarter of 2027. The contract extension demonstrates Pan American's confidence in Archer's ability to deliver safe and cost-effective drilling operations... > read more

Eavor announces

Eavor Technologies Inc.,a pioneer in the field of advanced geothermal energy solutions have announced the successful completion of $182 million in financing. This significant investment will enable Eavor to accelerate the development and deployment of its revolutionary geothermal technology. The equity round was led by OMV AG, with participation from Canada Growth Fund, Japan Energy Fund, Monaco Asset Management and Microsoft’s Climate Innovation Fund. Existing investors BDC, bp Ventures, Eversource Energy, Temasek and Vickers Venture Partners contributed and supported the funding round, while Chubu Electric Power Co., Inc. completed the conversion of their debentures... > read more

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Crescent Point announces acquisition

Crescent Point Energy Corp. is pleased to announce that it has entered into an agreement with Spartan Delta Corp. to acquire...
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Schlumberger and RTI NAS Tech Scale Up

Schlumberger has entered into an agreement with RTI International, a non-profit research institute, to accelerate the industrialization...
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North America Drops Another Rig

North America dropped another rig week on week, according to Baker Hughes’ latest rig count, which was published on October...
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VAALCO Energy Announces Successful Drilling

VAALCO Energy Inc has announced the successful drilling of the South Tchibala 1HB-ST well that was drilled from the Avouma ... > read more

Pemex To Spud Well Offshore Mexico

Mexico’s national hydrocarbons commission CNH has approved plans submitted by state-owned company Pemex to run a shallow-water ... > read more

Texas Drilling Permits Up Substantially

The number of original drilling permits issued by the Railroad Commission of Texas in April 2022 rose 29 percent to 946, ... > read more

Shale Drilling Getting More Expensive

Inflation in the oil sector is worsening and industry executives see no reason to expect cost pressures on everything from ... > read more

Devon Energy’s New Mine Will Save $200k

Devon Energy Corp, one of the biggest oil explorers in the Permian Basin, is getting into the sand business to combat rising ... > read more

SPM Oil & Gas Introduces New Frac Iron System

SPM Oil & Gas, an upstream provider of pressure pumping and pressure control equipment and services, announced an innovation ... > read more

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Liberty Oilfield Posts Best Sales in Years

Liberty Oilfield Services Inc posted its best quarterly sales since going public more than four years ago as the global energy ... > read more

Halliburton Raises North American Spending Out

Halliburton Co said North American oil and natural gas drillers will lift spending by 35 percent this year, an increase from ... > read more

Permian Explorers Drill Deep Into Fracklog

Shale explorers in the Permian Basin chewed further into their supply of ready-made wells for a 20th straight month leaving ... > read more

Schlumberger Awarded Indian Fracking Contract

Oilex and Schlumberger have executed a Letter of Intent (LOI) for the Schlumberger supply of hydraulic fracturing services, ... > read more

Murphy Oil’s First Oil At Gulf of Mexico

Murphy Oil Corp has achieved first oil from the Khaleesi, Mormont and Samurai field development project in the deepwater ... > read more

Frac Sand Is Three Times More Expensive

Sand for fracking is now three times as expensive as it was last year, and it's one of several reasons US oil production ... > read more

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Shale Driller Rockcliff Energy $4 Billion Sale

Rockcliff Energy LLC, a private equity-backed natural gas explorer, has been speaking with advisors as it evaluates takeover ... > read more

APA Corp Completes In Delaware Basin

APA Corp has announced subsidiaries of the company completed the sale of a Delaware Basin mineral package to an undisclosed ... > read more

Resourcing Talent In Digital Oil And Gas

Candice Ragnes, E&P Consulting, Houston, US, reports on resourcing talent in digital oil and gas, and why the industry has ... > read more

Exxon Weighs Bakken Asset Sale

ExxonMobil Corp is considering a sale of assets in North Dakota’s Bakken shale after being approached by interested parties, ... > read more

US Should Subsidize Frackers

US President Joe Biden’s administration should step in to subsidize fracking operations, according to Michael Harris of ... > read more

API: Oil & Natural Gas Contribution

The US oil and natural gas industry supports the American economy like no other industry, says the American Petroleum Institution ... > read more

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Outlook For Shale Growth ‘Dire’

CERAWeek by S&P Global is being held in Houston, one of the energy industry’s biggest annual gatherings and one that hasn’t ... > read more

Enverus: Upstream M&A Up 25 Percent

Enverus has released its summary of 4Q21 and full-year 2021 US upstream M&A. In the second year of a COVID-influenced market, ... > read more

Vaalco’s First Well In 2021/2022 Campaign

VAALCO Energy, Inc has commenced its 2021/2022 drilling campaign offshore Gabon with the Etame 8H-ST well. Under a drilling ... > read more

Ashtead Technology Bolsters Rental Fleet

International subsea equipment rental and solutions specialist Ashtead Technology has further strengthened its rental fleet ... > read more

Hilcorp Employees In Line For $75k Bonuses

Oil driller Hilcorp Energy Co is lavishing $75,000 bonuses on employees as reward for reaching multi-year expansion and production ... > read more

US Well Services New Contract

US Well Services has entered into a contract to provide electric pressure pumping services for the operating subsidiaries ... > read more