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Top Upstream Stories

Talos Energy to announce fourth quarter 2022

Talos Energy Inc. intends to release fourth quarter 2022 results for the period ended December 31, 2022, on Tuesday, February 28, 2023, after the U.S. financial market closes. In addition to this release, Talos will host a conference call, broadcast live over the internet, on Wednesday, March 1, 2023, at 10:00 AM Eastern Time (9:00 AM Central Time). Listeners can access the conference call through a webcast link on the Company's website at: https://www.talosenergy.com/investor-relations/events-calendar/default.aspx. Alternatively, the conference call can be accessed by dialing (888) 348-8927 (U.S. toll-free), (855) 669-9657 (Canada toll-free), or (412) 902-4263 (international). Please dial in approximately 15 minutes before the teleconference is scheduled to begin and ask to be joined into the Talos Energy call... > read more

Chesapeake Energy Corporation announces sale

Chesapeake Energy Corporation has announced that it has entered into an agreement to sell the Brazos Valley region of its Eagle Ford asset to WildFire Energy I LLC for $1.425 billion. "Today marks an important step on our path to exiting the Eagle Ford as we focus our capital on the premium, rock, returns and runway of our Marcellus and Haynesville positions," said Chesapeake President and Chief Executive Officer Nick Dell'Osso. "We remain actively engaged with other parties regarding the rest of our Eagle Ford position." Chesapeake has agreed to sell approximately 377,000 net acres and approximately 1,350 wells in the Brazos Valley region of its Eagle Ford asset, along with related property, plant and equipment. Average net daily production from these properties was approximately 27,700 barrels of oil equivalent (boe) (85 percent liquid) during the third quarter of 2022. As of December 31, 2021, net proved reserves associated with these... > read more

Matador Resources Announces Acquisition

Matador Resources Company has announced that a wholly-owned subsidiary of Matador has entered into a definitive agreement to acquire Advance Energy Partners Holdings, LLC, including certain oil and natural gas producing properties and undeveloped acreage located in Lea County, New Mexico and Ward County, Texas (the “Advance Transaction”). The consideration for the Advance Transaction will consist of an initial cash payment of $1.6 billion, subject to customary closing adjustments, plus additional cash consideration of $7.5 million for each month during 2023 in which the average oil price as defined in the securities purchase agreement exceeds $85 per barrel. Advance is a portfolio company of EnCap Investments L.P. (“EnCap”). The Advance Transaction is subject to customary closing conditions and is expected to close early in the second quarter of 2023 with an effective date of January 1, 2023. A short slide presentation summarizing... > read more

Marathon Oil Completes Eagle Ford Acquisition

Marathon Oil Corporation has announced the completion of its acquisition of the Eagle Ford assets of Ensign Natural Resources for a total cash consideration of $3.0 billion after taking into account closing adjustments. The acquisition was previously announced on November 2, 2022. "We are pleased to announce the close of our acquisition of Ensign's high-quality assets in the core of the Eagle Ford Shale," said chairman, president, and CEO Lee Tillman. "This acquisition satisfies every element of our disciplined acquisition criteria. It's immediately accretive to our key financial metrics, it will drive higher shareholder distributions consistent with our operating cash flow driven Return of Capital framework, it's accretive to our inventory life with attractive locations that immediately compete for capital, and it offers truly compelling industrial logic given our existing Eagle Ford footprint and our track record of execution excellence in the play."... > read more

ExxonMobil announces corporate plan

ExxonMobil has announced its corporate plan for the next five years, with a sizeable increase in investments aimed at emission reductions and accretive lower-emission initiatives, including its Low Carbon Solutions business. The corporate plan through 2027 maintains annual capital expenditures at $20-$25 billion, while growing lower-emissions investments to approximately $17 billion. This disciplined approach prioritizes high-return, low-cost-of-supply assets in the Upstream and Product Solutions businesses and supports efforts to reduce greenhouse gas emissions intensity from operated assets, as well as those emitted from other companies. Approximately $17 billion for lower-emission initiatives through 2027; an increase of nearly 15 percent Annual capital investments remain at $20-$25 billion through 2027 Earnings and cash flow growth expected to double by 2027, compared to 2019 Share-repurchase program expanded up to $50... > read more
Top Three Featured Upstream Articles
Air Products and AES Announce Plans

Air Products and AES Announce Plans

Air Products and The AES Corporation have announced plans to invest approximately $4 billion to build, own and operate a...
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North America Breaks Rig Loss Streak

North America Breaks Rig Loss Streak

North America added eight rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on...
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Rovco Appoints New Americas Director

Rovco Appoints New Americas Director

With its sights set on supporting the energy transition in the US market, Rovco - a UK-based provider of subsea robotics...
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Upstream News
Talos Energy to announce fourth quarter 2022

Talos Energy to announce fourth quarter 2022

Talos Energy Inc. intends to release fourth quarter 2022 results for the period ended December 31, 2022, on Tuesday, February ... > read more
Chesapeake Energy Corporation announces sale

Chesapeake Energy Corporation announces sale

Chesapeake Energy Corporation has announced that it has entered into an agreement to sell the Brazos Valley region of its ... > read more
Matador Resources Announces Acquisition

Matador Resources Announces Acquisition

Matador Resources Company has announced that a wholly-owned subsidiary of Matador has entered into a definitive agreement ... > read more
Marathon Oil Completes Eagle Ford Acquisition

Marathon Oil Completes Eagle Ford Acquisition

Marathon Oil Corporation has announced the completion of its acquisition of the Eagle Ford assets of Ensign Natural Resources ... > read more
Air Products and AES Announce Plans

Air Products and AES Announce Plans

Air Products and The AES Corporation have announced plans to invest approximately $4 billion to build, own and operate a ... > read more
ExxonMobil announces corporate plan

ExxonMobil announces corporate plan

ExxonMobil has announced its corporate plan for the next five years, with a sizeable increase in investments aimed at emission ... > read more
Upstream News
Expro Strengthens North Sea Position

Expro Strengthens North Sea Position

Energy services provider, Expro, has announced a new $50 million contract with North Sea operator Apache Corporation on its ... > read more
Halliburton Installs First Downhole

Halliburton Installs First Downhole

Halliburton Company has announced a successful installation of the industry’s first single trip, electro-hydraulic wet ... > read more
SLB Announces Award

SLB Announces Award

SLB has announced an award to its OneSubsea® business and Subsea Integration Alliance of a large contract by bp for its ... > read more
Borr Drilling Mexico Rigs Contracts

Borr Drilling Mexico Rigs Contracts

Borr Drilling Limited says that Perfomex, its joint venture company in Mexico, has entered into new contracts for the company’s ... > read more
North America Rig Count Drops Again

North America Rig Count Drops Again

North America dropped four rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on ... > read more
Exxon Completes Russia Exit

Exxon Completes Russia Exit

ExxonMobil has completed its exit from Russia, calling the departure an “expropriation” of its main Russian operation ... > read more
Upstream News
North America Breaks Rig Loss Streak

North America Breaks Rig Loss Streak

North America added eight rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on ... > read more
NOG Northern Delaware Basin Acquisition

NOG Northern Delaware Basin Acquisition

Northern Oil and Gas (NOG) has made public its acquisition of Northern Delaware Basin properties. NOG has entered into a ... > read more
Diamondback to Buy FireBird Energy

Diamondback to Buy FireBird Energy

Diamondback Energy has secured a definitive purchase agreement to acquire all leasehold interest and related assets of FireBird ... > read more
Collaboration on Ammonia in Alaska

Collaboration on Ammonia in Alaska

The Alaska Gasline Development Corporation (AGDC) has entered into an agreement with leading energy organizations to assess ... > read more
Environmental Partnership Annual Report

Environmental Partnership Annual Report

The Environmental Partnership has released its fourth annual report highlighting the industry’s efforts to reduce methane ... > read more
Talos Energy Acquires EnVen Energy

Talos Energy Acquires EnVen Energy

Talos Energy has announced the execution of definitive agreements to acquire EnVen Energy Corporation (EnVen), a private ... > read more
Upstream News
Rovco Appoints New Americas Director

Rovco Appoints New Americas Director

With its sights set on supporting the energy transition in the US market, Rovco - a UK-based provider of subsea robotics ... > read more
Biden Issues Offshore Drilling Rights

Biden Issues Offshore Drilling Rights

The Biden administration on Wednesday, September 14, issued oil and natural gas leases to companies that won the Gulf of ... > read more
Cuda Purchase Increases COPL’s Reserves

Cuda Purchase Increases COPL’s Reserves

Shares in Canadian Overseas Petroleum Ltd (COPL) surged on Monday, September 12, after the company reported a ‘material’ ... > read more
Deltastream’s Marten Hills Gamble Pays Off

Deltastream’s Marten Hills Gamble Pays Off

Deltastream Energy’s gamble six years ago - drilling for oil in a heavily forested area of northern Alberta with no pipeline ... > read more
Imperial/Air Products Hydrogen Contract

Imperial/Air Products Hydrogen Contract

Imperial has entered into a long-term contract with Air Products to supply low-carbon hydrogen for Imperial's proposed renewable ... > read more
Ohmium Signs Green Hydrogen Deal

Ohmium Signs Green Hydrogen Deal

US green hydrogen company Ohmium International has signed an agreement to provide 343MW of green hydrogen electrolyzers to ... > read more