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Top Upstream Stories

TotalEnergies embarks on LNG expansion

In a significant move towards diversification, TotalEnergies is extending its footprint in the LNG sector, adding a new chapter to its storied legacy in Texas. Building upon its rich history with the Port-Arthur refining and petrochemicals platform and its upstream assets in Barnett, Texas, TotalEnergies is now venturing into the LNG segment with the Rio Grande LNG liquefaction terminal project in South Texas. With all necessary permits secured and the investment decision for the first phase (17.5 Mtpa) made in July 2023, TotalEnergies is poised for substantial growth in LNG production. The terminal's startup is slated for 2027, marking a significant milestone in the company's LNG journey. TotalEnergies has committed to off-take 5.4 Mtpa of LNG for 20 years, propelling the company's US LNG export capacity to 15 Mtpa by 2030.... > read more

30 projects to reach FID in 2024

According to a new report from Wood Mackenzie, there could be up to 30 upstream projects with a size of over 50 million barrels of oil equivalent (boe) reaching Final Investment Decision (FID) in 2024. This represents an increase from the 22 projects in 2023. The report, titled "Class of 2024: benchmarking this year's upstream FIDs," highlights an anticipated rise in project activity this year, with an estimated $125 billion in investment and the potential for 14 boe to be sanctioned. Ross McGavin, principal analyst at Wood Mackenzie, noted that the delay or postponement of many projects in previous years is expected to lead operators to commit to a greater number of projects in 2024. McGavin further mentioned that National Oil Companies (NOCs) in the Middle East are set to have the most projects, while the Majors will also be active, particularly focusing on advantaged deepwater resources... > read more

Texas LNG advances

Texas LNG, a subsidiary of Glenfarne Energy Transition, LLC, and a four million tonnes per annum liquefied natural gas export terminal slated for construction in the Port of Brownsville, has garnered sufficient expressions of interest from leading project finance banks, propelling it towards the execution phase of project financing. Glenfarne has enlisted Latham & Watkins as Borrower’s counsel and Milbank as Lenders’ counsel for the issuance. The lenders involved have been steadfast supporters of Glenfarne, having spearheaded over $4 billion of financing to Glenfarne’s enterprises over the past decade, facilitating the acquisition and/or development of various energy transition-focused assets. Moreover, these banks boast active involvement in LNG, having contributed to approximately $44 billion of project finance debt to the U.S. LNG sector alone in the last 24 months.... > read more

ABL to support

Energy and marine consultancy ABL has secured a contract from LLOG Exploration to deliver marine warranty survey services for the subsea development of the Salamanca development project in the Gulf of Mexico. The Salamanca development project aims to develop the Leon and Castille oil fields in water depths ranging from 1,800 to 2,000 meters. The subsea aspect of the project includes installing three infield subsea pipeline systems and designing and fabricating subsea structures. These pipelines will connect the wellsite to the Salamanca floating production facility.... > read more

Baker Hughes secures

Baker Hughes an energy technology company, announced a significant contract award from Petrobras for integrated well construction services in the Buzios field, offshore Brazil. The integrated services project is set to start in the first half of 2025 and will include drilling services, drill bits, wireline, cementing, wellbore clean up, fishing, remedial tools, fluids, services and geosciences. Baker Hughes will provide these services across three rigs over the course of the multi-year contract.... > read more
Top Three Featured Upstream Articles
Baker Hughes’ emissions abatement technology

Baker Hughes’ emissions abatement technology

Baker Hughes, an energy technology company, has achieved a breakthrough in flare emissions monitoring through a collaboration...
> read more
Upstream oil & gas experts unite

Upstream oil & gas experts unite

Tank Storage News America are proud to be partnering with the Future Upstream Automation Summit on 26 September 2023 in Houston,...
> read more
Woodside approves investment in Trion

Woodside approves investment in Trion

Woodside, the Australian oil and gas company, has made a final investment decision to develop the Trion oil and gas resource...
> read more
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Copenhagen Infrastructure Partners acquires

Copenhagen Infrastructure Partners acquires

Copenhagen Infrastructure Partners, through its Energy Transition Fund (CI ETF I), has acquired a majority stake in a blue ... > read more
Talos Energy completes acquisition of EnVen

Talos Energy completes acquisition of EnVen

Talos Energy Inc. announced the completion of its previously announced acquisition of EnVen Energy Corporation. The Company ... > read more
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
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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
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
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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
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
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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
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