Oil Money Still Pouring into Eagle Ford
A new analysis by Evaluate Energy highlights the big differences in drilling costs between companies in North American shale plays. The data reveals how much companies are set to spend and how many wells they will drill in the coming year in each play, and provides a benchmark average cost of a drilled and completed .. read more
Greenhouse Gas Emissions: In Situ Oil Sands Producers Drive Efficiencies, But Integrated Operations Take a Step Back
While overall greenhouse gas (GHG) emissions from oil sands operations are still rising, some producers are improving their environmental performance, according to the latest available government data analysed by CanOils. Total GHGs from oil sands projects increased 9.3% to 62.8 million tonnes of carbon dioxide equivalent (CO2e) in 2010, this compared with an estimated 13% .. read more
Oil and Gas Finding Costs Still Soaring
Oil and gas finding costs are on the rise again as inflationary pressures return to the industry and as Major companies struggle to improve their exploration performance in terms of reserves found per well drilled. That’s the picture that emerges from the latest company data from Evaluate Energy. In this report we focus just on .. read more
Deals of the Week: INPEX to Partner With Shell on World’s First Floating LNG Project
The major deal for this week was INPEX’s purchase of a 17.5% interest in the Prelude FLNG project offshore Australia from Royal Dutch Shell. The terms of the deal were not disclosed by either party but the bulk of the benefit to Shell will be to have another partner to share the future development costs .. read more
Deals of the Week: Mitsubishi Enters Major Montney JV in Canada with Encana
In Mitsubishi, Encana has found a partner to fill the void left last year by PetroChina in its Cutbank Ridge asset, after the previous deal stumbled over a failure to agree on certain terms in the transaction. Rather than being a like for like copy of Petrochina’s $5.4 billion deal to acquire a 50% interest .. read more
Deals of the Week: Asian Asset Grab Intensified in North America
Government backed Asian companies made further moves for global oil and gas resources this week, with the target areas ranging from Canada and the United States to Australia. The largest deal came from INPEX Corp, who signed a $700 million transaction with Nexen to farm-in to a portfolio of assets primarily focused on the Horn .. read more
Deals of the Week: Majors Look to Frontier Regions for New Acquisitions
Some of the largest oil and gas companies in the world continued to venture into the less conventional regions of the world this week in their quest to locate their next megaproject. Fresh from their negotiation of exploration blocks in Kurdistan, ExxonMobil’s next target materialised via a farm-in of Block LB-13 in the ultra deep .. read more
Big Oil Shines Amidst Economic Gloom
The world’s largest oil and gas companies have been turning in impressive results in the third quarter despite the general economic gloom. The profit levels of the majors in particular offered a reminder of the heyday when oil was repeatedly trading at well above $100 per barrel and gas trading at sub $5 per mcf .. read more
Deals of the Week: BP-Bridas Deal Collapse Likely to Prove to be Blessing in Disguise
This week, Sinopec added to their already extensive investment in Brazil with a $3.5 billion deal with Galp Energia for a 30% interest in the company’s subsidiary, Petrogal Brasil. Sinopec had previously entered the Brazilian oil and gas sector, targeting the offshore pre-salt region when they took a 50% stake in Repsol Brasil for $7.1 .. read more
Deals of the Week: Oil and Gas M&A Still Rife Despite Jittery Markets
Over the past 6 months mass panic has gripped the financial markets, resulting in oil and gas stock prices diminishing by an average of 25% and the oil price by 15%, yet the thirst for oil and gas deals has shown little sign of being derailed, with depressed stock prices only serving to whet the .. read more