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
Deals of the Week: Chevron Enters New Partnership in Canadian Atlantic with Repsol and Statoil
After the extremely busy start to 2012 last week, M&A activity slowed down considerably this week, with only a few deals breaking $100 million. Three major companies joined forces in one of the most significant deals of the week, as Chevron, Repsol and Statoil continued their Newfoundland partnership in the Orphan Basin exploration block EL .. read more
Deals of the Week: Total and Sinopec Make US Shale Moves as New Year Begins
US Shale was the big M&A headline-maker in 2011, and 2012 has started on the same track. Sinopec and Total were both involved in big money deals this week, spending a combined total of around $4.5 billion to enter emerging plays. Sinopec, one of 2011’s most active companies in the E&P acquisitions market, will be .. read more
Deals of the Week: ConocoPhillips is Biggest Spender in First Gulf of Mexico Lease Sale Since Horizon Disaster
This week, the Gulf of Mexico held its first lease sale since the Horizon oil spill of April 2010. The Western Gulf of Mexico Lease Sale 218 reaped a total of $337 million, with 20 companies gaining tracts. ConocoPhillips was the most prominent among the successful bidders, gaining the most tracts (75 – spending $159 .. read more
BG–Cheniere LNG Deal a Gamechanger as Asian Gas Markets Open to US Producers
The entire gas producing world can see a major opportunity in Asia right now. Prices for imported gas have been soaring as the energy crisis persists in various countries across the continent. The United States, despite its huge shale gas reserves, has been unable to act on this opportunity because it does not currently have .. read more
Weekly Energy Round-Up: Mozambique Gas Block Hits 10TCF as Aminex Suffers Setback in Tanzania
Anadarko Optimistic for LNG Future in Mozambique The continuing exploration and appraisal campaign in the Offshore Area-1 block delivered further success following the completion of the Camarão well in the Rovuma Basin, Mozambique. This is the fifth major gas discovery to be drilled in the block, de-risking and adding to resources which operator Anadarko estimates .. read more
Weekly Energy Round-Up: Chevron Commits to Wheatstone Project as China Looks Abroad For Shale Gas Investment
Wheatstone Project Gets Green Light This week, Chevron announced the final investment decision (FID) for its Wheatstone project in Western Australia. The initial $29 billion project involves the construction of two Liquefied Natural Gas (LNG) processing trains with a combined annual capacity of 8.9 million tonnes. The project received federal approval last week for an .. read more
Weekly Energy Round-Up: Tullow & Total Make Important Discoveries as Cairn Falters
Tullow Makes French Guiana Oil Discovery, New Basin Unlocked Tullow Oil this week announced a major success with its Zaedyus exploration well in French Guiana in South America. The Zaedyus exploration well was drilled in the Guyane Maritime license, and made an oil discovery, encountering 72 metres of net oil pay in two turbidite fans. .. read more
Deals of the Week: Hayward’s Vallares Announces Kurdistan Merger
Vallares Plc, the acquisition vehicle formed in June 2011 by former BP Chief Exec Tony Hayward and Nathaniel Rothschild, announced the $2.1 billion reverse takeover of Turkish company Genel Energy International Ltd this week. Not only is Genel the largest producer in the Kurdistan region, with production of around 41,000 boe/d, the company has major .. read more
Deals of the Week: ExxonMobil Replaces BP in Arctic JV with Rosneft
This week saw Rosneft potentially gain a new partner in the Kara Sea and Russian Arctic following the collapse of the BP agreement in May, after TNK-BP forced BP to cancel the deal through the courts. US giant ExxonMobil has stepped in with a total investment of $3.2 billion to gain a 33.3% interest in .. read more