Following ConocoPhillips’ $9.7 billion acquisition of shale rival Concho Resources, Steven Ho, oil and gas analyst at GlobalData, a leading data and analytics company, offers his view on the acquisition: “This transaction is beneficial to both parties and in line with what has been expected for the industry in terms of merging opportunities,” Ho said. […]
Devon Merges with WPX
Devon Energy and WPX Energy announced Sept. 28 they have entered into an agreement to combine in an all-stock merger of equals transaction. The strategic combination will create a leading unconventional oil producer in the United States, with an asset base underpinned by a premium acreage position in the economic core of the Delaware Basin. […]
Blackbuck Acquires Water Infrastructure In Transaction with Cimarex Energy
Blackbuck Resources LLC, which designs, builds, and operates water infrastructure, announced it has closed on a transaction to purchase Cimarex Energy Co.’s Whites City water infrastructure in Eddy County, N.M. The acquired assets include approximately 65 miles of pipeline and 100,000 barrels per day of installed and permitted disposal capacity. As part of the sale, […]
Barnett Deal Brings $570 Million
Banpu Kalnin Ventures Corporation confirmed Oct. 2 that its affiliate, BKV Barnett LLC, closed its deal to acquire Devon Energy Corporation’s assets in the Barnett Shale on Oct. 1. The cash deal provides $570 million for the Barnett assets and up to $260 million in contingent payments over the next four years, based on oil […]
Almost $14 Billion for Pipelines At Risk in Post-COVID Recovery
Delays, obstruction, or cancellation of pipeline infrastructure projects are threatening at least $13.6 billion in economic activity, over 66,000 jobs and more than $280 million a year in state and local tax revenue at a time when America’s financial recovery from COVID-19 requires more investment and tax revenue, a new Consumer Energy Alliance report finds. […]
COVID-19 Impacts Industry’s Digital Technology Needs
Ninety percent of oil and gas executives agree that investment in technology and workforce are essential to surviving current market conditions, according to a new Ernst Young survey: Oil and Gas Digital Transformation and the Workforce Survey 2020.” In fact, some 58 percent of respondents said the COVID-19 pandemic has made investing in digital technology […]
Is Upstream O&G Consolidation Really Needed?
By Steve Hendrickson, Opportune/Ralph E. Davis Associates During the last two years, many observers, including me, have suggested that consolidation is needed in the upstream oil and gas industry. Logically, it’s the right response to a commodity-based business exiting a high-growth phase and facing low prices. If you can’t control prices, the thinking goes, then […]
RRC Inspections Continue on PHP
Inspectors with the Railroad Commission of Texas are continuing critical inspections of the Permian Highway Pipeline (PHP), one of the largest pipeline projects under construction in Texas in 2020. Stretching more than 400 miles from the Permian Basin to the Houston area, the pipeline will bring West Texas’ natural gas to the world market. Given […]
Oilfield Services Pressured By Plummet in Oil Price
Exploration-focused oilfield service (OFS) companies will be the sector facing the largest demand decline as a result of oil and gas producers cutting their capex and operating expenditure, followed closely by drillers, Fitch Ratings says. The impact will be felt across the entire OFS sector, but diversified companies and service providers working in regions with […]
OleumTech Opens Midland Office
OleumTech, a provider of wireless industrial automation and IoT solutions, announced in July the opening of a new office in Midland with a training facility that the company describes as state-of-the-art. The office will primarily accommodate and support customers in the region. The new location will house a full display of OleumTech products for demonstrations […]
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