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Oil and gas companies have survived the worst of the downturn. Now it’s time to begin thinking about growth and developing a platform that can produce higher returns over the long term.
Industry veteran Blanchard will oversee all of Weatherford’s region and product line operations as COO.
The acquisition is expected to increase Total’s output to 3 MMboe/d by 2019.
Andrew G. Inglis, chairman and CEO of Kosmos Energy, said this secondary listing on the London Stock Exchang eis the next step in the Dallas-based company’s evolution.
The expected investment and output growth are part of a trend of new Mexican oil companies looking to exploit the energy reforms the country finalized in 2014.
The investment plans include drilling more wells in Colombia, where the company recently made a commercial discovery, and exploration activities in Kazakhstan and Bangladesh.
Nabors’ roughly $216 million acquisition of Tesco is ‘rare win-win in oil patch consolidation,’ analyst says.
Several provisions of the sanctions law signed by U.S. President Donald Trump earlier this month target Russia’s energy sector, which produces much of its foreign income, with new limits on U.S. investment in Russian companies.
The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean's position in offshore drilling as Songa is Statoil's largest drilling service provider.
On Aug. 12 Kuwait said various services were investigating the incident but did not give the magnitude of the spill near Kuwait's southern Ras al-Zour area nor its cause.
Tullow Executive Vice President Ian Cloke said in a speech during the launch in northern Zambia that exploration would take between two and 10 years, development three to 10 years and production 20 to 50 years.
The company sees investment in oil projects overseas as a way to compensate for lower domestic output by adding reserves and external production to its portfolio while gaining know-how, Pemex exploration chief Jose Antonio Escalera said.