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Akastor will create a leading provider of well-, reservoir- and software services through the combination of AGR and the Norway-based oil services investment company’s subsidiary First Geo.
San Ramon, Calif.-based Chevron said it plans to spend $3.6 billion to produce oil and gas in the Permian Basin of West Texas and New Mexico and $1.6 billion for other shale investments.
Shell, the largest foreign investor in Nigeria, said in a statement to Reuters that it had completed an internal review of the OML 42 sale process and other deals Peter Robinson, a former vice president for sub-Saharan Africa, was involved in, and it concluded his only violation was related to OML 42.
Transocean’s CEO said the Ocean Rig acquisition will enhance the Swiss-based drilling rig contractor’s fleet of ultradeepwater and harsh environment floaters without compromising its liquidity.
Russian gas giant Gazprom said on Dec. 5 it had begun operations at a third and final unit at its Bovanenkovo gas field on the Arctic Yamal peninsula, allowing it to boost natural gas production.
Faroe Petroleum's CEO Stewart said the deal with Equinor had been in the works before DNO launched its takeover offer last month and was not intended to stop the bid.
Brazilian state-controlled oil company Petrobras said it could raise $26.9 billion through asset sales and partnerships by 2023 as part of a new strategic business plan.
DEA Deutsche Erdoel agreed to buy independent Mexican company Sierra Oil and Gas at a time of growing uncertainty over the private sector's role in Mexico's oil industry.
The drop in fracking activity this year had been "significantly larger" than expected, Patrick Schorn, executive vice president of wells at Schlumberger, said at a conference in New York.
Chevron has decided to launch the sale of its stake in Azerbaijan's largest oil field as well as the Baku-Tbilisi-Ceyhan pipeline, the San Ramon, Calif.-based company said in a statement.
Several oil companies in Canada pushed back on Dec. 3 against Alberta's mandated cuts in crude production, warning about excessive government intervention even as the discount on Canadian crudes narrowed sharply on the curtailment plan.
Following the closing the GoM JV with Petrobras, Murphy Oil also raised its full-year capex outlook and expects to use some of the cash flow to accelerate activity in the Eagle Ford.