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Anadarko Petroleum Corp said on Feb. 1 a long-term agreement had been signed with the trading division of China's state-owned offshore oil and gas producer CNOOC Ltd to supply LNG from Mozambique.
Chesapeake Energy completed its acquisition of WildHorse Resource Development Corp. on Feb. 1, creating an Eagle Ford oil producing powerhouse.
The move is part of SSE’s wider strategy to focus on its core businesses of regulated networks, renewables, flexible thermal generation and business energy sales, the company said.
OMV and Sapura Energy Berhad have closed the agreement to form a strategic partnership, the company said on Feb. 1.
Results from Chevron reflected higher oil and gas production with output for the quarter up 156,000 barrels per day from a year earlier. Prices paid for its crude also rose.
Exxon Mobil said its oil and gas production in the Permian Basin, the largest U.S. shale basin, rose 90% over a year ago.
Oilfield services provider Weatherford, which has not reported a quarterly profit in four years, has struggled under the weight of a massive debt load since oil prices crashed in 2014.
In the Lower 48 Big 3—Eagle Ford, Bakken and Permian Basin—ConocoPhillips plans to grow production by about 19% this year.
Oil major Exxon Mobil said Jan. 31 it would create three new separate E&P companies, effective April 1, in an effort to double its profit by 2025.
Weir Group is close to selling a unit, which supplies pumps and valves to power and oil and gas industries, a source with knowledge of the matter told Reuters.
ConocoPhillips beat quarterly profit estimates on Jan. 31 as the world’s largest independent oil producer sold more oil at higher prices, sending its shares up 2 percent before the opening bell.
General Electric Co. said on Jan. 30 it would fold its battery storage and electrical grid units into its wind turbine and hydropower business to cut costs, speed decision-making and cater to surging demand for renewable power.