Tag Archive

Equinor to acquire an additional 22.45% interest in the Caesar Tonga oil field

Equinor to acquire an additional 22.45% interest in the Caesar Tonga oil field

May 13, 2019 No Comments

Equinor has exercised its preferential rights to acquire an additional 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of USD 965 million in cash. This will increase Equinor’s interest from 23.55% to 46.00%. Anadarko remains the operator with a 33.75% interest, and Chevron retains its 20.25% interest. […]

BP approves Thunder Horse South Expansion Phase 2

BP approves Thunder Horse South Expansion Phase 2

May 8, 2019 No Comments

BP has sanctioned development of the Thunder Horse South Expansion Phase 2 project in the deepwater Gulf of Mexico. The project will further boost output at one of the largest oil fields in the Gulf of Mexico and marks BP’s latest major investment in the U.S. offshore region. The project is expected to add an […]

BP’s First quarter 2019 results

BP’s First quarter 2019 results

April 30, 2019 No Comments

Earnings and cash flow Underlying replacement cost profit for the first quarter of 2019 was $2.4 billion, compared to $2.6 billion a year earlier. The result reflected the weaker price and margin environment at the start of the quarter, partially offset by strong supply and trading results. Operating cash flow, excluding Gulf of Mexico oil […]

Shell announces deep-water discovery in Gulf of Mexico

Shell announces deep-water discovery in Gulf of Mexico

April 24, 2019 No Comments

Shell Offshore Inc. (“Shell”), a subsidiary of Royal Dutch Shell plc, today announced a significant discovery at the Blacktip prospect in the deep water U.S. Gulf of Mexico. Evaluation is ongoing and appraisal planning is underway to further delineate the discovery and define development options. Shell announces deep-water discovery in Gulf of Mexico “Blacktip is […]

Oil discovery in the deep-water US Gulf of Mexico

Oil discovery in the deep-water US Gulf of Mexico

April 24, 2019 No Comments

Operator Shell Offshore Inc. today announced a significant discovery at the Blacktip prospect in the deepwater U.S. Gulf of Mexico. Equinor holds a 19.1% working interest in the block. The Blacktip exploration well has encountered more than 400 feet (122 metres) net oil pay with good reservoir and fluid characteristics in the Alaminos Canyon Block […]

Shell to sell interest in Caesar-Tonga asset for $965 million

Shell to sell interest in Caesar-Tonga asset for $965 million

April 11, 2019 No Comments

Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, signed an agreement yesterday to sell its 22.45% non-operated interest in the Caesar-Tonga asset in the US Gulf of Mexico to Delek CT Investment LLC, a subsidiary of Delek Group Ltd (Delek). The total consideration for this deal is $965 million in cash. The […]

Apache Announces Fourth-Quarter and Full-Year 2018 Financial Results

Apache Announces Fourth-Quarter and Full-Year 2018 Financial Results

February 28, 2019 No Comments

Apache Corporation (NYSE, Nasdaq: APA) today announced its financial and operational results for the fourth-quarter and full-year 2018. Apache reported a loss of $381 million or $1.00 per diluted common share during the fourth-quarter 2018. When adjusted for certain items that impact the comparability of results, including primarily the impact of asset impairments in the […]

Noble Energy Announces Full-Year 2018 Results

Noble Energy Announces Full-Year 2018 Results

February 19, 2019 No Comments

Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or the “Company”) today announced fourth quarter and full-year 2018 financial and operating results. Fourth quarter highlights include: Organic capital expenditures funded by Noble Energy totaled $643 million, towards the low end of guidance. Sales volumes of 350 MBoe/d exceeded the top end of guidance, including record production […]

‘’Lower Your Costs, Or Die’’

‘’Lower Your Costs, Or Die’’

February 18, 2019 No Comments

Fracking and the booming short-cycle shale production in the Permian have revolutionized not only U.S. crude oil production. The prolific shale basin in West Texas and New Mexico has also shown U.S. supermajor Chevron that it needs to become more efficient in all of its other upstream operations, according to chairman and chief executive Mike […]

TechnipFMC Awarded iEPCI™ Contract

TechnipFMC Awarded iEPCI™ Contract

January 9, 2019 No Comments

TechnipFMC (NYSE: FTI) (Paris: FTI) has been awarded a integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by BP for the Atlantis Phase 3 project worth between $75 million and $250 million. Following final investment decisions from all partners, TechnipFMC will manufacture, deliver and install subsea equipment, including subsea tree systems, manifolds, flowline, umbilicals and […]

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