Jennifer
Pallanich
Hart Energy
E&P Highlights: April 29, 2024
Here’s a roundup of the latest E&P headlines, including a new contract award and drilling technology.
TotalEnergies Eyes Suriname FID by Year-end 2024
France’s TotalEnergies and U.S. partner APA Corp. look to place their long lead orders ahead of a final investment decision related to their joint development offshore Suriname in Block 58.
C-NLOPB Issues Call for Bids in Eastern Newfoundland
Winners of the Call for Bids No. NL24-CFB01 will be selected based on the highest total of money the bidder commits to spend on exploration of a parcel during the first six years of a nine-year license.
ProPetro to Provide eFrac Services to Exxon’s Permian Operations
ProPetro has entered a three-year agreement to provide electric hydraulic fracturing services for Exxon Mobil’s operations in the Permian Basin.
Kosmos Energy’s RBL Increased, Maturity Date Extended
Kosmos Energy’s reserve-based lending facility’s size has been increased by about 8% to $1.35 billion from $1.25 billion, with current commitments of approximately $1.2 billion.
Barnett & Beyond: Marathon, Oxy, Peers Testing Deeper Permian Zones
Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
NOV Announces $1B Repurchase Program, Ups Dividend
NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Repsol to Drop Marcellus Rig in June
Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
US Drillers Cut Most Oil Rigs in a Week Since November
The number of oil rigs fell by five to 506 this week, while gas rigs fell by one to 105, their lowest since December 2021.