On the edge of the Canadian Rocky Mountains, companies including Obsidian Energy Ltd. and Yangarra Resources Corp. are breathing new life into a long-dormant gas reservoir — except now they’re drilling for oil. Both firms are fracing into the sandstone that makes up the Basel Belly River formation in an area southwest of the Alberta’s provincial capital Edmonton called Willesden Green. […]
VTX Energy Vitol Group is in late stage talks to sell its shale oil venture VTX Energy Partners LLC to a consortium of two private equity buyers – Carnelian Energy Capital and EnCap Investments, a deal that would mark a scaling back for the trader in U.S. upstream oil and gas production. The companies could sign the deal […]
CB&I has secured a contract from EnQuest to continue serving as duty holder for the Kittiwake platform in the UK North Sea through cessation of production (COP) and decommissioning. The award expands CB&I’s scope beyond late-life asset management to include production closeout and support for the platform’s decommissioning, marking the final phase of Kittiwake’s operating life. CB&I’s Asset Solutions business […]
U.S. liquefied natural gas exports are on track to become the nation’s second-largest net export industry by 2031, driven by accelerating investment, expanding export capacity and growing global demand, according to a new S&P Global Energy study. The report projects U.S. LNG feedgas demand will double to 36 Bcfd over the next five years—25% higher than previous base-case forecasts—as […]
Baker Hughes has completed its acquisition of Chart Industries, expanding its portfolio of industrial energy technologies and establishing Chart as the company’s third operating segment. The acquisition adds Chart’s capabilities in thermal management, air and gas handling, and lifecycle services, broadening Baker Hughes’ presence across markets including LNG, gas infrastructure, carbon capture and storage, nuclear, geothermal and […]
UK energy and union bosses have called on the country’s ruling Labour party to prioritize indigenous oil and gas production over imports, for the sake of energy security, jobs and climate goals, days before Andy Burnham is set to take over as prime minister. In an open letter to the Parliamentary Labour Party, dated July […]
With Middle East tensions starting to flare up again, experts have warned that tolls in the Strait of Hormuz look more of a certainty. Some concern has been raised about the impact this could have on international oil prices.
DPM/FM Ishaq Dar on Wednesday reaffirmed that increasing domestic oil and gas production remained a key priority of the government’s energy security agenda and assured full support to provide a secure and enabling environment for the sector. The DPM/FM chaired a meeting of the Committee on the Exploration and Production (E&P) sector. The committee reviewed […]
Greenfire Resources Ltd. signed a final agreement to acquire the assets of the oil and gas company Connacher Oil and Gas Limited for $907.4 million. This is reported in the Greenfire press release. The deal is aimed at expanding Greenfire’s production capabilities in the competitive oil sands market. By 2026, the Connacher Great Divide project in […]
SBM Offshore & Technip Energies Joint Venture (STS JV) and TotalEnergies have partnered with French company Beyond the Sea to evaluate kite traction towing for the FPSO vessel to be deployed in Suriname’s GranMorgu project, SBM Offshore said on Wednesday.