More Companies News

Jonah Energy completes $1.8 billion purchase of Jonah field assets

Jonah Energy LLC, a Denver-based TPG Capital affiliate, has completed the acquisition of Jonah field operations in Sublette County, Wyo., from Encana Oil & Gas Inc., a wholly owned subsidiary of Encana Corp., for $1.8 billion, effective Dec. 1, 2013.

Statoil farms out more interest offshore Angola

Statoil ASA has farmed out 5% participating interest in the Eni SPA-operated Block 15/06 offshore Angola to Sonangol EP for $200 million.

RIL, partners press India over gas price

Reliance Industries Ltd. and partners have issued a notice of arbitration seeking action by the government of India on the price of natural gas produced from the deepwater KG-D6 block in the Bay of Bengal.

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International news for oil and gas professionals

Cairn India interim chief executive officer resigns

Cairn India Ltd. reported on May 2 that P. Elango, interim chief executive officer, has resigned for personal reasons.

Freeport-McMoRan to buy deepwater gulf assets for $1.4 billion

Freeport-McMoRan Oil & Gas LLC, a subsidiary of Freeport-McMoRan Copper & Gold Inc., has entered into a definitive purchase and sale agreement with Apache Corp. to acquire certain interests in the deepwater Gulf of Mexico, including interests in the Lucius and Heidelberg oil production development projects and 11 exploration leases, for $1.4 billion, effective May 1.

Encana to acquire Eagle Ford acreage for $3.1 billion

Encana Oil & Gas Inc., a wholly owned subsidiary of Encana Corp., has reached an agreement with Freeport-McMoRan Oil & Gas LCC, a subsidiary of Freeport-McMoRan Copper & Gold Inc., to acquire 45,500 net acres in Karnes, Wilson, and Atascosa counties, part of the Eagle Ford shale in South Texas, for $3.1 billion, effective Apr. 1.

Devon, Cimarex to acquire Cana-Woodford assets

Devon Energy Corp., Oklahoma City, and Cimarex Energy Co., Denver, reported entering into an acquisition scheme for assets primarily in the Cana-Woodford shale play in western Oklahoma.

Statoil’s Lund cites three global challenges for oil, gas

The global oil and gas industry will simultaneously need to become more economically competitive, environmentally benign, and socially responsible if it expects to survive, Statoil ASA Chief Execute Helge Lund suggested.

OTC: Nova Scotia seeks bids in active eastern Canada offshore

Exploration and development remain brisk offshore eastern Canada, provincial officials reported May 6 at the Offshore Technology Conference in Houston.

Falcon farms out portion of Beetaloo basin permits

Falcon Oil & Gas Ltd., Dublin, has farmed out a portion of its exploration permits in the Beetaloo basin onshore Northern Territory to South Africa’s Sasol and Origin Energy of Sydney.

Sabine, Forest sign merger agreement

Sabine Oil & Gas LLC and Forest Oil Corp. have signed a definitive merger agreement under which the companies will combine their businesses in an all-stock transaction. The combined entity will be known as Sabine Oil & Gas Corp., headquartered in Houston, and led by Sabine’s current executive management team.

OTC: Shale, deepwater development present different challenges

The oil and gas industry continues to unlock greater resources both onshore and offshore—in shale formations and in deepwater. Growing production from these areas, particularly in the US, is the product of continuous innovation and the resources contained in both will play a critical role in meeting growing global energy demand.

OTC: Ocean-bottom seismic improves resolution for offshore subsurface

Streamer technology is not new, however, it has gone through many advances within the last 30 years. In 1980, 120 channels were considered advanced for a typical streamer run when shooting offshore seismic. “Today, we see 10,000 channels towed behind a single boat,” said David Monk, director, geophysics and distinguished advisor, Apache Corp.

Oxy reports decrease in US, worldwide 1Q production

Occidental Petroleum Corp. reported that its oil and gas production volumes in the first quarter averaged 745,000 boe/d, down from 763,000 boe/d in first-quarter 2013.

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