Oil benchmark prices on Oct. 14 slipped from gains made on Oct. 11 with light, sweet crude oil prices on the New York market and Brent crude oil prices in London both falling more than $1/bbl.
Neptune Energy has agreed to buy Edison Exploration & Production’s upstream assets offshore the UK and Norway from Energean Oil & Gas, which has a conditional agreement to acquire Edison E&P.
California has six new laws that Gov. Gavin Newsom says makes the state “a leader in the fight to transition away from fossil fuels.” The law responds to moves by the Trump administration to boost federal oil and gas leasing in the state.
Santos signed a deal to buy the northern Australian assets of ConocoPhillips for $1.39 billion. In addition, Santos will pay a further $75 million contingent on a final investment decision being taken on the Barossa gas field development in the Timor Sea.
Parsley Energy Inc. has agreed to acquire Jagged Peak Energy Inc. in an all-stock transaction valued at $2.27 billion, including Jagged Peak’s net debt of $625 million as of June 30.
Oil benchmark prices traded higher on Oct. 11 with light, sweet crude oil prices on the New York market and Brent crude oil prices in London both increasing more than $1/bbl.
The Federal Reserve Bank of Kansas City’s third-quarter Energy Survey revealed that energy activity in the Tenth District decreased moderately and “expectations for future activity continued to decline.”
Equinor and its partners in the Snorre and Gullfaks developments have made a final investment decision for the Hywind Tampen offshore wind farm project in the Norwegian North Sea.
In its latest Monthly Oil Market Report, the International Energy Agency reduces its oil demand forecasts for 2019 and 2020, both by 100,000 b/d, to a respective 1 million b/d and 1.2 million b/d.
Ingrid Solvberg has been appointed director general of the Norwegian Petroleum Directorate, succeeding Bente Nyland. The Ministry of Petroleum and Energy has not yet set the date for the transition.
Light, sweet crude prices gained nearly $1/bbl on the New York market Oct. 10 while Brent crude prices gained in London with the December contract settling above $59/bbl. Natural gas futures continued their overall decline, falling to $2.22/MMbtu.
Daniel P. Rohling has succeeded Jon Wright as executive vice-president and chief operating officer of Halcon Resources Corp. following the company’s emergence from bankruptcy under Chapter 11 of the US Bankruptcy Code.
Light, sweet crude prices fell on the New York market Oct. 9 while Brent crude prices gained on the London market as oil investors awaited the resumption of US-China trade talks, scheduled for Washington, DC, on Oct. 10-11.
The global oil and gas industry needs to take more aggressive steps as it cautiously tries to address global climate change, speakers said during an Oct. 8 discussion at the Center for Strategic and International Studies.
