UpCurve Energy starts with focus on shales | Oil & Gas Journal

UpCurve Energy LLC is starting work focusing on development of unconventional resources with a $100-million line of equity commitment from partnerships managed by Post Oak Energy Capital LP. Both companies Houston-based.

UpCurve managers also are investing.

The company initially will focus on joint ventures, farmins, organic leasing, and acquisitions in US shale plays.

Its chief executive officer is Denis Pone, formerly of ConocoPhillips Corp. Zach Fenton, who also worked at ConocoPhillips, is chief operating officer.

More in General Interest

US Tenth District 3Q energy activity down ‘moderately’

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.”

191011 Equinor Hywind Windfarm

Equinor, partners make FID on Hywind Tampen development

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.

IEA lowers oil demand growth forecasts for 2019, 2020

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.

Solvberg appointed NPD director general

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.

MARKET WATCH: NYMEX gains nearly $1 on OPEC comments, US-China trade talks

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.

Rohling succeeds Wright as Halcon COO

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.

MARKET WATCH: Brent oil prices gain while NYMEX prices fall

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.

Industry urged to address climate change more aggressively

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.

Ofer Group lifts takeover bid for NZOG

Eyal Ofer’s Singapore-based OG Oil & Gas (OGOG) has increased its offer for minority stakeholders of New Zealand Oil & Gas Ltd. (NZOG) by 12¢ to 74¢ (NZ)/share.

EIA: US crude inventories increase 2.9 million bbl

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 2.9 million bbl for the week ended Oct. 4, according to data from the US Energy Information Administration.

MARKET WATCH: Crude oil benchmarks, US natural gas prices fall

Crude oil benchmarks ended slightly lower on New York and London markets on Oct. 8 while US natural gas future prices also declined after having recently snapped the longest losing streak since at least 1990.

191008 Eia October Steo Graph

EIA forecasts Brent to average $60/bbl in 2020

In its latest short-term energy outlook, the US Energy Information Administration forecasts global liquid fuels inventories in 2020 will build by an average of 300,000 b/d as supply growth outside OPEC outpaces growth in global liquid fuels demand.

Norwegian fund shedding oil sands holdings

Norway’s largest pension fund will divest holdings worth $58 million in Canadian oil sands producers because of their contributions to climate change.

Qatar Petroleum new operator of two fields

Qatar Petroleum has become operator of Idd El-Shargi North Dome and Idd El-Shargi South Dome oil fields offshore Qatar, replacing Occidental Petroleum of Qatar Ltd.