BEAUFORT SEA SALE 124 SHOWS DISMAL RESULTS

The U.S. Beaufort Sea has, at least for the moment, lost some of its luster as an exploration frontier. That was apparent in Outer Continental Shelf Sale 124 in Anchorage last week. With virtually no competition and few if any apparent new play concepts, Sale 124 had the poorest results of a frontier federal sale off Alaska in memory. Industry officials in Alaska cited increased resistance by native and environmental groups to drilling off the North Slope as a factor, along with the

Jul 1st, 1991

In order to access this content, you must be logged-in and have an active subscription to the OGJ Premium Archive

More in Companies

Looney to succeed Dudley as BP chief

Bernard Looney will become group chief executive and a director of BP PLC in February, succeeding Bob Dudley, who will retire at the end of March.

191004 Husky Prince George Refinery

Husky finds buyer for Prince George refinery

Husky Energy Inc. has agreed to sell its 12,000-b/d refinery in Prince George, BC, to Tidewater Midstream & Infrastructure Ltd. for $215 million (Can.) in cash plus a closing adjustment for inventory.

Chevron sets new greenhouse gas reduction goals

Chevron Corp. has established new goals to reduce its net greenhouse gas (GHG) emission intensity. The company intends to lower upstream oil net GHG emission intensity by 5-10% and upstream natural gas net GHG emission intensity by 2-5% from 2016 to 2023.

Holly Energy, Plains form Cushing joint venture

Holly Energy Partners and Plains All American Pipeline have formed a joint venture, Cushing Connect Pipeline & Terminal. The JV will develop and construct a 160,000-b/d common-carrier crude oil pipeline connecting Cushing oil hub to a Tulsa refinery.

Petro Rio adds additional interest in Frade field

Petro Rio SA has closed on the deal to acquire Frade Japao Petroleo, a joint venture formed by Inpex and Sojitz that holds a 18.26% working interest in Frade field, a heavy oil and gas field in Brazil’s Northern Campos basin.

Boru Energy to seek African acquisitions

The Carlyle Group and former executives of Tullow Oil PLC have formed Boru Energy targeting acquisitions of oil and gas properties up to $1 billion in Sub-Saharan Africa.

Bellatrix studies strategic alternatives

Bellatrix Exploration has begun a court-supervised review of strategic and restructuring alternatives. From properties in West-Central Alberta, the company produced 35,917/boed of crude oil, condensate, NGLs, and natural gas in this year's second quarter.

Top 10 US upstream deals of 3Q 2019, Enverus.

US oil and gas M&A activity maintains momentum in third quarter

US oil and gas mergers and acquisitions activity surpassed $17 billion in this year’s third quarter, maintaining the momentum established in the second quarter, according to a recent report from Austin-based oil and gas data analytics company Enverus.

Mishra new OIL chairman, managing director

Sushil Chandra Mishra has become chairman and managing director of state-owned Oil India Ltd., succeeding Utpal Bora.

Fujita named Japex president, CEO

Masahiro Fujita has been named representative director, president, and chief executive officer of Japan Petroleum Exploration Co. Ltd.

Wulff becomes Oil Search managing director

Oil Search has reported that long-serving Managing Director Peter Botten will step down from the board on Feb. 25, 2020. He will be succeeded by Keiran Wulff, who is now Oil Search’s executive vice-president, Alaska, and president of Oil Search Alaska.

FAR acquires additional interest in offshore Gambian blocks

FAR Ltd., Perth, has acquired an additional 10% interest in the prospective exploration Blocks A2 and A5 offshore Gambia in West Africa.

Wintershall Norge selling transport stakes

Wintershall Norge has agreed to sell small interests in Norwegian natural gas transportation facilities, saying it is focusing on upstream work.

Citizen Energy to acquire Roan Resources for $1 billion

Citizen Energy Operating LLC, a Warburg Pincus LLC affiliate, agreed to acquire Roan Resources Inc., Oklahoma City, in an all-cash transaction valued at $1 billion. The deal includes Roan’s funded net debt of $780 million as of Sept. 30.