Exxon Mobil – Page 24 – Oil & Gas 360

Canadian Oil Companies See Output Cuts Easing as Rail Capacity Grows

July 10, 2019

From Reuters Major Canadian oil companies, which publicly disagreed over the Alberta government’s forced curtailments this year, are in lockstep over how to end the production limits and reinvigorate the battered industry. Senior executives from Suncor Energy, Canadian Natural Resources, Imperial Oil Ltd and Cenovus Energy said at a TD Securities investor conference in Calgary on Tuesday that they are

Draft EIS Released for $43 Billion Alaska LNG Project

July 2, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Alaska Gasline Development Corporation receives FERC input for large proposed gas export project Last Friday, the Federal Energy Regulatory Commission (FERC) published its draft environmental impact statement (EIS) for Alaska Gasline Development Corporation’s Alaska LNG project, concluding that construction and operation would result in temporary, long-term and permanent impacts on the

W&T Offshore Enters $200 Million PSA

June 28, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 W&T Offshore to purchase Gulf of Mexico interests from ExxonMobil for $200 million W&T Offshore, Inc. (stock ticker: WTI), a Houston-based independent E&P, has entered into a sales and purchase agreement with ExxonMobil to acquire the company’s interests located off the coast of Alabama in the Gulf of Mexico. The transaction,

The Dead Cow Finally Produces Oil, a Century After Its Discovery

June 25, 2019

From Bloomberg Argentine shale formation sees first crude and LNG shipments, drillers still face many infrastructure, political challenges Along the western edge of Argentina’s Patagonia, on an arid steppe nestled against the Andes mountains, lies a shale formation known as the Vaca Muerta. And ever since engineers confirmed what an American geologist suspected a century ago — that the Vaca

Converge Midstream Beats Exxon, Magellan

June 19, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Riverstone Credit-backed company adds 6.5 million barrels of crude storage capacity Converge Midstream LLC, a crude oil storage and transportation company backed by Riverstone Credit Partners, has completed the acquisition of assets being sold off by Fairway Energy Partners, LLC as part of its chapter 11 restructuring. Fairway, after filing a

Vaca Muerta Basin Gets Green Light from Oil Major

June 11, 2019

ExxonMobil to proceed with long-term development, two-phase attack in South American shale play Tuesday morning, ExxonMobil (stock ticker: XOM) announced its plans to proceed with the long-term development of its assets in the Vaca Muerta basin in Argentina’s Bajo del Choique-La Invernada block. The project is to include 90 wells, a central production facility, and export infrastructure connected to the

Exxon Initiates New PSA, Seeks to Increase Production from Angola’s Block 15

June 5, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Partnership seeks to redevelop offshore asset ExxonMobil (stock ticker: XOM) has entered into a production sharing agreement with Angola’s recently established National Agency for Petroleum, Gas and Biofuels in order to further invest in the country’s offshore Block 15. Exxon’s Angola assets as of year end 2018 (source: Exxon 2018 financial

Oil Giants Won’t Bail Out Overpriced Independents in the Permian Basin

May 31, 2019

Permian drillers may have to be squeezed by weak prices for a bit longer before they dial down their expectations: Exxon CEO Woods From Bloomberg HOUSTON (Bloomberg) — Oil giants probably won’t be buying up the Permian basin’s struggling independent drillers any time soon. Years of costly exploration and frantic buying sprees have gutted shareholder returns in the world’s largest

ExxonMobil backs LNG imports to world’s biggest exporter

May 31, 2019

From Reuters BRISBANE (Reuters) – Imports of liquefied natural gas (LNG) to Australia – the world’s biggest LNG exporter – now appear “highly realistic” as the country struggles to fill a looming gas shortage, U.S. energy giant Exxon Mobil Corp said on Thursday. The assessment will add to the sense of urgency in the industry, which experts say needs at

Eni Wins Bid for Exploration Off Argentinean Coast

May 21, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Italian supermajor will have 80% stake Argentinian authorities awarded an Eni-led consortium the exploration license for block MLO 124, located approximately 100 kilometers off the coast of Tierra del Fuego in the Malvinas Basin. Block MLO 124 encompasses an area of 4,418 square kilometers, in water with depths ranging from

Exxon Mobil Staff Evacuation from Iraq ‘Unacceptable’: Oil Minister

May 20, 2019

60 foreign employees were reportedly evacuated from West Qurna 1 oilfield From Oil and Gas Middle East Iraq’s Oil Minister Thamir Ghadhban has called the evacuation of Exxon Mobil staff from the nation “unacceptable and unjustified,” according to Reuters. He noted that it was politically motivated and not based on security concerns. “The withdrawal of multiple employees – despite their

Exxon, Qatar Will Break Ground on $10 Billion Golden Pass LNG Plant Monday

May 10, 2019

Expect first shipments from Golden Pass in 2024 From Reuters Exxon Mobil Corp and Qatar Petroleum told the U.S. Federal Energy Regulatory Commission (FERC) on Thursday they would start construction of the $10 billion-plus Golden Pass liquefied natural gas (LNG) export terminal in Texas on May 13. Exxon and Qatar Petroleum made a final investment decision to build the project

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