In exchange for $425 million in cash, Royal Dutch Shell (ticker: RDS) has sold off the company’s stake in assets held in the Gulf of Mexico, the transaction is expected to close in October. The sale agreement bodes well for its disposal talks in the North Sea, Gabon and New Zealand, according to sources, signaling buyers will meet its expectations
Believes peak production from the Johan Sverdrup offshore field could reach 380 MBOPD Norway-based Statoil (ticker: STO), the largest acreage holder on the Norwegian Continental Shelf (NCS), added to its portfolio by acquiring more than 37 million shares of Lundin Petroleum (ticker: LUPE). The acquisition, announced on January 14, 2016, is valued at SEK 4.6 billion (roughly US$540 million) and
No oil and gas companies were in attendance for Major League Baseball’s winter meetings (baseball’s equivalent of Christmas with its free agent signings, discussions, swaps and trades), but two industry giants independently agreed to a swap of their own on December 11, 2015. Norway’s Statoil (ticker: STO) and Spain’s Repsol (ticker: REPYY) will trade acreage positions in a non-cash, straightforward
CALGARY, AB–(Marketwired – Oct 5, 2015) – Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) Not for Distribution to U.S. Newswire Services or for Dissemination in the United States Ithaca Energy Inc. Third Quarter 2015 Operations Update 5 October 2015 Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) (“Ithaca” or the “Company”) provides an operations update following the end of the
Total sells North Sea midstream assets On August 27, Total (ticker: TOT) announced that it sold its FUKA and SIRGE gas pipelines, along with the St. Fergus Gas Terminal, to North Sea Midstream Partners for £585 million (approximately $905 million). The Frigg UK Pipeline (FUKA) is a 362-kilometer, 32-inch pipeline with a nominally capacity of 1,271 MMcf/d, while the Shetland
Falling oil prices threaten offshore oil and gas industry’s profitability in Britain’s North Sea If Brent crude, the North Sea benchmark, remains in the $60 to $70 range, at least 85% of British offshore oil and gas resources in the planning stages are at risk of being dropped, according to Wood Mackenzie. That could mean the abandonment of $27 billion
