Positive Industry News and Events
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Permian Resources Announces Strong First Quarter 2025 Results, Revised 2025 Guidance and Strategic Bolt-On Acquisition of Core Northern Delaware Basin Assets
MIDLAND, Texas – Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its first quarter 2025 financial and operational results, revised full year 2025 guidance and a strategic Northern Delaware Basin bolt-on acquisition. Recent Financial and Operational Highlights Reported crude oil and total average production of 175.0 MBbls/d and 373.2 MBoe/d Announced […] More
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APPROX $135 Million: Valaris Announces Contract Award for Drillship VALARIS DS-15
HAMILTON, Bermuda–(BUSINESS WIRE)– Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced today that it has been awarded a five-well contract offshore West Africa for drillship VALARIS DS-15. The contract is expected to commence in the third quarter 2026. The total contract value, based on an estimated duration of 250 days, is approximately $135 million, […] More
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SLB OneSubsea and Subsea7 Awarded EPCI Contract for bp’s Ginger Project
New way of working helps unlock final investment decision (FID) for project offshore Trinidad and Tobago HOUSTON, May 05, 2025 — SLB (NYSE: SLB) today announced the award of a substantial engineering, procurement, construction and installation (EPCI) contract by bp to its OneSubsea™ joint venture and Subsea7 for the Ginger project offshore Trinidad and Tobago. […] More
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Shell Eyes BP in Potential Mega-Merger
The global energy sector is abuzz with speculation following reports suggesting that Shell is evaluating a potential takeover of BP. While no formal move has been made, Shell is said to be working with advisers to assess the feasibility of such a deal, awaiting further declines in BP’s stock and oil prices before deciding whether […] More
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Chevron starts oil production from Ballymore Project in Gulf of America
Houston, Texas, April 21, 2025 — Chevron Corporation (NYSE: CVX) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. Ballymore, the latest in a series of Chevron projects to start up in the past year, represents another step towards the company’s goal to […] More
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U.S. Energy Development Corporation Expands Permian Footprint Acquiring $390 Million Asset and Announces Upsized Credit Facility
~20,000 net acres Significant multi-bench drilling inventory Upsize of USEDC’s syndicated revolving credit facility led by Citibank, N.A. from $165 million to $300 million Fort Worth, TX – U.S. Energy Development Corporation (USEDC), a Fort Worth-based exploration and production company focused on developing oil and gas projects for itself and its partners, has acquired ~20,000 […] More
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Double Eagle Energy Holdings V & Tumbleweed Royalty V With $2.5 Billion of Equity Committed
Double Eagle Energy and Tumbleweed Royalty Announce the Formations of Double Eagle Energy Holdings V & Tumbleweed Royalty V With $2.5 Billion of Equity Committed FORT WORTH, Texas & HOUSTON–(BUSINESS WIRE)–EnCap Investments L.P. (“EnCap”) and the team behind the Double Eagle family of companies (“Double Eagle”) announced today that they have expanded their strategic partnership […] More
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INEOS Energy completes the acquisition of oil and gas assets in US Gulf from CNOOC
The completion of the deal marks the third major investment by INEOS Energy in the USA, in the past three years and increases capital spend on energy assets by INEOS in the USA to above $3bn. The deal increases INEOS Energy’s global production to over 90 thousand barrels of oil equivalent per day. Brian Gilvary […] More
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Shell Greenlights 370-Million-Barrel Gato do Mato Pre-Salt Project in Brazil
English: Shell Brasil has made the Final Investment Decision (FID) on the Gato do Mato deep-water project in Brazil’s Santos Basin. The project, located offshore Rio de Janeiro state in the pre-salt area, is expected to significantly boost production with a floating production storage and offloading (FPSO) vessel capable of handling up to 120,000 barrels […] More
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$905 Million: Elk Range Royalties Closes Landmark DJ Basin Acquisition and Launches Elk Range Royalties III
DALLAS–(BUSINESS WIRE)–Elk Range Royalties (“Elk Range”) is excited to announce a landmark acquisition of a significant mineral and royalty position spanning approximately 250,000 net royalty acres (NRA) in the DJ Basin from affiliates of Occidental (NYSE: OXY). The $905 million transaction significantly expands Elk Range’s presence in a premier oil and gas region and aligns […] More
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APA Corporation and Partners Lagniappe Alaska and Oil Search Announce Significant Oil Discovery in Alaska’s North Slope at Sockeye-2 Exploration Well; Partners Proceeding with Further Evaluation and Testing
HOUSTON, March 17, 2025 (GLOBE NEWSWIRE) — APA Corporation (Nasdaq: APA) and its partners Lagniappe Alaska, LLC, an Armstong company, and Oil Search (Alaska), LLC, a subsidiary of Santos Limited, today announced preliminary results of the Sockeye-2 exploratory well. Apache holds a 50% working interest, operator Lagniappe and partner Santos each hold 25%. The Sockeye-2 […] More
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Murphy Oil Corporation Announces Strategic Acquisition of Floating Production Storage and Offloading Vessel in Gulf of America
Reduces Annual Operating Costs by Approximately $60 Million, Reaffirms 2025 Capital Expenditure Guidance HOUSTON–(BUSINESS WIRE)–Mar. 12, 2025– Murphy Oil Corporation (NYSE: MUR) today announced that a subsidiary has signed a Purchase and Sale Agreement to acquire the BW Pioneer floating production storage and offloading vessel (FPSO) from BW Offshore. The gross purchase price is $125 […] More
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$222Million ACQUISITION Complete: Vitesse Energy Announces Completion of Lucero Acquisition
GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)– Vitesse Energy, Inc. (NYSE: VTS) (“we,” “our,” “Vitesse,” or the “Company”) announced today the completion of its previously announced acquisition (the “Arrangement”) of Lucero Energy Corp. (TSXV: LOU, OTCQB: PSHIF) (“Lucero”). The Arrangement was approved by Vitesse stockholders and Lucero shareholders on March 5, 2025 and March 6, 2025, respectively, and […] More
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ExxonMobil Guyana marks five years of oil production
Guyana now the third largest per-capita oil producer in the world. ExxonMobil Guyana-led consortium achieving industry-leading performance. Strong collaboration with Guyana’s public and private sectors driving country’s transformative growth. Georgetown, Guyana – ExxonMobil Guyana will mark five years of oil production in Guyana on December 19, a significant achievement that underscores the transformative potential of […] More
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$10Billion+ O&G Investment: BP Unveils Strategic Reset to Drive Shareholder Value
BP has announced a major strategic reset aimed at increasing shareholder value through a fundamental reallocation of capital and enhanced performance measures. This shift marks a renewed focus on strengthening BP’s core businesses, optimizing investments, and ensuring sustainable long-term growth. According to a press release published this Wednesday (26th), the company’s revised strategy includes a […] More
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Shell to grow working interest in the Ursa platform in Gulf of America
Houston – Shell Offshore Inc. and Shell Pipeline Company (SPLC), subsidiaries of Shell plc (Shell), have signed an agreement to increase their stake in the Ursa platform in the Gulf of America. This will increase Shell’s working interest (WI) in its operated Ursa platform, pipeline, and associated fields from 45.3884% to a maximum of 61.35%, […] More
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$735mm Sale: ConocoPhillips announces agreement to sell interest in Ursa and Europa Fields
HOUSTON – ConocoPhillips (NYSE: COP) today announced it has entered into an agreement to sell its interests in the Ursa and Europa Fields and Ursa Oil Pipeline Company LLC to Shell Offshore Inc. and Shell Pipeline Company LP, subsidiaries of Shell plc, for $735 million subject to customary closing adjustments. The transaction also includes an […] More
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Sentinel Midstream’s “Texas Gulflink” Deepwater Port Receives Approval From U.S. Maritime Administration
DALLAS–(BUSINESS WIRE)–Sentinel Midstream LLC (“Sentinel”), a Dallas-based provider of crude oil midstream solutions, announced today that its “Texas GulfLink” deepwater crude oil export terminal has received its Record of Decision (“ROD”) from the U.S. Department of Transportation’s Maritime Administration approving its deepwater port license application. The ROD concludes a multi-year environmental and technical review of […] More
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