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Month: June 2021

Exxon commits to Baton Rouge refinery expansion

June 10, 2021
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Exxon Mobil Corp plans to invest $240 million to expand the crude slate and improve pollution control at its 502,500 barrel-per-day refinery in Baton Rouge, Louisiana, said the state’s governor on Wednesday. “We are delighted with Exxon Mobil’s decision to move forward with this important suite of projects,” Edwards said in a statement issued by his office. Edwards announced

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Oxy selling off some Permian assets for $508 million

June 10, 2021
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Occidental Petroleum Corp said on Thursday it would sell some of its acreage in Texas' Permian basin to an affiliate of private equity-backed Colgate Energy Partners III LLC for $508 million. The oil producer has cut jobs, production and the value of its assets after the pandemic hammered fuel demand, piling pressure on a company that had taken on

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Stena Drilling buys into digital lifting tech Intebloc

June 9, 2021
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The deal marks another milestone on Stena Drilling’s digital evolution, as it positions itself as one of the most digitally efficient and sustainable drilling contractors globally. With backing from Stena Drilling, Intebloc will accelerate its product development strategy. In addition, the investment will enable Intebloc’s diversification into construction, renewables and the marine sector globally. Ross McLeod, CEO at Intebloc

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Exxon makes new find on Guyana Longtail 3 prospect

June 9, 2021
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Exxon Mobil Corp said on Wednesday it has made a new discovery at Longtail-3 in the Stabroek Block offshore Guyana, as the U.S. oil major develops one of the world’s most important new oil and gas blocks in the last decade. Exxon operates the 6.6-million-acre Stabroek Block as part of a consortium that includes Hess Corp and China’s

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83% of Newfoundland and Labrador support offshore oil and gas

June 9, 2021
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Noia recently engaged a public opinion firm to survey Newfoundlanders and Labradorians about their support for the offshore oil and gas industry, and the Terra Nova Project specifically. Not surprisingly to Noia, the vast majority of respondents support the industry and efforts to ensure the Terra Nova Project undergoes the Asset Life Extension project and continues to

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Stena lines up new work for the fleet

June 9, 2021
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According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that Stena Drilling has secured two contract extensions and two new deals for its offshore rig fleet. Ultra-deepwater drillships Stena Carron and Stena DrillMAX have been awarded extensions by ExxonMobil for further operations offshore Guyana that will see the duo committed

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Valaris DS-18 (Relentless) continues with Chevron for 3 more years

June 9, 2021
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Valaris Limited announced that it has been awarded a three-year contract with Chevron in the U.S. Gulf of Mexico for drillship, VALARIS DS-18 (Relentless). The contract is expected to commence in the first quarter of 2022 in direct continuation of the current contract. After the Relentless completed its first five-year special periodic survey, Chevron signed the rig on

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Civita Resources acquires Crestone Peak

June 8, 2021
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Civitas Resources Inc said on Monday it would acquire oil and gas producer Crestone Peak Resources, as it looks to scale up in Colorado's Denver-Julesburg Basin. Civitas will be formed after the merger of Bonanza Creek Energy Inc. and Extraction Oil & Gas Inc closes and is expected to have an enterprise value of about $4.5 billion. Source: Reuters Join

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EOG names new CEO

June 8, 2021
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U.S. oil and gas producer EOG Resources Inc said on Monday President Ezra Yacob would succeed William Thomas as chief executive officer of the company, effective October. Thomas, CEO since 2014, would become non-executive chairman of the board after retirement as part of the succession plan, the company said. Yacob, a company veteran of 16 years, has previously served

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