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Devon passing over 10,000 acres of Permian over to Carrizo Oil and Gas for $215 million | OutPut by Rig Lynx

August 17, 2018
| Archives

Houston-based Carrizo Oil & Gas said it’s growing in the booming Permian Basin by acquiring about 10,000 net acres from Oklahoma’s Devon Energy for $215 million. Carrizo said the acreage in West Texas’ Reeves and Ward counties fits geographically with its existing footprint in the Permian’s Delaware Basin. Last year and earlier in 2018, Carrizo sold all of its

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Energen Corporation next on the list for acquisition in the Permian for $9.2 billion | OutPut by Rig Lynx

August 17, 2018
| Archives

America’s Permian shale basin has seen another big money deal with Diamondback Energy Inc (NASDAQ:FANG) acquiring rival Energen Corporation (NYSE:EGN) for US$9.2bn. The all-stock deal is pitched at an implied takeover price of US$84.95 per Energen share, a premium of around 16% to Tueday’s closing price of US$73.14. Energen’s backers will receive 0.6442 Diamondback shares for each share

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End to Houston’s oil bust? | OutPut by Rig Lynx

August 16, 2018
| Archives

The Greater Houston Partnership has at last declared the end of the oil bust with almost all of the city’s major energy companies back in the black, ramping up spending and hiring to reflect higher crude oil prices and stronger profit margins. The energy sector’s steady recuperation gave way to full recovery in the second quarter, when 20

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US average refining capacity for this past week closed in on 18 million bpd | OutPut by Rig Lynx

August 16, 2018
| Archives

Gulf Coast refineries processed a record-high amount of crude oil last week, at 9.649 million barrels daily, the Energy Information Administration said in its weekly petroleum status report. The national total was also very high, at 17.981 million bpd. This summer has been very productive for U.S. refineries. The average capacity utilization rate at Gulf Coast refineries also hit a

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Oil and Gas top 5 for week 32 | OutPut by Rig Lynx

August 15, 2018
| Weekly Rundown

Its been 14 years since we lost a Hellfighter (1059 Views) Famed oilfield well control expert and firefighter Paul “Red†Adair died at age 89 in Houston August 7 2004. The son of a blacksmith, Adair was born in 1915 in Houston. He served with a U.S. Army bomb disposal unit during World War II…. Apache and KAAC to merge and

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Canada may impose “Safeguard†actions to protect domestic steel producers on US Tariff talk | OutPut by Rig Lynx

August 15, 2018
| Archives

Canada said on Aug. 14 it will consider a safeguard action on seven steel products to protect domestic producers from imports since the United States imposed tariffs against its major trade partner in March. Finance Minister Bill Morneau said a 15-day consultation period will be used to look at the harm or threat of harm to seven steel

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Mega Oil and Gas Projects Making a Comeback | OutPut by Rig Lynx

August 15, 2018
| Archives

Investors are about to find out whether the world’s largest oil companies have learned their lesson from $80 billion of cost blowouts in major projects during the era of $100 crude. From liquefied natural gas in Mozambique to deep-oil in Guyana, the world’s biggest energy companies are gearing up to sanction the first slate of mega-projects since the

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