Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) has announced that the Company has entered into a series of definitive agreements to acquire a broad portfolio of U.S. Gulf of Mexico producing assets, exploration prospects and acreage from affiliates of ILX Holdings, Castex Energy and Venari Resources for $640 million as of the effective date.
A US$106 million (SGD$144 million) fund dedicated to preventing plastic from entering the Asian oceans was launched on December 4, 2019. The Circulate Capital Ocean Fund (CCOF) is the world’s first investment fund dedicated to address Asia’s plastic crisis. The Singapore-based fund is also one of the ten largest ASEAN-based Venture Capital Funds in the market.
In a pivotal shift, the US is only months away from full energy independence. By 2030, total primary energy production will outpace primary energy demand by about 30%, according to Rystad Energy’s latest forecast.
Abundant shale gas production in the US has enabled the country to export natural gas as liquefied natural gas (LNG) to global markets. This has supported the country in signing the highest volume of global long-term LNG export contracts in 2019, accounting for around a 67% share, according to GlobalData, a leading data and analytics company.
Chevron Corporation announces a 2020 organic capital and exploratory spending program of $20 billion. The 2020 budget supports a robust portfolio of upstream and downstream investments, highlighted by Chevron’s world-class Permian Basin position, the company’s major capital project at TCO in Kazakhstan, and an advantaged queue of deepwater opportunities in the Gulf of Mexico.
Barring additional oil production cuts by OPEC in 2020, Rystad Energy forecasts a substantial build of global crude stocks and a corresponding drop in oil prices.
Despite massive cuts in investment the US Gulf of Mexico is set for another year of record oil production in 2020, according to Rystad Energy.
GATE Energy announces the strategic expansion of its credit facility with Prosperity Bank. This demonstrates Prosperity's confidence with GATE Energy's performance and future growth. As part of this partnership, GATE Energy has access to additional capital that will fund organic growth and strategic acquisitions.
Aberdeen-headquartered Exceed, a well management and performance improvement specialist, has ended 2019 on a high, posting record results in the same week as it was listed within the 23rd annual Sunday Times Virgin Atlantic Fast Track 100.
McDermott International, Inc. (NYSE:MDR) ("McDermott" or the "Company") announces that it has been granted access to the second tranche ("Tranche B") of the $1.7 billion superpriority senior secured credit facility (the "Agreement") announced on October 21, 2019.
Global merger and acquisitions (M&A) and raising activity in the oil and gas upstream sector totaled US$63.4bn in Q3 2019, representing a 50% decrease from the US$126.8bn in M&A and capital raising deals announced in Q3 2019. By volume, the number of deals decreased by 30% from 338 in Q2 to 269 in Q3, says GlobalData, a leading data and analytics company.
Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.
Oil production from non-OPEC countries is expected to grow at record speed in 2020, creating a headache for the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to meet this week in Vienna to discuss extending oil production cuts.
According to a study, the autonomous underwater vehicle market is expected to be valued at US$ 371.3 Mn in 2019. During the course of the forecast period, the market is expected to register a CAGR of over 6%.
Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, based on Rystad Energy’s latest data and forecasts.
TechnipFMC has announced its intent to sell the G1201 vessel as part of its overall strategy to optimize the profile and size of its subsea fleet. Following the recent announcement of the Company’s alliance agreement with a best in class partner for pipeline installation using S-lay technology, this supports the Company’s intent to use collaboration agreements, where possible, to execute its differentiated iEPCI™ business model.
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