Conventional

U.S. shale executives are bracing for more megadeals in the U.S. oil industry — and some fear the consequences of consolidation.

Permian Basin operator Callon Petroleum Co. is considering strategic options amid takeover interest from rival oil and gas players, people familiar with the matter said, as dealmaking accelerates in the U.S. energy industry.

Occidental Petroleum Corp. has agreed to acquire Texas shale driller CrownRock LP in a cash-and-stock deal valued at about $12.0 billion, including the assumption of $1.2 billion in debt, as consolidation heats up in North America’s most-prolific oil basin.

U.S. oil producers are about to ease up on their growth in capital spending, indicating that the pace of shale output may slow down after American production rose to record levels this year.

Endeavor Energy, the largest closely-held oil and gas company in the Permian basin, is exploring a sale that could value it between $25 billion and $30 billion, according to Reuters.

(WO) — Vitesse Energy has acquired additional oil and gas interests in the Williston basin of North Dakota, resulting in approximately $50 million of acquisition and related development capital expenditures, primarily in the third and fourth quarters of 2023., the company said on Oct. 9.

(WO) — Halliburton Co. has announced the implementation of the Auto Pumpdown service within Halliburton’s hydraulic fracturing business. The Auto Pumpdown service enables wireline and pump automation during unconventional completions operations.

The plugging work at the Houston orphaned well will ensure that no hydrocarbons can leak from the well and pollute groundwater in the area. There has been no evidence of prior pollution.

Texas became the first state in the nation to begin plugging abandoned oil and gas wells using federal grants from the Infrastructure Investment and Jobs Act.

As our industry transitions over the coming years toward fully decarbonized energy, we will be facing the imperative of answering the demand for conventional energy with new priorities on capital stewardship, increased productivity, and greater environmental sustainability. Investing billions of dollars in large new greenfield developments will become more and more difficult to justify. Operators will turn to their existing assets to connect additional resources and extract more oil and gas from them, with the priority on projects with low breakeven, low carbon, and short payback. Electrification of production systems will provide answers for this situation. But while operators fully understand the value of electrification for greenfield developments, its benefit for existing mature fields is less well known. This webcast will focus on the benefits of electrification for wells, subsea, and topside in brownfield applications. During this discussion, we will expand on the new capabilities enabled by electric systems that will help push existing frontiers. In addition, we will address some beliefs and myths and demonstrate that incremental investment costs for electrification of existing fields can return a large value while reducing the carbon footprint of our industry.

The Railroad Commission of Texas will soon begin plugging more wells to continue its strong track record of plugging abandoned oil and gas wells in Texas.

Touchstone Exploration Inc. announced that the company received the Certificate of Environmental Clearance it needed to conduct development operations within the Cascadura area of the Ortoire block.

During this 60-minute workshop, we will discuss the following: 1) No Pressure — Learn More About Spontaneous Imbibition presented by Dr. Aaron Sanders, Technical Director of Oilfield Solutions from Stepan Oilfield Solutions. 2) Oilfield Chemistry — the Move from Design to Application presented by Brian Price, Vice President- Technology from Rockwater Energy Solutions

Touchstone Exploration Inc. is preparing for the Trinidad and Tobago Environmental Management Authority to make a final decision on a Certificate of Environmental Clearance for its oil and gas exploration project by September 15.

Billionaire Harold Hamm may trigger a bidding war for Continental Resources Inc. with his $4.3 billion takeover offer for the shale powerhouse he founded.

BP sold out of Canada’s oil sands, divesting its stake in the Sunrise project to Cenovus Energy Inc. while acquiring offshore exploration from the same company in the east of the country.

Libya’s parliament-backed prime minister said closed oil fields and ports in the OPEC country may soon reopen, though his rival’s energy minister said negotiations with protesters were proving difficult.

More than 100 oil and gas projects should commence operations in Nigeria during the next four years, accounting for more than 24% of the predicted total projects starts during that time, predicts GlobalData.

South Sudan is taking steps to take over the operations of international oil companies in the country to increase its share of revenue, even as production declines, according to a government official.