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Pacific Drilling Files for Chapter 11 Bankruptcy Protection
November 20, 2017
Offshore oil and gas drilling firm Pacific Drilling has filed for bankruptcy protection under Chapter 11 in the US, in a bid to pursue a comprehensive restructuring of its approximately $3bn in principal amount of outstanding funded debt. The filing,
GulfMark Offshore Completes Restructuring Plan and Emerges from Chapter 11
November 20, 2017
GulfMark Offshore has completed its financial restructuring plan and emerged from bankruptcy protection under chapter 11 of the US Bankruptcy Code. The Company’s court-approved Plan of Reorganization (the “Plan”) went into effect today, November 14, 2017. The Plan converts approximately
Praxair and BASF to Build New Syngas Processing Plant, Louisiana
November 17, 2017
Praxair, Inc. and BASF signed a long-term agreement for Praxair to design, build, own, and operate a new syngas processing plant at BASF’s facility in Geismar, Louisiana. The new plant, which will start up in 2020, will produce high-purity carbon
Incremental Oil and Gas Starts Recompletion Program at Silvertip Gas Field in Bighorn Basin, Wyoming
November 16, 2017
Incremental Oil and Gas says that it has commenced the gas recompletion program at its Silvertip Field located in the Bighorn Basin, Wyoming, US. Following is the update given by the company for the Silvertip Field: • First Lance Formation
Chevron Phillips Opens Polyethylene Units at $6 Billion USGC Petrochemicals Project, Texas
November 16, 2017
Chevron Phillips Chemical Company has commissioned the two polyethylene (PE) units of its $6bn US Gulf Coast (USGC) Petrochemicals Project. Located in Old Ocean, Texas, the new PE assets will have capacity to produce up to 1,000,000 metric tons annually
Cenovus to Divest Its Stake in Weyburn Oil Project to Whitecap for $940 Million, Canada
November 16, 2017
Cenovus Energy has reached a deal to divest its stake of 62.1 percent in the Weyburn oil project in the Canadian province of Saskatchewan to Calgary-based Whitecap Resources for a sum of $940m. The Weyburn project is a carbon-dioxide enhanced
Bechtel Signs $15.2 Billion EPC Deal for Driftwood LNG Export Facility, Louisiana
November 16, 2017
Bechtel has signed four engineering, procurement and construction (EPC) agreements, worth $15.2bn, with Tellurian for 27.6 million tons per annum (mtpa) capacity Driftwood LNG export facility in the US. Planned to be built in four phases near Lake Charles, Louisiana,
U.S. Oil Infrastructure Needs to Expand to Handle Explosive Growth of American Crude Exports
November 15, 2017
U.S. oil infrastructure needs to expand in the next several years to handle the explosive growth of American crude exports, or put pressure on the price of domestic oil, Reuters reports. While U.S. capacity to export crude oil is unknown,
U.S. and China Sign Agreement to Advance $45 Billion LNG Project in Alaska
November 15, 2017
The US and China have come up with a joint development agreement to advance the $45bn liquefied natural gas (LNG) export project in Alaska, which is considered to be a strategic gas infrastructure project for the American state. In this
Shell Begins Main Construction Phase of Petrochemicals Complex in Potter Township, Pa.
November 15, 2017
Royal Dutch Shell’s subsidiary Shell Chemical Appalachia has started the main construction phase of its new petrochemicals complex in Potter Township in the US state of Pennsylvania. The petrochemicals complex is expected to have an annual production of 1.6 million
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