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Marathon Oil to Buy More Permian Basin Acreage from Black Mountain for $700 Million, Mexico
March 24, 2017
Marathon Oil has agreed to buy an additional acreage of nearly 21,000 net surface acres in the Permian Basin for $700m from Black Mountain Oil & Gas and other private sellers. The newly bought land by Marathon which is primarily
TransCanada Suspends $15 Billion NAFTA Lawsuit Over Keystone XL Project
March 22, 2017
TransCanada has suspended its $15bn North American Free Trade Agreement (NAFTA) lawsuit which was filed against the US government for the Keystone XL pipeline project. The suspension of the challenge indicates that the firm seems to be pinning hopes on
Winners Recognized for Innovative Products to Be in the Spotlight at OTC 2017 Conference
March 22, 2017
Winners Recognized for Innovative Products for Offshore Exploration and Production. The Offshore Technology Conference (OTC), which takes place 1–4 May in Houston, announces that 17 technologies will receive the 2017 Spotlight on New Technology® Award. The awards will be presented
Oxea Begins Construction on Second Propanol Unit at Bay City, Texas
March 21, 2017
Oxea has started the construction of a new world-scale propanol unit at its production site at Bay City, Texas, USA. The new unit “Propanol 2” is scheduled to come on stream in 2018. Once commissioned, it will add a capacity
Phillips 66 Starts Open Season for West Texas Crude Oil Pipeline System
March 21, 2017
Phillips 66 has started an open season to secure binding commitments from prospective shippers for the Reeves-Odessa Origination (Rodeo) Project. As proposed, the Rodeo Project will include a pipeline system for crude oil transportation for producers and other shippers in
Repsol and Armstrong Energy Make Major Onshore Oil Discovery in Alaska
March 17, 2017
Spanish firm Repsol and its partner Armstrong Energy have reported a discovery of a massive oil field in Alaska which is estimated to hold 1.2 billion barrels of recoverable oil. Drilled during the 2016-2017 winter campaign, the Horseshoe-1 and 1A
Spectra Energy to Increase Stake in $1.2 Billion PennEast Pipeline Project
March 17, 2017
Spectra Energy Partners has agreed to purchase an additional 10 percent stake in $1.2bn PennEast interstate natural gas pipeline project in the US. The company has signed purchase and sale agreement with Public Service Enterprise Group’s (PSEG) subsidiary PSEG Power
Shell to Sell Oil Sands Assets in Canada for $7.25 Billion
March 17, 2017
Royal Dutch Shell has signed agreements to divest stakes in its in-situ and undeveloped oil sands assets in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) to 10 percent for $7.25bn. Under the first deal, Shell
Pioneer Natural Resources to Sell Northeastern Martin County Acreage for $266 Million, Texas
March 16, 2017
Pioneer Natural Resources Company has signed a purchase and sale agreement with an undisclosed buyer to sell an acreage package in northeastern Martin County, Texas, for $266 million. The sale is effective January 1, 2017. Current net production is approximately
Enterprise Acquires Azure Natural Gas Gathering System in Texas and Louisiana for $189 Million
March 16, 2017
Enterprise Products Partners L.P. has executed a definitive agreement to acquire the midstream business and assets of Azure Midstream Partners, L.P. and its operating subsidiaries in East Texas and North Louisiana. The agreement was the result of Azure’s bankruptcy auction
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