News - Upstream

Oil and gas mega-projects: majors must learn from $80bn cost overruns

Global upstream project delivery is finally on track, but oil and gas companies must avoid a repeat of budget blowouts that have cost the industry $80bn, writes Julian Turner.

Diamondback Energy to acquire Energen for $9.2bn

US-based oil and gas producer Diamondback Energy has agreed to acquire Energen in an all-stock deal valued at approximately $9.2bn, including debt.

Devon Energy sells Delaware Basin acreage to Carrizo Oil and Gas

Devon Energy has entered into an agreement to non-core Delaware Basin acreage to a Houston-based energy company Carrizo Oil and Gas for $215m.

Eni granted Nour exploration license offshore Egypt

Italian company Eni has been awarded Nour exploration license located approximately 50km offshore in the Eastern Mediterranean.

Echo reports completion of initial well testing of ELM-1004 well in Argentina

Echo Energy said that it has completed initial well testing on the first well in the Fracción C license in Argentina, operated by Compañía General de Combustibles (CGC).

Lundin gets regulatory nod for exploration drilling in Norwegian Sea

Norway’s Petroleum Safety Authority has granted consent to Lundin Norway to drill exploration well 6307/1-1 S in the Norwegian Sea.

Oceaneering wins Equinor contract for E-ROV services

Oceaneering International said that one of its subsidiaries has bagged a contract for a three-year term with two one-year optional extension periods from Equinor to supply a resident, battery-powered electric remotely operated vehicle (E-ROV) system to support subsea inspection, maintenance and repair activities.

Rowan wins contract from Cantium for Rowan EXL III rig

Rowan Companies said that its EXL Class high specification jack-up rig Rowan EXL III has won a six-month contract from Cantium for operations in the US Gulf of Mexico.

NNPC, Seplat sign agreements to expedite ANOH gas project in Nigeria

Nigerian National Petroleum Corporation (NNPC) has signed five agreements with Seplat Petroleum Development Company (SPDC) to accelerate the development of the Assa North and Ohaji South (ANOH) gas field in Nigeria.