TOPICS OF INTEREST
Keystone XL Pipeline Temporarily Blocked
A decision by the US District Court in Montana deals a blow to the TransCanada project, which is designed to transport heavy crude from Alberta to Nebraska.
Equinor Acquires New Canadian Offshore Licenses
The deal gives Equinor exploration parcels in the prolific Jeanne d’Arc Basin, near its existing discoveries offshore Newfoundland and Labrador.
Jacobs Engineering Sells Energy and Chemical Segment to WorleyParsons
The oilfield engineering services industry continues to “wheel and deal” with Jacobs’ $3.3-billion sale to WorleyParsons.
InterMoor Acquires BEL Grapnel and Chaser Designs
The deal covers drawings, designs, and cast patterns for BEL’s anchor- and chain-handling equipment.
Improving Facility Design With Integrated Modeling
Steady-state modeling of an asset requires the work of multiple engineering teams, which often leads to suboptimal facility design. An integrated model using information consistently across the entire asset may alleviate the pain resulting from conventional methods.
Equinor Announces Cost Increase, Delayed Startup for Martin Linge
The North Sea field, which holds an estimated 300 million BOE in recoverable resources, is now scheduled to start production in early 2020. Operator Equinor said the timeline was based on its assessment of the remaining scope of work on the project.
BASF, LetterOne Agree To Merge Oil and Gas Businesses
The deal, which is subject to regulatory approvals, would mark the largest E&P merger in Europe in more than a decade. The two companies combined made $5.5 billion in revenue last year.
Santos Acquires Quadrant Energy, Takes Ownership of Dorado
The $2.15-billion deal gives the company an 80% ownership stake in what could be one of Australia’s largest offshore discoveries in years.
Repsol Establishes Model for Venture Capital Investment
The Spanish E&P company plans to invest more than $11 million by the end of 2018 on startups working in established priority areas, which include resource reuse and sustainability measures.
Baker Hughes To Sell Its Natural Gas Solutions Business
BHGE will sell the division, acquired by GE in 2011 when it bought Dresser, to a private equity investment firm, and a provider of products and services for the distribution and usage of natural gas in Italy. The combined value of the two deals is $375 million.
Total Acquires Engie’s LNG Assets, Becomes No. 2 in Global Market
The $1.5-billion deal delivers a world market share of 10%, including a 16.6% stake in the US Cameron LNG project.
Repsol Targets Upstream Production in Capex Boost
As part of a revised strategic plan, the Spanish company says it will invest more than $9 billion on its overall operations by 2020, with much of it going to its upstream business unit.
The Benefits of Flying Unmanned Aircraft Vehicles at Scale for Asset Managers
Ground sensors on assets over a broad area have limited returns on investment if the asset life cycle is less than 10 years, and obsolescence of the technology if it exceeds 10 years. Complementing sensors with aerial remote sensing at scale may help to mitigate these issues.
Efficiency Focus Helps Industry Chase Deepwater Capital
The president of Chevron North America E&P examines how standardization and operational efficiency is crucial for operators looking to bolster their deepwater portfolios.
McDermott Rejects Acquisition Offer From Subsea 7, Plans To Move Forward With CB&I Deal
McDermott’s board of directors rejected an acquisition offer from Subsea 7, which called for McDermott to abandon its planned $6-billion combination with CB&I. McDermott’s special meeting of stockholders, which was scheduled earlier to address the CB&I deal, will be held on 2 May.
Anadarko Looks to Tiebacks, Platform Life Extension, and Potential Redeployment To Add Value
Anadarko aims to maximize immediate short-cycle value through tiebacks and platform relocations in the Gulf of Mexico.
Aggressive Cost-Cutting: Is it Sustainable?
Onshore development is increasing production, while investors demand greater operational efficiencies. Operators and service companies are striving to strike the balance between fiscal discipline and growing their production. How low can costs go, and for how long?
Aqualis Offshore Signs Frame Agreement With Aker BP
Aqualis Offshore and Aker BP have signed a 5-year frame agreement. Aker was awarded 23 new production licenses by the Norway Ministry of Petroleum and Energy on 16 January.
McDermott, CB&I To Combine in $6-Billion Deal
McDermott and CB&I will form a vertically integrated onshore-offshore construction and engineering services provider. Other deals include Jacobs Engineering Group acquiring CH2M and the expected close by year end of the Schlumberger and Weatherford OneStim JV.
Shell Stands Down Emergency Response at Enchilada Platform
Shell reported it has not observed any signs of oil on the water associated with a fire on the Enchilada platform, located in the US Gulf of Mexico.
What Project Sanctions Tell Us About the State of the Upstream Sector
Many of the biggest players in the industry—particularly the majors—have adapted their portfolios for “lower for longer” and are once again sanctioning big projects. While we are not back to the heady days of 2010–2014, we have left behind the dark days of 2015–2016.
Acteon and Actuant Assets Change Hands
Acteon Group is buying Actuant’s Viking SeaTech business at a steeply discounted price of $12 million compared to the $225 million that Actuant paid in 2013 to acquire the company, and Actuant is buying Acteon’s Mirage for $16 million.
Supply and Demand in Unconventionals: Where Do Service Companies Fit?
Service company executives examine how the oil price downturn affected supply and demand for their services in the unconventional sector, and strategies they have undertaken to stay afloat as operators adjust to uncertainty.
Petronas Nixes the Pacific Northwest LNG Megaproject
Petronas cancels plans for the development of the Pacific Northwest LNG project in British Columbia intended to take away natural gas from the Montney formation for shipping to Asian countries. Low LNG prices strike a blow to the feasibility of the project.
Royal Dutch Shell Aims To Deliver USD 10 Billion From New Projects by 2018
Ben Van Beurden, CEO of Royal Dutch Shell, said in his 2Q presentation that the Prelude FLNG is one of three projects under construction that, along with nine others recently brought on line, will deliver USD 10 billion in cash flow by 2018.
Guidelines for Community Input in Unconventional Development
The effectiveness of delivering information about a new energy project to community stakeholders varies based on the method used; how a message is framed can affect individual opinions.
OTC: Risk-Based Cybersecurity Critical for Offshore Automation
A cybersecurity director outlines the steps needed to adopt a risk-based cybersecurity program. He cautions that in many cases, process control systems’ confidentiality is mistakenly viewed as a lower priority than IT systems’.
Oilfield Services: How Much Consolidation is Yet To Come?
The recent upswing in M&As in the oilfield services sector may be a harbinger of more to come as operators push for capex and opex control.
IT/OT Convergence Plays Critical Role in Cybersecurity Protocol
Industry CIOs examine the challenges operators and service companies face in understanding cybersecurity threats.
On-Site Specialization Optimizes Eagle Ford Acreage
Sanchez Energy’s COO discusses the company’s project management strategies in its Eagle Ford operations.
Bayesian Networks Helpful in Shale Risk Management
By using a Bayesian network, a probabilistic graphical model, in their shale operations, companies might eliminate some of the hurdles they face in these areas, an expert said at the 2016 Unconventional Resources Technology Conference.
A Strategy For Driving Step Change Reductions in Capital Project Cost
Many companies are seeking 20% to 50% reductions in project costs. This level of capital cost reduction requires serious rethinking of the strategy for developing and executing projects.
Thermodynamic Performance Indicators for Offshore Oil and Gas Processing: Application to Four North Sea Facilities
Developing performance indicators that will provide meaningful comparisons across the wide variation in oil and gas platforms is important, since good indicators can drive optimal operations. But is is also complex.
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24 October 2018
06 November 2018
24 October 2018
07 November 2018
ITEMS OF NOTE
07 August 2018
20 July 2018
16 February 2018
18 December 2017
28 November 2017