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July 1, 2022

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A shale booster shot: ‘Re-fracs’ rise as cheap way to lift U.S. oil output

Reuters
June 27 (Reuters) – U.S. shale oil producers are returning to existing wells and giving them a second, high-pressure blast to lift output for a fraction of the cost of a finishing a new well. These “re-fracs” are taking hold as shale oil producers look to take advantage of $100......

Venezuelan oil exports to Europe set to resume after two years

Reuters
The logo of Italian energy company Eni is seen at a gas station in Rome, Italy September 30, 2018. REUTERS/Alessandro Bianchi Register now for FREE unlimited access to Reuters.com Register June 17 (Reuters) – A 650,000-barrel-cargo of Venezuela’s oil chartered by Italy’s Eni (ENI.MI) is about to set sail carrying......

Founder Harold Hamm offers to take Continental private at $25-bln value

Reuters
June 14 (Reuters) – Continental Resources Inc (CLR.N) said on Tuesday it received an all-cash offer from billionaire-founder Harold Hamm’s family trust, a deal which could take the U.S. shale producer private at a valuation of $25.41 billion. If both sides reach an agreement, it would result in the most......

Shareholder LGIM says has ‘strong reservations’ about Capricorn, Tullow merger

Reuters
Workers are seen at an oil exploration site in Bulisa district approximately 244km (152 miles) North-West of Kampala January 20, 2012. REUTERS/Stringer Register now for FREE unlimited access to Reuters.com Register LONDON, June 13 (Reuters) – Legal & General Investment Management, a significant shareholder in Capricorn Energy (CNE.L) and Tullow......

Norway oil firms, workers agree wage deal in principle, avert strike for now

Reuters
The West Hercules drilling rig leaves Skipavika, Norway April 1, 2018. REUTERS/Gwladys Fouche/File Photo Register now for FREE unlimited access to Reuters.com Register OSLO, June 12 (Reuters) – Norwegian oil firms and employees have agreed in principle a new wage deal, avoiding for now a strike at nine fields that......

Norway negotiators work overtime to avert oil strike

Reuters
A general view of Equinor’s Johan Sverdrup oilfield platforms in the North Sea, Norway, December 3, 2019. REUTERS/Ints Kalnins/File Photo Register now for FREE unlimited access to Reuters.com Register OSLO, June 12 (Reuters) – Norwegian oil workers and their employers have extended wage negotiations past a midnight deadline in a......

EXCLUSIVE CVC explores $2 billion sale of software firm VelocityEHS -sources

Reuters
June 10 (Reuters) – Private equity firm CVC Capital Partners is exploring a sale of VelocityEHS for as much as $2 billion, seeking to capitalize on a boom in demand for compliance software in the corporate world, three people familiar with the matter said. CVC is working with U.S. investment......

Texas power use to hit record as temperatures soar

Reuters
Overhead power lines are seen during record-breaking temperatures in Houston, Texas, U.S., February 17, 2021. REUTERS/Adrees Latif Register now for FREE unlimited access to Reuters.com Register June 6 (Reuters) – Power demand in Texas is set to break its all-time record this week, testing the resilience of the grid after......

Exclusive: U.S. will allow two companies to ship Venezuelan oil to Europe

Reuters
HOUSTON/WASHINGTON, June 5 (Reuters) – Italian oil company Eni SpA and Spain’s Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter said, resuming oil-for-debt swaps halted two years ago when Washington stepped up......

Colombia higher court rules fracking pilot projects can go ahead

Reuters
A man rides a canoe on the Magdalena River in Puerto Wilches, Colombia March 8, 2022. Picture taken March 8, 2022. REUTERS/Oliver Griffin Register now for FREE unlimited access to Reuters.com Register BOGOTA, June 2 (Reuters) – Investigative fracking operations in Colombia can go ahead after a court in the......

White House weighs oil profits tax to fund consumer rebate

Reuters
WASHINGTON, June 2 (Reuters) – The White House is considering congressional proposals that could tax oil and gas producers’ profits in order to provide a benefit to consumers struggling with higher energy prices, a U.S. official said on Thursday. “There are a variety of interesting proposals and design choices on......

Texas power use to break all-time high next week

Reuters
Overhead power lines are seen during record-breaking temperatures in Houston, Texas, U.S., February 17, 2021. REUTERS/Adrees Latif//File Photo Register now for FREE unlimited access to Reuters.com Register June 2 (Reuters) – Power demand in Texas will break the all-time high next week as economic growth boosts overall usage and hot......

Tullow Oil merges with Capricorn in $827 mln all-share deal

Reuters
Workers walk past storage tanks at Tullow Oil’s Ngamia 8 drilling site in Lokichar, Turkana County, Kenya, February 8, 2018. REUTERS/Baz Ratner/File Photo Register now for FREE unlimited access to Reuters.com Register Capricorn investors get 3.8068 Tullow shares for each share Combined group to have output of around 100,000 boe/d......

Hedge fund Elliott chases oil and gas deals, bucking Wall Street

Reuters
May 25 (Reuters) – Energy bankers who lost one client after another when poor returns pushed many investment firms out of the U.S. oil patch got a welcome email earlier this year. Elliott Management, a hedge fund founded and co-led by billionaire Paul Singer and best known for its activist......

U.S. prepares renewal of Chevron’s Venezuela license without broader terms -sources

Reuters
A Chevron gas station sign is seen in Del Mar, California, April 25, 2013. REUTERS/Mike Blake Register now for FREE unlimited access to Reuters.com Register HOUSTON/WASHINGTON, May 24 (Reuters) – The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp’s (CVX.N) license to operate in......

Woodside’s ‘crown jewel’ Scarborough gas lures buyers to fill Russia gap

Reuters
MELBOURNE, May 20 (Reuters) – Woodside Petroleum (WPL.AX) has received strong interest from companies for a stake in the Scarborough natural gas project it is developing off Western Australia in the wake of the Ukraine conflict, Chief Executive Meg O’Neill said on Friday. Woodside is set to become 100% owner......

Iraq bids to control Kurdistan oil revenue with contract switch

Reuters
LONDON, May 19 (Reuters) – Iraq has made a fresh attempt to control revenue from the semi-autonomous region of Kurdistan by asking oil and gas firms operating there to sign new contracts with state-owned marketer SOMO rather than the Kurdistan Regional Government (KRG). Oil minister Ihsan Ismael on May 7......

Iraq balks at greater Chinese control of its oilfields

Reuters
Iraq persuaded Lukoil to halt sale to Sinopec – sources Baghdad concerned China becoming too dominant – sources Western firms not happy with terms of Iraqi deals LONDON/BASRA, May 17 (Reuters) – Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over......

Wall Street rallies at end of roller coaster week

Reuters
A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri Register now for FREE unlimited access to Reuters.com Register Twitter drops as Musk puts purchase deal on hold All major indexes on course for steep weekly losses Indexes up: Dow......

EQT pushes back Galderma IPO plans amid market turmoil – sources

Reuters
A Swiss flag is pictured on the Federal Palace (Bundeshaus) in Bern, Switzerland December 7, 2018. Picture taken December 7, 2018. REUTERS/Denis Balibouse/ Register now for FREE unlimited access to Reuters.com Register LONDON, May 13 (Reuters) – EQT (EQTAB.ST) is delaying listing plans for its $22 billion skincare firm Galderma......

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