Drillinginfo: US oil and gas M&A deal values plunged to record 10-year low in 1Q19
A slump that began in late 2018 has carried over into the new year and the US$1.6 billion in 1Q19 deals is down 91% from 4Q18, and down 93% compared to 1Q18.
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A slump that began in late 2018 has carried over into the new year and the US$1.6 billion in 1Q19 deals is down 91% from 4Q18, and down 93% compared to 1Q18.
The transaction increases Pin Oak Energy’s acreage position across the Appalachian Basin to 167 000 net deep acres.
The company has been informed of a successful drilling result and oil discovery at the Burnett 2B well in California, following on from the successful Burnett 2A well result announced on 11 March 2019.
EIA’s Annual Energy Outlook 2019 (AEO2019) Reference case projects that U.S. tight oil production will continue to increase through 2030, ultimately reaching more than 10 million bpd in the early 2030s.
Susan Steyn will be based in the firm’s Houston office and will be central to delivering the division’s ambitious global expansion strategy.
The acquisition was announced in early February 2019 and was completed effective March 26, 2019.
In addition, Newpark will showcase the Kronos™ deepwater drilling fluid system for safer, cleaner and faster offshore operations.
Integrity Management Solutions has commenced drilling operations at the Burnett 2B well within the Monroe Swell field, onshore California.
The company has sold its Malaysian assets to a subsidiary of PTT Exploration and Production Public Company Ltd.
A total of 30 companies participated in Lease Sale 252, covering a 1.2 million acre area of federal waters in the Gulf of Mexico.
With nearly 70 years in mapmaking in America’s most prolific oilfield, Midland Map offers current and historical intelligence on Lease and Ownership, Producing Zones, Wildcat Maps, Base Maps, and various other maps found nowhere else on earth.
The discussions were initiated by the board officers of each organisation who recognise the complementary nature of each respective organisation’s mission, products, and services.