Texas upstream news

Ocean Geo Solutions’ current workforce, including geophysicists, cartographers and support staff will continue to operate out of its Houston office.

The new company will be known as HMH, and Baker Hughes and Akastor will own equal equity.

More than 99% of Cabot shareholders and more than 90% of Cimarex shareholders were in favour of the merger.

The company is aiming to expand into new markets, geographies, and sectors to provide advanced subsurface wellbore construction solutions.

Larry Kerr has been appointed CEO of GD Energy Products.

The biggest growth is expected to happen in the Permian Basin, where crude oil and condensate supply is projected to increase by almost 0.90 million bpd from 4.5 million bpd in 2021 to 5.4 million bpd by 2030.

Shell’s Permian business includes ownership in approximately 225 000 net acres with current production of around 175 000 boe/d.

The combined purchase price and anticipated development capital represents an incremental ~US$450 million commitment to the Eagle Ford for Warwick.

Logan Industries has completed the design, fabrication and delivery of a set of unique safety cages to keep offshore technicians safe while inspecting subsea connectors on BOP stacks while on deck.

The cash and stock transaction is valued at approximately US$788 million.