Upstream news

ConocoPhillips and Marathon Oil Corporation has announced that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of US$22.5 billion, inclusive of US$5.4 billion of net debt.

Tellurian Inc. and Aethon Energy Management LLC (Aethon) has announced an agreement for Aethon to acquire Tellurian’s integrated upstream assets for US$260 million.

Honeywell and Weatherford has announced a partnership to deliver a comprehensive emissions management solution for the energy industry.

Chevron has announced today that its 50 % owned affiliate Tengizchevroil LLP (TCO) has safely commenced operations at its wellhead pressure management project (WPMP) at the Tengiz oil field in Kazakhstan.

bp, as operator of the Azeri-Chirag-Gunashli (ACG) project, has announced the start-up of oil production from the new Azeri Central East (ACE) platform as part of the ACG field development in the Azerbaijan sector of the Caspian Sea.

Petrofac, has been awarded a technical services contract by Compañía Nacional de Petróleos de Guinea Ecuatorial (GEPetrol), the National Oil Company of Equatorial Guinea, to support the operation of the region’s Block B asset.

88 Energy has announced further successful flow test results from the Company’s Hickory-1 discovery well, located in Project Phoenix on the North Slope of Alaska.

SLB has been awarded three contracts by Petrobras (NYSE: PBR) for completion hardware and services for up to 35 subsea wells in the development of Petrobras’ offshore Buzios Wave II oilfield.

The companies have signed an MoU to explore and strengthen collaboration opportunities in floating production systems through leveraging both parties’ deep engineering capabilities and technologies.

Talos Energy has provided an updated 2024 operational and financial guidance to reflect the closing of the QuarterNorth Energy acquisition earlier than expected. Prior guidance was based on an end 1Q24 close.