US upstream news

The company has announced 3Q19 sales and revenues of US$12.8 billion, a 6% decrease compared with US$13.5 billion in 3Q18. The decrease has been attributed to a US$1.2 billion movement in dealers’ inventories.

Based in the company’s Houston headquarters in Texas, US, McClure will work closely with CEO Janette Marx to achieve Airswift’s growth plans.

Talos plan to use Trendsetter’s TC7 clamp connectors and ancillary equipment on the Bulleit development located in the Gulf of Mexico’s Green Canyon 21 block.

McDermott will have immediate access to US$650 million of financing comprised of US$550 million under a term loan facility and US$100 million under a letter of credit facility, before reduction for related transaction fees and expenses.

The order is the first material equipment order for the Shenandoah project and the first of its kind for subsea trees designed for pressures up to 20 000 psi.

With US production expected to increase by 1.2 million bpd y/y in 2020, and with domestic refineries already maxing out capacity to absorb shale growth, Rystad Energy expects exports to balloon and reach 4.7 million bpd by the end of 2020 and nearly 6 million bpd by the end of 2022.

The site offers testing in: coatings & insulations; sour service corrosion; fracture/fatigue mechanics; engineering critical assessments; non-destructive testing; machining capability; pipeline testing; sour gas testing; industry leading mechanical and metallurgical testing; and environmental air emissions testing.

The completed project totals over 8500 km of survey data.

Lease Sale 254, scheduled for March 2020, will be the sixth offshore sale under the 2017 – 2022 Outer Continental Shelf Oil and Gas Leasing Program.

A report by IHS Markit attributes the decline in conventional discoveries to low oil prices, competition from short cycle-time unconventional projects, and financial investors questioning long-term, high-cost, frontier projects.