US upstream news

The biggest M&A deal of 2Q19 was Occidental Petroleum’s acquisition of Anadarko Petroleum for US$55 billion.

US Light Tight Oil (LTO) represented less than 1% of global oil supply nine years ago but now represents close to 10% of total global oil supply, a percentage which is expected to continue its ascent going forward.

Forum will provide global sales, distribution and support of Olis remotely operated vehicles (ROV) controllers for the offshore energy market.

The research and business intelligence company is forecasting a 4% decline in global oilfield service revenue if oil prices stay flat next year.

The OOC Oil & Gas Blockchain Consortium, whose members include Chevron Corp., ConocoPhillips, Exxon Mobil Corp., Equinor and Royal Dutch Shell, has awarded a contract to Data Gumbo to pilot blockchain technology for water handling services.

The laboratory is part of a global Clariant initiative to expand HTE capabilities to all Clariant Business Units, including direct support for oil services in North America, the Asia Pacific region, Latin America, Africa and the North Sea.

Among the cloud applications released are Scalable Earth Modeling, Full-Scale Asset Simulation, Data Foundation and Real-Time Control – Edge.

The treatment programme is designed to maximise the performance of declining wells, reducing the need for new drilling to maintain production rates.

After a recently completed expansion of the regional airport, Lea County will be augmenting the existing non-stop United Express daily flight service to Houston with a new route to Denver, Colorado which begins on 27 October.

The 5% tariff announced last Friday is the first time that Beijing has targeted crude oil.