Tethys Petroleum Ltd. has signed a Memorandum of Understanding with Holding Energy Petroleum Engineering Technology (HOPEC) for HOPEC to assist in introducing Tethys to Chinese State oil companies and investors to open discussions for those entities to farm-in to Tethys' assets in Tajikistan.
Calgary, Alberta-based Provident Energy Trust has plans to separate its upstream and midstream business segements and will move forward with a new CEO.
On Monday, April 19, 2010, the US Bankruptcy Court for the Western District of Louisiana, Lafayette Division, the Honorable Robert Summerhays presiding, confirmed Staratoga Resources Inc.’s Third Amended Plan of Reorganization.
While global demand for energy will continue to rise, the upstream oil and gas business needs to face the reality of today’s challenges while still focusing on the long-term, and prepare for the challenges ahead, speakers told CERAWeek attendees on March 9.
The economic downturn has resulted in the number of joint ventures (JVs) announced to the markets dropping by approximately 50% in the first half of 2009 from the levels seen during 2006-2008.
A great - and still growing - divergence appeared in 2009 between public statements by leaders and their public performance. While a large part of the global population appears still transfixed by words, there is a growing perception that great fissures already rend the global strategic architecture.
After a strategic sale of certain southwest Louisiana assets, Crimson Exploration Inc. has set its sights on its Texas assets, including the red-hot Haynesville Shale, and signed drilling contracts for two rigs to be used for part of its 2010 capital program.
In an ongoing effort to right itself, Petroflow Energy Ltd. is making additional changes, including naming Kyle R. Miller to the position of CEO, transitioning the corporate headquarters to Denver, and selling its Permian Basin properties to reduce debt.
Shell has agreed to acquire Hess Corp.'s entire upstream portfolio in Gabon and its interest in the Clair field. In return, Hess would acquire Shell's interest in a pair of Norwegian offshore fields, Valhall and Hod.
