Rigzone Industry News

Oil declined after Saudi Arabia cut official selling prices for all regions, the latest sign that fundamentals are worsening.

Suncor's upstream production reached 808,000 bpd on average in Q4.

Under the terms of the agreement, Civitas issued Vencer 7,181,527 shares of common stock and $1 billion of cash, with a $550 million deferred cash payment due to Vencer on January 3, 2025.

A group of Baltic and Nordic gas transporters signed a contract for a pre-feasibility study for an EU hydrogen infrastructure network.

The total North America rig count now stands at 746.

Prospera said it exceeded its 2023 year-end target with a total production capability of 2,200 barrels of oil equivalent per day.

Southwestern and Chesapeake are reportedly close to a merger that would create a roughly $17 billion company.

'The valuation looks attractive with Callon being acquired around the value of its existing production without paying a meaningful amount for the undeveloped acreage'.

'The unprecedented levels of cooperation, dialogue, mutual respect, and trust will continue to be the basis for these continued collaborative efforts going forward'.

Aker Solutions will provide new power transmission technology called Subsea Collector, which it says has the potential to significantly reduce the costs and complexity of offshore wind farms.