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Murphy Oil Exploration is poised to buy several deepwater Gulf of Mexico assets from LLOG Exploration for a total of US$1.625 billion, split into a US$1.375 billion cash payment and US$250 million in contingent payments.
Delek Group has bought Shell's stake in the Caesar-Tonga field, in the deepwater Gulf of Mexico
The US Gulf of Mexico region wide Lease Sale 252 was held today, 20 March 2019. The sale attracted 257 bids from 30 companies, with high bids totalling US$244.3 million. An increase of about $66 million (37%) from the last region-wide lease sale in August 2018.
The US is poised to impose fresh sanctions on Venezuela, ratcheting up the stakes in the country's political crisis by curbing the Maduro government's access to cash from crude exports.
What next for the oil market as the US reimposes sanctions on Iran?
Offshore driller Ensco is poised to buy smaller rival Rowan in an all-stock deal valued at $2.38 billion.
Rig provider Transocean is set to merge with Ocean Rig in a $2.7 billion deal, a move Wood Mackenzie says is a winning one for the rig market.
On Wednesday, 15 August 2018, the US held its region-wide Lease Sale 251, attracting 171 bids from 29 participating companies, with high bids totalling US$178.1 million. An increase of about $53 million from the last region wide lease sale in March.
Today China announced retaliatory tariffs on $60 billion worth of American imports, in response to the Trump administration's latest trade threats. The list included a 25% tariff on LNG.
BP has bought BHP Billiton's US Lower 48 assets in a $10.5 billion deal. Wood Mackenzie believes the deal will be transformative for BP.
What does the EU's agreement to buy US LNG - announced after a meeting between European Commission president Jean-Claude Juncker and US President Donald Trump - mean for producers and consumers?
BP agrees to increase its stake in the Clair field, offshore West of Shetland, and divest its interest in Greater Kuparuk, in Alaska, via an asset swap with ConocoPhillips
After a contentious campaign, Andrés Manuel López Obrador has won the presidency. Now, the energy industry is trying to determine the incoming administration’s strategic priorities and the implications for Mexico’s energy reforms and its upstream, downstream, gas and power markets.
Andy McConn, research analyst at Wood Mackenzie, shares his thoughts following Concho Resources announced acquisition of RSP Permian Inc. in an $8 billion all-share deal, the largest purely Permian deal ever.
On Wednesday, 21 March 2018, the US held its region-wide GoM Lease Sale 250, attracting 159 bids from 33 participating companies, with high bids totalling US$124.8 million. The total of high bids represents a modest increase of about US$3 million over last year's August region wide Lease Sale 249 but is still a lacklustre result.
Mexico’s second deepwater licensing round closed today on a high note with 19 of 29 offered blocks awarded, raising more than US$500 million in cash payments. Shell dominated the auction, snapping up nearly half of all blocks awarded. In the Perdido Area, the company won five of six awarded blocks.
The Trump administration has been championing US energy exports as its preferred instrument for narrowing its trade deficit in the wake of the US shale boom. A combination of rising export capacity in the US, LNG import demand growth in China, and political cheerleading has underpinned an uptick in LNG exports to China this year via third party, spot trades. Will Trump's trip to Beijing seal the deal for some major LNG deals?
Following the announcement this morning that Talos energy and its partners Premier Oil and Sierra Oil & Gas have made a discovery at Zama-1, drilled in Block 7 offshore Mexico, please find below initial comment from Pablo Medina, Wood Mackenzie's senior analyst, Latin America Upstream.
Commenting on BHP Billiton's plans to divest its U.S shale unit, Jon Weintraub, research analyst at Wood Mackenzie, said: "BHP's announced divesture of its onshore U.S. business is a pretty momentous step-change in its corporate strategy and marks the culmination of its push to be a major shale player. We expect to see all options being considered with a substantial amount of interest from multiple pools of buyers."
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