QEP Energy Co., a wholly owned subsidiary of Denver-based QEP Resources Inc., has agreed to acquire 13,800 net acres in the core of the northern Midland basin from an undisclosed seller for $732 million. Source: News

Pennsylvania’s Senate approved a tax reform bill with provisions to tax both natural gas production and consumption in the state. Oil and gas trade associations there strongly criticized the July 26 action, which passed by a 26-24 vote. The amended bill, which apparently attempts to close a budget deficit, now heads back to the state […]

Cameroon’s Societe Nationale de Raffinage SA (Sonara) has let a contract to a consortium of French firms Suez SA, Sogea Satom, and Ingenica to provide technology licensing, engineering, and construction for a project to modernize and expand the effluent treatment plant of its 2.1 million-tonne/year refinery in Limbe. Source: News

Statoil ASA reported adjusted earnings of $3 billion and adjusted earnings aftertax of $1.3 billion in this year’s second quarter. International Financial Reporting Standards (IFRS) net operating income, meanwhile, was $3.2 billion and IFRS net income was $1.4 billion for the quarter. Source: News

Total SA recorded a first-quarter adjusted net income of $2.5 billion, up from $2.2 billion in first-quarter 2016. Source: News

ConocoPhillips is reducing its planned capital expenditures for 2017 by $200 million to $4.8 billion. Source: News