SDX Energy shareholders have approved a move of corporate headquarters to London from Calgary as part of a court-approved reorganization. A new, UK-based company, SDX Energy PLC, will acquire shares in the former SDS Energy Inc. and apply for its shares to be traded on the London Stock Exchange. Source: News
Oil from US shale on track to rise 16% in 2019
US shale operators are on course to increase oil production markedly in 2019. The growth in US onshore production from the first quarter through the fourth quarter could come in at around 1.1-1.2 million b/d, or 16% for the full year, according to Rystad Energy. Source: News
Eni group awarded block off Argentina
Eni SPA has joined the list of international oil and gas companies awarded licenses in Argentina’s recent bid round. The company leads a group that will shoot a 3D geophysical survey across Block MLO 124 and conduct other geophysical surveys. Source: News
Cowen: E&Ps could return to growth if valuation stays down
Tracking by Cowen Inc., an American multinational investment bank, shows spending plans for 2019 by independent exploration and production firms are down 11%. Cowen expects independent E&Ps to honor capital discipline commitments for the remainder of this year, but if valuation remains depressed the group may pivot back toward growth. Source: News
Shell Australia approved for Bratwurst-1 wildcat
Shell Australia has been granted approval from the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) for the drilling of proposed wildcat Bratwurst-1 in Ashmore Cartier permit AC/P64 in the Browse basin off Western Australia. Source: News
Naphtha Israel Petroleum buying Isramco
Isramco Inc., Houston, will become an indirect, wholly owned subsidiary of Naphtha Israel Petroleum Corp. Ltd. under a definitive merger agreement based on a cash purchase of Isramco shares. Source: News
MARKET WATCH: Crude oil prices mixed on geopolitics
Oil prices gained modestly on the New York market May 20, settling above $63/bbl while Brent crude oil prices in London fell slightly to settle under $72/bbl. Light, sweet oil prices rose to their highest level in nearly 3 weeks on May 20, which analysts attributed to US-Iran tensions and major crude producers, including Saudi […]
Gazprom has two offshore Yamal gas finds
Gazprom said it has discovered more than 500 billion cu m of natural gas in two fields offshore the Yamal Peninsula in the Russian Arctic. Source: News
Inpex shuffle eyes exploration, projects
Inpex Corp., Tokyo, has reorganized “to reinforce oil and gas exploration and mergers and acquisitions capabilities” and to strengthen project execution. Source: News
Shell weighs plan for Louisiana MEG plant
Royal Dutch Shell PLC subsidiary Shell Chemical LP is advancing feasibility studies for a potential $1.2-billion manufacturing expansion of monoethylene glycol (MEG) production at its 841-acre Geismar chemicals complex in Ascension Parish, La. Source: News