E&P startup agrees to buy WPX's Piceance unit for $910 million

Houston-based exploration and production startup Terra Energy Partners LLC has agreed to acquire WPX Energy Rocky Mountain LLC, a wholly owned subsidiary of WPX Energy Inc., Tulsa, for $910 million. The deal is expected to close in the second quarter. Source: News

Obama's proposed fiscal 2017 budget includes $10.25/bbl crude oil tax

US President Barack Obama proposed a $10.25/bbl crude oil tax to fund transportation improvements in addition to doubling federal clean energy research and development outlays in the final federal budget proposal of his presidency. Source: News

Obama's oil fee

When the President of the United States proposes to wreck what until recently had been a rare source of economic growth, his reasons should be sound and his prospects for success, solid. Source: News

Looking ahead, not back

It’s mid-February, and thank the petroleum gods and goddesses for that. For the OGJ technology editors, it means the 2016 conference season is about to kick off, and it couldn’t be arriving at a more critical time for this industry. Source: News

Low oil prices push liberalization of GCC project finance

Slumping crude prices are forcing oil-producing countries of the Gulf Cooperation Council to finance projects with funding sources other than national treasuries and bank debt, including capital markets and private investment. Source: News

BHI: US rig count loses 30 in latest drilling dive

The US drilling rig count plunged 30 units to 541 during the week ended Feb. 12, continuing another interval of steep declines amid a drilling slump that stretches back to late 2014. All but two units to go offline this week were oil-directed. Source: News

Green named president of Chevron Asia Pacific E&P

Stephen W. Green has been named president of Chevron Asia Pacific Exploration & Production. Green, who’s position is effective Apr. 1, succeeds Melody B. Meyer, who is retiring. Source: News

Woodside makes second gas discovery offshore Myanmar

Woodside Petroleum Ltd. reported that the Thalin-1A exploration well on Block AD-7 in the Rakhine basin intersected a gross gas column of 64 m, and 62 m of net gas pay is interpreted within the primary target interval. Source: News

OMV prepares to sell Turkish subsidiary

OMV AG is selecting advisors to assist with the sale of part or all of OMV Petrol Ofisi AS, a wholly owned wholesale and retail oil-products distributor in Turkey. Source: News