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Unconventional Resources Companies News and Press Releases

Chevron Plans to Sell its Bangladesh Companies
Chevron Corporation announced that its wholly-owned subsidiary, Chevron Global Ventures, Ltd., has entered into an agreement to sell the shares of its wholly-owned indirect subsidiaries operating in B...
4/24/2017 - Mergers and Acquisitions - Bangladesh
ConocoPhillips to Sell San Juan Basin Assets for $3B
ConocoPhillips (COP) announced it has entered into a definitive agreement to sell its interests in the San Juan Basin to an affiliate of Hilcorp Energy Company for up to $3.0 billion of total proceeds...
4/13/2017 - Acquisitions and Divestitures - United States
Chevron Exploring Sale of Canada Oil Sands Stake for $2.5b
Chevron Corp, the second-largest U.S.-based oil producer, is exploring the sale of its 20 percent stake in Canada's Athabasca Oil Sands project, which could fetch about $2.5 billion, according to peop...
4/13/2017 - Oil Sands - Canada
EXCO Resources Sells South Texas Oil & Natural Gas Properties for $300 million
EXCO Resources has executed a definitive agreement with a subsidiary of Venado Oil and Gas, an affiliate of KKR, to divest its oil and natural gas properties in South Texas. The purchase price of $300...
4/10/2017 - Mergers and Acquisitions - United States
Thailand to Auction Petroleum Concessions for Erawan & Bongkot Fields
Thailand will auction petroleum concessions for Erawan and Bongkot gas fields in December, the country's energy minister said. "An official announcement is expected within July, and auctions in Decemb...
3/31/2017 - Exploration - Thailand
Chevron Concludes Sale of Geothermal Operations in Indonesia
Chevron Corporation (CVX) announced that its wholly-owned subsidiaries have completed the sale of Chevron's geothermal business in Indonesia to Star Energy Consortium. Chevron received the cash procee...
3/31/2017 - Mergers and Acquisitions - Indonesia
ExxonMobil Announces New Oil Discovery Offshore Guyana
Exxon Mobil Corporation (XOM) announced positive results on the Snoek well offshore Guyana, confirming a new discovery on the Stabroek Block. Drilling targeted similar aged reservoirs as encountered i...
3/30/2017 - Offshore Drilling - Guyana
ExxonMobil Announces New Oil Discovery Offshore Guyana
Exxon Mobil Corporation announced positive results on the Snoek well offshore Guyana, confirming a new discovery on the Stabroek Block. Drilling targeted similar aged reservoirs as encountered in prev...
3/30/2017 - Drilling - Guyana
Acquiring ExxonMobil’s Operated Upstream Business in Norway
HitecVision and its majority owned portfolio company Point Resources are pleased to announce the signing of an agreement to acquire ExxonMobil’s operated upstream business in Norway from ExxonMobil Ex...
3/29/2017 - Acquisitions and Divestitures - Norway
ConocoPhillips to Sell Assets in Canada for $13.3 Billion
ConocoPhillips has signed a definitive agreement with Cenovus to sell its 50 percent nonoperated interest in the Foster Creek Christina Lake (FCCL) oil sands partnership, as well as the majority of it...
3/29/2017 - Oil Sands - Canada
ConocoPhillips Sells Oil Sands & Gas Assets to Cenovus in $17.7B Deal
ConocoPhillips (COP) has signed a definitive agreement with Cenovus (CVE) to sell its 50 percent nonoperated interest in the Foster Creek Christina Lake (FCCL) oil sands partnership, as well as the ma...
3/29/2017 - Acquisitions and Divestitures - Canada
ExxonMobil Extends Life of Sigyn Field in the Norwegian North Sea
The Norwegian Petroleum Directorate has granted consent for continued use of the subsea facilities on the Sigyn field in the North Sea from the end of 2017 until the end of 2022. In its application, o...
3/23/2017 - Development - Norway
Gastar Exploration Acquires STACK Leasehold
Gastar Exploration Inc. (Gastar) has completed the acquisition of additional working and net revenue interests in approximately 66 gross (9.5 net) producing wells and 5,670 net acres of additional STA...
3/22/2017 - Acquisitions and Divestitures - United States
Marathon Oil Acquires $700 Million Northern Delaware
Marathon Oil Corporation announced the signing of a definitive agreement to acquire approximately 21,000 net surface acres largely in the Permian's Northern Delaware basin of New Mexico from Black Mou...
3/21/2017 - Acquisitions and Divestitures - United States
Pioneer Sells Northeastern Martin County Acreage for $266m
Pioneer Natural Resources Company (Pioneer) has signed a purchase and sale agreement with an undisclosed buyer to sell its previously-announced acreage package in northeastern Martin County, Texas, fo...
3/15/2017 - Acquisitions and Divestitures - United States
WorleyParsons Signs Multi-Regional Agreement with Chevron
WorleyParsons has signed a long term multi-regional agreement with Chevron for engineering and procurement services. The scope of the agreement allows use in all engineering phases of Chevron’s capita...
3/13/2017 - Engineering - United States
Enerplus Divests Alberta & Saskatchewan Assets for $67.3 Million
Enerplus Corporation has entered into definitive agreements to sell various Canadian properties located in Alberta and southwest Saskatchewan for aggregate proceeds of $67.3 million, before customary ...
3/9/2017 - Acquisitions and Divestitures - Canada
ExxonMobil to Acquire 25% Interest in Mozambique Area 4 from Eni
ExxonMobil and Eni have signed sale and purchase agreement to enable ExxonMobil to acquire from Eni a 25 percent indirect interest in the natural gas-rich Area 4 block, offshore Mozambique. Eni curren...
3/9/2017 - Acquisitions and Divestitures - Mozambique
Chevron Starts Production at Mafumeira Sul Offshore Angola
Chevron Corporation announced that its subsidiary, Cabinda Gulf Oil Company (CABGOC) Limited, has commenced oil and gas production from the main production facility of the Mafumeira Sul project offsho...
3/8/2017 - Production - Angola
Chevron Affirms Production, Margins & Cash Flow Growth Plans
Chevron Corporation hosted its annual security analyst meeting in New York where executives highlighted the company's growing free cash flow from its advantaged portfolio. ...
3/7/2017 - Financials and Investment - United States
Exxonmobil Plans Investments of $20 Billion in US Gulf Region
Exxon Mobil Corporation is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of $20 billion over a 10-year period to take advantage of the American energy revo...
3/6/2017 - Investment - United States
Sevan Marine Secures Long Term Framework Agreement with ExxonMobil
Sevan Marine ASA has entered into a long term framework agreement with ExxonMobil for the provision of services and use of Sevan Marine’s cylindrical hull technology. Sevan Marine has worked with Exxo...
2/24/2017 - Engineering - Norway
Chevron & Angola Government in Tax & Investment Talks
U.S. energy company Chevron is in talks with the Angolan government and state oil firm Sonangol to revise tax terms and any future investment will hinge on those talks, a senior company official was q...
2/22/2017 - Financials and Investment - Angola
ConocoPhillips Revises Down over 1 bln bbls of Oil Sands Reserves
ConocoPhillips has revised down over a billion barrels of oil sands reserves because of low global crude prices, a company filing showed on Tuesday, the latest sign that some of Canada's vast hydrocar...
2/22/2017 - Oil Sands - Canada
Chevron Awarded Exploration Permit off Western Australia
Chevron has paid $3 million for a cash bid permit to secure the right to explore an area off the Western Australian coast for the next six years. The award was made as part of the Australian Governmen...
2/20/2017 - Mergers and Acquisitions - Australia
Supreme Court of Yukon Approves ExxonMobil's Acquisition of InterOil
InterOil Corporation announced that the Supreme Court of Yukon has granted a final order approving the arrangement between InterOil and Exxon Mobil Corporation (ExxonMobil). The arrangement was approv...
2/20/2017 - Mergers and Acquisitions - Papua-New Guinea
ExxonMobil Sets Record in High Performance O&G Reservoir Computing
ExxonMobil, working with the National Center for Supercomputing Applications (NCSA), has achieved a major breakthrough with proprietary software using more than four times the previous number of proce...
2/16/2017 - Process Simulation - United States
ExxonMobil Awards License for Efficient Drilling Technology
ExxonMobil has awarded to Pason Systems, Inc. the first global license of its patented Drilling Advisory System™, a key component of the company’s Fast Drill™ technology suite. The licensing agreement...
2/10/2017 - Drilling - United States
Ecuador to Pay ConocoPhillips $380M
ConocoPhillips’ (COP) wholly owned subsidiary, Burlington Resources Inc., received an arbitration award of $380 million from an international arbitration tribunal, constituted under the International ...
2/8/2017 - Financials and Investment - Ecuador
Bangladesh to Bid for Chevron Gas Fields after Assessing Reserves
Bangladesh is hiring an international firm to assess reserves at Chevron Corp's natural gas fields in the country before placing a formal bid to buy the assets, its energy minister told Reuters on Mon...
1/30/2017 - Geological and Geophysical - Bangladesh
Chevron Names Michael K. Wirth Vice Chairman
Chevron Corporation (CVX) said that Michael K. Wirth, executive vice president of Midstream and Development, has been named vice chairman, effective February 1, 2017. ...
1/25/2017 - Executive Recruiting - United States
Fraudulent Ecuadorian Judgment against Chevron Subsidiary
A Canadian court has ruled that the fraudulent Ecuadorian judgment against Chevron Corporation cannot be enforced against Chevron Canada Limited, an indirect subsidiary. The court found that Chevron C...
1/20/2017 - Legal - Canada
Baytex Energy Closes Peace River Acquisition
Baytex Energy Corp. (Baytex) announces the closing of its previously announced acquisition of heavy oil assets located in the Peace River area of northern Alberta. Cash consideration for the acquisiti...
1/20/2017 - Acquisitions and Divestitures - Canada
Norway Awards 56 Production Licences in APA 2016 Licensing Round
The Ministry of Petroleum and Energy today offers 29 oil-companies participation in 56 production licenses on the Norwegian Continental Shelf in the Award in Pre-Defined Areas 2016 (APA 2016) licensin...
1/17/2017 - Acquisitions and Divestitures - Norway
ExxonMobil to Double Permian Basin Resource to 6 Billion Barrels
Exxon Mobil Corporation will more than double its Permian Basin resource to 6 billion barrels of oil equivalent through the acquisition of companies owned by the Bass family of Fort Worth, Texas, with...
1/17/2017 - Mergers and Acquisitions - United States
Noble Buys Clayton Williams for $2.7 Billion to Grow in Permian
Noble Energy Inc. agreed to buy Clayton Williams Energy for $2.7 billion in stock and cash to expand in America’s hottest shale play. ...
1/16/2017 - Mergers and Acquisitions - United States
Noble Energy to Acquire Clayton Williams Energy
Noble Energy, Inc. (Noble Energy) and Clayton Williams Energy, Inc. (Clayton Williams Energy) announced that the Boards of Directors of both companies have unanimously approved and the companies have ...
1/16/2017 - Mergers and Acquisitions - United States
ConocoPhillips Announces Willow Discovery in National Petroleum Reserve
ConocoPhillips Alaska Inc. announced a new oil discovery in the Greater Mooses Tooth (GMT) Unit located in the northeast portion of the National Petroleum Reserve – Alaska (NPRA). The Willow discovery...
1/13/2017 - Exploration - United Kingdom
Anadarko to Sell Eagle Ford Shale Assets for $2.3 Billion
Anadarko Petroleum Corporation has agreed to sell its Eagle Ford Shale assets in South Texas for approximately $2.3 billion to Sanchez Energy Corporation and Blackstone Group LP. Anadarko's sponsored ...
1/12/2017 - Acquisitions and Divestitures - United States
ExxonMobil Announces New Oil Discoveries Offshore Guyana
ExxonMobil announced positive results from its Payara-1 well offshore Guyana. Payara is ExxonMobil’s second oil discovery on the Stabroek Block and was drilled in a new reservoir. The Payara-1 well ta...
1/12/2017 - Drilling Engineering & Equipment Systems - Guyana
Nigeria Oil Union Suspends Three-Day Nationwide Strike after Talks
A Nigerian oil labor union has suspended a nationwide three-day strike over job losses that hit petrol stations and oil tankers, following talks with the government on Wednesday. The Nigeria Union of ...
1/11/2017 - Executive Recruiting - Nigeria
Oil Workers Go on Strike at Crude Flow Station in Niger Delta
Nigerian oil workers have gone on strike at the Oleh crude oil flow station in the Niger Delta oil hub because they have not been paid recently, a labour union official said. "The striking workers at ...
1/11/2017 - Safety Services - Nigeria
Nigerian Oil Union Threatens Three-day Strike at Exxon Mobil, Chevron
A Nigerian oil labor union will stage a three-day strike at Chevron and Exxon Mobil fuel depots from Wednesday in a protest over sackings if talks with the government fail, union officials said. The N...
1/9/2017 - Safety Services - Nigeria
ExxonMobil Develops Efficient New Technology to Dehydrate Natural Gas
ExxonMobil announced its development of cMISTTM technology, which dehydrates natural gas using a patented absorption system inside pipes and replaces the need for conventional dehydration tower techno...
1/5/2017 - Process Technology Licensing - United States
Chevron Resumes Operation at Gorgon LNG Train 1
Chevron Corp has resumed production of liquefied natural gas (LNG) at one of its two units at the $54 billion Gorgon project, located off Western Australia, after an outage of slightly more than a mon...
1/4/2017 - Production - Australia
Chevron Resumes Operation at Gorgon LNG Train 1 After Month-Long Outage
Chevron has resumed production of liquefied natural gas (LNG) at one of its two units at the $54 billion Gorgon project, located off Western Australia, after an outage of slightly more than a month. ...
1/4/2017 - Production - Australia
Encana Expects 2017 Plan to Exceed Forecasts
Encana delivered strong performance in the fourth quarter of 2016, and the company now expects that its 2017 plan will exceed forecasts previously shared at its Investor Day in October 2016. The compa...
1/4/2017 - Financials and Investment - Canada
Oil Trader Gunvor Suing Cerberus over Failed Chevron Bid
Oil trader Gunvor Group is suing Cerberus Capital Management, alleging that the private-equity firm is refusing to pay its share of costs incurred when the two companies made a failed $650 million bid...
1/4/2017 - Financials and Investment - South Africa
SM Energy Sells Non-Operated Eagle Ford Assets for $800m
SM Energy Company has entered into a definitive agreement with a subsidiary of Venado Oil and Gas, LLC , an affiliate of KKR, for the sale of the Company's third party operated assets in the Eagle For...
1/3/2017 - Acquisitions and Divestitures - United States
ExxonMobil Reaches Agreement with Rex W. Tillerson
The board of directors of Exxon Mobil Corporation (XOM) has reached an agreement with Rex W. Tillerson, former chairman and chief executive officer, to sever all ties with the company to comply with c...
1/3/2017 - Oil & Gas Companies - United States

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