Transocean President, COO to Assume CEO Position in 2Q25
Transocean Ltd. announced a CEO succession plan on Feb. 18 in which President and COO Keelan Adamson will take the reins of the company as its chief executive in the second quarter of 2025.
Element Six, Master Drilling Announce Tunnel Development Partnership
Element Six and Master Drilling will deliver a diamond-enabled solution designed to increase tunneling development speed, reducing costs and minimize the environmental impact of tunnel construction.
Natural Gas Prices Shoot Past $4
The market has responded to an oncoming cold snap, sending natural gas prices at the Henry Hub over $4/MMBtu.
GA Drilling Moves Deep Geothermal Tech Closer to Commercialization
The U.S. Department of Energy estimates the next generation of geothermal projects could provide some 90 gigawatts in the U.S. by 2050.
Pair of Large Quakes Rattle Texas Oil Patch, Putting Spotlight on Water Disposal
Two large earthquakes that hit the Permian basin, the top U.S. oilfield, this week have rattled the Texas oil industry and put a fresh spotlight on the water disposal practices that can lead to increases in seismic activity, industry consultants said on Tuesday. A magnitude 5.0 quake struck on Feb. 14, followed by a magnitude …
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Diamondback, Double Eagle Form JV to Drill in Southern Midland Basin
Double Eagle IV is selling mostly undeveloped, core Midland Basin acreage to Diamondback Energy for $4.1 billion. Double Eagle will retain a significant amount of existing production in the southern Midland Basin, where it’s partnering with Diamondback to “accelerate development.”
US NatGas Prices Jump 8% to 3-Week High as Cold Freezes Wells
(Reuters) – U.S. natural gas futures jumped about 8% on Tuesday to a three-week high, as extreme cold in some parts of the country cut output by freezing oil and gas wells, while gas flows to liquefied natural gas (LNG) export plants reached records and forecasters predicted more cold weather and higher heating demand over …
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Occidental to Divest Some Upstream Assets for $1.2 Billion
By Tanay Dhumal Feb 18 (Reuters) – Occidental Petroleum (OXY.N) said on Tuesday that it had struck two deals in the current quarter to divest some upstream assets to undisclosed buyers for a total of $1.2 billion, although its current-quarter production forecast fell short of expectations. The transactions, which include Rockies non-operated assets and Permian …
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Chevron Staffers Absorb Long-Awaited Layoffs as CEO Pledges Accountability
By Ernest Scheyder and Sheila Dang Chevron plans to cut up to 20% of global workforce Executives say business has become overcomplicated, costs rising Some employees say layoffs were expected HOUSTON, Feb 18 (Reuters) – During an internal town hall meeting last week, roughly 40,000 Chevron employees were shown a video touting the oil giant’s …
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West Virginia Gains Authority for Class VI Wells for CCS
The state joins North Dakota, Wyoming and Louisiana in securing approval from the Environmental Protection Agency for Class VI well primacy for carbon capture and storage.