Marathon Oil Corp. used to represent everything that was wrong with U.S. shale: enormous debtloads, lavish executive pay and a seeming willingness to spend whatever it took to boost output. The company hemorrhaged money, and the stock plunged 84% from a peak in 2014 through the end of last year.
US-based EOG Resources will make its first foray in Australia after buying 100% stake in the high-risk Beehive prospect that could hold up to 1.4 billion barrels of oil equivalent (boe). Beehive is potentially the largest undrilled hydrocarbon prospect in Australia.
Tethys Oil has spudded an exploration well on Block 49, in Oman, with work expected to take 45 days.
Oman’s Ministry of Energy and Minerals has signed a deal with the US’ EOG Resources for Block 36.
The oil and gas industry shed nearly 51,000 drilling and refining jobs in March, a 9% reduction that is likely to get worse as futures prices fell into negative territory Monday.
Cheniere Energy has signed a deal to provide liquefaction services to EOG Resources, a US-based shale producer.
Some of the top oil and gas companies received perfect scores in the new LGBT workplace equality rankings, but the energy sector still ranks at the bottom for inclusion standards out of all industries nationwide.
Tailwind Energy has agreed to buy the UK business of Houston-headquartered oil and gas firm EOG Resources.
Many of the largest oil and gas drillers operating in the US will voluntarily reduce emissions of methane, a potent greenhouse gas, even as the Trump administration takes steps to to roll back existing environmental regulations targeting those emissions.