Update: ConocoPhillips agrees to buy Marathon Oil, FT reports
ConocoPhillips has agreed to buy Marathon Oil (NYSE:MRO) in a $17 billion all-stock deal.
Marathon Oil
Marathon’s West African hub plan takes shape
As of January 1, 2024, LNG produced from the Alba field “will be sold into the global LNG market, which is expected to drive a significant financial uplift for our company given the material arbitrage between Henry Hub and global LNG pricing”.
Equatorial Guinea sets out Zafiro, gas hub plans
“Production is not at the level we would like. We intend to own the asset and we need a new plan of development, which will take different things into consideration,” he said. Many wells need to undergo workovers, he said, in order to make it fit for the long term.
Decom North Sea plotting rebrand as it seeks to rekindle ‘mojo’
After a tough few years for Decom North Sea (DNS), a new leadership team is now ready to give the organisation some deserved “love and attention”.
Former Ithaca Energy CEO becomes chairman of Jersey Oil and Gas
Jersey Oil and Gas (JOG) has announced changes at its top table as the company reaches a “pivotal” stage in its growth.
Etinde partners consider exports via Equatorial Guinea
Partners on Cameroon’s Etinde have warned that costs to develop would be much higher than initially thought and exports via Equatorial Guinea may be the answer.
EG LNG out of action following “incident”
An unspecified incident on September 26 has disrupted operations at Equatorial Guinea’s LNG plant.
After blowing $300bn, US shale finally makes money
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.
Independent Oil and Gas hires former Ithaca, Marathon man as COO
Independent Oil and Gas (IOG) has hired an experienced North Sea project manager and military man as its new chief operating officer (COO).
SSE strikes deal to sell gas portfolio to Viaro, which offloads Brae area for 75p
Energy firm SSE has clinched a deal to sell its gas exploration and production assets to Viaro Energy for £120 million.
RockRose founder Andrew Austin makes North Sea return with new company
Andrew Austin is making his North Sea return with a new investment company, aimed at buying up UK assets, after selling RockRose Energy.
Pirates attack EG LNG site, kidnap crew
A pirate attack at Equatorial Guinea’s LNG terminal has exposed onshore security shortcomings.
As rubble is cleared, legal cloud hangs over Marathon Oil building collapse
The aftermath of the deadly construction collapse inside the Marathon Oil building in west Houston is expected to result in complex and lengthy litigation with numerous companies involved in the project where three construction workers were killed Monday.
Marathon Oil stairway collapse kills three workers
Three workers are dead and one is injured after a stairway collapse at the future headquarters of Marathon Oil.
VFuels wins Malabo modular refinery study
Equatorial Guinea has awarded a feasibility study on a proposed modular refinery, in Punta Europa, to VFuels Oil & Gas Engineering.
No ‘adverse impact’ on North Sea operations due to Covid-19, RockRose boss says
RockRose Energy hasn't experienced any "adverse impact" on its North Sea operations due to the Covid-19 outbreak, according to the firm's boss.
Changes reflected at ‘Hill’
Hill of Rubislaw in Aberdeen reflects the changing face of the North Sea oil and gas industry, two of the north-east’s leading commercial property experts said yesterday.
Marathon talks the talk in Equatorial Guinea
Marathon Oil has stepped up its plans for Equatorial Guinea, targeting the delivery of first gas from the Alen backfill project by the end of 2020.
‘Total wideboys!’ – emails show Taqa management’s reaction to RockRose-Marathon deal
Court documents have revealed emails between Taqa senior management, who described RockRose’s deal with Marathon Oil as their “worst fear”, calling the London-headquartered company “total wideboys”.
RockRose ousted from Brae operator role after partners raise ‘serious concerns’
RockRose Energy has lost control of its only operated platforms in the UK North Sea after three partner companies raised “serious concerns” in court about its ability to run the assets.
Taqa takes over operatorship of North Sea area from RockRose
RockRose Energy has been ousted as operator of a North Sea hub with Taqa UK set to take over control thanks to a legal challenge brought by its partners.
RockRose Energy to continue acquisition hunt in 2020
RockRose Energy has announced it will press on with the hunt for more North Sea acquisitions this year.
Total resolves Waha woes with Libya’s NOC
Total has reached an agreement with Libya’s National Oil Corp. (NOC) on the French company’s acquisition of a stake in the Waha concessions.
North-east experts to discuss energy investment at Aberdeen renewables event
Two north-east energy sector experts will speak at a renewables event to be held in Aberdeen in December.
Marathon Oil profits slip by 35% as production rises
Marathon Oil posted a $165 million profit for the third quarter that dipped 35 percent from a year ago.