The Dead Cow Lives

SLB to Argentina's Vaca Muerta to frack for Vista, ADNOC Drilling's Enersol boosts stake in Gordon Technologies, plus Oceaneering's subsea contract and UGI's senior notes offering.

Author

Rob Quigley
June 12, 2024

by VSO Petroleum Consultants. Oil and Gas industry news for those in the deal flow (Investors and A&D Professionals). Your daily source for the latest A&D/M&A news, industry news, and expert interviews.

First Things First:

Vista Energy to import SLB fracking set to boost production from Argentina's Vaca Muerta shale.

Vista Energy to import SLB fracking set to boost production from Argentina’s Vaca Muerta shale

The addition will mean Vista has two fracking crews and related equipment in operation. The company is aiming to raise production 55% to the equivalent of 85,000 bpd by the fourth quarter, and start production on 138 new oil wells by 2026 in an effort to reach 100,000 bpd.

www.worldoil.com/news/2024/6/11/vista-energy-to-import-slb-fracking-set-to-boost-production-from-argentina-s-vaca-muerta-shale

ADNOC Drilling's Enersol boosts drilling capacity with $270M stake in Gordon Technologies WorldOil. 

Canada removes significant tax benefits for oil extraction, affecting profitability in the industry TBSNews.

Horizon completes 25% stake acquisition in Mereenie field in Australia NaturalGasWorld.

VSO is the go-to consulting firm for buy-side technical due diligence. We can handle all your technical evaluations or can be your spare capacity when you need overflow help. If you’re in the deal flow, let’s work together.

Daily Headlines

  • ADNOC Drilling's Enersol increases stake in MWD provider Gordon Technologies for $270 million WorldOil.

  • Vista Energy to import SLB fracking set to boost production from Argentina's Vaca Muerta shale WorldOil.

  • Oceaneering International secures $183 million subsea contract for work offshore Brazil from Petrobras WorldOil.

  • Mexico lawmakers express frustration as they debate new oil and gas setbacks and regulations KRQE.

  • Chevron plans to implement a $5 billion share buyback program in the third quarter of 2024 Bloomberg.

  • Canada removes significant tax benefits for oil extraction, affecting profitability in the industry TBSNews.

  • ExxonMobil announces a boost in dividends, reflecting strong financial performance FT.

  • BP signs a significant LNG supply deal with Chinese firm CNOOC, expanding its market reach Reuters.

  • TotalEnergies purchases Uganda oil assets for $300 million, marking a strategic expansion OilPrice.

  • ADNOC's new investment in MWD technology aims to enhance drilling capabilities and efficiency Worldoil.

  • Chevron increases its dividend payouts as oil prices stabilize, signaling confidence in market stability Bloomberg.

  • ADNOC acquires Gordon Technologies to significantly enhance its drilling capabilities Worldoil.

  • Shell cuts oil output in the US Gulf due to maintenance work, impacting production levels WSJ.

  • ADNOC's increased stake in Enersol indicates a strategic focus on drilling technology advancement OilPrice.

  • ExxonMobil to acquire Pioneer Natural Resources for $60 billion, enhancing its oil and gas portfolio Reuters .

  • ConocoPhillips reports first-quarter earnings that surpass market expectations, showing strong performance CNBC.

  • BP to invest $1.5 billion in US renewable energy projects, supporting its transition to cleaner energy sources Reuters.

  • Noble Energy begins production at the Leviathan gas field, marking a significant milestone HartEnergy.

  • Marathon Oil announces plans to expand operations in the Bakken shale region, increasing production capacity HartEnergy.

  • Eni starts production at Mexico's Amoca field, enhancing its presence in the region's oil market WorldOil.

Deal Flow

M&A/Investment

  • ADNOC Drilling's Enersol increases stake in MWD provider Gordon Technologies for $270 million WorldOil.

  • Horizon completes acquisition of 25% stake in Mereenie field in Australia NaturalGasWorld.

  • Eni launches sale of Saipem interest worth $440 million WorldOil.

  • Jennmar expands oil and gas offerings with GR deal HartEnergy.

IPO/Direct Listing/Issuances/Block Trades

  • No deals that match this criteria.

Debt

  • UGI subsidiaries commence $450 million offering of senior notes HartEnergy.

SPAC

  • No deals that match this criteria.

Bankruptcy/Restructuring/Distressed

  • No deals that match this criteria.

Fundraising

  • No deals that match this criteria.

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