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Altus Midstream opens it new Permian Basin processing plant
June 1, 2019
Source: Energy Voice

Altus Midstream opens it new Permian Basin processing plant

Houston bases Apache Corp.’s Altus Midstream Co. has announced the opening of its new Permian Basin processing plant. This plant will treat its production of natural gas and natural gas liquids. Apache’s gas output is expected to experience a rise with this plant. Further, this plant would help in processing purer streams of natural gas in large volumes.

Operations resume at Houston shipchannel
May 13, 2019
Source: CNN

Operations resume at Houston shipchannel

Traffic resumed at the Houston Ship Channel amidst continuous cleanup efforts to cover up the aftermath of a spill in the region. A collision in the channel between a 755-foot oil tanker and a tug pushing two barges on Friday spilled thousands of barrels of gasoline blending product into the channel. US Coast Guard informed that the collision capsized one barge, impaired the other and triggered the leak.

ConocoPhillips' profit doubles in the first quarter
May 1, 2019
Source: Energy Voice

ConocoPhillips' profit doubles in the first quarter

The energy major, ConocoPhillips has reported an increase in profits with net income surging to more than $1.8 billion. Its revenue increased to more than $10 billion in the first quarter of this fiscal year. Chief Executive Ryan Lance commented, "We continue to execute and deliver on a plan that’s resilient to lower prices while offering investors upside to higher prices.”

Mitsui’s ITC slammed with water pollution charges
April 30, 2019
Source: Reuters

Mitsui’s ITC slammed with water pollution charges

Mitsui’s Intercontinental Terminals Co (ITC) has been alleged with five charges by the Harris County district over the toxic chemical spill in Houston ship channel. The ITC facility in Houston was caught in a fire last month, after which a containment wall rupture leaked toxic chemicals into the Houston ship channel. A statement from the District Attorney read that the water pollution scaled to “criminal levels” during the leak.

Apache to cut on its production in Permian Basin
April 24, 2019
Source: Energy Voice

Apache to cut on its production in Permian Basin

Houston based Apache Corp. has informed about its natural gas production cut in the Permian Basin. This step has been taken for an extended period of time because of the sharp pricing discounts led by pipeline shortages in the region. Apache will reduce its production by 250 million cubic feet per day. Chief Executive of Apache said, "This is the proper approach from both an environmental and economic perspective".

Crestwood acquires 50% interests in Jackalope
April 11, 2019
Source: World Oil

Crestwood acquires 50% interests in Jackalope

Crestwood Niobrara has acquired 50% interests in Jackalope Gas Gathering Services from Williams. The acquisition is worth approximately $485 million. Crestwood went ahead to acquire William's interest as a part of its plan to expand its operations in the core growth basins. "We would like to thank Williams for what has been a very strong partnership over the last several years ", said Crestwood's CEO.

ConocoPhillips contributes $1 million to back Data Science
April 10, 2019
Source: World Oil

ConocoPhillips contributes $1 million to back Data Science

US oil major, ConocoPhillips yesterday announced a contribution of $1 million to the University of Houston’s College of Natural Sciences and Mathematics (NSM). ConocoPhillips’ aid aims at fulfilling the rising demand for data science education. The contribution will be used to fund new faculty positions in the computer science and mathematics departments in the University, including the fellowships for graduate students with strong data science skills.

Quantum Energy to sell assets of Oryx for $3.6 billion
April 3, 2019
Source: World Oil

Quantum Energy to sell assets of Oryx for $3.6 billion

The private equity firm of Houston, Quantum Energy Partners and its affiliates Post Oak Energy Capital, Concho Resources, WPX Energy and others have informed that they want to sell all of the assets of Oryx Southern Delaware Holdings LLC and Oryx Delaware Holdings LLC. The company and its affiliates have entered into an agreement to sell all the assets of Oryx to Stonepeak Infrastructure Partners for $3.6 billion.

Key stretch of Houston port remains closed for the third day
March 25, 2019
Source: Reuters

Key stretch of Houston port remains closed for the third day

With emergency workers siphoning leaked fuel from the United States’ busiest oil port, ship traffic remained at halt along the key stretch of Houston Ship Channel yesterday. A containment barrier at Mitsui & Co Inc’s Texas ITC breached on Friday spilling fuel. The Houston Ship Channel covers nine US oil refineries that process 2.3 million barrels of oil per day (bpd).

Carrizo announces Q4 results
Feb. 26, 2019
Source: World Oil

Carrizo announces Q4 results

Texas-based Carrizo Oil and Gas Inc. has revealed its fourth quarter results. The company has reported the total production of 68,328 boed in this quarter which is 9% more than the corresponding quarter of the last year. Also, 26% increase from the corresponding last year's quarter has been reported in the proved reserves of the company.

BP spends £3.8m on AI technology
Jan. 29, 2019
Source: Energy Voice

BP spends £3.8m on AI technology

Houston-based start-up Belmont Technology has received an investment of £3.8 million from oil supermajor, BP Plc. Belmont has developed a cloud-based geoscience platform using AI, which links geology, geophysics, reservoir and project information. The platform will enabled BP to gain a clearer understanding of its subsurface assets. Belmont’s technology aims at a 90% time-reduction in data collection, interpretation and simulation.

Clock Spring licenses new gasket technology
Dec. 20, 2018
Source: World Oil

Clock Spring licenses new gasket technology

Houston-based Clock Spring has informed about a new technology licensing and distribution agreement for the Pipeotech AS DeltaV-Seal technology. The licensed metal-to-metal gasket technology will improve operations in refineries and petrochemical plants, apart from terminals and on upstream gathering lines. Clock Spring’s gasket employs DeltaV-Seal technology under license from Pipeotech AS.

Fairfield sells Seismic Technologies business to Magseis
Nov. 1, 2018
Source: World Oil

Fairfield sells Seismic Technologies business to Magseis

Houston-based Fairfield Geotechnologies has farmed out its Seismic Technologies business. The firm informed today that it entered into an agreement with Norway-based Magseis ASA. Fairfield’s Seismic Technologies business comprises of data acquisition, nodal and system sale & rental activities. Magseis will also get ownership of all shares in Fairfield's wholly-owned, WGP Group.

Nine Energy acquires Magnum
Oct. 17, 2018
Source: World Oil

Nine Energy acquires Magnum

Houston’s Nine Energy Service acquired downhole technology provider company, Magnum Oil Tools International. With this acquisition, Nine Energy becomes one of the premier providers of completion focused technology. Magnum has a large scale of proprietary downhole completion products like dissolvable and composite frac plugs, and other patented consumables. Nine’s President and CEO commented, “We could not be more thrilled to partner with Magnum.”

Commonwealth LNG awards a contract to TechnipFMC
Oct. 17, 2018
Source: World Oil

Commonwealth LNG awards a contract to TechnipFMC

TechnipFMC will be providing engineering services and development on the Calcasieu Ship Channel in Louisiana. The UK-based company was awarded this contract by Commonwealth LNG. Commonwealth has also signed an agreement with Lloyd Engineering for the marine facility and turning basin design. The company’s CEO said that the aim of Commonwealth LNG is to become the low-cost provider for the US LNG liquefaction projects.

Henderson plans on improvement
Sept. 18, 2018
Source: World Oil

Henderson plans on improvement

Aiming to improve the service capabilities and to keep up with the growing oil and gas market of North America, Henderson acquired HP Piping Solutions. It has taken over all the ongoing operations and all the assets of HP. HP piping Solutions has equipment for almost all the sectors of the industry, including high-pressure mud piping, mud gas separators, relief loops, and other drilling products.

US offshore oil production to revive
Sept. 10, 2018
Source: Energy Voice

US offshore oil production to revive

Offshore oil production has given hopes to the Houston- based and many other energy companies to restart their hindered deepwater projects. The offshore production has indicated improved oil prices and efficient operations. Recovery regions of the sector include Scandinavia, West Africa, Southeast Asia, and Latin America. Increasing new discoveries in these areas and lower cost of production has attracted the companies who are looking to make money outside shale.

ConocoPhillips initiates seize campaign against PDVSA
May 16, 2018
Source: Reuters

ConocoPhillips initiates seize campaign against PDVSA

The Houston-based energy corporation, ConocoPhillips, has started seizing PDVSA assets in efforts to collect on an award by the International Chamber of Commerce (ICC) over the 2007 nationalization of its ventures in Venezuela. CEO, ConocoPhillips, Ryan Lance has implied that the organization intends on to intensify the seize process against PDVSA across the globe. This move has upset fuel distributions throughout the Caribbean, the effect which the company wants to minimize.

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