Halliburton (HAL) to Offer Reliable Resource Management Platform Zacks.com 4 days ago
Halliburton Company HAL entered an eight-year contract with the Norwegian Petroleum Directorate (“NPD”) to manage and avail Diskos the national data repository of Norway.
Diskos provides seismic, well, and exploration and production data from the Norwegian Continental Shelf for the oil and gas industry. Notably, NPD contributes to value creation for the Norwegian society through efficient and reliable resource management.
Halliburton Landmark, a wholly-owned business unit of the company
, will provide Diskos 2.0 with the help of DecisionSpace 365, which is a cloud-based service for the E&P cloud applications for maximizing asset profitability.
Marathon Oil (MRO) to Redeem $500M Senior Notes to Ease Debt Load Zacks.com 3 days ago
Marathon Oil Corporation MRO entered a transaction to fully redeem the $500 million in aggregate outstanding principal amount of its 2.8% senior notes due 2022.
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Notably, the company will redeem the aforementioned senior notes on Apr 29, 2021.
The transaction will result in a $500-million reduction in gross debt and annual cash interest expenses by $14 million. Importantly, the transaction aligns with the company’s pledge to reduce gross debt by $500 million in 2021 to strengthen its balance sheet.
Marathon Oil is involved in prolific oil-producing resource plays, including the Eagle Ford in Texas, the Bakken in North Dakota, the STACK and SCOOP in Oklahoma, and the Permian Basin in New Mexico. Also, it has international production and operations in Equatorial Guinea, located on the west coast of South Africa.
Equinor ASA EQNR completed the divestment of a 10% stake in the first two phases of the Dogger Bank Wind Farm in the North Sea of the U.K. to Eni SPA E. The 3.6-gigawatts (GW) Dogger Bank Wind Farm is an offshore wind farm, which is currently being prepared in three phases, namely Dogger Bank A, Dogger Bank B and Dogger Bank C. Notably, it is a 50/50 joint venture partnership between the energy company SSE Renewables and Equinor. Eni acquired a.
Martin Midstream MMLP Divests Mega Assets to Stone Oil
Martin Midstream Partners L.P. MMLP announced the divestment of some of the assets related to its Mega Lubricants (or Mega) onshore terminals business to John W. Stone Oil Distributor, LLC, (“Stone Oil”) in a $22.4-million deal.
As an integrated manufacturing and delivery business, Mega Lubricants is actively engaged in blending, producing and offering a variety of marine application lubricants, sub-sea specialty fluids, and privately-developed commercial as well as industrial products. Moreover, it has high flexibility to manage growing customer demand for tank storage and warehouse requirements.
Stone Oil has been involved in the marine fuel and the lubricant distribution business for almost 75 years, with trading operations along the lower Mississippi River and the Gulf of Mexico. Importantly, the acquisition of Houston-based Mega is expected to expand Stone Oil’s ongoing distribution and delivery operations as they
Ecopetrol (EC) Makes Shell 50% Partner in Colombian Blocks Zacks.com 12/29/2020
Ecopetrol S.A. EC announced the completion of a pre-agreed acquisition of its 50% stake in three deepwater oil and gas blocks of Colombia by Shell EP Offshore Ventures Limited, a subsidiary of
Royal Dutch Shell Plc RDS.A.
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Shell now owns interest in the Fuerte Sur, Purple Angel and COL-5 blocks, placed in the deepwaters of the Caribbean Sea offshore Colombia where a new gas province including the Kronos (2015), Purple Angel and the Gorgon (2017) wells were found. Per Ecopetrol, the deal was consummated on Dec 23.
Notably, Shell now being the new operator of the blocks, will contribute its know-how to address the technical challenges caused by offshore operations. Beside, this oil and gas supermajor will fund Ecopetrol s investments.