Houston-based offshore driller Talos Energy agreed to take over Louisiana-based Stone Energy. The combined company will trade on the New York Stock Exchange under the "TALO" ticker.
Shale driller Bill Barrett will sell its assets in Colorado's Uinta Basin for about $110 million, choosing to focus on the Denver-Julesburg Basin. Bill Barrett's Uinta assets produced 2,300 barrels of oil equivalent per day on average in the third quarter and are estimated to contain reserves of 12 million barrels of oil equivalent.
Oil exploration and production will still need roughnecks, but the job is becoming more technical and electronic over time, says Scott Desmarais of McKinsey. Some high-risk, manual labor might become automated, but there will remain a need for many types of human activity, says Jon Krome of BHP Billiton.
The UK's 30th offshore licensing round, which ended Tuesday, attracted 96 bids for over 800 blocks in oil and natural gas areas across the UK Continental Shelf, the country's Oil & Gas Authority says. The agency, which received applications from 68 companies, said the response was strong in spite of "the difficult economic environment."
Ineos plans to buy a two-thirds stake in two oil and natural gas exploration licenses in the North Sea from Siccar Point Energy. The agreement, which involves areas north of the Shetland Islands, follows Ineos' September acquisition of DONG Energy's oil and gas business in the North Sea.
The ice-covered Oraefajokull volcano in southeast Iceland is showing signs of activity, prompting authorities to raise the alert status. Satellite images show a caldera has formed in the glacier, and residents have noticed a sulfur odor, indicating geothermal activity.
Researchers say seawater can go more than 10 kilometers below the seafloor -- deeper than previously thought -- resulting in a cooling effect on Earth's upper mantle. Scientists used a new method to study levels of chlorine in rocks to identify the presence of seawater.
The Nebraska Public Service Commission on Monday voted to allow the construction of the $8 billion Keystone XL pipeline, which is expected to create more than 42,000 jobs and generate $2 billion in economic benefits. TransCanada has yet to make a final investment decision on the project, but analysts say the pipeline will eventually see the light of day.
- Page 1