Released February 24, 2025 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CORPORATE
ConocoPhillips to Sell Interest in Ursa, Europa Fields to Shell - ConocoPhillips (NYSE:COP) (Houston, Texas) said on Friday it would sell its interests in the Ursa and Europa Fields to Shell plc (NYSE:SHEL) (London, England) for $735 million, as part of the shale producer's plan to streamline its portfolio. Both fields are located in waters between 130 and 140 miles southeast of New Orleans, Louisiana. The transaction is expected to close by the end of the second quarter of 2025, after which Shell's working interest in Ursa would increase to 61.35% from 45.4%. (Reuters)
PRODUCTION
Baker Hughes: U.S. Rig Count Highest Since June - U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row to the highest level since June, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count rose by four to 592 in the week to February 21. Baker Hughes said oil rigs rose by seven to 488 this week, their highest since September, while gas rigs fell by two to 99. (Reuters)
Guyana's Oil Output Falls in January - Guyana's average oil production fell to some 620,000 barrels per day (BBL/d) in January from 656,000 BBL/d in December, the lowest monthly figure since August, the country's Natural Resources Ministry said on Friday in a report. A consortium led by U.S. oil major Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) and involving Hess Corporation (NYSE:HES) (New York, New York) and China's CNOOC (Beijing) controls all crude and gas output in the South American country through three floating facilities. (Reuters)
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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
CORPORATE
ConocoPhillips to Sell Interest in Ursa, Europa Fields to Shell - ConocoPhillips (NYSE:COP) (Houston, Texas) said on Friday it would sell its interests in the Ursa and Europa Fields to Shell plc (NYSE:SHEL) (London, England) for $735 million, as part of the shale producer's plan to streamline its portfolio. Both fields are located in waters between 130 and 140 miles southeast of New Orleans, Louisiana. The transaction is expected to close by the end of the second quarter of 2025, after which Shell's working interest in Ursa would increase to 61.35% from 45.4%. (Reuters)
PRODUCTION
Baker Hughes: U.S. Rig Count Highest Since June - U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row to the highest level since June, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count rose by four to 592 in the week to February 21. Baker Hughes said oil rigs rose by seven to 488 this week, their highest since September, while gas rigs fell by two to 99. (Reuters)
Guyana's Oil Output Falls in January - Guyana's average oil production fell to some 620,000 barrels per day (BBL/d) in January from 656,000 BBL/d in December, the lowest monthly figure since August, the country's Natural Resources Ministry said on Friday in a report. A consortium led by U.S. oil major Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) and involving Hess Corporation (NYSE:HES) (New York, New York) and China's CNOOC (Beijing) controls all crude and gas output in the South American country through three floating facilities. (Reuters)
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
