BP leadership changes and continued upstream and LNG-linked investment activity led the week across North American and global energy markets.
Top Stories
- Head of BP’s gas and low-carbon segment set to leave in Q3
BP’s head of gas and low-carbon is set to depart as the company restructures around a more focused upstream and downstream model. The move signals a shift toward core oil and gas operations as the company tightens its global strategy.
- Post Oak makes 4th portco sale in 2 weeks, this time in SCOOP
Post Oak Energy Capital completed its fourth portfolio company sale in under two weeks with a divestment in the SCOOP. The pace highlights continued buyer demand for upstream assets and ongoing private equity
capital recycling.
- Obsidian to shell out ~C$200M for capex bump, Belly River buy
Obsidian Energy is increasing capital spending by roughly C$200 million and expanding its Belly River position through acquisition. The strategy targets production growth and improved cash flow generation.
- Athabasca Oil ramps up liquidity ahead of expansion plans
Athabasca Oil expanded its credit capacity to strengthen liquidity ahead of growth initiatives. The added flexibility supports plans to scale thermal production and advance development in the Duvernay.
- Chevron files plan for $13.8B development project in Vaca Muerta
Chevron submitted a development plan for a $13.8 billion unconventional project in Argentina’s Vaca Muerta. The project underscores the basin’s importance for long-term supply growth and is supported by new
government incentives.
Additional Stories
Also this week: Germany advances Ksi Lisims LNG supply deal; Cheniere moves forward on Sabine Pass expansion work; Patterson-UTI sees stronger pricing and demand outlook; Weatherford lands Exxon Nigeria contract; H&P partners with Baker Hughes on geothermal.
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