CVX in $735MM Shale Deal and More

This article was first published on Rigzone here

Here are some of Rigzone’s top upstream stories during the last week, just in case you missed them…

Chevron to Divest Shale Assets in $735MM Deal

Bloomberg reported that EQT Corp. has agreed to buy Chevron Corp.’s Appalachian shale assets for $735 million. The deal is expected to close by the end of the year.

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Total Announces Significant Discovery

Total announced that it has made a significant gas and condensate discovery on the Luiperd prospect, which is located offshore South Africa. The Luiperd well was drilled to a total depth of about 11,154 feet and encountered just under 240 feet of net gas condensate pay in well-developed good quality Lower Cretaceous reservoirs, according to Total.

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Biggest US Gas Producer May Get Even Bigger

Bloomberg reported that, according to people familiar with the matter, EQT Corp. is seeking to acquire CNX Resources Corp.

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Who Controls the Permian?

There’s been an ongoing pendulum swing between majors and independents as the controlling group of the Permian basin’s destiny for many years, but who controls the region now?

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Ship Collides with Platform

The Dayang Topaz ship collided with the Baram B oil rig platform offshore Malaysia. Following the collision, the vessel reportedly started sinking with 62 crew still on board.

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25 Percent of Floater Fleet Could be Scrapped

One quarter of the global floater segment could be scrapped, according to Rystad Energy, which outlined that restructuring in the “already stretched” offshore drilling market will accelerate.

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Austin Chalk Player to Drill Another Well This Year

Millennium Exploration Co., LLC plans to drill a fourth well by the end of this year in its Chalk Talk multi-well development in the Austin Chalk formation in South Texas, parent company Millennium PetroCapital Corp. has reported.

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