Carolyn Davis

Constitution Pipeline, designed to carry natural gas from Pennsylvania’s Marcellus Shale to New York and New England markets, has been given the green light by FERC to begin construction.

Natural gas and oil production has started up from the Jack/St. Malo fields from one of the largest production facilities ever designed for the deepwater Gulf of Mexico (GOM), with total production by 2020 forecast to reach 21 MMcf/d of natural gas and 94,000 b/d of crude oil.

Devon Energy Corp. President and CEO John Richels, 63, is retiring effective July 31, with COO Dave Hager slated to take the helm. Richels is to become chairman in 2016 when co-founder Larry Nichols, 72, retires and becomes chairman emeritus, the board of directors said. “John’s vision and leadership have delivered significant value to Devon shareholders for many years and particularly as we recently repositioned and rebalanced the company as a leading North American exploration and production company,” said Nichols. Hager, 58, “has been instrumental in the rebalancing of our portfolio and his focus on creating shareholder value, his integrity and his many other positive attributes will serve all stakeholders well,” said Richels, who joined Devon in 1998. Richels was elected president in 2004 and named CEO in 2010 when Nichols retired. Hager joined Devon in 2009 as executive vice president of exploration and production. Hager previously worked forAnadarko Petroleum Corp. predecessor Kerr-McGee Corp. He has a bachelor’s degree in geophysics from Purdue University and a master’s degree in business administration from Southern Methodist University.

An increased focus on capital returns, uncertainty over global commodity prices and rising geopolitical risks have dampened enthusiasm among exploration and production (E&P) executives worldwide, a survey has found.

The global economy may be increasingly stable, with resilient equity markets, but the global oil and gas landscape for mergers and acquisitions (M&A) is only cautiously optimistic, according to EY’s 11th biannual Oil and Gas Capital Confidence Barometer.

The oil minister of Saudi Arabia last week successfully argued against reducing OPEC oil output by telling fellow members they needed to combat the growing influence of U.S. shale oil production. Now oil markets will have to find a “new equilibrium,” with the squeeze on U.S. producers, said analysts.

Berkshire Hathaway Inc.’s Lubrizol Corp. agreed Monday to buy two Weatherford International plc oilfield chemicals businesses based in Texas that provide drilling fluids mostly for North America markets.

The $2.89 billion merger of C&J Energy Services Inc. and the completions arm of Nabors Industries Ltd. has been halted temporarily so that C&J may shop for other bids, a Delaware Chancery Court ruled Monday.

Nuverra Environmental Solutions has signed a contract to build a 150-mile water pipeline and provide related services for ExxonMobil Corp.’s North Dakota operations in McKenzie County.