Latin

U.S. exploration and production (E&P) companies arecuttingcapital expenditure (capex) by 35-40% from 2019 as oil prices continue to get hammered and demand is destroyed by the coronavirus pandemic, but spending reductions could be even harsher south of the U.S. border.

Latin America weighed on the international earnings of the top three oilfield services (OFS) operators during the first quarter.

A unit of Chevron Corp. and affiliates of Argentina’s state-controlled YPF SA have struck a long-sought agreement for the U.S. major to provide an initial $1.24 billion to further development of shale oil and gas resources from the Vaca Muerta formation in Argentina’s Neuquen province.

Private equity power broker Riverstone Holdings LLC announced Monday that it has made an investment in Three Rivers Operating Co. LLC, which in turn has signed an agreement to buy several assets in the Permian Basin of West Texas from Meritage Energy Company LLC.

Meritage Midstream Services LLC and private equity power broker Riverstone Holdings LLC on Wednesday said they were teaming up once again, with Riverstone providing $500 million to pursue new natural gas liquids (NGL) midstream opportunities in some of North America’s emerging resource plays.

Global liquefied natural gas (LNG) markets are stronger than some might have expected as demand in China, India and Latin America is supporting prices, according to Houston-based research firm Zeus Development Corp. And this means LNG regasification terminals in the United States will want for cargoes, according to Barclays Capital analysts.

Global liquefied natural gas (LNG) markets are stronger than some might have expected as demand in China, India and Latin America is supporting prices, according to Houston-based research firm Zeus Development Corp.

Duke Energy, which said in June it would spin off its natural gas unit (see Daily GPI, June 29), on Thursday put the gas company’s total capitalization at around $15.4 billion, including $6.17 billion in equity and $8.71 billion worth of debt. The separation is targeted for completion by Jan. 1, 2007.

San Diego-based Sempra Energy’s international unit was busy Thursday pushing and pulling in Latin America, trying to make things happen in its aggressive game plan south of the border.