Majors and European-based international oil companies (IOC) invested heavily in U.S. onshore shale natural gas through both asset and corporate mergers and acquisitions (M&A) in 2009, lifting the percentage of global spending for the United States to more than 40% of worldwide transaction value, according to energy research firm IHS Herold.
Majors
Articles from Majors
ConocoPhillips to Keep E&P Capital Outlays Flat, Cut Spending in North America
ConocoPhillips, the first of the oil majors to issue 4Q2009 earnings, bounced back from year-ago losses on stronger oil prices and better-than-expected results from its cost reduction plan, the Houston-based producer said Wednesday.
ConocoPhillips to Keep E&P Capital Outlays Flat, Cut Spending in North America
ConocoPhillips, the first of the oil majors to issue 4Q2009 earnings, bounced back from year-ago losses on stronger oil prices and better-than-expected results from its cost reduction plan, the Houston-based producer said Wednesday.
Producers Fear Loss of Tax Benefits in New Congress
Producers may have dodged a bullet on the windfall profits tax (see Daily GPI, Dec. 3), but majors and independents still are concerned that Congress may revise or strip away existing tax benefits for oil and natural gas to offset revenue losses and narrow the budget deficit.
ConocoPhillips Delivers Hefty Profits for 3Q
ConocoPhillips kicked off the U.S.-based majors’ 3Q2008 earnings reports on Wednesday, and it delivered much stronger net income than in the same period a year ago, with profit rising to $5.19 billion ($3.39/share) from $3.67 billion ($2.23) in 3Q2007. Revenues also were strong, jumping to $70 billion versus $46.1 billion a year ago.
Majors Eye Gas Assets Across North America
Three of the world’s majors — ExxonMobil Corp., BP plc and Royal Dutch Shell plc — moved last week to expand their natural gas holdings onshore in North America.
ExxonMobil Builds Piceance Basin Position
ExxonMobil Corp. joined two other majors in recent days to build a bigger leasehold in natural gas plays onshore in North America.
Expanding Production, Profits in Shale Plays
Everyone, it seems, wants a piece of one of the shale plays that are spread across North America — majors, independents, privately owned producers, master limited partnerships (MLP) and even some of the neighborhoods that sit on top of them.
Shale, Shale, the Gang’s All Here
Everyone, it seems, wants a piece of one of the shale plays that are spread across North America — majors, independents, privately owned producers, master limited partnerships (MLP) and even some of the neighborhoods that sit on top of them.
Chevron, Shell Profit on Prices, but U.S. Gas Output Down
Near-record oil prices sustained the bottom line for most of the majors in 2Q2007, but the profits didn’t translate into gains in North American natural gas production for Chevron Corp. or Royal Dutch Shell plc.