Energen Corp. management said the first quarter of 2013 was “both encouraging and challenging” as test wells in the Third Bone Spring and Wolfberry formations of the Permian Basin performed well, but cold weather and interference issues worked against the company as profits fell slightly.
Spinoff
Articles from Spinoff
ConocoPhillips Puts Chips on E&P in 2012
ConocoPhillips, which is readying a spinoff of its refinery operations to reemerge as the largest pure-play explorer in North America, is planning to spend $15.5 billion for its capital program in 2012 and repurchase up to $10 billion more of its common stock.
December 6, 2011
Industry Briefs
Marathon Oil Corp. has completed the spinoff of its refinery arm and is now an independent upstream operator. After relaunching three-year-old plans early this year, the board of directors in May voted to spin off the refinery operations into newly formed Marathon Petroleum Corp. (MPC), which is headquartered in Findlay, OH (see NGI, Jan. 17; Feb. 9, 2009). Marathon Oil, as a global exploration and production company, will continue to be led by CEO Clarence Cazalot. The upstream business remains headquartered in Houston under a new logo and will operate and report through three segments: Exploration & Production, Oil Sands Mining, and Integrated Gas.
July 4, 2011
Marathon’s Upstream Business Goes It Alone
Friday marks a new day for Marathon Oil Corp. as an independent upstream company after completing the spinoff Thursday of its downstream businesses.
July 1, 2011
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
