Tag: upstream

Severe applications seem to have a common denominator; if there is a limited number of manufacturers, say five, who are qualified to supply appropriate solutions, the application is probably severe.

Severe applications seem to have a common denominator; if there is a limited number of manufacturers, say five, who are qualified to supply appropriate solutions, the application is probably severe.

Circor International revealed it will dispose of its long-cycle upstream oil & gas engineered valve business to P&P Flow Control, an affiliate of Certina Holding AG, with an earnout of 50% of net income over seven years up to a maximum of €18M.This transaction is consistent with the company’s strategy to exit non-core businesses and further simplification.

EQT Corporation (EQT), recently announced that Robert J. McNally, EQT’s current Chief Financial Officer, will become President and Chief Executive Officer upon completion of the Company’s upstream and midstream business separation.

The upstream oil & gas industry suffered significant setbacks in 2015 and 2016, following the collapse of crude oil prices that had begun in mid-2014.

GlobalData, a data and analytics company, has reported that over USD $142 billion will be spent on 97 upcoming oil and gas fields between the years of 2018 and 2025.

The Oklahoma City-based oil-field valve manufacturer, Kimray, Inc. is now expanding into the pipeline market with a wider range of valve offerings.

Total has reported that the Fort Hills oil sands project located in Alberta, Canada, 90 kilometers north of Fort McMurray, has achieved first oil.

The oilfield service provider, SIMMONS EDECO, has been awarded a contract by Weatherford de Mexico S. de R.L. de C.V.

The last 10 years have shown that smaller oil companies have led the way in shale technology by cutting costs in half with innovations such as horizontal drilling and hydraulic fracking.