Harbour Energy and Talos Energy Reportedly in M&A Conversations
The UK's largest oil and gas producer Harbour Energy is reportedly in discussions over a potential merger with Talos Energy, the Gulf of Mexico-focused oil and gas company.
The two companies are joint venture partners in the proposed Zama offshore oil development in Mexico and, in Harbour's case especially, have ambitions to grow including via mergers and acquisitions.
The Reuters news agency quoted its own sources as saying that talks have been on and off between the two sides for at least six months, but negotiations had rekindled in recent weeks.
Reuters' sources cautioned there was no guarantee that a deal would be reached.
Harbour’s management — led by chief executive Linda Cook — has been scathing about the impacts of the UK’s Energy Profits Levy, and has said the company is open to acquisition opportunities that would add a second core region to the business.
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More Energy Companies Address Toxic Workplaces
Surviving toxic work environments is a common theme among many individuals I support in my coaching and mentorship practices.
Let me be clear: I never believe someone should have to survive a toxic work environment. The onus should not be on the individual to adapt to a problematic workplace. Too often, this survival is set as an implicit goal simply because we tackle the challenges put in front of us.
Let’s start by understanding what constitutes a toxic work environment. It’s one with a culture that does not prioritize respect as a value and does not recognize each individual’s humanity. It’s a workplace that leverages shame or guilt and disregards boundaries. Symptoms that could indicate a toxic workplace include anxiety, recurring nightmares, questioning your reality, and feeling like you can’t trust anyone.
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China Begins Drilling a 11,100-Meter Exploration Borehole
China has started digging an 11,100-meter borehole in its oil-rich Xinjiang region in Beijing’s latest effort to unearth rich mineral and energy resources.
The landmark project began last week in the Tarim Basin in the hinterland of the Taklimakan Desert, the largest and driest desert entirely within China, state media reported.
An 82-meter-high tailor-made automatic drilling rig, which weighs more than 2,000 metric tons, will penetrate over 10 layers of continental strata, and reach the Cretaceous system — stratified rocks formed between 66 million to 145 million years ago.
However, experts explained that the conditions in the Tarim Basin both above and underground make digging such a deep hole into the Earth difficult due to its depth and complex geological structure that come from its long period of crustal evolution.
Two Texans Author an Oil “Safe Haven” Bill
Texas could soon have a new law that aims to make the state a sort of safe haven for the oil and gas industry by shielding it from federal climate and environmental regulation. But experts say the measure—which would do little to change environmental enforcement in Texas—would be more symbolic than anything.
Texas Republicans in both chambers have supported House Bill 33, authored by state Rep. Brooks Landgraf, R-Odessa, as a way to ward off federal climate rules under President Joe Biden, who pledged that the US would cut its greenhouse-gas emissions in half by 2030, among other goals to slow climate change. The president’s climate agenda has been viewed by many Texas Republicans as disastrous for the nation’s biggest oil and gas state.
“I view this administration as hostile to Texas,” said Sen. Brian Birdwell, R-Granbury. “I don’t think anybody has any doubt about that.”
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Pipeline Inspections, Harbour and Talos in Talks, Drone Inspections and an Oil Safe Haven