News Feed – Exploration & Development

  • Zarubezhneft gets 30% of area off Vietnam
    on May 23, 2019 at 8:16 pm

    Zarubezhneft JSC, Moscow, received a 30% participating interest in the production sharing agreement for Block 09-2/09 in the Cuu Long basin offshore Vietnam under one of several agreements signed during meetings among leaders of the Russian and Vietnamese governments. […]

  • Ironbark permit title transfer to BP group approved
    on May 23, 2019 at 6:37 pm

    The title transfer for the Ironbark offshore gas prospect off Western Australia to the new BP Development Australia Pty Ltd.-led exploration joint venture has been approved, paving the way for the drilling program, said Melbourne-based Cue Energy Ltd.&nbs […]

  • June presentation will outline offshore Cuba licensing
    on May 23, 2019 at 6:04 pm

    Blocks will be offered offshore in Cuba’s economic exclusive zone in the Gulf of Mexico, said state-owned Union Cuba-Petroleo Co. (CUPET), which is helping promote the licensing round with roadshow presentations and data viewing in London in early June. […]

  • Appomattox field comes on stream in GOM
    on May 23, 2019 at 4:59 pm

    Appomattox field in the US Gulf of Mexico started production ahead of schedule in the deepwater Gulf of Mexico about 80 miles offshore Louisiana. Shell Offshore Inc. operates the field in 7,200 ft of water. […]

  • Wintershall Dea installs Nova templates
    on May 22, 2019 at 7:34 pm

    Wintershall Dea has installed the two subsea templates anchoring development of Nova oil field in the Norwegian North Sea. The Subsea 7 Seven Arctic vessel transported the 300-tonne units 45 km from Floro, Norway, to the field and lifted them by crane into 370 m of water. Aker Solutions built the templates at Egersund, Norway. […]

  • BHP considers conventional oil attractive for decades
    on May 22, 2019 at 5:57 pm

    BHP said its conventional oil assets look to be attractive investments “for several decades,” particularly its holdings offshore Mexico and offshore eastern Canada. During an operations update, BHP executives said the company expects to spud an appraisal well on Trion in late December with earliest production expected in the mid 2020s. BHP is the operator with 60% interest. […]

  • Dana Gas spuds Merak-1 wildcat off Egypt
    on May 22, 2019 at 5:51 pm

    Dana Gas PJSC, Sharjah, has spudded a deepwater wildcat on its North El Arish concession area offshore Egypt. The company says the Merak-1 well is on one of three prospects it describes as “world class” in the area, also known as Block 6. […]

  • Vintage farms in to Queensland Cooper basin permit
    on May 22, 2019 at 5:43 pm

    Vintage Energy Ltd., Adelaide, has agreed to farm in to a 50% interest in Sydney-based Metgasco’s Queensland exploration permit ATP 2021 in the Cooper basin. Vintage will earn its share and take over as operator by paying a substantial share of future drilling and development costs as well as reimbursing Metgasco’s costs to date. […]

  • APLNG okay to buy Ironbark CSG project
    on May 22, 2019 at 5:12 pm

    The Origin Energy-operated Australia Pacific LNG group has obtained permission to acquire Origin’s undeveloped Ironbark coal seam gas project in permit ATP 788P in Queensland. The Australian Competition and Consumer Commission said it would not oppose the transaction, first mooted by Origin in February with a sale price of $231 million (Aus.). […]

  • MARKET WATCH: NYMEX oil price hovers at $63/bbl
    on May 22, 2019 at 4:43 pm

    Light, sweet crude oil prices fell slightly May 21 as the contract continues to hover at $63/bbl on the New York market while Brent crude oil prices gained modestly with the July contract settling above $72/bbl. […]

  • Oil from US shale on track to rise 16% in 2019
    on May 21, 2019 at 5:54 pm

    US shale operators are on course to increase oil production markedly in 2019. The growth in US onshore production from the first quarter through the fourth quarter could come in at around 1.1-1.2 million b/d, or 16% for the full year, according to Rystad Energy. […]

  • Eni group awarded block off Argentina
    on May 21, 2019 at 5:46 pm

    Eni SPA has joined the list of international oil and gas companies awarded licenses in Argentina’s recent bid round. The company leads a group that will shoot a 3D geophysical survey across Block MLO 124 and conduct other geophysical surveys. […]

  • Shell Australia approved for Bratwurst-1 wildcat
    on May 21, 2019 at 5:13 pm

    Shell Australia has been granted approval from the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) for the drilling of proposed wildcat Bratwurst-1 in Ashmore Cartier permit AC/P64 in the Browse basin off Western Australia. […]

  • MARKET WATCH: Crude oil prices mixed on geopolitics
    on May 21, 2019 at 4:29 pm

    Oil prices gained modestly on the New York market May 20, settling above $63/bbl while Brent crude oil prices in London fell slightly to settle under $72/bbl. Light, sweet oil prices rose to their highest level in nearly 3 weeks on May 20, which analysts attributed to US-Iran tensions and major crude producers, including Saudi Arabia, suggesting they might keep existing production-cut targets until Dec. 31. […]

  • Gazprom has two offshore Yamal gas finds
    on May 20, 2019 at 7:42 pm

    Gazprom said it has discovered more than 500 billion cu m of natural gas in two fields offshore the Yamal Peninsula in the Russian Arctic. […]

  • Inpex shuffle eyes exploration, projects
    on May 20, 2019 at 7:16 pm

    Inpex Corp., Tokyo, has reorganized “to reinforce oil and gas exploration and mergers and acquisitions capabilities” and to strengthen project execution. […]

  • Bitumen feed delayed for Alberta refinery
    on May 20, 2019 at 6:35 pm

    North West Redwater Partnership (NWRP) has delayed introduction of bitumen feed from Alberta’s oil sands at the first 80,000-b/d phase of its proposed three-phased greenfield bitumen refinery in Sturgeon County, about 45 km northeast of Edmonton, Alta. […]

  • PGNiG drills production well in Pakistan’s Rehman field
    on May 20, 2019 at 5:59 pm

    PGNiG SA has spudded the Rehman-6 production well on the western part of Rehman field in Pakistan to develop tight gas in a Cretaceous sandstone formation. Crews plan to drill to 2,700 m. PGNiG Pres. Piotr Wozniak said the company plans to drill four wells and put three of them on stream, including Rehman-6, during 2019. […]

  • NOPSEMA extends ruling time on GAB exploration
    on May 20, 2019 at 5:45 pm

    Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has told Norwegian company Equinor Australia BV that it needs more time to decide about Equinor’s environmental plan for the proposed exploration drilling program in the South Australian section of the Great Australian Bight (GAB). […]

  • MARKET WATCH: Oil benchmarks drop ahead of OPEC committee meeting
    on May 20, 2019 at 4:37 pm

    Oil prices dropped on both the New York and London markets May 17, ending three sessions of gains. Analysts attributed the price drop to heightened US-Iran tensions and rising concerns about possible disruptions to oil shipments across the Middle East. […]

  • Baker Hughes: US rig count down 1 unit to 987
    on May 17, 2019 at 7:22 pm

    The US drilling rig count was down a single unit to 987 the week ended May 17, according to Baker Hughes data. The count is down 59 units from this time a year ago when the count stood at 1,046. […]

  • US House panel studies E&P impacts on water supplies
    on May 17, 2019 at 7:16 pm

    Members split along party lines on May 16 as a US House Natural Resources Committee subcommittee considered whether US above-ground and underwater supplies are protected adequately from potentially damaging leaks or spills from onshore oil and gas exploration and production. Democrats felt more federal regulation is needed while Republicans said many states are providing enough oversight already. […]

  • Liquids yield driving Montney production growth forecast
    on May 17, 2019 at 7:04 pm

    Total production in Canada’s Montney play will likely reach 10 bcfd of natural gas equivalent this year, an increase of 16% from 2018, and is forecasted to reach 20 bcfed by 2030, driven by rising liquids yield across various sub-plays, according to Wood Mackenzie research. […]

  • ExxonMobil: Permian basin work to benefit New Mexico
    on May 17, 2019 at 6:38 pm

    ExxonMobil Corp.’s development of Permian basin resources in New Mexico will generate $64 billion in net economic benefits for the state and local communities over the next 40 years, according to a study conducted for ExxonMobil by Impact Data Source. […]

  • MARKET WATCH: Oil benchmarks gain for third session
    on May 17, 2019 at 4:51 pm

    Crude oil benchmarks gained on markets in New York and London for a third consecutive trading session May 16 with light, sweet crude marking its biggest single-session gain in 3 weeks as the June contract closed above $62.80/bbl and the July contract closed above $63/bbl. […]

  • Tatneft, Uzbekneftegaz outline PSA
    on May 16, 2019 at 7:54 pm

    Tatneft and Uzbekneftegaz have signed an agreement outlining main terms of a production-sharing agreement for a block designated Pritashkent in Uzbekistan. […]

  • Lukoil claims record for Baltic Sea well
    on May 16, 2019 at 7:20 pm

    Lukoil claimed a Baltic Sea length record for one of two extended-reach wells drilled this year from an onshore cluster pad to develop offshore D41 oil field. […]

  • Two areas off Sable Island draw no bids
    on May 16, 2019 at 6:21 pm

    Exploration rights for two shallow-water areas off Sable Island received no bids in a Canada-Nova Scotia Offshore Petroleum Board round that opened in December and closed on May 8. […]

  • Santos joins P’nyang group in Papua New Guinea
    on May 16, 2019 at 5:53 pm

    Santos Ltd., Adelaide, reported it intends to acquire a 14.3% interest (pre-government back-in) in petroleum retention licence PRL3 in the western highlands of Papua New Guinea. The licence contains P’nyang natural gas field. […]

  • Contract let for offshore Mexico gas production
    on May 16, 2019 at 5:14 pm

    MODEC of Japan has let a contract to MAN Energy Solutions to supply six compressor trains for a floating production, storage, and offloading vessel in the Gulf of Mexico as part of development of the Eni SPA subsidiary’s Eni Mexico S. de RL de CV-operated Area 1 offshore Mexico. […]

  • EPA issues draft study of how onshore wastewater is managed
    on May 15, 2019 at 10:04 pm

    The US Environmental Protection Agency issued a draft study on how the agency, states, Indian tribes, and other stakeholders manage wastewater from onshore oil and gas extraction. The undertaking will leverage expertise from those groups to identify challenges and opportunities surrounding the potential benefits of reusing the wastewater, said David Ross, EPA Office of Water assistant administrator. […]

  • US House bill would curb oil, gas methane emissions
    on May 15, 2019 at 7:16 pm

    US Rep. Diana DeGette (D-Colo.) introduced a bill aimed at limiting methane emissions from oil and gas operations on May 14. “If we’re going to be serious about fixing the climate crisis, we have to be serious about curbing the release of methane into the atmosphere,” she said. […]

  • IEA: Oil market calm despite geopolitical supply concerns
    on May 15, 2019 at 6:30 pm

    In its latest monthly Oil Market Report, the International Energy Agency said the global oil market remains calm despite the ongoing geopolitical supply concerns. The geopolitical supply concerns around Libya, Iran, and Venezuela have been joined in the past few days by the attacks on shipping off Fujairah and on two pumping stations in Saudi Arabia. […]

  • Second-phase Johan Sverdrup work approved
    on May 15, 2019 at 4:51 pm

    Second-phase development of Johan Sverdrup oil field in the Norwegian North Sea has been approved. The Norwegian Ministry of Petroleum and Energy approved Equinor’s plan for development and operation covering a new processing platform, modifications of the first-phase riser platform, five subsea systems, and preparations for power supply from shore to the Utsira High area in 2022. […]

  • Jadestone completes Stag oil field infill well
    on May 14, 2019 at 7:23 pm

    Jadestone Energy Inc., Singapore, has reported the completion of its infill drilling program in Stag oil field in the Carnarvon basin offshore Western Australia. […]

  • Eni group finds more light oil off Angola
    on May 14, 2019 at 7:13 pm

    Eni SPA said the fourth oil discovery in the exploration program it started with partners in mid-2018 on Block 15/06 offshore Angola has production capacity exceeding 10,000 b/d of light oil. […]

  • Blackrock well cuts thin oil sands off UK
    on May 14, 2019 at 7:09 pm

    The Blackrock exploration well 204/5b-2 in the West of Shetlands area proved the existence of intravolcanic charged reservoirs between undeveloped Cambo and Rosebank oil fields, reports Siccar Point Energy, the operator. The Diamond Ocean GreatWhite semisubmisersible rig drilled the well in 1,115 m of water 10 km north of Cambo field. […]

  • Petrobras lets contract for Sepia field project
    on May 14, 2019 at 5:25 pm

    Petroleo Brasileiro SA (Petrobras) has let a contract to McDermott International Inc. for subsea risers and flowlines for the first phase of Sepia field, 174 miles offshore Rio de Janeiro. The first phase is part of a 15-well Sepia field development in the presalt layer of the Santos basin on Block BM-S-24. Start of oil production is expected in 2021. […]

  • Equinor claims Shell’s Caesar Tonga stake
    on May 13, 2019 at 7:36 pm

    Equinor said it will increase its interest in deepwater Caesar Tonga oil field in the Gulf of Mexico to 46% by exercising a preferential right to acquire Shell Offshore Inc.’s 22.45% interest for $965 million. […]

  • WoodMac: Exploration survey shows industry optimistic amid geopolitics
    on May 13, 2019 at 5:14 pm

    Wood Mackenzie said its 11th annual exploration survey shows the oil and gas industry foresees a return to profits enabling exploration of promising prospects. WoodMac surveyed 258 senior energy leaders and exploration professionals worldwide. […]

  • US rig count, down 2 units, stays below 1,000 for third week
    on May 10, 2019 at 7:45 pm

    The US drilling rig count fell 2 units to reach 988 rigs working for the week ended May 10—the third straight week below 1,000, according to Baker Hughes data. The count is down 57 units from the 1,045 rigs working this time a year ago. […]

  • Woodside lets contact for Scarborough development
    on May 10, 2019 at 6:14 pm

    Two subcontracts to support development of the floating production unit on Woodside Petroleum group’s proposed Scarborough gas field development on the Exmouth Plateau off Western Australia have been signed by SNC Lavalin, which will provide front-end engineering design support for the semisubmersible hull and mooring system as well as model testing scoping and supervision and ancillary scopes. […]

  • ExxonMobil unit lets contracts for Liza Unity FPSO off Guyana
    on May 10, 2019 at 4:39 pm

    An affiliate of ExxonMobil Corp. let contracts for the next phase of the Liza project offshore Guyana to SBM Offshore, which will construct, install, lease, and operate for up to 2 years the Liza Unity floating production, storage, and offloading vessel. […]

  • Indonesia opens 2019’s second license round
    on May 10, 2019 at 4:32 pm

    The government of Indonesia has opened the year’s second oil and gas licensing round, in which two of four blocks on offer were part of the earlier round, the Jakarta Post reports. Oil production has occurred on one of the blocks, West Kampar on the border of Riau and North Sumatra provinces. The other blocks, West Ganal and Kutai off East Kalimantan and Bone off South Sulawesi, are exploratory. […]

  • Eni sees more potential in Ghana strike
    on May 9, 2019 at 7:45 pm

    Eni said a natural gas and condensate discovery offshore Ghana has gas and oil potential requiring further drilling. […]

  • Two blocks awarded in Indonesian round
    on May 9, 2019 at 6:56 pm

    Kufpec Regional Ventures (Indonesia) Ltd. and a combine of Sonoro Energy Ltd. and PT Menara Global Energy won production-sharing contracts for two of five blocks offered in a licensing round opened by the government early this year, the Jakarta Post reported. […]

  • Santos awards Barossa subsea contract to Technip
    on May 9, 2019 at 4:47 pm

    A ConocoPhillips-led joint venture has let a contract to Technip Oceania Pty. Ltd. to supply the subsea production system for the Barossa gas development project in the Timor Sea north of Darwin. […]

  • Firetail Energy farms in to onshore Bonaparte permit
    on May 9, 2019 at 4:34 pm

    Vintage Energy signed a binding heads of agreement with Firetail Energy Services for Firetail to become a joint venture partner in Vintage’s EP126 exploration permit in the onshore Bonaparte basin, Northern Territory. […]

  • Baker Institute studies possible shale-development ban in Mexico
    on May 9, 2019 at 3:48 pm

    Rice University’s Baker Institute researchers say limited water access and a lack of infrastructure are likely to stall shale gas development in Mexico regardless of whether Mexican President Andres Manuel Lopez Obrador implements his campaign promise to ban hydraulic fracturing. […]

  • Karoon Gas completes Peruvian farmout to Tullow Oil
    on May 8, 2019 at 6:00 pm

    Karoon Gas Australia Ltd., Melbourne, has completed its farmout of a 35% participating interest in its offshore Block Z-38 Tumbes basin permit to Tullow Oil PLC. Tullow has acquired the interest in return for funding 43.75% of the cost of the first exploration well, capped at $27.5 million, beyond which Tullow will pay its 35% share of the total well cost. […]

  • EIA revises upwards its oil price forecasts for 2019-20
    on May 8, 2019 at 5:30 pm

    In its latest monthly Short-Term Energy Outlook, the US Energy Information Administration forecasts Brent spot prices will average $70/bbl in 2019 and $67/bbl in 2020, both about $5/bbl higher than in last month’s STEO. This compares with an average of $71/bbl in 2018. EIA’s higher Brent crude oil price forecast reflects tighter expected global oil market balances in mid-2019 and increasing supply disruption risks globally. […]

  • MARKET WATCH: Crude oil prices fall on geopolitical uncertainties
    on May 8, 2019 at 4:57 pm

    Light, sweet crude oil fell to settle below $62/bbl on the New York market May 7 while Brent crude oil fell by more than $1 to settle below $70/bbl in London after US officials suggested China was reneging on its commitment to a US-China trade agreement. […]

  • FAR lets contract for 3D seismic survey offshore Senegal
    on May 7, 2019 at 7:29 pm

    Shearwater GeoServices was let a contract to conduct a 3D seismic survey over SNE oil field offshore Senegal. The high-definition work is expected to improve reservoir definition in support of optimizing development well locations on the field. SNE joint venture partner, FAR Ltd., said the survey is schedule to begin in June as part of SNE field’s development process. […]

  • Baker Hughes: International rig count climbs 23 units in April
    on May 7, 2019 at 7:12 pm

    The international rig count for April reached 1,062, up 23 units from 1,039 in March and up 84 units from 978 in April 2018, according to Baker Hughes data. The international offshore rig count for April was 251, up 4 units from 247 in March and up 57 units from 194 in April 2018. […]

  • OTC: Murphy group eyes appraisal of strike off Mexico
    on May 7, 2019 at 6:16 pm

    Murphy Oil Corp. and partners are considering the drilling of an appraisal well of their Cholula discovery in deep water offshore Mexico as well as two exploration wells on the same Salina basin block next year. […]

  • OTC: Keynotes address technology, carbon dioxide steps
    on May 7, 2019 at 6:10 pm

    Future advances in technology will help offshore oil and gas development compete with US shale plays, said one of two oil-company keynote speakers May 6 at the Offshore Technology Conference in Houston. […]

  • BP lets contract for second phase of Thunder Horse expansion project
    on May 7, 2019 at 5:01 pm

    BP PLC has let an integrated engineering, procurement, construction, and installation contract to TechnipFMC for the Thunder Horse South expansion Phase 2 project in the deepwater Gulf of Mexico. The contract, valued by TechnipFMC at $75-250 million, is the second contract let to TechnipFMC by BP following Atlantic Phase 3 in this year’s first quarter. […]

  • OTC: Industry learning from MODU reactivation
    on May 7, 2019 at 4:49 pm

    Lessons are being learned as industry reactivates mobile offshore drilling units that were cold or warm-stacked during the oil-price slump that started in late 2014, representatives from Northern Offshore and Borr Drilling told an Offshore Technology Conference breakfast audience May 6 in Houston. […]

  • BP sanctions second phase of Thunder Horse expansion project
    on May 6, 2019 at 7:18 pm

    BP PLC has sanctioned development of Phase 2 of the Thunder Horse South expansion project in the deepwater Gulf of Mexico. The project—which at peak is expected to add 50,000 boe/d gross of production from the existing Thunder Horse platform—is due for startup in 2021. […]

  • NPC submits supplemental assessment of Arctic oil, gas potential
    on May 6, 2019 at 6:29 pm

    The National Petroleum Council approved and submitted a supplemental assessment to its 2015 US Arctic Oil and Gas Potential Resources Report to Energy Sec. Rick Perry on May 2. It contains recommendations addressing enhanced safety and environmental stewardship, regulatory effectiveness and certainty, drilling season length, lease term competitiveness, and enabling infrastructure, the council noted. […]

  • MARKET WATCH: NYMEX oil prices hovering around $62/bbl
    on May 6, 2019 at 4:50 pm

    Light, sweet crude oil for June delivery gained 13¢ to settle at $61.94/bbl on the New York market May 3 while the July contract added 14¢ to settle at $62.04/bbl. Despite the slight rise for the trading session, US oil futures prices fell for the week for a second consecutive week. […]

  • ExxonMobil finances Liza Phase 2 development offshore Guyana
    on May 3, 2019 at 10:55 pm

    ExxonMobil Corp. has financed the Liza Phase 2 development offshore Guyana after receiving government and regulatory approvals. Liza Phase 2 will produce as much as 220,000 b/d, and ExxonMobil forecasts the Stabroek block will produce more than 750,000 b/d by 2025. […]

  • Baker Hughes: US rig count remains below 1,000 units
    on May 3, 2019 at 7:29 pm

    The US drilling rig count fell 1 unit, remaining below 1,000, reaching 990 rigs working for the week ended May 3, according to Baker Hughes data. The count is down 42 units from the 1,032 rigs working this time a year ago. […]

  • Eni in agreement to explore off Bahrain
    on May 3, 2019 at 5:48 pm

    Eni SPA has entered an exploration and production-sharing agreement with the National Oil and Gas Authority for Block 1 offshore Bahrain. The company had signed a memorandum of understanding envisioning the agreement in January. […]

  • Oil Search completes Muruk-2 appraisal well in PNG highlands
    on May 3, 2019 at 5:36 pm

    Oil Search Ltd., Port Moresby, has plugged its Muruk-2 appraisal well in petroleum development licence 9 (PDL9) in the Southern Highlands of Papua New Guinea following an extended test program. […]

  • MARKET WATCH: NYMEX oil prices fall on rising crude supplies
    on May 3, 2019 at 4:50 pm

    Light, sweet crude oil for June delivery dropped by nearly $1.80 to $61.81/bbl on the New York market May 2 while the Brent contract for July dropped by more than $1.40 to settle at $70.75/bbl in London. Crude on the New York market fell to the lowest settlement price since Apr. 1, having declined five times in seven trading sessions. […]

  • BSEE issues revised blowout preventer, new well control system rules
    on May 2, 2019 at 11:22 pm

    The US Bureau of Safety and Environmental Enforcement issued revised offshore blowout preventer (BOP) and well control regulations on May 2. The changes remove unnecessary regulatory burdens while maintaining safety and environmental protections, US Department of the Interior officials said. […]

  • Orphan-well load cited in firm’s failure
    on May 2, 2019 at 9:48 pm

    A small Calgary natural gas producer is ceasing operation, saying a January decision by the Canadian Supreme Court on responsibility for orphan wells aggravated its financial problems. […]

  • PSAC again trims Canadian drilling outlook
    on May 2, 2019 at 6:56 pm

    The outlook for oil and gas drilling in Canada continues to darken. The Petroleum Services Association of Canada again has lowered its forecast for 2019 drilling—to 5,300 wells drilled from 6,600 in the original forecast published last November. […]

  • Qatar Petroleum lets rig contracts for North field expansion project
    on May 2, 2019 at 5:47 pm

    Qatar Petroleum has let contracts for eight offshore jack up drilling rigs expected to be mobilized and ready for its North Field expansion project starting in January 2020. […]

  • Equinor to decommission Statfjord A platform
    on May 2, 2019 at 5:22 pm

    Equinor announced May 2 plans to shut production at the Statfjord A platform in the North Sea, one of the oldest platforms on the Norwegian continental shelf. Statfjord A went on stream in 1979 and had been scheduled for shutdown in 1999, but it has since received numerous upgrades. […]

  • Report: Pipeline constraints to moderate Canadian oil sands production growth
    on May 2, 2019 at 5:14 pm

    The cost of building and operating oil sands projects has fallen in recent years and total oil production is expected to rise by another 1 million b/d by 2030, but external factors—such as price uncertainty caused by pipeline constraints—are contributing to a more moderate pace of production growth than in years past, according to IHS Markit. […]

  • MARKET WATCH: Benchmark crude prices hold steady on uncertain world oil supply
    on May 2, 2019 at 4:42 pm

    Light, sweet crude oil for June delivery fell modestly to settle at $63.60/bbl on the New York market May 1 while the Brent contract for June held unchanged at just above $72/bbl in London. Traders and analysts are watching world oil supply levels now that the US is ending sanctions waivers to some countries that had bought Iranian oil. […]

  • Eni Mexico lets EPC contract for Amoca field off Mexico
    on May 1, 2019 at 6:42 pm

    Eni Mexico has let a contract to McDermott International Inc. for engineering, procurement, and construction of wellhead platform 1 (WHP1) to be installed in Amoca field, 30 km offshore Dos Bocas in southeast Mexico. […]

  • New Zealand makes delayed onshore petroleum permit offer
    on May 1, 2019 at 6:32 pm

    The New Zealand government’s New Zealand Petroleum and Minerals section has finally launched its delayed “Block Offer 2018” tender for petroleum exploration permits. About 2,200 sq km of land in the onshore Taranaki basin of the country’s North Island is being offered for oil and gas exploration. […]

  • Abu Dhabi launches second bid round
    on May 1, 2019 at 5:41 pm

    Abu Dhabi is offering exploration licenses for five blocks in its second international round of oil and gas bidding. The two offshore and three onshore blocks cover a combined 34,000 sq km. In the first bid round, which closed in March, Abu Dhabi National Oil Co. awarded concessions to two offshore and three onshore blocks covering a total of 30,000 sq km. […]

  • MARKET WATCH: NYMEX crude price approaches $64/bbl
    on May 1, 2019 at 5:08 pm

    Light, sweet crude oil for June delivery gained modestly to approach $64/bbl on the New York market Apr. 30 while the Brent contract for June held unchanged at just above $72/bbl in London. […]

  • Strat test probes gas hydrates in Alaska
    on April 30, 2019 at 7:49 pm

    A stratigraphic test operated by BP Exploration (Alaska) Inc. at Prudhoe Bay has confirmed two gas hydrate reservoirs for further testing in a three-well joint program of the US Geological Survey, US Department of Energy’s National Energy Technology Laboratory, and Japan Oil, Gas, and Metals National Corp. […]

  • Saudi Arabia’s TAQA Drilling to acquire Schlumberger’s Middle East drilling rigs
    on April 29, 2019 at 5:18 pm

    Saudi Arabia’s Industrialization and Energy Service Co. said its drilling unit, Arabian Drilling Co., agreed to acquire Schlumberger Ltd.’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq, and Pakistan for $415 million. […]

  • Leon drilling due under LLOG-Repsol swap
    on April 29, 2019 at 5:09 pm

    LLOG Exploration Offshore LLC will participate in the drilling of a well to delineate Repsol E&P USA Inc.’s 2014 Leon oil discovery in the Lower Tertiary play of the deepwater Gulf of Mexico. […]

  • Cadogan plans production from Ukraine well
    on April 25, 2019 at 6:20 pm

    Cadogan Petroleum PLC, London, plans to place on pump its Blazh-10 well in Ukraine near the Polish border. […]

  • Cenovus: Alberta’s production cut working
    on April 25, 2019 at 6:18 pm

    Production curtailment in Alberta has achieved the provincial government’s goals, according to Cenovus Energy Inc., Calgary. […]

  • ExxonMobil acquires more acreage offshore Namibia
    on April 25, 2019 at 5:00 pm

    ExxonMobil Corp. announced it acquired 7 million net acres to expand its exploration acreage offshore Namibia through an agreement with the government of Namibia and the National Petroleum Corp. (NAMCOR). […]

  • PetroNeft eyes Russian field development
    on April 24, 2019 at 8:16 pm

    PetroNeft Resources PLC, Dublin, said state approval of reserves estimates for Cheremshanskoye oil field in West Siberia allows it to evaluate development options. […]

  • PetroChina to operate Beibu Gulf search
    on April 24, 2019 at 4:58 pm

    PetroChina Co. Ltd. will operate the exploration of two blocks in China’s Beibu Gulf under a contract with CNOOC China Ltd. […]

  • Shell, partners announce Blacktip oil discovery in deepwater Gulf of Mexico
    on April 24, 2019 at 4:55 pm

    Shell Offshore Inc. announced an oil discovery at the Blacktip prospect in the deepwater US Gulf of Mexico offshore Texas.&nbs […]

  • Apache temporarily defers Alpine High natural gas production in Permian basin
    on April 24, 2019 at 4:47 pm

    Apache Corp. announced a temporary deferral of Alpine High natural gas production in the Permian basin, citing what it calls “extremely low prices” at the Waha hub in West Texas. The deferrals account for 250 MMcfd of gross gas production. […]

  • CNOOC lets North Sea platform contract extension to KCA Deutag
    on April 24, 2019 at 4:44 pm

    CNOOC Petroleum Europe Ltd. has let a contract extension to KCA Deutag for the Scott platform in the UK North Sea. […]

  • Chevron lets contract for Alba Northern, Captain platforms in North Sea
    on April 23, 2019 at 6:30 pm

    Chevron North Sea Ltd. has let a contract to Archer (UK) Ltd. for platform drilling services in the UK sector of the North Sea. […]

  • Hurricane spuds Warwick Deep well off UK
    on April 19, 2019 at 7:39 pm

    Hurricane Energy PLC has spudded the 205/26b-C well (Warwick Deep) in the Greater Warwick Area (GWA) west of the UK Shetland Islands. […]

  • Eni to operate block off Ras Al Khaimah
    on April 19, 2019 at 7:01 pm

    Eni has signed an exploration and production sharing agreement for Block A offshore Ras Al Khaimah. […]

  • JAPEX spuds wildcat off Hokkaido, Japan
    on April 19, 2019 at 6:33 pm

    Japan Exploration Co. Ltd. has spudded an exploratory well 50 km offshore the Hidaka area of Hokkaido, Japan. […]

  • ACG partners approve $6-billion platform
    on April 19, 2019 at 4:05 pm

    Partners in the Azeri-Chirag-Deepwater Gunashli (ACG) complex in the Caspian Sea offshore Azerbaijan have approved the investment of $6-billion in a new platform able to process as much as 100,000 b/d of oil. […]

  • ExxonMobil reports 13th discovery offshore Guyana
    on April 18, 2019 at 10:29 pm

    ExxonMobil Corp. reported a new oil discovery offshore Guyana with the Yellowtail-1 well in Stabroek block, bringing the total discoveries on that block to 13 and adding to an estimated recoverable resource of 5.5 billion boe. […]

  • Surge Energy drills 3.4-mile lateral in Permian basin
    on April 18, 2019 at 9:45 pm

    Surge Energy US Holdings Co. subsidiary Moss Creek Resources Holdings Inc. reported drilling the Medusa Unit C 28-09 3AH to 24,592 ft TMD (7,102 ft TVD). […]

  • Gazpromneft targets West Siberian Achimov
    on April 18, 2019 at 4:28 pm

    Gazpromneft-Zapolyarye has completed agreements allowing it to start developing Cretaceous Achimov strata in Yamburgskoye oil and gas condensate field and oil-rim deposits in parent Gazprom’s Pestsovoye and En-Yakhinskoye gas fields in the Yamal-Nenets Autonomous Okrug of Russia. […]

  • Santos confirms gas in Corvus field off Western Australia
    on April 17, 2019 at 7:58 pm

    Corvus field appraisal drilling confirmed more gas resources offshore Western Australia. Drillers reported a 2,093-ft gross interval, one of the largest columns to be discovered on the North West Shelf, said Santos Ltd. of Adelaide. […]

  • Majors scoop up acreage in offshore Argentina bid round
    on April 17, 2019 at 7:51 pm

    Units of ExxonMobil Corp., Equinor, and Wintershall were among the companies that submitted winning bids in Argentina’s Apr. 16 licensing round—the first open bid round for Argentinean offshore acreage in more than 20 years—where 38 blocks were on offer, 18 of which were licensed. […]

  • BHP Petroleum plans more appraisal drilling off Mexico
    on April 17, 2019 at 6:06 pm

    BHP Petroleum plans additional appraisal drilling on Trion block offshore Mexico during this year’s second half, the company said in an operational update. Previously, BHP sold its US shale operations to focus on conventional oil and gas in the US Gulf of Mexico and Australia. […]

  • DOE announces up to $39 million in oil, gas R&D project grants
    on April 17, 2019 at 5:51 pm

    The US Department of Energy announced up to $39 million in federal funding for cost-shared research and development projects that aim to improve oil and natural gas technologies. Selected projects will fall under two DOE Office of Fossil Energy funding opportunity announcements, DOE said on Apr. 16. […]

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