← Go back to All Blogs
Block also increased oil production to 151,184 bbls and gas production to 283 MMcf, resulting in an average daily production rate of 543 boed. Additionally, the company raised $2 million via a secured loan to undertake drilling operations on Project I and completed the Project IV farm-out, achieving a carried work program valued at over $3 million (gross). View the full article
Since the start of the year, the rebels have regrouped and ratcheted up attacks, raising questions about security as TotalEnergies weighs restarting its project. ExxonMobil Corp. plans an even bigger LNG export facility adjacent to TotalEnergies’, but it’s also on hold. View the full article
Repsol recently signed a deal with state-owned Petroleos de Venezuela SA that adds jointly managed fields to its operations. In the next few months, the assets are expected to produce 20,000 bpd, doubling what the European major currently produces in one of its three ventures, Chief Executive Officer Josu Jon Imaz said in a call with investors in April. View the full article
The second day of the Energy NL Annual Conference & Exhibition 2024 got underway today with a morning address by the Honourable Seamus O’Regan Jr., Minister of Labour and Seniors, who outlined the Government of Canada’s efforts to support energy development, including amendments to the Atlantic Accord. View the full article
The acquisition of the shares from Sonangol EP brings SBM Offshore’s ownership in the entities owning the FPSOs Saxi Batuque and Mondo to 100% and in the entity owning the FPSO N’Goma to 80%. The operating companies in Angola will be wholly owned by SBM Offshore after the acquisition. View the full article
Following recent reports that the Biden Administration’s federal moratorium on new liquified natural gas (LNG) export plants is prohibiting Ukraine from purchasing American LNG, Railroad Commissioner Wayne Christian slammed the administration’s policy and called on the president to rescind the ban. View the full article
The message, sent in a letter Wednesday to Energy Secretary Jennifer Granholm, comes as Biden administration officials have hinted they may be willing to release oil from the Strategic Petroleum Reserve to tamp down gasoline prices amid forecasts for a spike this summer. View the full article
MODEC, Inc. plans to open a new office in Kuala Lumpur, Malaysia, with more than 200 new positions in engineering and other corporate support functions to fill by early 2025. View the full article
Evaluation of logging data, sample examination and formation pressure measurements confirm approximately 24 m of pay in an overall hydrocarbon column of 37 me. Notably, the hydrocarbon column extends across the boundary between the Gamba and the underlying Dentale formation. View the full article
The Energy NL Annual Conference & Exhibition 2024 began on Tuesday, June 4, 2024, with an opening address by Premier Dr. Andrew Furey, who committed his support for the Newfoundland and Labrador energy industry, including the offshore oil and gas sector and the renewable energy sector. View the full article
The Helideck Operations Initial Training (Americas) and Helideck Operations Emergency Response and Aviation Fuel Management Awareness standards were designed and updated specifically to reflect legislation and operational differences in the region and are now being rolled out after a successful pilot. View the full article
Situated close to producing Block B, which houses the Zafiro field, the blocks are considered to be highly-prospective and are poised to play a major part in revitalizing exploration and production offshore Equatorial Guinea. View the full article
This deal involves the Clipper and Leman Alpha offshore field clusters and represents the latest move by major oil and gas companies to exit the aging North Sea basin in favor of more lucrative ventures. View the full article
President Javier Milei, who’s just months into a four-year term, pledges to go where no Argentine leader has successfully ventured for three decades by deregulating the country’s tightly controlled economy. But his signature legislation, which would stamp his libertarian vision on the economy — including free oil markets — still needs to win approval in congress. View the full article
Transocean Ltd. announced a 365-day contract extension for the Deepwater Asgard with an independent operator offshore the U.S. in the Gulf of Mexico. The program is expected to commence in direct continuation of the rig’s current program and is estimated to contribute approximately $188 million in backlog, including additional services.
View the full article
While Arjuna Capital had already withdrawn the shareholder proposal to accelerate greenhouse-gas emissions cuts that was at issue in the lawsuit, the firm went further in a letter that was sent to Exxon and filed with a Texas court, saying it “unconditionally and irrevocably” promised not to submit any more proposals related to emissions or climate change to Exxon shareholders. View the full article
Spending on oil and gas extraction and pipeline transport will jump by 15% in 2024, compared with the 215 billion kroner spent a year earlier, Statistics Norway said on Tuesday. Spending in 2025 is forecast to be 216 billion kroner, the agency said. View the full article
The new pump technology will support and enable the gas stream, rich in CO2, to be separated and pumped immediately back into the reservoir at the seabed, 2000 m below the water line, allowing FPSOs to improve their efficiency and reduce their carbon footprint, further enhancing production. View the full article
The Hess Corp. chief executive officer is telling investors he got the best deal possible, and that Chevron could walk away if the merger doesn’t get voted through at a May 28 shareholder meeting, according to the people, who asked not to be identified because the discussions are private. View the full article
TotalEnergies, together with the operator Petrobras and their partners in the Atapu and Sépia consortiums, have taken the Final Investment Decision (FID) for the second development phase of Atapu and Sépia fields, located in the prolific pre-salt Santos Basin, offshore Brazil. View the full article
Guyana has been urging the Exxon-led consortium to develop its offshore natural gas reserves. Exxon plans to complete an appraisal of the natural gas findings by early next year and explore commercialization options. View the full article
The move expands ConocoPhillips’ footprint in domestic shale fields from Texas to North Dakota and hands the company reserves as far afield as Equatorial Guinea. It adds to a wave of recent megadeals as producers seek new drilling sites on a bet that oil and gas demand will remain robust for years to come. View the full article
Weatherford will offer its Accuview downhole monitoring solutions with the AlphaVTM next-generation whipstock system. Notably, in 2023, Weatherford successfully introduced AlphaVTM, enabled by the Accuview platform in the North Sea for Equinor. View the full article
Buzzard reached peak production of 80,000 boed after its phase II started production in 2022. Today it’s closer to half that level of output. The field was shut from April 27 for 12 days of planned maintenance. There is another planned turnaround in late August for about 14 days. View the full article
The block has significant 2D and 3D seismic data already completed and no additional seismic acquisition or drilling of wells is planned in the three-year carried period. During this period, Eco will complete the interpretation and analysis required for its planned Work Program with its in-house exploration team. View the full article
![](http://s3.amazonaws.com/community.oilprice.com/monthly_2021_01/d.gif.6b0cbf4062bbff049656ea4a878824d6.gif)
-
entries
2,547 -
comments
128 -
views
364,186
About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.