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BW Energy’s preliminary evaluation indicates an increase in Hibiscus gross recoverable reserves (mid-case) of approximately 8 MMbbl of oil to 12 MMbbl of oil. The company plans to complete the well as a development well later in 2024. View the full article
Heirloom Carbon is banking on the region’s many oil workers contributing to its facility's buildout and operation thanks to their transferable skills with machinery and the wells needed to store carbon safely underground. View the full article
Baker Hughes’ integrated approach will deploy wireline, coiled tubing, cementing, tubular running, wellbore intervention, fishing, and geosciences services in all of Petrobras’ offshore fields. The agreement also includes Baker Hughes remedial tools, completion fluids and production chemicals. View the full article
Wood will provide front-end engineering design (FEED), detailed design, procurement support, and construction and commissioning assistance for the first phase of the Associated Gas Upstream Project, part of the Gas Growth Integrated Project (GGIP) in Southern Iraq. View the full article
Located within an emerging basin, 60 km offshore Principe, Block STP02 covers an area of 4,969 km2. Block STP02 is adjacent to the Block STP01 license operated by TotalEnergies (55%) alongside Sonangol (30%) and ANP-STP (15%). View the full article
TotalEnergies plans to relinquish the license for Block 11B/12B because it doubts whether the complex deepwater finds can be made commercially viable, given South Africa’s small gas market. The company will concentrate instead on exploring the Orange basin, located further north on the Atlantic coast of South Africa near promising offshore oil discoveries in Namibian waters. View the full article
The sales would be part of a broader strategy of disposing of €8 billion in assets over the next three years. Units that could be candidates for the asset sale plan include some operations in Indonesia and Cyprus, said the people, asking not to be named discussing confidential deliberations. View the full article
The well remains on schedule to begin drilling this month and is targeting 163 MMbbl of unrisked prospective oil resources or 843 Bcf of unrisked prospective natural gas resources, net to ReconAfrica. View the full article
Three development wells are planned to be drilled, completed and put on production over the next months. Production is then planned to be evacuated via a 24-inch subsea multiphase line to the existing Vega Pléyade platform 35 km from Fénix, and from there to the Rio Cullen facilities at shore. View the full article
‘Logging While Drilling’ (LWD) and wireline logging data have indicated that several oil-and-gas-bearing sandstones have been encountered within the targeted Middle Miocene turbidite sequences. View the full article
Matador expects to have over 190,000 net acres in the Delaware basin, part of the greater Permian basin, producing over 180,000 boed, with proved reserves exceeding 580 MMboe. The enterprise value of the combined company is projected to exceed $10 billion. View the full article
The acquisition will consolidate more assets in the hands of what is already the world’s biggest LNG player, at a time when demand for LNG expands faster than other fossil fuels. Major energy producers, including Shell and Chevron Corp., assert that natural gas will play a long-term role in the energy transition. View the full article
Improvements in drilling and fracking techniques amid a wave of corporate takeovers will drive the expansion and more than offset recent reductions in rig deployments, analysts at the the London-based bank wrote in a note titled ‘Underestimate U.S. shale at your peril.’ View the full article
Pytheas Energy, Inc announced the addition of three producing oil and gas properties to its growing portfolio: the Andrews Crane asset, the Bakken asset, and the Minerva-Rockdale asset. These represent both working and non-working interests in 620 oil and gas wells, with a combined gross current production of approximately 357 bpd. View the full article
The London-based major now aims to reduce its net carbon intensity by 15% to 20% by 2030, compared with a previous target of 20%. View the full article
The U.S. LNG developer has reviewed various equity investment offerings from the energy companies related to its proposed Driftwood plant, said the people, who asked not to be named as they’re not authorized to speak to the media. View the full article
The companies will integrate advanced digital capabilities, including artificial intelligence (AI), with new and existing applications on SLB’s extensible Delfi digital platform, adhering to the Open Group’s OSDU Technical Standard. View the full article
World oil consumption will see a year-on-year increase of 2.3 MMbpd in the second half, about 150,000 bpd more than during the first, amid continued economic growth in China and other emerging economies, OPEC said in a monthly report. View the full article
The contracts relate to phase two development of the vast Jafurah unconventional gas field, phase three expansion of Aramco’s Master Gas System, new gas rigs and ongoing capacity maintenance. View the full article
Eni has embarked on a reorganization to help fund its transition to gas and renewable energy. Chief Executive Officer Claudio Descalzi is pursuing a “satellite model,” which entails listing divisions or partnering with external investors to develop them. View the full article
Summit Carbon Solutions has received the green light from Iowa regulators to construct the Midwest Carbon Express, a 688-mile pipeline spanning 29 counties. View the full article
API supports technology-neutral policies at the federal level that drive greenhouse gas (GHG) emissions reductions in the transportation sector, taking a holistic “all-of-the-above” approach to fuels, vehicles, and infrastructure systems. Unfortunately, NHTSA’s final CAFE rule misses the mark. View the full article
ADNOC made the final investment decision to build the LNG plant in the industrial city of Ruwais, according to a statement. The project will add 9.6 million tons of annual gas export capacity and more than double ADNOC's production capability. View the full article
The Atlantis field was discovered in 2020. Its total recoverable reserves are estimated at 65 Mmboe, with upside potential. This puts Atlantis among the largest offshore discoveries made on the Norwegian Continental Shelf in the last decade. View the full article
Geophysical exploration indicated there’s a “high possibility” the discovery offshore the port city of Pohang holds as much as 14 Bbbl of oil and gas, Yoon said. The estimated volume could be worth more than four years of oil consumption and as much as 29 years of gas demand for the country, he added. View the full article
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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.
