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Wintershall Dea has signed an agreement with PTT Exploration and Production Public Company Limited (PTTEP) on the sale of its 10% participating interest in Abu Dhabi’s Ghasha concession. All the conditions required for closing, including regulatory approvals, have been fulfilled. View the full article
To date, Apex has drilled 10 wells. Six of the 10 drilled wells are currently producing, one has been completed as a water supply well for a water injection project, two are discoveries waiting on completions, and one was a dry hole. 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
The properties up for sale produce over 22,000 boed, with oil making up about 60% of this production. The drilling locations include properties on the Northwest Shelf, the Northern Shelf, and the Central Basin Platform in New Mexico and Texas. View the full article
Block 5 is located offshore Suriname in shallow water depths of about 30-45 m. The license is currently proceeding to its second exploration phase with a commitment to drill an exploration well. View the full article
Polaris and Atlas will build on the success of the Quest carbon capture and storage (CCS) facility at Scotford, which has safely captured and stored more than nine million tonnes of CO₂ since 2015 that would otherwise have been released into the atmosphere. View the full article
The first three of the seven Nong Yao C development wells were opened up for oil production on Aug. 15, 2024, with additional wells to be brought online successively thereafter. Valeura intends to sustain Nong Yao production rates at approximately 11,000 bpd for the remainder of the year 2024. View the full article
These platforms will enable SLB to achieve comprehensive security across its network, cloud and edge platforms, enabling thousands of domain and AI users on SLB’s Delfi digital platform to collaborate in a safe and secure environment. View the full article
To support production growth, Angola has introduced a fresh slate of blocks spanning marginal fields, onshore and offshore opportunities. In a first for the country, five marginal fields are on offer in Block 4, Block 14, Block 15 and Block 18 – all of which are operational. View the full article
The powerful SaaS solution includes AI-enabled asset monitoring and a scheduling and optimization engine that enables increased resource utilization and service uptime of assets in electrical substations. View the full article
The agreement’s scope is to deliver human resources solutions for Repsol’s multi-disciplinary resourcing needs in areas such as drilling and wells, geology and subsurface, HSE, logistics, operations, maintenance, decommissioning, administrative support and cost control. 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
On Monday, Exchequer Secretary to the Treasury, James Murray MP, co-hosted a Fiscal Forum at Offshore Energies UK’s Aberdeen offices with senior industry leaders. The impact of changes to further extend and raise the Energy Profits Levy (EPL), or windfall tax, and the potential removal of critical capital allowances for the sector were central to discussions.
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OPEC produced an average of 26.98 MMbpd in June, or 80,000 bpd less than during the previous month, according to a Bloomberg survey. Small reductions in Iraq and Nigeria drove the decline. View the full article
The lawsuit filed Friday takes aim at an Interior Department rule that explicitly bars oil leasing on 10.6 million acres (4.3 million hectares) of the 23-million-acre reserve, while restricting future oil development in 13 million acres designated as “special areas.” 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
The Nigerien nationals, who worked for the local affiliate of China National Petroleum Corp., were at Benin’s Sèmè Kpodji port to control the loading of crude for export, the ruling junta known as Council for the Safeguarding of the Homeland, said in a statement late Saturday. View the full article
The judge issued his order Monday hours after holding a hearing in the closely watched case over Exxon’s novel move to use the courts to keep ESG investor bids out of annual meetings. The suit was part of a broader corporate pushback to the power wielded by the U.S. Securities and Exchange Commission in the vetting of shareholder proposals. View the full article
EOG Resources Inc., one of the largest independent shale producers, Coterra Energy Inc. and Civitas Resources Inc. increased their 2024 production forecasts Thursday, with the latter saying it is seeing stronger-than-expected well performance in the Permian basin, North America’s busiest oil and gas field, where five producers over the past week reported results that surprised to the upside. Ovintiv Inc. and Matador Resources Co. made similar recent production announcements. View the full articl
The companies agreed other contractors could finish work on Golden Pass last month, paving the way for a restart after several setbacks this year. The new schedule means the 18 million-metric-ton-a-year facility, one of the country’s biggest, will begin operations about six months later than the previous plan, Exxon Chief Financial Officer Kathy Mikells said during an interview. View the full article
The contract scope includes engineering, procurement, fabrication, installation, and pre-commissioning of 102 km of rigid risers and flowlines for the steel lazy wave production system. View the full article
The decisions made in Washington — “the capital of the energy world” — will have “massive impacts” and influence spending around the globe, Sawan said. View the full article
The addition will mean Vista has two fracking crews and related equipment in operation. The company is aiming to raise production 55% to the equivalent of 85,000 bpd by the fourth quarter, and start production on 138 new oil wells by 2026 in an effort to reach 100,000 bpd. View the full article
The deal will increase Occidental’s production 5% to about 1.32 MMboed in 2024, with the extra coming from the Permian basin, the Houston-based company said in a statement Wednesday. Capital spending will increase about 6% to $6.9 billion. View the full article
The agreement reached in Riyadh on Sunday exceeds market expectations in some ways, extending so-called “voluntary” cuts from key members including Saudi Arabia and Russia well into next year. However, it also begins rolling back those supply reductions in October, earlier than some OPEC-watchers had assumed. 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.