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Viaro will take full ownership of the Bacton onshore gas terminal and 11 offshore facilities that produced around 28,000 boe last year, according to a statement from the company on Tuesday. That’s equivalent to about 5% of total UK gas production, and the company said it sees potential to expand production further. View the full article
The cost to drill and frac new wells in U.S. shale basins is expected to drop about 10% this year as explorers look to get more for less amid record output, according to a report from Wood Mackenzie. View the full article
European energy companies have been grappling with competing forces — the negative impact of low natural gas prices and falling refining margins due to weak fuel demand, against the positive effect of higher crude prices amid OPEC+ supply cuts. For Eni, the upside outweighed the downside. View the full article
Subsea7 has been awarded an engineering, procurement, construction, and installation contract by bp for the Murlach development, formerly known as the Skua field, located 149 miles east of Aberdeen in the UK North Sea. View the full article
The Biden administration wants more money to purchase oil as it seeks to expand its efforts to refill the depleted U.S. emergency cache. View the full article
Seatrium Financial Services has secured a three-year $810 million syndicated bank guarantee facility. The facility, coordinated by DBS Bank and Standard Chartered Bank, involves eight leading financial institutions. View the full article
Post Oak Minerals V, an affiliate of Post Oak Energy Capital LP, has completed 10 acquisitions valued at over $475 million since early 2024, primarily focusing on the Permian basin. View the full article
TotalEnergies has announced its withdrawal from offshore Blocks 11B/12B and 5/6/7 off the southern coast of South Africa. This decision follows the exit of partner CNRI from Block 11B/12B, where TotalEnergies EP South Africa holds a 45% interest. View the full article
The deal is part of Occidental’s previously announced plan to divest assets to help fund its acquisition of closely held CrownRock LP. View the full article
Post Oak Minerals V, an affiliate of Post Oak Energy Capital LP, has completed 10 acquisitions valued at over $475 million since early 2024, primarily focusing on the Permian Basin. View the full article
Vital Energy and Northern Oil and Gas have agreed to acquire Point Energy Partners for $1.1 billion. The acquisition will increase Vital Energy’s Delaware Basin assets by 25%, bringing its total to 84,000 net acres. View the full article
Vice President Kamala Harris’ campaign said she doesn’t support a ban on fracing, reversing a stance she took on the hot-button oil and gas extraction technique as a presidential candidate in 2019. View the full article
The project aims to transport and store up to 500,000 metric tons of CO2 annually from CF Industries' nitrogen products complex, reducing the site's CO2 emissions by approximately 50%. The startup is planned for 2028. View the full article
Noble Corp. and Diamond Offshore Drilling Inc. announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for their pending merger. View the full article
TotalEnergies sold its stake in 18 Nigerian onshore oil licenses to Chappal Energies. This reflects a trend of junior explorers and African national oil companies acquiring onshore assets as global majors focus on offshore projects. View the full article
National energy associations strongly support the Energy Permitting Reform Act of 2024, introduced by Senate Energy Chairman Joe Manchin and Ranking Member John Barrasso. View the full article
The contracts involve both conventional and in-field processing services for 2D and 3D seismic surveys in countries like Saudi Arabia, Pakistan, Ukraine, the USA, Colombia, and Brazil. View the full article
Adena Power has joined Halliburton Labs, marking a new collaboration aimed at advancing energy storage solutions. View the full article
Leading national energy associations have expressed strong backing for the Energy Permitting Reform Act of 2024, introduced by Senate Energy & Natural Resources Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY). View the full article
Zephyr Energy plc has released initial results from the State 36-2R well at its Paradox Basin project in Utah. The early production test shows promising outcomes for the well, which was evaluated at various rates and choke settings. View the full article
TotalEnergies has sold its stake in 18 Nigerian onshore oil mining licenses to Mauritius-based Chappal Energies. This sale reflects a broader trend where junior and independent explorers, along with African national oil companies are increasingly acquiring onshore assets as global majors shift their focus to offshore projects. View the full article
Baker Hughes Co. lowered its expectations for U.S. shale activity, saying an anticipated recovery in oil drilling is no longer likely this year. View the full article
Energy Workforce & Technology Council President Tim Tarpley released a statement regarding the Energy Permitting Reform Act of 2024, introduced by Senate Energy & Natural Resources Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY). View the full article
Earlier this week, Texas Railroad Commissioner Jim Wright testified before the U.S. House Committee on Natural Resources, where he spoke in favor of bipartisan legislation to provide states with more flexibility to utilize the orphan well plugging funds provided to states under the Infrastructure, Investment, and Jobs Act. View the full article
Two production trains are increasing production already. They will be followed by the third train as early as the end of next week. Full production is expected in August, people said, asking not to be identified because the information was not made public. 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.
