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U.S. presidential candidate Kamala Harris faces a problem in Washington County, Pennsylvania, where gas drilling rigs and well pads dot the rolling green farmland. View the full article
Some shale producers are seeking deals even as the biggest names in oil and gas, Exxon Mobil Corp. and Chevron Corp., remain on the sidelines digesting their mega mergers after a blistering run. View the full article
Germany will scrutinize an application to drill for natural gas at a protected marine site after explorer One-Dyas BV cleared a key hurdle with local authorities. View the full article
Petroleos Mexicanos has reached a deal with an oilfield-services provider to drill in the Gulf of Mexico as the heavily indebted state energy company turns to the private sector to boost crude production. View the full article
Inclusion in MSCI indexes provides greater visibility among global investors and increases the credibility of the stock in financial markets. Inclusion of the ADNOC Drilling stock is expected to boost liquidity, given the expected passive inflows as well as potential appetite from active institutional investors tracking MSCI indexes. View the full article
The newly named Seatrium New Energy Laboratory will continue to drive innovation, focusing on addressing challenges related to new energies, offshore renewables, marine decarbonization, and digitalization within the Offshore & Marine (O&M) industry. View the full article
In 2019, BEAC took several measures to restrict the flow of foreign currency. The intention was to tackle the problems of low foreign exchange reserves, capital flight, money laundering, and terrorism funding. However, these regulations have only served to kill business in the region — particularly for the energy industry. View the full article
The subsea market segment, which includes players involved in production and processing systems such as subsea umbilical risers and flowlines (SURF), trees, wellheads, manifolds and other components, is poised to experience a significant influx of capital, according to Rystad Energy. View the full article
The goal of the partnership is to identify and assess potential opportunities to decarbonize Serica’s offshore assets and other associated electrification opportunities using renewable power and subsea energy storage. View the full article
Construction on SGP North is scheduled to begin later this year, with infrastructure to include up to 450 new gas production wells, a new field compression station, 27km of pipeline, and road and infrastructure upgrades over two phases. View the full article
Before becoming interim president in 2023, Karr served as the Alliance’s executive vice president for five years. He will continue his work as the petroleum economist for the Alliance. Every month, he releases its Texas Petro Index (TPI), a measure of growth rates and cycles in the Texas upstream oil and gas economy, as well as the Alliance’s Texas Permian Basin Petroleum Index. View the full article
In a lawsuit filed Monday in New York state court, Martin Siegel says the Conoco deal could deprive Marathon investors of more than $6 billion in value. He further alleges Marathon, its directors and financial adviser Morgan Stanley, misrepresented the deal in a proxy statement recommending shareholders back it. 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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Area 2 lies within the emerging South Africa and Namibia (SANAM) super-basin, which stretches from northernmost Namibia to the Durban basin of eastern South Africa. The Block shares the same prolific petroleum play as is currently being successfully explored in the Orange basin of Namibia, and further proven by the Brulpadda and Luiperd discoveries in South Africa’s Outeniqua basin. View the full article
To tap some of these new consumers, parent company ADNOC is building a new plant at Ruwais that will more than double the UAE’s LNG export capacity when it starts operating in 2028. Oman and Qatar are also expanding their LNG production facilities. View the full article
the acquisition includes existing low decline average base production of 29,000 – 30,000 boed, externally and independently evaluated proved and probable ("2P") reserves of 473.2 MMboe, and an extensive drilling inventory, including over 700 Tier 1 locations (246 net Montney locations booked in the Sproule Report 2P reserve category). View the full article
McDermott will design, procure, fabricate, hook up and commission a platform and jacket. The company will also provide design, installation, and commissioning services for a 32-inch gas pipeline that will connect the platform to a gas processing facility operated by Shell. View the full article
Gran Tierra has successfully drilled five exploration wells in Ecuador, each leading to an oil discovery. Three of these five wells are drawing medium to light hydrocarbons from distinct geological zones, highlighting the exceptional potential of the Oriente and Putumayo basins and the significant exploration opportunities that remain within both the Charapa and Chanangue Blocks. View the full article
Anchor production marks the successful delivery of high-pressure technology that is rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 ft below sea level. View the full article
Granite Ridge acquired 51 gross (4.7 net) future drilling locations for $12.6 million. The estimated future development costs for the acquired properties is $50 million. The acquisitions include assets in the Midland, Delaware, DJ, Williston and Appalachian basins. View the full article
Equinor's exit from Suriname is part of a broader strategy, having exited about 20 countries in recent years, including South Africa, Mexico, and Russia, the latter due to the invasion of Ukraine. View the full article
The offshore gas platform was reportedly utilized for GPS spoofing to disrupt civilian navigation. A Ukrainian Navy spokesman emphasized that the platform was not in civilian use, and no civilians were present at the time of the attack. View the full article
It is important for oil and gas companies to have adaptable, low maintenance corrosion solutions to preserve topside and subsea infrastructure in case of delayed commissioning from unexpected market drops. View the full article
Shale accounted for 52% of YPF’s second-quarter production of the equivalent of 539,000 bopd, up from 45% in the same period last year. Industry plans that it’s spearheading for a new shale oil pipeline are also accelerating, with drillers already negotiating to fill two thirds of capacity. View the full article
The extension from October provides firm revenue backlog of approximately $24.3-34.2 million, with the option to extend for an additional well, potentially adding a further approximately $26.9-36.9 million. 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.
