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The data published by OPEC’s Vienna-based secretariat on Wednesday show that three of the coalition’s biggest members still haven’t conformed to their oil production targets, let alone begun additional compensatory cuts they promised to make up for earlier cheating. View the full article
Occidental, which is building a carbon-capture portfolio through its subsidiary 1PointFive, plans to build a fleet of plants that suck carbon dioxide directly from the air. Microsoft on Tuesday agreed to buy 500,000 metric tons of credits from the company’s Stratos plant in Texas, which is expected to start up next year. View the full article
ADNOC has signed several new long-term LNG sales commitments with international partners, including for the delivery of 1 million tonnes per annum (MMtpa) with Shell and 0.6mtpa with Mitsui & Co., taking the committed Ruwais LNG production capacity to 70%. View the full article
Grayson Mill was one the largest remaining private opportunities reasonably likely to come up for sale, with around 500 remaining drilling locations and over 100 Mboed production. Among remaining private equity-sponsored E&Ps, as opposed to truly private companies like Continental Resources, Grayson Mill had the largest count of remaining undeveloped gross drilling locations. View the full article
Grayson Mill was one the largest remaining private opportunities reasonably likely to come up for sale, with around 500 remaining drilling locations and over 100 Mboed production. Among remaining private equity-sponsored E&Ps, as opposed to truly private companies like Continental Resources, Grayson Mill had the largest count of remaining undeveloped gross drilling locations. View the full article
Over the next two weeks, the well will be flowed and production-tested to more rigorously determine the reservoir pressure, fluid composition, well flow rate and bulk reservoir permeability, and to deliver an early estimate of the overall potential recoverable resources. View the full article
Hamm Institute founder Harold Hamm called Dr. Ann Bluntzer an extraordinarily talented leader who will continue to build the Hamm Institute for American Energy as it tackles the world’s greatest energy challenges and works to secure America’s energy future. View the full article
Angola’s 2025 limited tender will feature Block 40, Block 25, Block 39 and Block 26 in the Benguela basin as well as Block 22, Block 35, Block 37, Block 38 and Block 36 in the Kwanza basin. Additionally, the country has four onshore blocks available; 11 blocks on permanent offer; and five marginal fields ready for exploration. View the full article
Electromagnetic Geoservices ASA has entered into an agreement for a fully pre-funded offshore Ocean Bottom Node (OBN) seismic survey in the Barents Sea. This survey, which will be undertaken in collaboration with Velocitas Geo Solutions, marks EMGS' first venture into seismic node projects. View the full article
The company expects to drill as many as five wells within the Northern Cape Ultra Deep license block, about 300 km (186 miles) offshore the west coast of South Africa in depths up to 3,200 m. Shell and TotalEnergies SE made oil and gas discoveries in Namibian waters north of the block starting in 2022. View the full article
Manatee is slated to start production in 2027. Once online, Manatee is expected to reach peak production of approximately 104,000 boed. View the full article
Devon will disburse $3.25 billion in cash and $1.75 billion in stock, it said in a statement Monday. The company plans to finance the first portion with cash on hand and debt. The deal is expected to close by the end of the third quarter. View the full article
Eni has made a new discovery on the Yopaat-1 EXP exploration well in Block 9, approximately 63 km off the coast in the mid-deep water of the Cuenca Salina in the Sureste basin offshore Mexico. The preliminary estimates indicate a discovered potential of around 300-400 MMboe of oil and associated gas in place. View the full article
The Naingopo well is targeting 163 MMbbl mof unrisked prospective oil resources or 843 Bcf of unrisked prospective natural gas resources. View the full article
Devon will disburse $3.25 billion in cash and $1.75 billion in stock, it said in a statement Monday. The company plans to finance the first portion with cash on hand and debt. The deal is expected to close by the end of the third quarter. View the full article
The contract value for the firm period is approximately $68 million, and the contract also includes two 7-month options. The planned start-up of operations is set for March 2025. View the full article
Slim’s Grupo Carso agreed to a deal with Mexico’s state-run Petroleos Mexicanos to explore and extract from Lakach, a deepwater field discovered in 2007 about 98 km (61 miles) southeast of the city of Veracruz. Carso will team with Houston-based Talos Energy and a local unit of Spain’s Fomento de Construcciones y Contratas SA to develop Lakach. View the full article
Suncor said late Thursday that it’s temporarily curtailing some production at Firebag because of a nearby wildfire. The blaze is about 8 km (5 miles) from the site and grew to about 12,000 hectares (29,650 acres) in size since Thursday. View the full article
Georgetown aims to acquire, process, and interpret high-quality 3D seismic data to aid in the exploration and development of oil and gas resources in the Guyana-Suriname basin. This data will also be used for future bidding and licensing rounds. View the full article
Technip Energies and SBM Offshore announced the formal implementation of Ekwil, a 50/50 floating offshore wind joint-venture. Ekwil is a pure player delivery partner offering a diversified range of ‘series production’ floating offshore wind solutions to meet the growing and demanding needs of energy customers around the world.
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Shell Plc, TotalEnergies SE, bp Plc and Mitsui & Co. will each take a 10% stake in the Ruwais LNG plant, said the people, who asked not to be named as the information isn’t public. Agreements may be signed as soon as next week, the people said. 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
OEUK warned many of the industry’s skilled people and investors remain deeply concerned about Labour proposals for a further windfall tax on homegrown oil and gas production and to end new oil and gas licenses in UK waters. OEUK says such measures would not create the investment conditions the UK needs to deliver the homegrown energy transition needed to kickstart economic growth. View the full article
The discoveries include two unconventional oil fields, one light Arabian oil reservoir, two natural gas fields, and two natural gas reservoirs. View the full article
Intelligent Wellhead Systems and ProFrac announced the first successful field tests utilizing MQTT (Message Queuing Telemetry Transport) protocol for the safe and efficient transfer and visualization of wellsite data during hydraulic fracturing operations. 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.
