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The Vaca Muerta, Spanish for dead cow, is an oil and gas field in western Argentina, which is said to have natural gas reserves that rival the Permian basin. Its shale oil production, currently at about 300,000 bpd, is expected to grow to more than 1 MMbpd by 2030. View the full article
Despite signals indicating the job market is beginning to flatten, the oil field services sector remains a vital component of the national economy, showcasing resilience amid broader economic fluctuations. While the national economy added a better-than-expected 272,000 jobs in May, the unemployment rate experienced a slight increase to 4%. View the full article
Vallourec low-carbon high performance OCTG solutions will contribute to the development of the Bacalhau and Raia fields operated in the pre-salt, as well as the Peregrino field in the post-salt, while contributing to Equinor's Energy Transition Plan to reach net zero by 2050. View the full article
The Islamabad-based company is targeting oil production of about 50,000 bpd in the next four or five years, from 33,000 bpd currently, Chief Executive Officer Ahmed Hayat Lak said in an interview. The goal is for natural gas production to climb above 900 MMcfd from 720 MMcfd. View the full article
Mineral Resources Development Company Limited (“MRDC”) and Twinza Oil Limited (“Twinza”) have obtained all internal approvals and executed a series of binding agreements for MRDC to take an up to 50% Participating Interest in the Pasca A Development Project. Additionally, the companies agreed to cooperate in the acquisition and development of other oil and gas assets in Papua New Guinea. 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
Trendsetter Engineering, a provider of subsea oil and gas equipment and services, has been awarded a significant contract by Trident Energy do Brasil to deliver two six-slot production subsea manifolds for the Bonito and Bicudo Fields offshore Brazil. View the full article
Supported by TGS' extensive geological database, which includes data from over 425,000 wells and various interpretive products in the Permian basin, this survey offers a comprehensive resource for exploration and development. View the full article
The first phase of decommissioning commenced in February, with Elemental Energies providing well management services from its Houston office for the plugging and abandonment of wells in the Matagorda Island area, offshore Texas. 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
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 software is a fully adaptive, self-learning, and continuously improving system that addresses the unique challenges and requirements of drilling. The AI agent finds the most efficient and safe way to TD, predicts incidents, hazards, and optimizes parameters. View the full article
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
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
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
‘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
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
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
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
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
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
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
The scope of work includes project management, engineering, and execution of subsea services such as inspection, survey, intervention, and maintenance, as well as additional services such as underwater inspection of FPSO (UWILD) and standalone ROV operations. View the full article
Under this agreement, TGS holds the exclusive rights to license all of Tanzania’s offshore mainland data on behalf of the government. The agreement also grants TGS the authority to conduct future acquisition of new seismic data and to reprocess existing data. Additionally, it includes support for upcoming licensing rounds, which are anticipated to commence in 2025. View the full article
Transocean Ltd. announced contract fixtures for three of its harsh environment semisubmersibles. Together, the fixtures represent approximately $161 million in firm contract backlog. 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.
