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Oceaneering is contracted to supply up to 362 km, or approximately 225 miles, of steel tube and thermoplastic electro-hydraulic umbilicals and associated subsea distribution hardware for use in projects offshore Brazil. View the full article
The MoU establishes a governance platform supporting Petrobras’ and Shearwater’s joint effort to innovate technologies that improve insights to the subsurface and enhance data value, while also reducing the time, cost and environmental impact of seismic acquisition projects. View the full article
Environmental groups won a case in 2021 that halted the exploration activity in an area known as the Wild Coast. South Africa’s Supreme Court of Appeals dismissed Shell's appeal on Monday. However, it suspended the orders setting aside the granting of the exploration right and each of the two renewals in 2017 and 2021, pending finalization of the third renewal. View the full article
Exxon filed an environmental authorization application with the government Monday for an investment that’s expected to boost the country’s overall production capacity to nearly 1.5 MMbpd, about the same as OPEC member Nigeria. View the full article
The combination of AGR and Ross Offshore will further strengthen the group’s centre of technical excellence in wells, reservoirs and marine & survey management. View the full article
The Sangomar Field Development Phase 1 features the Léopold Sédar Senghor FPSO, named after the first president of Senegal, which is moored approximately 100 km offshore Senegal, with a nameplate capacity of 100,000 bpd. View the full article
Energy Workforce & Technology Council (EWTC) issued a statement applauding the introduction of S.4405, the "Natural Gas Tax Repeal Act," by U.S. Senator Ted Cruz. If passed, the act would repeal the recently implemented tax on methane emissions, a move that the EWTC believes is crucial for the future of the energy industry. View the full article
South Korea's president touted the field as holding as much as 14 Bboe of resources, enough for four years of oil consumption, and 29 years of gas demand in the country. The announcement sent local oil and gas shares soaring and was trending on social media for days. View the full article
The arbitration process to determine whether ExxonMobil can block the $53 billion sale of Hess Corp to Chevron is stalled due to the incomplete appointment of a third arbitrator, according to people familiar with the matter. View the full article
The combined company will boast the biggest selection of latest-model drillships that carry a pair of so-called blowout preventers, a key safety item for drilling in water more than two miles deep. View the full article
In March 2024, Equinor and DNO delineated the Heisenberg discovery, estimating recoverable volumes of 24 to 56 MMboe. They plan to drill a new well in the second quarter of 2024 to explore the Angel prospect and further delineate Heisenberg. View the full article
Daily crude production kicked off the year at 3.73 MMbpd, then plummeted nearly 25% following offshore maintenance. Now, more than one-third of the deficit has been restored, offering far-reaching implications for Latin America’s largest economy and worldwide energy markets. View the full article
Caerus aims to be “the Rocky Mountain region’s most efficient producer,” according to its website. The company operates more than 7,400 wells in the Piceance Basin in Colorado and Uinta Basin in Utah. It also has infrastructure assets including 2,400 miles of gas and water pipelines and a number of water treatment and storage facilities. View the full article
Growth in the world’s demand for oil is expected to slow in the coming years, as energy transitions advance. At the same time, global oil production is set to ramp up, easing market strains and pushing spare capacity toward levels unseen outside of the Covid crisis, according to the Internaional Energy Agency’s (IEA) new oil market outlook. 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
Sheffield hired Brownstein Hyatt Farber Schreck LLP to lobby on “issues related to the FTC,” according to a recently filed disclosure report. View the full article
Goldman Sachs has appointed John Hess to its board of directors. This announcement comes as Goldman advises Hess' company on its $53 billion acquisition by Chevron. View the full article
Vallourec will continue to supply the complete range of tubes and connections for both conventional and complex applications on onshore and offshore oil and gas fields. View the full article
The aim of the agreement is to set out the next steps for implementing a gas to industry business through, on one side, commercialization of domestic gas and, on the other, the creation of a midstream compressed natural gas (“CNG”) partnership to supply Morocco’s growing industrial energy needs. View the full article
ATP will pay 100% of the work program, which initially consists of drilling and completing the AND-4 and AND-5 wells in the Andorinha field and a workover in the CR-2 well located in the POT-T-281 block. View the full article
Kimmeridge is buying out Commonwealth LNG founder Paul Varello’s share in the company as he retires and boosting the firm’s stake to 90%. The company also is appointing David Lawler — who resigned from bp in the wake of Bernard Looney’s departure in 2023 — as chief executive officer of the Kimmeridge Texas Gas unit, which would run Commonwealth LNG. View the full article
MPF5 was launched from the SWS dry dock following the successful completion of planned construction activities, including hull erection, equipment installation and piping outfitting. View the full article
The shale asset (named Tatonka, approx. 46,500 acre) is in Texas with access to the Gulf Coast industrial area, which includes LNG export terminals and ammonia plants. MEPUSA will begin a drilling campaign to evaluate the well performance and develop and operate the asset for full-scale development after 2026. View the full article
Deltic considers it “unlikely” that Selene will require further appraisal prior to field development planning commencing and could be brought into production “relatively quickly” following discovery given the proximity of existing infrastructure. 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.
