(WO) – ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals. The company expects Uaru, the fifth project on Guyana’s offshore Stabroek block, to add approximately 250,000 bbl …
Hess Corporation (NYSE:HES) beat Wall Street estimates in its first-quarter earnings report released on Wednesday and added another discovery in offshore Guyana to its production portfolio, though the good news failed to boost share prices in early morning …
The government of Guyana, the newest and hottest oil production spot in the world, has pushed back the deadline for receiving bids in the country’s first-ever offshore licensing round by three months.
Initially, Guyana invited bids by April …
(Bloomberg) – Vantage Drilling International is exploring strategic options including a potential sale, according to people familiar with the matter.
The offshore drilling contractor is working with a financial adviser, said the people, who asked to not …
The Biden administration will hold an auction of oil leases in the U.S. Gulf of Mexico on Wednesday, the first test of demand for new investment in the region since the Russian invasion of Ukraine tightened energy supplies …
COPENHAGEN – Denmark on Thursday invited the Russian-controlled operator of the Nord Stream 2 pipeline to help salvage an unidentified object found close to the only remaining intact gas pipeline under the Baltic Sea.
Three explosions last September on …
(WO) — Shell Offshore Inc., a subsidiary of Shell plc, announced the Final Investment Decision (FID) for Dover, a planned subsea tieback to the Shell-operated Appomattox oil production hub in the U.S. Gulf of Mexico. Dover is expected …
(Bloomberg) – Guyana is planning another auction of prospective oil-field leases next year as the world’s fastest-growing economy seeks to maintain the pace of development, Vice President Bharrat Jagdeo said.
The country’s first auction is expected to take …
(Bloomberg) — Woodside Energy Group Ltd., Australia’s biggest oil and gas producer, says it will review potential acquisitions in the Gulf of Mexico after reporting its highest-ever profit.
Underlying earnings more than tripled to $5.2 billion …
(WO) — Shell Offshore Inc., a subsidiary of Shell plc (Shell), announced has begun oil production at the Shell-operated Vito floating production facility in the U.S. Gulf of Mexico (GoM). With an estimated peak production of 100,000 boed, …
Guyana, one of the world’s hottest frontier oil plays, is expected to have its new oil production sharing agreement (PSA) model ready in time for its auction that runs through mid-April, according to Guyana’s VP.
The oil and …
Fourth-quarter earnings on Wednesday saw Hess Corporation (NYSE:HES) soundly beat Wall Street estimates, with another discovery offshore Guyana playing a significant role in the company’s newly revealed $3.7-billion spending plan for 2023.
In its Q4 2022 financial …
HOUSTON – Exxon Mobil Corp. XOM.N is preparing to approve its fifth oil production project in Guyana and is considering taking additional exploration acreage, the head of its Guyanese operations, Alistair Routledge, told Reuters in an interview.
The …
The Biden Administration is finalizing the next five-year offshore leasing program, which has been delayed by several months already, creating yet another uncertainty for the U.S. oil industry which has had to grapple with numerous mixed messages from …
Demand for offshore rigs for overseas drilling has soared this year even as U.S. oil-rig growth has plateaued. According to Baker Hughes, there are now 622 oil rigs operating in the U.S., down from the 683 in …
Joint venture partners APA Corporation and TotalEnergies have declared the Awari exploration well offshore Suriname “noncommercial” in a rare disappointment for investors in a block that has seen five discoveries since 2020.
TotalEnergies completed drilling the Awari …
The Biden administration has approved plans to build the nation’s largest oil export terminal off the Gulf Coast of Texas, which would add 2 million barrels per day to the U.S. oil export capacity, The Texas Tribune and …
Exxon Mobil Corp will take up to a $2 billion loss on the highly leveraged sale of a troubled California offshore oil and gas field that have been idled since a 2015 pipeline spill
The sale comes …
Guyana’s next oil tender will be conducted under new rules that significantly increase the country’s share of the oil revenue.
This is according to Guyana’s vice president, who said this week that the government will offer 14 …
WASHINGTON – The American Petroleum Institute (API) today submitted comments urging the U.S. Department of the Interior (DOI) to open offshore acreage to safe and environmentally responsible American energy development.
In its comments in response to the 2023-2028 …
By: Larry Busnardo, EnerCom
The natural gas crisis unfolding in Europe appears to be intensifying as Russia has dialed back natural gas supplies to the region. European countries have been scrambling to determine how to meet …
(Bloomberg) — The Biden administration on Wednesday issued oil and natural gas leases to companies that nabbed the Gulf of Mexico drilling rights in a government auction later invalidated by a federal court.
The Interior Department’s Bureau
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Canada’s Atlantic coast.
Surging oil prices are …
By: Larry Busnardo, EnerCom
There is growing concern that the natural gas crisis unfolding across Europe will intensify as the Russia Ukraine conflict enters its seventh month. The situation is being exacerbated by a combination of …
(Bloomberg) — Eni SpA is planning a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years to help Europe diversify supplies of the fuel, according to a company executive.
The …
Neptune Energy announced the award of a new contract to TechnipFMC for the performance of technical services in Norway.
The Technical Service Agreement (TSA) builds on an existing contract which has been optimized to fit Neptune’s future …
Industry groups reacted to the Department of Interior’s release of its five-year offshore drilling plan that seeks to block new offshore drilling in the Atlantic and Pacific oceans, saying it would be an overall disadvantage to America and …
Shell Australia and its joint venture partner, SGH Energy, have taken a final investment decision to approve the development of the Crux natural gas field, off the coast of Western Australia. Crux will provide further supplies of natural …
(Bloomberg) — Shell Plc won official consent to develop the Jackdaw natural gas field in the UK’s North Sea, eight months after the country’s regulator blocked the project on environmental concerns.
The move marks a change in government …
(Bloomberg) — Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center.
In the past three years, Shell has …
