In a world of $55/bbl oil, Exxon Mobil Corp. is relying on shale fields in Texas, Oklahoma and North Dakota to help fund the next wave of big overseas projects it needs to thrive in the future.
Exxon Mobil Corp. anticipates capital spending of about $34 billion in 2015—12% less than in 2014—as it continues to bring major projects online, the company reported Wednesday.
Because of the long timelines associated with Gulf of Mexico (GoM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GoM crude oil production through 2016, according to the U.S. Energy Information Administration's Today in Energy report..
Ocean Rig's Eirik Raude has arrived in the North Falkland basin (NFB) ahead of a six-well campaign, Rockhopper Exploration has reported.
BOEM Director Abigail Ross Hopper has announced that the bureau will offer more than 21 million acres offshore Texas for exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area.
Mexico’s hopes of replicating the U.S. offshore oil boom rest on authorities sweetening contract terms after prices collapsed, according to prospective drillers, as preliminary terms being offered by Mexico “need to be a little more competitive,” according to the CEO of BP.
Maersk Drilling has been awarded a contract from Eni Ghana Exploration and Production Ltd., an Eni subsidiary, for employment of the newbuild drillship Maersk Voyager.
Kosmos Energy’s CB-1 exploration well, in the Cap Boujdour permit area offshore Western Sahara, has encountered hydrocarbons. The well penetrated approximately 14 m of net gas and condensate pay in clastic reservoirs over a gross hydrocarbon bearing interval of approximately 500 m. The discovery is non-commercial, and the well will be plugged and abandoned.
PERTH, Australia -- Otto Energy Philippines, a subsidiary of Otto Energy, has signed a farm-in agreement with Red Emperor Resources to earn a 15% working interest in SC55, offshore the Philippines.
One of the major challenges faced by maintenance engineers across many industries is the extremely limited amount of time in which an urgent repair, such as a pipe or tank leak, must be carried out.
Leading offshore drilling contractor Transocean has reported a net loss of $739 million, or $2.04 per diluted share. To add to the contractor's troubles, Moody’s downgraded Transocean debt to junk after the company booked over $1 billion in write offs.
INTECSEA has been selected by Chevron to provide engineering and long-lead procurement services for the front-end engineering & design
(FEED) phase of the Buckskin/Moccasin development in the Gulf of Mexico.
CGG, the oil field seismic surveyor that rejected a takeover approach last year by Technip, reported a net loss of $1.2 billion in 2014 after a writedown for restructuring costs and an impairment on marine assets.
McDermott International and Petrofac have formed a strategic marketing alliance to pursue top-tier deepwater subsea, umbilical, riser and flowline (SURF) projects.
Elsevier has launched Geofacets Mexico, a special edition of Geofacets, designed to give oil and gas companies a competitive advantage in completing Mexico’s oil and gas block bidding.
Saipem has awarded Schneider Electric a contract to design, fabricate and pre-commission two fully-integrated technical buildings—also called E-House modules—to support the deepwater Kaombo FPSO project in Angola, operated by Total E&P Angola with a 30% share on Block 32.
U.S. and European suppliers to the oil industry are still able to seek work in Russia’s Arctic despite sanctions designed to limit their involvement because the rules don’t apply to foreign subsidiaries.
Conductor Installation Services (CIS), an Acteon company, has announced that it has successfully completed a conductor installation operation 17 hours ahead of schedule for a leading North Sea oil and gas operator.
Rowan Drilling has taken delivery of the Rowan Reliance ultra-deepwater drillship. The third in a series, the newbuild was built at the Hyundai Heavy Industries yard in South Korea.
HAMILTON, Bermuda – Seadrill, the world's third-biggest offshore driller, has cut $1.1 billion worth of Petrobras orders from its backlog.