Exploration ///

TGS announces new multi-client 3D program in Newfoundland-Labrador

TGS announces the expansion of its multi-client library offshore Eastern Canada, with plans to acquire approximately 2,000 km² of 3D seismic data, in partnership with PGS.

Wintershall Norge makes small discovery in the North Sea

Wintershall Norge AS, operator of production licence 248, has completed the drilling of wildcat wells 35/8-6 S and 35/8-6 A.

British Columbia to invest $5 million in funding Geoscience BC

To further support its work in encouraging mineral, coal, and oil and gas exploration investment in British Columbia (B.C.) through the collection and distribution of publicly available geoscience data, Energy and Mines Minister Bill Bennett announced today that the Province will provide $5 million in funding to Geoscience BC.

Statoil farms into Turkey onshore acreage

Statoil has entered a binding letter agreement into two exploration licenses in the Thrace region in the European north-western part of Turkey.

Africa offshore drilling at six-year low as explorers curb quest

U.S. explorers aren’t the only ones idling rigs as sub-$50 crude forces oil and gas drillers in Africa to slow their search for new reserves.

Kosmos Energy finalizes Suriname farm-out with Hess Corp.

Kosmos Energy has announced that it has entered into a farm-out agreement with Hess Suriname Exploration Limited, a wholly-owned subsidiary of the Hess Corporation, covering the Block 42 contract area offshore Suriname.

Occidental names Hollub first woman CEO of big U.S. oil firm

Occidental Petroleum Corp. named Vicki Hollub as CEO Friday, making her the first female CEO of a major U.S. energy explorer.

Cnooc revenue drops as output gain outweighed by oil tumble

Cnooc Ltd., China’s biggest offshore oil and gas explorer, reported a 31% decline in revenue and an increase in output amid a crash in crude prices.

Analyst who called Pacific E&P crash has a new Colombia oil bet

Ian Macqueen, the analyst who called Pacific Exploration & Production’s downfall, has a new buy recommendation for investors looking to benefit from Colombia’s oil potential.

Bowleven granted licence extension for Bomono project onshore Cameroon

Bowleven, the Africa focused oil and gas exploration group traded on AIM announced that it has been awarded a one-year extension to the existing Bomono exploration licence, onshore Cameroon, pending the final award of an Exploitation Authorization (EA).

For Israel energy explorers, bad news may be good news

The latest bout of bad news for Israel’s natural gas extraction plans may turn out to be a boon for energy explorers.

Inpex sees $606 million in writedowns amid oil rout

Inpex Corp., Japan’s biggest oil and gas explorer, expects to book $606 million in impairment charges for the year just ended, following the collapse in oil and gas prices.

Pacific instructed to suspend operations at Quifa Block in Colombia

Pacific Exploration & Production Corp. has announced that the company was formally notified of the Colombian Constitutional Court's decision instructing the company to suspend operations within two km of the border of an indigenous community known as "Vencedor Piriri," encompassing a portion of Quifa Block.

BP and CNPC sign BP's first shale gas production sharing contract in China

BP and China National Petroleum Corporation (CNPC) today signed a production sharing contract (PSC) for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan basin, China.

$40 crude not the only problem facing Norway's oil industry

The collapse of crude prices isn’t the only problem facing energy companies in Norway: Explorers in western Europe’s biggest oil-producing nation also have had their leanest drilling spell in almost a decade.

Adnoc open to additional onshore partners

Abu Dhabi National Oil Co. (Adnoc) is willing to accept additional partners at its main onshore fields, a senior company official said, almost a year after awarding less than half the production rights it offered for the deposits in a bidding round.

India's flagship oil explorer doubles down against low prices

India’s state-owned oil explorer won’t let low crude prices clip its wings.

U.S. drillers return to parking oil rigs as supplies build

Explorers once again idled drilling rigs in U.S. oil fields as crude inventories continue climbing, boosted by a surge in imports.

Eni plans deeper cost cuts, asset sales to weather oil plunge

Eni SpA, Italy’s largest oil producer, plans additional asset sales valued at $7.9 billion by 2019 and deeper cost cuts, as it seeks to offset the impact of the plunge in oil prices.

Rosneft commences exploratory drilling offshore Vietnam

Rosneft Vietnam B.V., a company of Rosneft Group, has started drilling exploration well PLDD-1X at Block 06.1 located offshore Vietnam.