Exploration ///

Statoil reinforces exploration strategy with 13 new leases in GOM

Statoil successfully bid on 13 leases in the U.S. Department of the Interior’s central region Gulf of Mexico lease sale 247, which took place on March 22. The company was the high bidder on all but two of the leases targeted, securing a stake in all of its main priorities.

Statoil wildcat strikes oil northeast of Gullfaks field

Statoil Petroleum AS, operator of Gimle Unit and production licence 193, has completed the drilling of wildcat well 34/10-55 S.

Eni strikes pay in Mexico's Campeche Bay

Eni has successfully drilled the Amoca-2 well in the shallow waters of Campeche Bay, offshore Mexico, confirming the presence of oil in multiple reservoirs.

OGA awards 25 licences for UKCS in 29th offshore licensing round

The Oil and Gas Authority (OGA) is to award 25 licenses for 111 blocks or part blocks to 17 companies in the 29th Offshore Licensing Round to enable further exploration and production across frontier areas of the UK Continental Shelf (UKCS).

ONGC to invest $10 billion in deepwater projects off India's east coast

India’s Oil & Natural Gas Corp. is wading into deep waters, where energy giants BP Plc and Reliance Industries Ltd. found a sea of trouble.

Statoil receives consent for exploration drilling in block 7121

Statoil has received consent to drill exploration well 7121/8-1 in production licence 849. The well is to be drilled in a prospect named Blåmann.

Sound Energy completes drilling of third Tendrara well, onshore Morocco

Sound Energy, the African and European focused upstream gas company, has announced that TE-8, the third well at the Company's Tendrara licence (onshore Morocco), has now been drilled to a final target depth, at a measured depth (MD) of 3,120 m, corresponding to a vertical depth of 3,066 m, some 359 m into the Paleozoic formation.

Algeria’s Sonatrach to invest $50 billion, boost crude output

Algeria’s state-run energy producer plans to boost crude oil output by 14% in the four years to 2019 and invest billions of dollars in exploration projects.

Gulf of Mexico lease sale yields $275 million in high bids

U.S. Secretary of the Interior Ryan Zinke today announced that Lease Sale 247 for oil and gas parcels in the Gulf of Mexico garnered $274,797,434 in high bids for 163 tracts, covering 913,542 acres in the Central Planning Area of the Outer Continental Shelf offshore Louisiana, Mississippi, and Alabama.

Eni awarded two new blocks offshore Ivory Coast

Eni today announced that it has obtained majority stakes in two new exploration blocks off the shore of the Ivory Coast. The two blocks are located approximately 50 km from the country’s coastline.

Oil's bad timing pressures drillers, as banks review loans

The rally in global oil prices has stalled at the worst possible time for explorers, just as banks reassess credit lines crucial to their growth.

Investment trio hunts for bargains after crude crash

A trio of Houston-based private-equity funds is sifting through the oil industry with a view to potentially reaching $4 billion of investments after the market crash created some bargains.

Oil giants upending shale turf where wildcat drillers once ruled

Exxon Mobil Corp., Royal Dutch Shell Plc and Chevron Corp., are jumping into American shale with gusto, planning to spend a combined $10 billion this year, up from next to nothing only a few years ago.

SDX Energy commences drilling at South Disouq, Egypt

SDX Energy Inc., the North Africa focused oil and gas company, has announced the commencement of drilling operations on the SD-1X well at its South Disouq concession in the Nile Delta area of Egypt.

Senex accelerates Cooper basin gas production with grant funding

Senex Energy has today announced it will accelerate the delivery of gas from its Vanessa field in the Cooper basin with the approval of $5.82 million in funding through the South Australian Government’s PACE Gas Grant Program.

Fugro continues hunt for hydrocarbon seeps in U.S. Gulf of Mexico

In collaboration with multi-client geoscience data company, TGS, Fugro continues to map the seafloor in the Gulf of Mexico to pull together a complete picture of geological features, including hydrocarbon seeps.

CNOOC exercises pre-emption rights in Tullow’s Uganda farm-down

CNOOC Uganda Limited has notified Tullow that it has exercised its pre-emption rights under the joint operating agreements between Tullow, Total and CNOOC to acquire 50% of the interests being transferred to Total on the same terms and conditions that were agreed between Tullow and Total.

Trump weighing Eni bid to drill in Arctic waters after Obama ban

The Interior Department is weighing Eni SpA’s request to explore for oil in waters north of Alaska, giving the Trump administration a chance to reverse course from former President Barack Obama’s attempt to curtail Arctic drilling.

Eni reports dry well northwest of Johan Castberg, Barents Sea

Eni Norge AS, operator of production licence 716, has completed the drilling of wildcat well 7318/12-2. The well, which was drilled about 80 km northwest of the 7220/8-1 Johan Castberg discovery in the Barents Sea, is dry.

No hydrocarbons found in Boné exploration well, Faroe Petroleum says

The Boné well has been drilled to a total depth of 3,501 m. The well encountered approximately 106 m of gross water bearing reservoir in the primary target, the Realgrunnen Group. Data acquisition and sampling has been undertaken including logging and water sampling.