Exploration ///

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.

Total plans hunt for 'elephant' oil find off Uruguay's coast

France’s Total SA is weeks away from drilling one of its most important offshore exploration wells in the Americas this year as it hunts for a giant oil field in Uruguayan waters.

Sound Energy signs MOU for Badile rig in Italy

Sound Energy has announced signature of a Memorandum of Understanding (MOU) for the rig meant for the forthcoming Badile exploration well.

MEO Australia advances exploration program in Cuba

MEO Australia Limited has announced it has executed a Private Placement Agreement (PPA) with London listed Leni Gas Cuba Limited to raise $1.4 million, with funds to be used to advance MEO’s exploration program on the company’s newly awarded 2,380 km2 onshore oil block, Block 9 in Cuba.

Eni completes first appraisal well of Zohr discovery in Egypt

Eni successfully drilled the Nidoco North 1X well, in the exploration prospect of Nooros East, located in the Abu Madi West license, in the Nile Delta, Egypt.

Lukoil begins exploration at Vostochno-Taimyrsky ahead of schedule

PJSC Lukoil has begun the first stage of exploration activities at the Vostochno-Taimyrsky license block in the Krasnoyarsk region ahead of time.