Exploration ///

Talos Energy announces successful deepwater Gulf of Mexico exploration results

Talos Energy, along with affiliates of BP and Chevron U.S.A. announced successful drilling results from the Puma West exploration project located in the U.S. Gulf of Mexico Green Canyon Block 821.

TGS to reprocess 9,024 km2 cross-border survey for offshore Timor-Leste and Australia license rounds

TGS anticipates significant uplift in quality beyond the original PSTM data which was acquired in 2012. Utilization of modern imaging techniques, including full waveform inversion, will enable a significantly enhanced evaluation of the prospectivity of the area.

Shell reports first profit from upstream operations since pandemic began

Shell’s upstream unit was able to capture “the upside from the current commodity price environment” in the first quarter, according to a statement April 7th.

U.S. Interior chief reviewing “fundamentally broken” oil rights system

One day after the U.S. energy secretary phoned Saudi Arabia on the "importance of affordable and reliable energy for consumers," Interior Secretary Deb Haaland called the domestic fossil fuel industry "fundamentally broken," suggesting that Biden's oil and gas leasing moratorium will be anything but temporary.

PetroChina’s $37B capex budget makes it the world’s most active oil company

China’s quick recovery from Covid-19 means that its demand for oil and gas has fully recovered from the pandemic-induced swoon of early 2020, and President Xi Jinping continues to make energy security a top priority.

Lackluster results diminish interest in Norway’s latest Arctic oil lease round

The Nordic country’s oil and gas industry has been keen for new acreage to offset an expected decline in production toward the middle of the decade. The Barents is estimated to hold more than 60% of the undiscovered resources off Norway, according to the nation’s petroleum directorate.

Native Alaskan landowners demand reconciliation for U.S. government’s ANWR statements

Kaktovik Iñupiat Corporation strongly disputed the U.S. Fish and Wildlife Service announcement that it failed with respect to its permit application to conduct seismic studies in the Arctic National Wildlife Refuge, the company said in a statement.

Energean takes on $170M offshore Israel gas exploration plan

Energean sees potential to find about 110 billion cubic meters of gas that it could sell over the next 10-20 years, doubling the company's current reserves in Israel.

Biden prepares to end new oil and coal leases on federal land

Biden's move would block the sale of new mining and drilling rights across some 700 million acres of federal land. It could also block offshore oil and gas leasing, though details are still being developed.

Outgoing Interior chief says Arctic oil leases will survive Biden

“You can write a lot of executive orders, but an executive order doesn’t get you past go,” Interior Secretary David Bernhardt said on his last full day leading the Interior Department. “They still have to run through the gauntlet of the law.”

Norway grants 61 new offshore oil and gas exploration licenses

“This year’s award of 61 new production licenses to as many as 30 companies shows that the petroleum industry still has significant expectations of making profitable discoveries on the Norwegian Shelf,” said Kalmar Ildstad, director of license management in the Norwegian Petroleum Directorate.

Buckeye Partners starts crude exports from new Corpus Christi deepwater dock

The completion of the South Texas Gateway dock enables Buckeye to accommodate the berthing and loading of two vessels simultaneously, further facilitating the supply of North American crude oil to global markets.

Russia ready to open the OPEC+ taps as the U.S. dials back its Arctic drilling plans

World Oil editors discuss The North Face doubling down on its principled stand against well-paying American jobs, Russia wants to see OPEC+ production rise in February, and U.S. land regulators shrink Alaskan oil lease acreage.

Greenpeace can’t stop Arctic drilling, says Norway’s supreme court

The Nordic government beat back a lawsuit by environmental groups in the country’s Supreme Court, which ruled on Tuesday the authorities had acted lawfully by awarding exploration licenses in the Barents Sea to companies including Equinor ASA, Aker BP ASA and Lundin Petroleum AB.

Indigenous Alaskans seek to block Arctic oil lease auction

On Dec. 14th, the groups filed requests with an Anchorage judge for a preliminary injunction to prevent the Interior Department’s planned Jan. 6 auction of oil and gas leases across the refuge’s 1.56-million-acre coastal plain.

What's new in exploration

William (Bill) Head, Contributing Editor

2020—Had enough yet?

What's new in exploration

William (Bill) Head, Contributing Editor

Lions and tigers and bears, oh my!!

Apache executive’s departure sparks worst rout since 2016

The high-profile geologist leading one of Apache Corp.’s most-important exploration ventures has stepped down. The company’s shares and bonds tumbled, and the cost to insure against default surged.

Conventional discoveries fall to lowest levels in 70 years, and a major rebound isn’t likely, says IHS Markit

The low levels in discoveries come as a result of a pullback during the past 10 years in the wildcat drilling that targets conventional oil and gas plays—most drastically after oil prices collapsed in 2014.