Exploration ///
Big Oil is giving up looking for singles and doubles in the Gulf of Mexico: Now it’s home runs or bust.
Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, has announced the result of the well on the Central Blocks license, offshore Namibia.
Higher oil prices may seem like the pot of black gold at the end of the rainbow for wildcat explorers in frontier plays. But even with talk that prices of $100/bbl could again be in sight, investors are wary before taking the gamble.
Chevron Corp. is selling its last remaining oil exploration license in Norway, putting it one step closer to a full retreat from the aging North Sea basin as the U.S. major seeks higher returns elsewhere.
Emily Querubin, World Oil
John Costagna: Fostering the industry’s human intelligence
Kurt Abraham, World Oil
A job done well
Exploration companies in Mozambique will spend at least $900 million, boosting the nation’s hopes of becoming a major exporter.
A letter of intent (LOI) was signed in London by National Oil Corporation chairman Eng. Mustafa Sanalla, BP group chief executive Bob Dudley and Eni CEO Claudio Descalzi.
Saudi Arabia’s crown prince said he’s getting close to striking a deal with Kuwait about two jointly owned fields that can produce half a million barrels a day of crude.
Savannah Petroleum PLC has announced the result of the Zomo-1 exploration well as an oil discovery.
LMKR announced the release of GeoGraphix 2017.3, the latest upgrade to the GeoGraphix software that comes with extensive updates focused on increasing productivity.
Equinor has, together with partners Eni and Petoro, completed the appraisal well on the Cape Vulture discovery from 2017. The well confirms a volume potential of 50-70 MMbbl of recoverable oil. The discovery more than doubles the remaining oil reserves to be produced through Norne field.
Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, has announced that the Ocean Rig Poseidon, a sixth generation deepwater drillship, has commenced its mobilization with estimated arrival at the Prospect S well location in Namibia in the next 24 hours.
ExxonMobil has increased its holdings in Brazil’s pre-salt basins after it won the Titã exploration block with co-venturer Qatar Petroleum during Brazil’s 5th pre-salt bid round.
DEA Norge AS, operator of production license 721, has concluded the drilling of wildcat well 7321/4-1. The well is dry.
Eco (Atlantic) Oil & Gas Ltd., an oil exploration focused company with licenses in the highly prospective regions of offshore Guyana and in the Walvis basin offshore Namibia, has updated the market on its PEL 30 Block (Cooper Block) in Namibia.
Total announces a successful appraisal of the A6 Block, Shwe Yee Htun-2 discovery, offshore Myanmar, completing a major step towards confirming a commercial project. The well was drilled to a final depth of 4,820 m and encountered 40 m of net gas pay in a high-quality reservoir.
Total announces a major gas discovery on the Glendronach prospect, situated offshore UK, West of Shetland.
Block Energy Plc, the exploration and production company focused on the Republic of Georgia, has announced that it has signed an agreement with JSC Norio Oil Company (JSC NOC), a Georgian drilling contractor, and Georgia Oil and Gas Ltd. (GOG), a British Virgin Islands company and owner of drilling equipment in the Republic of Georgia, for the supply of drilling and workover equipment for the Company’s 2018-2019 work programs across its Georgian license base.
Tullow Oil Plc said an exploration well off Namibia was a dud, damping enthusiasm over a frontier area that’s attracted renewed interest amid oil’s recovery.