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On Mexico’s decline Pemex hopes new Gulf discoveries shed light on reversal

October 11, 2018
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“On Mexico’s decline Pemex hopes new Gulf discoveries shed light on reversal†Click To Tweet Mexico’s state-run oil company Pemex announced two new discoveries in the shallow Gulf of Mexico that it hopes will reverse its decade-long decline in oil production. Pemex said its new discoveries offshore of southeastern Mexico near Tabasco are named Manik and Mulach and – combined

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ConocoPhillips gets first oil from North Slope GMT1

October 11, 2018
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“ConocoPhillips gets first oil from North Slope GMT1†Click To Tweet ConocoPhillips Alaska has achieved first oil production on the North Slope at the Greater Mooses Tooth #1 (GMT1), the company announced Oct. 9. The GMT1 drill site is located in the National Petroleum Reserve-Alaska (NPR-A), an area of land on the Alaska North Slope owned by the U.S. federal

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Chevron leaving Norway, last exploration license up for sale

October 11, 2018
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“Chevron leaving Norway, last exploration license up for sale†Click To Tweet OSLO (Bloomberg) — 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. Chevron’s activity off Norway has been limited for years, but

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Big Oil to Bury Skeptical Investors in Cash

October 10, 2018
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“Big Oil to Bury Skeptical Investors in Cash†Click To Tweet (Bloomberg) — Investors still haven’t forgiven oil companies for being ill-prepared for a crude-price collapse four years ago. Perhaps more than half a trillion dollars will change their minds. With oil above $80 a barrel as costs languish at an eight-year low, the industry is seeing green. In 2018

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Mozambique pulls $900 million from majors for oil and gas exploration

October 10, 2018
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“Mozambique pulls $900 million from majors for oil and gas exploration†Click To Tweet Companies exploring for oil and gas in Mozambique will spend at least $900 million, boosting the nation’s hopes of becoming a major exporter, Mineral Resources Minister Max Tonela said. Empresa Nacional de Hidrocarbonetos, the state-owned oil company, will have stakes of 15% to 30% in the

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Permian wells browning at 15% annually | OutPut by Rig Lynx

October 10, 2018
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“Permian wells browning at 15% annually†Click To Tweet Oil producers in the Permian basin and elsewhere could soon find themselves facing the oilfield equivalent of trying to walk up the down escalator. The oil industry, and particularly the Permian, is in the midst of a boom. But analysts say new hints that maturing wells are falling well short of

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Baker Hughes grabs 5% equity in ADNOC Drilling | OutPut by Rig Lynx

October 8, 2018
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    “Baker Hughes grabs 5% equity in ADNOC Drilling†Click To Tweet   Baker Hughes, agreed to buy a 5% stake in Adnoc Drilling, a deal that values the unit of government-run Abu Dhabi National Oil Co. at about $11 billion. The investment marks the first time that an international partner takes a direct equity stake in an existing Adnoc services business,

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Shelf Drilling scores work in Italy and Nigeria | OutPut by Rig Lynx

October 8, 2018
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    “Shelf Drilling scores work in Italy and Nigeria†Click To Tweet   Italy The Italian oil company has hired the Key Singapore jack-up rig and has extended the contract for the Key Manhattan rig. The contract for the Key Singapore jack-up rig is for two years and is expected to start between May and July 2019. Eni will have an option to extend

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Shell grants Awilco 3 more options for the WilPhoenix | OutPut by Rig Lynx

October 7, 2018
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“Shell grants Awilco 3 more options for the WilPhoenix†Click To Tweet The original contract was signed back in May (Awilco Bags 18 Well Contract With Shell) for a decommissioning program of 18 firm wells plus options totaling a further eight wells. This was later extended for one well. The London-listed driller on Thursday evening said that the new amendment

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