Eldorado scoops up another SHI newbuild drillship

  Exxon Mobil Corp has held preliminary talks with Pioneer Natural Resources Co about a possible acquisition of the U.S. shale oil producer, the Wall Street Journal reported on Friday, citing people familiar with the matter.   Discussions between the two companies about a potential deal have been informal, the newspaper said, adding that Exxon executives have discussed a potential tie-up with at least one other company.   Exxon and Pioneer declined to comment on the report.   Exxon views Pioneer as a top target to put its "windfall profits to use," the report said, adding that the talks may not lead to formal negotiations and Exxon may target another company.   Exxon last year earned a record $55.7 billion on sky high oil and gas prices and ended the year with $29.6 billion in cash and equivalents.   The largest U.S. oil producer this week signaled that its first-quarter operating profits dropped about 25% from the fourth quarter of last year, as oil and gas prices eased and refinery maintenance costs rose. Results for the quarter that ended on March 31 are expected to be reported on April 28.   Pioneer, the third-largest producer of oil after Chevron Corp and ConocoPhillips in the top U.S. shale basin, denied a media report six weeks ago that it was considering an acquisition of smaller rival Range Resources Corp.   It said at the time that it was "not contemplating a significant business combination or other acquisition transaction." Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Exxon Mobil Corp has ended a major campaign to find oil in Brazil.   Exxon said in an e-mail to Reuters its initial exploration drilling program in Brazil is now complete and that it is "still engaged in Brazil and continues to pursue exploration activity in the country".   The oil and gas giant suffered a sequence of drilling failures as an operator in the offshore acreage it started snapping up with partners for $4 billion in 2017, Reuters reported last year.   Exxon changed its Brazil country head last year and has been saying in presentations that it will focus efforts in the country with Bacalhau field, a successful exploration campaign led by its Norwegian partner Equinor ASA. In May 2022, Exxon agreed to expand with Equinor the $8-billion Bacalhau project expected to produce 220,000 barrels of oil and gas per day.   But that campaign also suffered delays, and its startup has been delayed to 2025, from 2024. Exxon said on Wednesday it is working with co-venturers to analyze the data to assess the potential for future exploration activities in those blocks.   Exxon had bet billions of dollars on offshore drilling in Brazil, and the country is one of the three geographic areas the company is counting on for most of its future production.   The other two - Guyana and U.S. shale country - are performing well, but Exxon is yet to make a major oil discovery as an operator in Brazil's water.   The WSJ report comes less than a day after Exxon signaled that its first-quarter operating profits dropped about 25% from last year's record levels on easing oil and gas prices.   Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  The Norwegian Petroleum Directorate (NPD) has granted Equinor a drilling permit for well 31/2-24 and 31/2-24 A in PL 923.   The well will be drilled at location 60° 46' 4.61'' N 3° 22' 12.08'' E by the Deepsea Stavanger semi-sub.   Licensees are: Equinor 40%; DNO Norge 20%; Petoro 20%; Wellesley Petroleum 20%.   Planned spud date is June 2023.   Source: NPD   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here