Zohr 1X NFW was drilled to a total depth of about 4,131 m (13,553 ft)) and hit 630 m (2,067 ft) of hydrocarbon column in a carbonate sequence of Miocene age with excellent reservoir characteristics (more than 400 m of net pay), Eni said in a news release.
Oil-price volatility is creating a nightmare for petrochemical companies planning investments, according to Don Bari, vice president of technology and analytics for IHS Chemical and author of the report.
Of the major shale plays, the Utica is expected to show gas production increases in June, July and August, the EIA said. Though by September, production in the play will also start to slip.
The transaction will expand Schlumberger’s revenue base by more than 20%, Paal Kibsgaard, the company’s CEO and chairman, said in a press call. Schlumberger expects cost synergies of $900 million over two years
Cobalt International made huge discoveries in a seven-year period offshore Angola but cedes interest after a federal investigation, low oil prices and uncertainty for all oil producers.
The Climate & Clean Air Coalition Oil & Gas Methane Partnership said it has identified several low-cost, quick-payback projects that lower methane emissions.
After a decade in the Haynesville, the company shifted from natural gas to a broader asset base that included liquids. The company also gains relief from obligations to its midstream assets.
Moody’s lowers its outlook for global sector from ‘positive’ to ‘stable’ as spending cuts, reduced production cloud outlook for industry.