Exploration & Production - News
In a separate press release, Statoil reported Jan. 17 that it made a new oil and gas discovery near Norne that could hold between 20 million barrels (MMbbl) and 80 MMbbl of resources.
As a result of the combination, Noble will become the second-largest acreage holder in the Delaware Basin with nearly 120,000 net acres in the Delaware core
Drillers cut seven oil rigs in the week to Jan. 13, bringing the total rig count down to 522, compared with 515 rigs seen one year ago, according to Baker Hughes Inc. on Jan. 13.
State agencies in New Mexico and North Dakota are offering acreage through separate lease auctions, according to EnergyNet, which has been retained to handle the sales.
Hess Corp. budgeted $2.25 billion for E&P this year, higher than the $1.9 billion it spent in 2016, in one of the first signs that the shale industry will spend more in 2017 after years of declines.
The offer includes nonoperated interests in the Big Mineral Creek Field plus behind-pipe opportunities. The Oil & Gas Asset Clearinghouse is the exclusive technical, marketing and transaction adviser for the sale.
The divestment helps strengthen Synergy's balance sheet and also consolidate its footprint, said Lynn A. Peterson, the company's chairman and CEO.
The new platform was launched in November and is now used for all of the company's purchases, including for its E&P arm as well as its so-called midstream and downstream Industrial Transformation unit.
Nick Search will oversee global business activity and will be based in the South London office. Search has 36 years’ experience in the offshore energy and marine industries.
With Trump poised to take office on Jan. 20, energy companies and their lobbyists are eyeing a new gusher of federal drilling and mining leases after a period of stagnation under the administration of Barack Obama.
The Texas General Land Office is auctioning 105 tracts covering 26,609.1755 net mineral acres across 14 counties. EnergyNet has been retained to administer the sealed-bid auction.
Neuquen province, where most of the formation is located, agreed to stabilize taxes as part of the deal; and labor unions have signed onto more flexible contracts, Reuters reported.