Exploration & Production - News
The Interior Department said it would offer 77.3 million acres offshore Texas, Louisiana, Mississippi, Alabama and Florida, an auction that includes all available unleased areas in the Gulf of Mexico.
Budget deal triples the tax credit for injecting carbon dioxide to bolster crude output.
Oil producer Cenovus Energy Inc.’s said Feb. 15 its fourth-quarter profit soared, as production nearly doubled and the Canadian company reined in expenses.
Last month Encana said it plans to invest nearly 70% of this budget to boost production in Permian and Montney, as oil investors pressure producers to improve production without significantly increasing capital budgets.
For 2018, Marathon plans a capital budget of $2.3 billion, of which about 60% of that will be spent in the Bakken and the Eagle Ford Shale. The rest will be spent in the Permian Basin and Oklahoma.
Currently, Murphy Oil has a search process underway to identify CFO John W. Eckart’s successor, the El Dorado, Ark.-based company said in a press release.
Kudu #2H reached a 24-hour IP of 1,475 boe/d and 75% liquids on 4,936 ft lateral.
Lime Rock’s $1.8 billion “stalking horse” offer tops a $1.6 billion enterprise valuation by Breitburn’s investment bank.
Although the rate of well completions in Texas is on the rise, the number of DUCs in the state also continued to climb, an indication that producers are still drilling wells faster than they can be completed.
SandRidge Energy ousted its CEO and CFO on Feb. 8 and said it would cut spending, a victory for activist investor Carl Icahn who has railed for months against the U.S. shale producer's board and management.
ExxonMobil said about 900 million boe in its portfolio now qualify as proved reserves under U.S. SEC Guidelines due to the rebound of oil prices in 2017.
California’s plan to deny pipeline permits for transporting oil from new leases off the Pacific Coast is the most forceful step yet by coastal states trying to halt the biggest proposed expansion in decades of federal oil and gas leasing.