Exploration & Production - News
SandPoint is a San Antonio, Texas-based independent oil and gas company with a management team that has a deep history in the acquisition and development of South Texas assets.
Drillers have been predicting an upturn for more than a year only to disappoint but debt ratings firm Moody’s Investors Services said last month that it believed 2018 could mark the low point for industry earnings.
ConocoPhillips retained EnergyNet to sell operated Permian Basin properties in Ector County, Texas, through a sealed-bid offering.
At his first meeting with foreign oil majors, Mexico's leftist president-elect pushed the companies to prove themselves by quickly pumping oil from recent finds, sources said, but gave no sign of offering up new fields to reverse dwindling output.
Inpex Corp. is this week set to load the first liquefied natural gas (LNG) cargo from its long-delayed Ichthys project in northwestern Australia, sources familiar with the matter said.
Occidental Petroleum Corp. (NYSE:OXY) said on Oct. 15 it will not pursue an extension for the Idd El-Sharghi North Dome (ISND) Field offshore Qatar, which is set to expire in October 2019, the company said in a news release.
Crude oil futures rose on Oct. 15 as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked supply worries, though concerns over the long-term demand outlook dragged on prices.
Britain has asked its climate change experts to advise on whether it should set a date to meet a net zero emissions target, the government said on Oct. 15.
U.S. Gulf of Mexico oil and gas production is returning to near normal levels after Hurricane Michael made landfall on the Florida Panhandle last week, data from an offshore regulator showed on Oct. 13, with oil output off 19% and natural gas production down less than 10%.
The IEA said in its monthly report that the world’s spare oil production capacity was down to 2% of global demand with further falls likely.
Producers in the Gulf of Mexico lost about 1.7 million barrels of oil through Oct. 10 as a result of shut-ins from Hurricane Michael and the figure is expected to rise.
According to the filing, Petrobras, as the Brazilian company is known, will have a 20% stake in the joint venture, and Murphy will have 80%.