Exploration & Production - News

US Sets Largest Offshore Oil, Gas Lease Auction For March

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.

February 16, 2018

Spending Bill Expands Carbon Tax Credit, Boosting Oil Producers

Budget deal triples the tax credit for injecting carbon dioxide to bolster crude output.

February 16, 2018

Canada’s Cenovus Energy Posts Jump In Quarterly Profit

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.

February 15, 2018

Encana's Fourth-Quarter Profit Beats, Production Rises

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.

February 15, 2018

Marathon Oil Profit Beats Forecasts On Rising Crude, Cost Cuts

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.

February 15, 2018

Murphy Oil CFO John Eckart Announces Intention To Retire

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.

February 13, 2018

Lilis Energy Reports IP Results From Delaware Basin Well

Kudu #2H reached a 24-hour IP of 1,475 boe/d and 75% liquids on 4,936 ft lateral.

February 13, 2018

Bankrupt Breitburn Rebuffs Lime Rock Resources' $1.8 Billion Bid

Lime Rock’s $1.8 billion “stalking horse” offer tops a $1.6 billion enterprise valuation by Breitburn’s investment bank.

February 13, 2018

Texas Drilling Permits, Completions Rise As Crude Prices Firm

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.

February 12, 2018

SandRidge Energy Ousts CEO, CFO After Push From Icahn

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.

February 9, 2018

ExxonMobil's Reserves Jump 19% On US Shale, UAE, Guyana Growth

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.

February 8, 2018

California Plans To Block Crude Oil From Trump Offshore Drilling Plan

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.

February 8, 2018