Exploration & Production - News

Rep. Goodlatte Presses Administration To Support Anti-OPEC Legislation

Rep. Bob Goodlatte, outgoing chair of the House of Representatives Judiciary Committee, pressed the Justice Department’s Makan Delrahim on Dec. 12 to support legislation that would make it easier for the U.S. government to sue to stop OPEC members from pushing up oil prices.

December 13, 2018

Nigeria Files $1.1 Billion Lawsuit Against Shell, Eni Over Oilfield Deal

The Nigerian government filed a $1.1 billion lawsuit against Shell and Eni in a commercial court in London on Dec. 13 in relation to a 2011 oilfield deal involving block OPL 245.

December 13, 2018

Chrysaor Sets Sights On Chevron's North Sea Assets, Sources Say

Chrysaor has signed up investment banks Jefferies and BMO for the discussions as a deadline for the bids for Chevron's British North Sea oil and gas fields approaches, the four sources said.

December 13, 2018

Hess Sees Oil Output Growing Driven By Bakken, Offshore Guyana Projects

Hess expects oil output to grow more than 10% per year compounded through 2025, citing higher growth opportunities at its Bakken shale and offshore Guyana projects.

December 12, 2018

Marketed: Butkin Oil Operated Conventional Oklahoma Properties

Butkin Oil retained RedOaks Energy Advisors to sell certain operated, conventional oil properties in Carter and Stephens counties, Okla.

December 12, 2018

OPEC Needs To Cut Output By 700,000 bbl/d More For Brent To Hit $70

Oil producer cartel OPEC and its partners will need to keep production lower than their agreed target through 2019 for benchmark Brent crude to come back to $70 a barrel (bbl), oil and gas consultancy Rystad Energy said.

December 12, 2018

OPEC Offsets Iran Oil Loss, Sees Lower 2019 Demand

OPEC said on Dec. 12 it had offset a drop in sanctions-hit Iranian oil exports and lowered the 2019 forecast of demand for its crude, underlining the challenge the producer group faces to prevent a glut even after last week's decision to trim output.

December 12, 2018

DNO Presses On With Faroe Petroleum Takeover Offer Despite Board Rejection

The board of Faroe Petroleum, in which DNO already owns 28%, has said the company was worth substantially more than DNO's takeover bid, first announced on Nov. 26.

December 12, 2018

Total Wins Contracts For Two Offshore Blocks In Mauritania

French energy company Total has strengthened its position in Mauritania by winning contracts for two new exploration blocks deep offshore.

December 12, 2018

Conservation Groups Sue Trump Administration Over Seismic Testing In Atlantic Ocean

Environmental groups opposed to offshore drilling sued the federal government to prevent future seismic tests for oil and gas deposits in Atlantic waters off the U.S. East Coast.

December 11, 2018

Mexico Oil Auctions Scrapped As Leftist Government Flexes Muscles

Mexico’s energy regulator on Dec. 11 canceled two oilfield auctions scheduled for February, after the new leftist government said it would not hand over more resources to private companies until they proved themselves as producers.

December 11, 2018

Marketed: Panther Energy Louisiana Austin Chalk Leasehold

Panther Energy retained Detring Energy Advisors to sell oil and gas leasehold assets located in Vernon and Beauregard Parishes of the Western Louisiana Austin Chalk trend.

December 11, 2018

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