Exploration & Production - News

Chevron Seeks Sale Of Giant Azerbaijan Oil Field Stake

Chevron has decided to launch the sale of its stake in Azerbaijan's largest oil field as well as the Baku-Tbilisi-Ceyhan pipeline, the San Ramon, Calif.-based company said in a statement.

December 4, 2018

Some Canadian Producers Push Back As Alberta Orders Oil Cuts

Several oil companies in Canada pushed back on Dec. 3 against Alberta's mandated cuts in crude production, warning about excessive government intervention even as the discount on Canadian crudes narrowed sharply on the curtailment plan.

December 4, 2018

Southwestern Completes Transformation With Close Of Fayetteville Shale Exit

Southwestern Energy closed the sale of its Fayetteville Shale business to Flywheel Energy in a transaction worth more than $2 billion completing its transformation to an Appalachian pure-play E&P.

December 4, 2018

Marketed: BLM Lease Sale Across Permian, San Juan, South Texas, Midcon Regions

The BLM has retained EnergyNet to handle an online oil and gas lease sale covering the Permian Basin, San Juan Basin, South Texas and Midcontinent regions.

December 4, 2018

Murphy Oil Raises Production Outlook Following Petrobras GoM JV Closing

Following the closing the GoM JV with Petrobras, Murphy Oil also raised its full-year capex outlook and expects to use some of the cash flow to accelerate activity in the Eagle Ford.

December 3, 2018

Marketed: Chevron Oklahoma Scoop, Stack, Merge Assets

Chevron retained EnergyNet to divest multiple Midcontinent packages throughout Oklahoma including in the Scoop, Stack and Meramec plays in sealed-bid offerings.

December 3, 2018

US Sept Oil Output Hits 11.5 MMbbl/d, Fourth Straight Month Of Record Highs

U.S. crude oil output hit a new all-time high of 11.5 million barrels per day (MMbbl/d) in September, according to the government on Nov. 30, the latest indicator of a wave of onshore U.S. production that has weighed on global markets.

December 3, 2018

Oil Falls As High Inventories Outweigh Likely OPEC Cuts

The two global oil benchmarks, North Sea Brent and U.S. light crude, have had their weakest month for more than 10 years in November, losing more than 20% as global supply has outstripped demand.

November 30, 2018

Oil Rises As Russia Indicates Its Open To Cuts With OPEC

Oil reversed course and rose as much as 2% on Nov. 29 after industry sources said Russia accepted the need to cut production with OPEC ahead of its meeting next week.

November 29, 2018

EIA: US Oil, Gas Reserves Hit Record Highs In 2017

Crude reserves increased 6.4 billion barrels (Bbbl), or 19.5%, to 39.2 Bbbl at year-end 2017, marginally higher than the previous record of 39 Bbbl set in 1970.

November 29, 2018

Israeli Energy Firm Delek Boosted By Tamar Gas Sales

Delek reported quarterly profit of 323 million shekels (US$87 million), up from 151 million shekels a year earlier, which excluded the sale of part of its stake in the Tamar offshore gas field.

November 29, 2018

Saudi Arabia Wants United Front On Oil Output

Oil producer group OPEC and its allies, led by Russia, meet in Vienna next week against the backdrop of concerns over a slowing global economy and rising oil supplies from the United States, which is not involved in an existing agreement to restrain output.

November 28, 2018

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