Forbes How bad is the situation for the oil and gas industry in the U.S. right now? Let’s take a look at some compelling recent data points: On Friday, ExxonMobil posted its first quarterly loss since 1999. On Thursday, Royal Dutch Shell cut its dividend for the first time since the 1940s. In it’s most recent weekly rig county update, Enverus reports that “As of April 29, the
Oil and Gas 360 Oil and Gas 360 Publishers Note: GeoPark is presenting at EnerCom Dallas The Energy Investment Conference on Wednesday, Febuary 12, 2020 at 10:05am (MST). Please sign up to attend, all of our presentations will be streamed live. If you can’t join us in Dallas, watch Jim and Stacy present the GeoPark story on the EnerCom Dallas
Reuters MEXICO CITY – Mexican state oil company Petroleos Mexicanos would like to run the operations in a major offshore oil area discovered by a consortium of private companies when development eventually begins, the company’s chief executive said on Wednesday. Chief Executive Officer Octavio Romero told a regular government news conference that the company known as Pemex believes most of
Houston Chronicle As most of the oil industry cuts back on spending, Hess Corp. said Tuesday it will allocate more money this year to its growth in the tiny South American country Guyana. After the Exxon Mobil-led partnership with Hess in Guyana began producing oil in December, Exxon and Hess plan to dedicate more dollars to ramping up oil output
Reuters GEORGETOWN – Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in an interview. The government is entitled to a portion of the light, sweet crude that a consortium led by Exxon
Houston Chronicle The growing threat of climate change and the evolving transition toward cleaner energy alternatives are threatening spending on traditional oil and gas exploration worldwide, according to a new report. The largest energy companies are reducing exploration budgets and facing more pressure from shareholders to conduct more exploratory drilling around the world, even amid growing reserves of oil and
Houston Chronicle Exxon Mobil led the way with new finds off the coasts of Guyana and Cyprus as global oil and gas discoveries in 2019 hit a four-year high, according to a new report. Energy companies discovered about 12.2 billion barrels of oil equivalent in 2019 — the highest since nearly 20 billion barrels in 2015 — from more than
(BUSINESS WIRE) ExxonMobil (NYSE:XOM) said today it made an oil discovery offshore Guyana at the Mako-1 well southeast of the Liza field, marking the 15th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block. Mako-1 well is located southeast of the Liza field on
LNG World News BP’s recent three-well drilling campaign offshore Mauritania and Senegal has further confirmed the world-class scale of the gas resource in the region. BP said on Monday that the three appraisal wells drilled this year, GTA-1, Yakaar-2, and Orca-1, targeted a total of nine hydrocarbon-bearing zones. The wells encountered gas in high-quality reservoirs in all nine zones. The
EIA New maps and geologic information for the Bone Spring play in the Delaware Basin from EIA. The U.S. Energy Information Administration (EIA) has released new maps and geologic information for the Bone Spring play in the Delaware Basin, which spans from southeastern New Mexico to western Texas. The updated information includes formation geology, deposition history, and regional tectonic features. The Delaware Basin
Reuters OSLO – Norway’s Equinor plans to drill 30-40 oil and gas exploration wells globally in 2020, similar this year, with Brazil being a “hotspot” of its international efforts, the company’s exploration head said on Tuesday. The company will drill about 20-30 exploration wells on the Norwegian continental shelf, focusing on the North Sea, plus wells at the Johan Castberg
