World Oil (WO) – Sage Natural Resources LLC recently completed its 2022 Barnett Drilling program, successfully drilling 30 horizontal wells targeting the Barnett shale formation in North Texas. The 30-well Barnett shale drilling program totaled 96 miles drilled. The average lateral length was approximately 8,200 feet per well, with average spud to rig release under 13 days. On average, each
World Oil (WO) – ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals. The company expects Uaru, the fifth project on Guyana’s offshore Stabroek block, to add approximately 250,000 bbl of daily capacity after a targeted startup in 2026. The $12.7 billion Uaru project plans to include up to 10
Oil Price The Permian basin has not yet seen peak oil production, according to Occidental’s chief executive Vicki Hollub. The executive believes that growth in the play’s production rates will even offset declines in other shale basins across the United States. According to the Energy Information Administration, the Permian will produce 5.622 million bpd of crude oil this month, up from 5.596
World Oil (Bloomberg) – Diamondback Energy Inc. is looking to sell non-core assets in the western Permian Basin as the oil producer looks to cash in on an increasingly active deal market in U.S. shale. The company is working with a financial adviser to seek a buyer for assets around Pecos County, Texas according to people familiar with the
World Oil (Bloomberg) – A federal judge in Alaska denied a bid by environmentalists and an indigenous group to block ConocoPhillips from opening a gravel mine and conducting other work at its $8 billion Willow oil project in the state. The order Monday from U.S. District Judge Sharon Gleason gives ConocoPhillips a green light to continue initial operations during a
Oil and Gas 360 HOUSTON, March 23, 2023 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) and the other Zama Unit Holders Wintershall Dea, Harbour Energy plc (“Harbour”) and Petróleos Mexicanos (“Pemex”), today announced that on March 23, 2023, Pemex, as operator, submitted the Zama Unit Development Plan (“UDP”) to Mexico’s National Commission of Hydrocarbons (“CNH”) for formal approval. An
World Oil (WO) – Eni made a new oil discovery on the Yatzil exploration prospect in Block 7, located in the mid-deep water of the Cuenca Salina in the Sureste Basin, offshore Mexico. According to preliminary estimates, the new finding may contain around 200 MMboe in place. Yatzil-1 EXP is the second commitment well of Block 7 and the eight
BOE Report HOUSTON – ConocoPhillips (NYSE: COP) welcomes the Department of the Interior’s Record of Decision (ROD) on the Willow project, adopting the three core pads detailed in the Bureau of Land Management (BLM) preferred Alternative E. ConocoPhillips Alaska completed extensive preparations with key contractors and expects to immediately initiate gravel road construction activities. The company continues to review the ROD and will
World Oil (Bloomberg) — In a windswept desert southwest of Buenos Aires, black steel tubes the length of school buses extend in a line toward the horizon. The scene is the clearest sign yet that one of the world’s biggest shale plays finally has a shot at living up to its promise. Workers in the geological formation known as
World Oil (WO) — The following statement can be attributed to Permian Strategic Partnership (PSP) Chairman Secretary Don Evans: “The Permian Strategic Partnership applauds the decision of the Texas Transportation Commission, which oversees the Texas Department of Transportation, to increase the funding distribution to the Texas Energy Sector by over $1 billion in the proposed 2024 Unified Transportation
World Oil (WO) – Quantum Energy Partners and the management of Bison Oil & Gas formed Bison Oil & Gas Partners IV, LLC (“Bison IV”) with equity capital commitments in excess of $500 million. Building on the success of prior Bison entities, Bison IV will focus on the acquisition and responsible development of oil and natural gas assets
World Oil (Bloomberg) – Alaska’s senators sharply condemned any potential Biden administration move to authorize ConocoPhillips’ $8 billion Willow oil project with restrictions so onerous it wouldn’t be viable, warning that would be seen as a rejection — and an unacceptable blow to residents across the nation’s largest state. “They damn well better not kill the project,” Republican Lisa Murkowski
