World Oil (Bloomberg) — Eni Spa announced a new gas discovery in the East Mediterranean Sea in offshore Egypt, according to a company statement on Jan 15. The discovery is “significant,” but the amount wasn’t disclosed. The Italian energy giant said the gas discovery is in the 1,800 km2 (695 miles2) Nargis offshore area and can be developed leveraging the
Oil and Gas 360 HOUSTON, Jan. 3, 2023 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced that the Company’s Lime Rock and Venice prospects both successfully discovered commercial quantities of oil and natural gas during sequential drilling operations in the fourth quarter of 2022. Talos holds a 60% working interest in the two deepwater discoveries,
Nasdaq ANELO, Argentina – Argentina’s booming shale production in Vaca Muerta, a formation that rivals the United States’ Permian Basin, is at risk of running out of road as infrastructure to handle the oil and gas nears capacity, threatening to put the brakes on rapid growth. The government is now racing to build out infrastructure: a major new gas pipeline
World Oil (WO) — U.S. Energy Development Corporation, an exploration and production (E&P) company focused on the development of energy projects throughout North America, completed its Rio Hondo 3-Well pad this quarter. U.S Energy worked alongside Midland-based Atlantic Energy Partners, LLC to identify and complete the project. Each of the three Wolfcamp B horizontals in western Ward County had approximately
World Oil (Bloomberg) — With over two-thirds of the Permian’s premium land now drilled, producers are seeking more permits than ever to burrow beneath Midland and its 130,000 residents, according to BMO Capital Markets. Analysts say the Permian could reach a production plateau within five years. Producers in the Permian’s two main zones are pumping less oil per foot
Oil and Gas 360 Three Crown Petroleum spud the high-potential Patterson 3H, a 1.5 mile horizontal well targeting the Niobrara formation on November 24, 2022. The well located on Three Crown’s Falcon Prospect in the prolific Powder River Basin in Converse County, Wyoming. Three Crown has already reached a drilling depth of 5,265 feet. The Patterson 3H
Oil Price Over the last year, the Eagle Ford Shale play has seen a lot of renewed interest in investment as well as M&A activity. Just this November, Marathon Oil Company, (NYSE:MRO) announced in their quarterly earnings call they had acquired the Eagle Ford assets of privately held Ensign Natural Resources. For a sales price of ~$3.0 bn in a
World Oil (WO) — Zephyr Energy Plc, the Rocky Mountain oil and gas company focused on responsible resource development and carbon-neutral operations, announce on Monday that drilling operations have commenced on the State 36-2 LNW-CC well at its flagship project in the Paradox Basin, Utah. “The commencement of drilling of the State 36-2 LNW-CC well is another landmark moment for the
Oil and Gas 360 MIDLAND, Texas, Nov. 16, 2022 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has entered into a definitive purchase agreement to acquire all leasehold interest and related assets of Lario Permian, LLC, a wholly owned subsidiary of Lario Oil & Gas Company, and certain associated sellers (collectively “Lario”) in exchange for 4.18 million shares
Oil and Gas 360 Three Crown has established a 240.387 gross/205.5 net acre 1.5 mile horizontal drilling prospect in the prolific Power River Basin in Converse County, WY that is surrounded by established oil production in the Shannon, Niobrara and Frontier formations. The Falcon prospect is flanked by established operators including WRC Energy (formerly Wold Oil Properties), Continental Resources, Impact
Oil Price Two Big Oil majors have said they expect oil production in the Permian to rise by less than they had initially planned this year, suggesting industry problems are indeed serious enough to hold back production growth in the most prolific shale play in the United States. In their third-quarter reports, Chevron and Exxon both revised down their planned output from the
Oil Price U.S. oil and gas major Exxon Mobil (NYSE: XOM) has announced on Wednesday that it has made two more discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, bringing discoveries on the block to more than 30 since 2015. Exxon revealed that the Sailfin-1 well was drilled in 4,616 feet of water and encountered 312 feet of
