ExxonMobil’s Bulletwood-1 well offshore Guyana found reservoirs but no commercial hydrocarbons.
As expected, COVID wrought havoc with earnings, leaving ExxonMobil with an enterprise-wide return on capital employed of minus 9.5%. But the real story was not in the income statement; it was the estimate of oil reserves.
Oil Search will start a 15% selldown process for its proposed 80,000 barrels of oil per day Pikka low emissions oil project in Alaska by April. Phase 1 of Pikka is expected to cost about $3 billion and produce oil at a break-even cost of supply less than $40 per barrel Brent, inclusive of a 10% return, reckons the Australian-based company.
Investments by the world’s NOCs are incompatible with limiting climate change, according to new research published by the Natural Resource Governance Institute (NRGI).
Maurel et Prom has appointed John Anis as the chairman of the board, to replace Aussie Gautama.
French energy giant Total has confirmed the award to Maersk Drilling of contracts worth $100 million for its exploration and appraisal campaign in Suriname's Block 58.
Total and Apache have announced a fourth discovery at Block 58, offshore Suriname.
London-listed oil explorer Bahamas Petroleum Company (BPC) said today that drilling of the Perseverance well had begun.
ABIS Energy is passionate about Guyana. We have been engaged with the Guyana economy for the past 4 years and foresee a bright future.
Fugro has clinched a contract with Malaysian oil firm Petronas for positioning services for an exploration programme in the Guyana-Suriname Basin.
Guyana is the world’s most exciting frontier oil and gas exploration area. There’s a lot of oil, it’s good quality and it’s relatively cheap to produce. It has attracted a host of major players, including Hess, CNOOC, Total, Repsol, Qatar Petroleum, Tullow and, above all, ExxonMobil.
Petronas has made a first discovery offshore Suriname, in Block 52, at the Sloanea-1 exploration well.
Total has picked Maersk Drilling to supply two rigs for an exploration and appraisal project off Suriname as part of a deal worth around $100 million.
Independent exploration and production (E&P) firms that fail to adjust to the energy transition face extinction before 2050, an analyst said today.
The Tanager 1 well is a non-commercial discovery, on a standalone basis.
North Sea oil firm Apache was in the black in the third quarter of 2020 as its cost-saving initiatives outstripped expectations.
Oil firm i3 Energy is in talks over a potential farm out of stakes in its Serenity discovery in the outer Moray Firth.
Total has no clear view on prices in 2021 and is taking a cautious stance on spending plans, the company’s CFO Jean-Pierre Sbraire said after the company published its third quarter results.
Stena Drilling has struck a deal with CNOOC International for a one-well job off Newfoundland, Canada.
Total remains committed to developing hydrocarbon resources, but the cost must be sufficiently low to survive in a world of lower prices, the company’s chairman and CEO Patrick Pouyanné has said.