The decommissioning costs of oil and gas firms which have recently gone bankrupt or are in financial distress is near $15billion, according to new analysis from Boston Consulting Group (BCG).
Westwood Global Energy reports that as of June 28 there was one exploration well and one appraisal well active in the UK. Completions to date in 2021 are one appraisal well at 22/26d-3 Glengorm South and one exploration well at 22/6c-B4Z Bacchus South.
Oil firm Apache has been fined £400,000 over safety failings which led to a gas leak on one of its North Sea platforms.
Professor John Paterson, chair in Law at Aberdeen University, gives his analysis of the Exxon vs Apache High Court case on decommissioning costs.
Exxon Mobil has lost out in a High Court battle against Apache with “far reaching implications” for North Sea decommissioning.
North Sea oil and gas operators have helped to develop a new platform for streamlining the tendering process.
Exploration and production firm Apache swung back into the black in the first quarter despite suffering a 22% drop in UK North Sea production levels.
Westwood Global Energy reports that as of March 31 there was one exploration well and one appraisal well active in the UK, with no change since the end of December.
Bristow has lost its contract with Apache North Sea to rival helicopter operator CHC.
Apache and Total have halted drilling on the Keskesi East-1 discovery well off Suriname due to “substantial pressure increases”.
Ancala Midstream has won a multi-million pound deal to transport gas from the prolific Edvard Grieg Area in Norway for processing in Scotland.
Transparency in reporting is producing results, with most operators showing year on year improvements towards gender balance. We encourage all employers to publish their data without delay, and use it to drive their action plans. With metrics like the median pay gap (-3% to 46%), percentage of women at the top (5% to 35%) and percentage of women overall (11% to 41%) varying massively between organisations, it’s clear balance is attainable within our industry but it takes sustained determination at all levels of leadership.
Bosses at Apache Corporation hailed the firm’s response to the Covid pandemic and price crash despite pre-tax losses widening to £3.4 billion in 2020 from £2.1bn the previous year.
Westwood Global Energy reports that as of February 24 there was one exploration well and one appraisal well active in the UK, with no change since the end of December.
Apache has announced the appointment of oil and gas veteran Lamar McKay to its board of directors.
The Guyana-Suriname basin is helping drive a “surge” of oil rig demand in South America, bucking the global trend of depressed activity, according to new analysis.
More than a dozen workers are in quarantine after a crew member on the Premier Oil Balmoral platform tested positive for Covid-19.
Apache has confirmed that a pair of workers have been removed from the Forties Bravo installation due to Covid-19.
Total and Apache have announced a fourth discovery at Block 58, offshore Suriname.
Bosses at Apache have announce plans to achieve greater "administrative and financial flexibility" by restructuring the Houston-headquartered oil company.
Westwood Global Energy reports that as of December 28 there was one exploration well and one appraisal well active in the UK.
Westwood Global Energy reports that as of December 2 there was one exploration well active in the UK. So far in 2020, four exploration wells have completed. At the time of writing, the first appraisal well of the year was preparing to spud.
North Sea firms are on track to produce roughly the same amount of oil and gas in 2020 as they did last year, despite the Covid-19 pandemic throwing up huge challenges, a new report reveals.
Archer has predicted an uptick in activity in the fourth quarter, but this is unlikely to prevent a double-digit percentage drop in annual revenues for the drilling services firm.
North Sea oil firm Apache was in the black in the third quarter of 2020 as its cost-saving initiatives outstripped expectations.