Westwood Global Energy reports that as of September 2 there were two exploration wells active in the UK, with one in the central North Sea and one in the northern North Sea. So far in 2020, three exploration wells have completed. There has been no appraisal drilling yet this year.
Drilling services firm Archer made pre-tax profits of £2.3 million in the first half of 2020 despite being hit hard by the Covid-19 pandemic and low oil price.
Safety concerns have been raised after figures revealed a 55-tonne gas leak at the Apache Beryl Alpha platform in the North Sea.
A High Court judge has sided with US oil firm Apache in its row over North Sea pipeline tariffs with Ineos.
Apache recorded pre-tax losses of £3.8 billion in the first half of 2020 as the firm creaked under the weight of lower oil and gas prices.
New plans to extend the life of a UK North Sea field were last night hailed as a potential boost for the oil and gas industry at a difficult time.
Px Group, which operates the gas processing plant at St Fergus, near Peterhead, has hired a North Sea veteran to spearhead its push into the upstream oil sector.
US energy firm Apache took a £3.6billion pre-tax loss in the first quarter of the year as the oil price crash hit the value of its assets.
While the immediate priority is survival, senior management of exploration and production (E&P) companies will also be looking to the future, seeking ways to access the capital required to bring undeveloped oil and gas discoveries into production and lower carbon dioxide emissions.
Drilling contractor Archer has said a newly-completed debt refinancing will help it withstand a “meaningful drop in activity”.
Drilling contractor Archer is understood to have laid off another 60 offshore workers following a client’s decision to cut activity levels.
Oil and gas firm Apache has taken a step forward in its mission to develop the Gair field in the northern North Sea.
Total and Apache have made a second discovery offshore Suriname, at Block 58’s Sapakara West-1 well.
Apache calls in bank guarantees of £530m to cover North Sea decommissioning after S&P downgrades credit rating
Apache has confirmed it will call in letters of credit of £531million to guarantee it will pay off decommissioning obligations in the UK North Sea.
Apache is the latest in a growing list operators to confirm it is taking measures to prevent the spread of the coronavirus in the North Sea.
US oil firm Apache has shed some light on an ongoing organisational “redesign” intended to reduce costs.
Apache suffered pre-tax losses of £2.3 billion last year after booking hefty impairments on some of its US assets.
Diamond Offshore has announced a £39million extension with Apache in the UK North Sea as part of £480million in new work secured in 2019.
A boss at Neptune Energy said 2020 was shaping up to be the private-equity-backed firm’s busiest year in the UK North Sea as activity ramps up around key projects.
US firm Apache has taken legal action against petrochemicals giant Ineos in a row over the Forties pipeline in the North Sea.
Apache Corporation is closing its San Antonio office and eliminating more than 270 jobs as part of a reorganization designed to cut costs.
Apache and Total have announced a “significant oil discovery” off the South American nation of Suriname.
Westwood Global Energy reports that as of December 31 there were two active exploration wells drilling in the UK.
Total announced its entry into Suriname with a 50% interest in a block held by Apache off the Southern American nation’s coast.
Apache and partner Chrysaor have started drilling an exploration well in the UK North Sea.