exploration

North Sea

Slim pickings for UK oil and gas drilling

Westwood Global Energy reports that as of May 27 there were no exploration and appraisal wells active in the UK. In light of the Covid-19 pandemic and oil price crash, there have been a large number of E&A wells deferred to 2021.

Oil & Gas

Business case for exploration still exists, Westwood Global says

Confidence had returned to global exploration with improved performance and the emergence of several new multi-billion barrel plays.  The confidence carried over into 2020 but has evaporated in the face of the Covid-19 crisis and the collapse in oil prices.  Short term plans are in a state of flux and exploration strategy is being reset again. 

North Sea

Wells deferred until 2021 after price crash due to coronavirus

Westwood Global Energy reports that as of April 28 there were no exploration and appraisal (E&A) wells active in the UK. In light of the Covid-19 pandemic and subsequent oil price crash, there has been a large number of E&A wells deferred from 2020 to 2021.