More new oil and gas inventory coming from mergers, not exploration
Increasingly more recoverable barrels of oil and gas around the world are coming from corporate mergers and acquisitions, and not from traditional exploration.
exploration
Norway: Five active operations ongoing with busy times in North Sea
Four exploration wells and one appraisal well were active in Norway at the end of September. Three wells were completed and one well spudded in September.
Total to drill Isabella exploration well this month
An exploration well is due to be drilled at the Total-operated Isabella well later this month.
Conventional discoveries reach 70-year low and unlikely to recover, new report says
Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades, and aren't expected to recover, a new report said.
Europa extends Atlantic knowledge into Morocco
Europa Oil & Gas has signed up to explore Morocco’s Inezgane offshore permit, with the aim of hunting Lower Cretaceous fans.
Soco buckles down for Egyptian work
The acquisition of Merlon Petroleum earlier this year has given Soco International a new focus, with new exploration planned in Egypt and neighbouring Israel. As such, the company is planning to change its name, to Pharos Energy.
Most North Sea wells due to spud since 2010
Westwood Global Energy Group reports that as of June 30, one exploration well and three appraisal wells were in progress in the UK. Three wells were spudded and one well was completed in July.
Six exploration wells active at end of July
Westwood Global Energy reports that there were six active exploration wells and one active appraisal well at the end of July. Since the last report, five exploration wells have spudded and six E&A wells have completed on the Norwegian Continental Shelf.
OGA launches 32nd licensing round in bid for exploration bounce back
The Oil and Gas Authority (OGA) has launched the UK’s 32nd offshore licensing round as the industry seeks to restore exploration activity.
Exploration: Oil finds in Greater Edvard Grieg area
Westwood Global Energy reports that there were five active exploration wells and two active appraisal wells as of June 25. Since the last report, six wells have spudded and four have completed.
Explorers in ‘existential crisis’ as energy transition picks up pace, Woodmac says
Explorers are in the grip of an existential crisis as the energy transition gathers pace, an analyst said today.
UK could adopt Norwegian tax system to incentivise exploration
One of the big challenges facing the UKCS is the need to increase the amount of exploration activity – the eight exploration wells drilled in 2018 represented the lowest level of activity since 1965, although there have been some notable recent successes such as the massive Glengorm gas discovery announced by Total in January and the technical success rate over recent years has averaged more than 50%.
Two sides to North Sea exploration coin, analyst says
The UK North Sea’s maturity is a double-edged sword when it comes to exploration, an analyst has said.
Smarter North Sea exploration promises big rewards
When we published our Business Outlook earlier this year, there was clear evidence of the building momentum around exploration.
Renaissance for high-impact exploration in NW Europe, Westwood Global says
North-west Europe is experiencing a renaissance in high-impact exploration, a new report said.
2019 the year exploration got its mojo back, Woodmac says
The global oil and gas exploration sector has got its “mojo” back, a new poll says.
16 exploration well projects completed
Westwood Global Energy reports that there were three active exploration wells at the time of writing(April 30).
Warwick Deep tested in West of Shetlands
Westwood Global Energy reports that at the end of April, three exploration wells were active, with two in the West of Shetlands and one in the Central North Sea.
North Sea regulator will become more robust to spur exploration
The Oil and Gas Authority has pledged to become “increasingly robust” in an effort to revitalise exploration in the North Sea.
‘Long overdue’ recovery in global exploration, Woodmac says
After a difficult few years, the exploration sector is back in the black – and keen to stay there. New analysis from Wood Mackenzie shows that explorers’ success in 2018 reflects a disciplined approach that’s set to continue this year.
UK North Sea exploration well spudded
Drilling has got under way on the Rowallan exploration well in the central North Sea, project partners said today.
Updated: Exploration fears persist despite ‘encouraging’ UK licensing round
The UK oil industry’s regulator said today that it was “encouraged” by the response to the latest North Sea frontier licensing round.
Experts call for more realistic UK oil exploration ambitions
Just over a fifth of oil produced over the last decade in the UK has been replaced through exploration, a new report said.
Neptune appoints new head of exploration from Aker BP
North Sea oil firm Neptune Energy has appointed a new head of exploration.
Time is right for oil companies to explore, Westwood Global says
A combination of higher crude prices, lower costs and less competition means the time is right for oil firms to go exploring, a new report said.