E&P
Hess, Exxon Make New Oil Discovery in Guyana’s Stabroek Block
The discovery on the group's Stabroek Block is the latest of more than 30 in the South American country's offshore waters since 2015. Hess holds a 30% stake in the consortium and said the discovery may help justify a new oil project.
Dutch Government Confirms Plan to Halt Gas Production in Groningen
The Dutch government said on Tuesday that it will invest $24.24 billion in the earthquake-stricken Groningen region while confirming plans to halt gas production there no later than 2024.
Chevron Seeks Drilling Ship to Expand East Med Gas Search
Chevron is seeking a drilling ship to explore for natural gas off Cyprus, Egypt and Israel as the U.S. energy major looks to meet growing demand in the region and Europe, two sources told Reuters.
US Oil Activity in Colorado, Wyoming Slips, Further Slowing Ahead
Oil and gas activity in the U.S. Midwest and Mountain West states declined in the first quarter and is expected to continue to slow, according to a survey released on Friday by the Federal Reserve Bank of Kansas City.
Libya's Mellitah Oil Reopens Gas Well in Mediterranean
Libya's National Oil Corp. announced on Saturday the reopening of a gas well operated by Mellitah Oil and Gas Company on its Sabratha Platform in the Mediterranean Sea.
WSJ: Exxon Eyes Potential Purchase of Shale Driller Pioneer
Exxon Mobil Corp. has held preliminary talks with Pioneer Natural Resources Co. about a possible acquisition of the U.S. shale oil producer, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Sources: Baghdad Agrees to 30% Stake in TotalEnergies $27 Billion Iraq Energy Project
Baghdad has reached an agreement to hold a 30% stake in TotalEnergies long-delayed $27 billion Iraq project, three sources told Reuters on Tuesday, reviving a deal that Baghdad hopes could lure back foreign investment into the battered country which craves stability.
Sources: Ovintiv Nears $4 Billion Deal to Acquire EnCap’s Permian Oil, Gas Assets
Ovintiv Inc. is nearing a deal to acquire oil exploration and production assets in the Permian Basin that are controlled by private equity firm EnCap Investments for about $4 billion including debt, people familiar with the matter said on Sunday.
Fed Survey: Activity in Top US Oil Fields Stall, Outlook Sours
U.S. oil and gas activity stalled in the first quarter as production gains slowed and drillers' outlooks turned negative, according to a survey released on Wednesday by the Federal Reserve Bank of Dallas.
QatarEnergy Picks Up Stakes from Exxon in Canadian Offshore Blocks
Qatar's state-owned energy company on Wednesday signed a deal to acquire from Exxon Mobil stakes in two Canadian offshore explorations block, the latest in the Gulf state's efforts to expand its global oil and gas portfolio.
Lukoil-backed Congo Project to Begin LNG Output in December
Lukoil Vice President Ivan Romanovsky said the initiative will produce around 600,000 tonnes of LNG per year, and that Lukoil plans to boost total LNG output at the Marine XII oil and gas project in the Congo to 3 million tonnes by the end of 2025.
EIA: US Shale Production Set to Rise to Highest Since December 2019 in April
Shale production is expected to rise by 68,000 barrels daily — the slimmest rise since December 2022 — to 9.21 million bbl/d, the EIA data showed. Crude output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to rise to 5.62 million bbl/d.
US LNG Exports Flat Despite Freeport LNG Partial Restart
U.S. exports of LNG were flat last month at 6.84 million tonnes, shipping data showed on Thursday, even as a long-idled Texas processing facility began shipping the fuel during an ongoing restart.
Pioneer Natural Resources Denies Report of Acquisition of Range Resources
Oil and gas explorer Pioneer Natural Resources Co. said on Friday that it was not pursuing any business combinations, after Bloomberg News reported that the oil and gas explorer was considering an acquisition of smaller U.S. rival Range Resources Corp.
Oman's Abraj Signs Oil Drilling, Extraction Deal with Chevron, Kuwait Gulf Oil Company
Oman's Abraj Energy Services said on Saturday it had signed a five-year 'strategic partnership deal' with Kuwait Gulf Oil Company and Saudi Arabian Chevron to extract and drill for oil in Kuwait.
Trinidad to Begin Negotiations for Gas Deal with Venezuela in March
A deal would help revive the nation's gas production, which contributes a large part of its export revenue and has been in decline. The joint venture could supply gas to Trinidad's liquefied natural gas and petrochemical industry.
Diamondback Energy Targets At Least $1 Billion in Non-Core Asset Sale; Beats Profit Estimates
U.S. oil and gas producer Diamondback Energy Inc said on Wednesday it was increasing its non-core asset sale target to at least $1 billion by the end of this year from $500 million. Additionally, the shale producer announced it beat Wall Street expectations for fourth-quarter profit, as tighter energy supplies following Russia's invasion of Ukraine boosted crude prices.
Expanding Gas Infrastructure Presents Alternative to Permian Constraints
(P&GJ) — Oil is still serious business in the Bakken Shale, but when it comes to midstream, the money is on natural gas. As in the Permian Basin, oil production in the Williston has a high rate of associated natural gas. But the Bakken’s residual gas is rich in natural gas liquids (NGLs), and that requires infrastructure generally more akin to North Texas’ Barnett Shale than West Texas’ Permian.
Chesapeake Energy to Reduce Drilling on Lower Natural Gas Prices
U.S. natural gas producer Chesapeake Energy on Wednesday said it would pull back on drilling and completing wells this year as natural gas prices fell to a quarter of what they were last summer.
US Official Says Russia's Crude Output Cut Signals Unsold Oil
Russia's decision to cut crude oil production by 500,000 barrels per day reflects its inability to sell all of its oil, Ben Harris, a U.S. Treasury Department Assistant Secretary, said on Thursday.
Tellurian Taps LNG Demand Surge to Deliver Fourfold Jump in Production
Tellurian Inc. on Wednesday reported a fourfold increase in quarterly natural gas production to meet a surge in demand triggered by Western sanctions against Russia over the Ukraine invasion.
US LNG Producers Poised to Leapfrog Rivals with Three New Projects
Projects best positioned to move ahead include Sempra Energy's Port Arthur plant in Texas, Energy Transfer LP's Lake Charles in Louisiana and NextDecade Corp.'s Rio Grande in Texas. They have all or most of the long-term LNG sales agreements needed to convince bank's that the projects are ready for debt financing, according to Reuters analysts.
Canada's Suncor Mulling Options to Replace Supply from Key Oil Sands Mine
Canada's Suncor Energy on Wednesday said it is weighing options for replacing around 200,000 barrels per day of raw bitumen supply from its largest oil sands mine, which is set to run out by the mid-2030s.
US Gas Producers Skimped on Price Hedges and Now Face A Reckoning
A rout in natural gas prices will hurt first-quarter earnings and cash flows at gas producers as hedges — the industry's version of price insurance — were inadequate to offset the expected losses, analysts and industry experts said.
Philippine Malampaya Gas Field Operator Seeks 15-Year Contract Extension
Prime Infra Holdings Inc., the new operator of the Philippines' Malampaya natural gas field, is seeking a 15-year extension of the project contract to be able to explore for additional supply around the reservoir, its chief executive said on Wednesday.
Indian Energy Company ONGC Videsh Eyes Oil, Gas 'Hot Spots' in Africa, Latin America
ONGC Videsh is looking for exploration and production investment opportunities in Africa and Latin America, such as in Ghana and Surinam. OVL currently has a stake in 32 oil and gas projects in 15 countries, spanning projects in various phases, including exploration, development, production and pipelines.
IEA: China's Oil Demand Bounce May Push Producers to Reconsider Output
Oil producers may have to reconsider their output policies following a demand recovery in China, the world's second-largest oil consumer, the International Energy Agency's Executive Director Fatih Birol said on Sunday.
Woodside, Partners to Pick Plan for Timor Sea Sunrise Gas Project Soon
Woodside Energy Group and its partners on Monday formally committed to working rapidly to pick the best option for developing the Greater Sunrise natural gas field, factoring in for the first time the potential benefits for East Timor.
Iran Signs $900 Million Deal to Develop Offshore Gas Field
Under the contract, IOEC is to launch production of 28 million cubic meters per day of gas in 14 months, which is to be sent to installations in Assalouyeh on Iran's Gulf coast via a 210-km (130-mile) undersea pipeline.
Biden Backs Scaled-Down Version of ConocoPhillips Alaska Oil Project
President Joe Biden's administration said on Wednesday it would support a scaled-back version of ConocoPhillips' planned $6 billion Willow oil and gas drilling project in Alaska but has not yet made a final decision on the contentious proposal.
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- Enbridge Adds Turboexpanders at Pipeline Sites to Power Data Centers in Canada, Pennsylvania
- Great Basin Gas Expansion Draws Strong Shipper Demand in Northern Nevada
- Cheniere Seeks FERC Approval to Expand Sabine Pass LNG Facility
- Heath Consultants Exits Locate Business to Expand Methane Leak Detection Portfolio
