Ovintiv’s operations in the Central basin of Utah involves drilling in about 2,600 feet of oil saturated reservoir rock, according to its website. The asset could attract interest from private equity-backed energy groups, the people said. SourceContinue Reading
Oil demand by 2050 will be “well north” of 100 MMbpd and possibly exceed 110 MMbpd, CEO Greg Ebel said Tuesday in an interview at Bloomberg’s New York headquarters. That contrasts with an International Energy Agency projection that demand will decline to 97 MMbpd by mid-century. SourceContinue Reading
Global oil markets are poised to swing from a deficit to a surplus next quarter should OPEC+ proceed with provisional plans to bring back idled production starting in October, data last week from the International Energy Agency showed. SourceContinue Reading
Production from the Norwegian Continental Shelf will peak in 2025, the directorate said in a report published Wednesday. How quickly production falls will depend on whether companies can tap into resources around existing infrastructure using new technologies, as well as in less familiar regions like the Barents Sea in the far country’s far North. SourceContinue Reading
OceanMight announced the sail-away of three topsides and three substructures for the MLNG FaS project. The development includes the F22,F27, and Selasih gas fields offshore Malaysia. SourceContinue Reading
Engineering work for the Kaskida FPU has already begun, with Audubon designing the topside and EXMAR Offshore designing the hull. SourceContinue Reading
The properties up for sale produce over 22,000 boed, with oil making up about 60% of this production. The drilling locations include properties on the Northwest Shelf, the Northern Shelf, and the Central Basin Platform in New Mexico and Texas. SourceContinue Reading
TotalEnergies CEO Patrick Pouyanne — whose company, alongside APA Corporation, is moving to develop deepwater drilling sites that hold close to 700 MMbbl of oil — said Suriname will make a “significant” contribution to the group’s cash flows as oil revenues start flowing in 2028. SourceContinue Reading
The agreement is targeting at least 5 MMtpa of CO2 capture and storage capacity by 2030. Its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modelling, reservoir simulation and containment research while exploring the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity. SourceContinue Reading
Williston operators have executed about 15% more refracs than those in the Eagle Ford. While results vary, EIR finds that average refracs in the Williston produce about 50% of new drill estimated ultimate recovery (EUR), outperforming the Eagle Ford’s roughly 25%. SourceContinue Reading
