Buccaneer Energy has selected a drilling rig for the Allar #1 development well in the Pine Mills Field, Texas, with drilling set to begin in late October. The company plans to produce oil at up to 124 bopd and use associated gas from the Fouke area to power a future Bitcoin mining operation. SourceContinue Reading
ExxonMobil reported Q3 2025 earnings of $7.5 billion and record upstream production of 4.8 million boed, led by new output from Guyana’s Yellowtail project and record volumes in the Permian basin. The company also took FID on Hammerhead and expanded its Permian acreage with a Sinochem acquisition. SourceContinue Reading
Chevron’s third-quarter earnings topped analyst forecasts as the company’s $53 billion Hess acquisition boosted global oil production and cash flow. Output rose 21% to 4.1 MMboed, supported by Hess’ stake in Guyana’s Stabroek Block. SourceContinue Reading
Sunda Energy is advancing preparations for the Chuditch-2 appraisal well offshore Timor-Leste, targeting drilling in early 2026, while expanding its Southeast Asian upstream portfolio with two new offshore licenses in the Philippines. SourceContinue Reading
North Sea crude exports are set to reach their highest level since 2017, with December loadings forecast at 2.1 million bpd. Rising output from Johan Castberg and other key fields adds to a global oil supply glut expected to pressure prices into 2026. SourceContinue Reading
SLB OneSubsea has been awarded two EPC contracts by PTTEP to deliver subsea production systems for Malaysia’s deepwater Alum, Bemban, Permai, and Kikeh fields, extending the life of key offshore assets and strengthening regional energy security. SourceContinue Reading
DeepOcean has been selected to deliver a major subsea decommissioning project offshore Western Australia, including the suspension of subsea trees, removal of flowlines, umbilicals, and a disconnectable turret-mooring buoy. The 2026 campaign will be managed from Perth, leveraging Shelf Subsea’s regional expertise. SourceContinue Reading
bp is advancing appraisal planning for its significant Bumerangue hydrocarbon discovery in the pre-salt Santos basin offshore Brazil, confirming a 1,000-meter gross hydrocarbon column with high-quality oil and liquids-rich gas condensate. The company expects appraisal activities to begin in early 2027. SourceContinue Reading
Shell plc delivered adjusted earnings of $5.4 billion and cash flow from operations of $12.2 billion in Q3 2025, supported by record output from deepwater assets in Brazil and the Gulf of America and robust LNG trading results. SourceContinue Reading
An independent petroleum reserves and resources evaluation has confirmed world-class hydrocarbon potential in Greenland’s Jameson Land basin, identifying more than 13 billion barrels of prospective recoverable oil resources across 58 prospects. SourceContinue Reading
