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Oil discovery at the Goddo prospect, on the Utsira High, Norwegian North Sea

18 hours ago DieselGasoil Comments Off on Oil discovery at the Goddo prospect, on the Utsira High, Norwegian North Sea
Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has made an oil discovery at exploration well 16/5-8s, targeting the Goddo prospect in PL815 approximately 14 km South of the Edvard Grieg field in the Norwegian North Sea. The main objective of the well was to prove oil Read More

W&T believes still sizable upside left in US Gulf of Mexico Mahogany Field

6 days ago DieselGasoil Comments Off on W&T believes still sizable upside left in US Gulf of Mexico Mahogany Field
Denver — Sees 100 million barrels of additional reserves Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Field production is currently 15,500 boe/d Will close soon on ExxonMobil’s Mobile Bay assets Pure-play US Gulf of Mexico operator W&T Offshore believes it has a lot more proved reserves at its Read More

Exclusive: Exxon eyes UK North Sea exit after 50-year presence – sources

6 days ago DieselGasoil Comments Off on Exclusive: Exxon eyes UK North Sea exit after 50-year presence – sources
LONDON (Reuters) – Exxon Mobil (XOM.N) is considering an exit from the British North Sea after more than 50 years in the oil and gas basin as it focuses on U.S. shale production and new projects. FILE PHOTO: Logos of ExxonMobil are seen in its booth at Gastech, the world’s biggest expo for the gas Read More

U.S. Oil Giants Exxon, Chevron get boost from tax cut in Canada

2 weeks ago DieselGasoil Comments Off on U.S. Oil Giants Exxon, Chevron get boost from tax cut in Canada
8/2/2019 (Bloomberg) – A corporate tax rate cut in the oil-rich province of Alberta, where both ExxonMobil and Chevron have operations, boosted Exxon’s second-quarter profit by almost $500 million, according to a statement Friday. Chevron noted a $180 million non-cash tax benefit from the measure in its report. While a Canadian tax cut benefiting U.S. Read More

ConocoPhillips awarded wildcat permit offshore Norway

3 weeks ago DieselGasoil Comments Off on ConocoPhillips awarded wildcat permit offshore Norway
7/31/2019 OSLO – The Norwegian Petroleum Directorate has granted ConocoPhillips Skandinavia AS a wildcat drilling permit for well 25/7-7, to be drilled from the Leiv Eiriksson drilling facility. The area in this license consists of parts of blocks 25/7 and 25/10, with the well to be drilled about 17 kilometers northwest of the Balder field. Read More

ConocoPhillips raises 2019 capex 3% to $6.3 bil, mostly for more Alaska activity

3 weeks ago DieselGasoil Comments Off on ConocoPhillips raises 2019 capex 3% to $6.3 bil, mostly for more Alaska activity
Houston — ConocoPhillips kicked up its 2019 capital budget 3%, or $200 million, Tuesday to $6.3 billion to accommodate more exploration and appraisal drilling in Alaska, a contrarian move as most upstream producers are flattening budgets and cutting rigs. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now As if Read More

Wintershall Dea taps ConocoPhillips’ shale expertise in Argentina agreement

4 weeks ago DieselGasoil Comments Off on Wintershall Dea taps ConocoPhillips’ shale expertise in Argentina agreement
7/25/2019 BUENOS AIRES – Wintershall Dea has signed a Sales and Purchase Agreement with ConocoPhillips to jointly develop the Aguada Federal and Bandurria Norte blocks in the central Argentine province of Neuquén. The blocks hold significant unconventional oil and natural gas resources in the prospective Vaca Muerta shale formation. Under the terms of the agreement, Read More

Norway’s safety watchdog approves drillship for use in Troll phase 3

4 weeks ago DieselGasoil Comments Off on Norway’s safety watchdog approves drillship for use in Troll phase 3
London — Norway’s safety watchdog has approved the use by state-controlled Equinor of a drillship to sink eight production wells in connection with the development of the third phase of the giant Troll field in the North Sea. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Troll phase 3 Read More

ExxonMobil commits to joint development of open automation processes

1 month ago DieselGasoil Comments Off on ExxonMobil commits to joint development of open automation processes
7/18/2019 HOUSTON – ExxonMobil said today it has signed collaboration agreements with six other companies to accelerate the development of Open Process Automation (OPA) systems. The companies currently included in this collaboration are Aramco Services Company, BASF, ConocoPhillips Company, The Dow Chemical Company, ExxonMobil Research and Engineering Company, Georgia-Pacific LLC and Linde PLC. Advances in Read More

Fast and lean: How North Sea oil is learning from American shale

1 month ago DieselGasoil Comments Off on Fast and lean: How North Sea oil is learning from American shale
By Eddie Spence on 7/17/2019 LONDON (Bloomberg) –The U.S. oil boom changed the petroleum industry forever. Now its philosophy is being adopted by conventional producers in the North Sea. Motivated by lower crude prices and higher volatility, many companies are favoring smaller and nimbler investments known as “short-cycle projects.” That term — first coined in Read More