Production
News
January 17, 2023
The Organization of Petroleum Exporting Countries will need to provide an average of 28.85 million bpd in the first three months of the year, roughly 120,000 bpd less than it pumped last month, according to a report from the group’s Vienna-based secretariat.
News
January 17, 2023
The process, which will provide a significant boost to the UK’s energy security, opened on Oct. 7 and offered acreage across the North Sea. It included four priority areas, which have known hydrocarbons, in which there was very keen interest and could see production in as little as 18 months.
News
January 16, 2023
Symbion’s Chief Executive Officer Paul Hinks confirmed the company won the Makelele methane gas block on Lake Kivu with its partner Renewable Energy Developments. The company proposed a 60-megawatt gas-to-electricity project, in one of the world’s least-electrified nations.
News
January 16, 2023
The North Sea Transition Authority’s announcement that it has received 115 bids for new oil and gas exploration licenses shows how UK offshore energy operators are doing their best to support the nation’s energy future, Offshore Energies UK (OEUK) said on Jan. 16.
News
January 16, 2023
At production start-up, expected in 2025, Lapa South-West will increase production from the Lapa field by 25,000 barrels of oil per day, bringing the overall production to 60,000 barrels of oil per day.
News
January 11, 2023
The "Fololo" design, which was initially developed by Perenco for operations in the DRC, comprises lightweight floating pontoons and legs that can be self-elevated to the required height in a simple, genuine and smart concept developed by the Perenco Group for Perenco Rep.
News
January 11, 2023
Flowserve is working with three engineering, procurement and construction companies. These companies will utilize a diverse portfolio of pumps, mechanical seals and sealing systems for different components of the Jafurah project.
News
January 10, 2023
"We strongly support the draft strategy's commitment to developing a Scottish hydrogen economy, including the exciting ACORN project in the north-east. However, we are concerned at the statement's suggestion of accelerating the decline in oil and gas production," Jenny Stanning, OEUK’s external relations director said.
News
January 10, 2023
Trillion Energy has identified several additional opportunities to increase production at the SASB gas field during 2023 by adding three side-track wells to its development program. The total number of wells now contemplated in the SASB development program has increased from 17 to 20.
News
January 10, 2023
Apex acquired all of IEOC’s interests in the Ras Qattara, West El Razzak and East Kanayis concessions. Apex will acquire the West Abu Gharadig concession following an extension and will become the operator of each through Farah Petroleum Company.
News
January 09, 2023
The report investigates the country’s long-term development agenda, exploring the pathway to becoming a regional hydrocarbons hub, the intersection of natural gas and the energy transition, the future of oil development and more.
News
January 09, 2023
Neptune Energy announced first oil production from its operated Rӧmerberg 6 well in the city of Speyer, south-western Germany. Initial production tests indicate flow rates of up to 1,800 boed.
News
January 09, 2023
The first production well, DHIBM-3H, targets the Gamba sandstone reservoir on the Hibiscus field and is expected to take just over two months to drill and complete.
News
January 06, 2023
Xinjiang Central Asia Petroleum and Gas Co. will invest as much as $150 million in the first year and $540 million over the subsequent three years to explore five oil and gas blocks. The militant group will earn 15% royalty fees from the 25-year contract.
News
January 06, 2023
Labor shortages in the oilfield have been one of the biggest hurdles holding back production growth. The overall number of workers employed in U.S. oil and gas jobs totaled 136,100 in December, down 3.1% from last year’s peak in July.
News
January 05, 2023
Chief Executive Officer Scott Sheffield said his company now sees Permian production of about 7 million bpd by 2030, down from a previous view of 8 million bbl.
News
January 04, 2023
Houston-based TG Natural Resources, which is majority-owned by Tokyo Gas, is discussing purchasing Rockcliff from private equity firm Quantum Energy Partners. An all-cash deal could be announced as soon as this month, though it’s possible that terms change or talks collapse.
News
January 04, 2023
Expected combined gross production rates are in-line with pre-drill estimates of approximately 15-20 Mboed. The two wells will produce through a shared riser system at the Ram Powell facility.
News
January 02, 2023
Barnwell has acquired a non-operated working interest in a two-well pad consisting of 10,000’ laterals targeting the Wolfcamp Formation in Loving and Ward Counties, Texas. Initial production is expected in Barnwell's second fiscal quarter.
News
December 29, 2022
World Oil was on the front lines of every breaking news story in 2022. From positive production predictions and interventions from the White House to billion-dollar profit exploration setbacks, our readers had plenty to keep them on their toes. Read more of this year's top headlines here.
News
December 28, 2022
The assets acquired from Ensign Natural Resources span Live Oak, Bee, Karnes, and Dewitt Counties across the condensate, wet gas, and dry gas phase windows of the Eagle Ford.
