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Within the race for renewables, oil and gas companies are finding themselves in a proverbial rut as they reassess existing profitable models with future energy transition plans. What adds more difficulty is the question of speed in which companies pursue this conundrum.

While it is one of the top producers of liquid hydrocarbons in the US, New Mexico is also among the driest. The issue has culminated in a restriction on new freshwater leases issued by the state and a push for more recycling of produced water.

Regionwide US Gulf of Mexico (GOM) Lease Sale 256 generated $120,868,274 in high bids for 93 tracts in federal waters. The sale on 18 November featured 14,862 unleased blocks covering 121,875 square miles.

After a line of four discovery wells in Suriname, Total and Apache are going off trend with a well to see if the potentially huge play extends north as well.

The new field is the fourth exploration well the operator has drilled offshore Norway in the past 16 months.

The two deals have a combined valued of $3 billion and involve more than 81,500 acres in the Midland Basin of Texas.

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In the spectrum of artificial intelligence (AI) technologies, those adopted to date in the oil and gas industry are task-focused, narrow applications. Taking AI to the next level cannot be done by Silicon Valley alone.

Outlooks for the coming year depend in large part on your own worldview: Are you generally an optimist or a pessimist?

The new deal will focus on developing Arctic onshore blocks in a region where a successful LNG project already exists.