Business/economics
The deal adds 40,000 B/D of production and epands Cenovus’ SAGD footprint with three Alberta assets.
The Federal Reserve Bank of Dallas’ third-quarter energy survey reflects industry views on the drawdown of the US Strategic Petroleum Reserve, the outlook for Persian Gulf crude exports, and expectations for oil prices.
As the pace of new discoveries slows and high-quality prospects become harder to find, oil companies may need to rely more heavily on mature fields to maintain production and support future supply.
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The US supermajor continues to evolve its global strategy by pulling out of once-promising Russian partnerships and adding to its offshore Guyana oil drilling bounty. -
The scheme by OPEC and non-OPEC producers to collectively curb oil production has brought stability to the global market—which, as a result, could soon be awash in “a second wave” of US shale output growth.
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Strong US production growth and rising oil prices no longer look incompatible. With a lot less oil in storage, the production is needed to meet growing demand and cover the cost of added output.
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The third edition of the OTC Asia conference recognized several companies and individuals for technological achievements.
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A pair of Permian pure-play operators are consolidating to form a regional drilling and production powerhouse.
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The largest lease sale in the history of the area attracts $139 million in total bids, a $2 million increase over the previous lease sale held last August.
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A new report from Oil & Gas UK explains how the UK North Sea is showing signs of life, but warns that new exploration investment will be necessary to avoid another production downturn.
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The chief upstream strategist of IHS Markit said in a recent presentation that oil exploration must improve its ability to deliver value and better communicate that value to the financial community. New ways of thinking about exploration opportunities are needed.
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Statoil’s board of directors proposed to change the name of the company to Equinor as of 16 March. The name change is intended to support the company’s strategy and development as a broad energy company.
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Pioneer shut in 8,000 BOE/D production in its West Panhandle field in Texas on 6 March due to a compression station fire. No injuries occurred. Planning to use idle compressors, production is expected to restart later this month or in early April.
