Business/economics
EY reports an 11% decline in reserve additions and the first sub-100% reserve replacement ratio since 2021, even as crude output climbed.
Superior seeks to expand its international footprint through the acquisition, which is reportedly valued at $1.2 billion.
By acquiring 100% of Ventura’s outstanding shares, SED Energy Holdings would scale its business into a combined $1 billion company backed by a $1.3 billion contract backlog focused on deepwater drilling, shallow-water tender rigs, and seismic acquisition.
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The project advances toward the final investment decision expected this year. -
Oil demand is a "growth story" as fuel demand shifts internationally, said Rice University's Kenneth Medlock at the recent SPE/IADC International Drilling Conference and Exhibition.
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Consortium suspends planned purchase of 50% stake in Israeli gas producer in light of ongoing military conflict in the region.
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The agency’s short-term outlook forecasts modest declines in production for the rest of this year.
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Block 3B/4B is on trend with nearby Namibian discoveries Venus and Graff.
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The supermajor will gain a 60% working interest and assume operatorship in the AREA OFF-1 block.
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With its North Field development project in full swing to the south and east, Qatar is now turning west to supercharge its plan to raise LNG production by almost 85% before 2030.
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The largest project to date will add a capacity of 250,000 B/D starting in 2025.
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Houston-based Chord is set to see its daily output increase to a basin-leading average of 287,000 BOE/D.
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An analysis from the Energy Workforce & Technology Council found that the sector's job availability for January 2024 decreased by 0.6% compared with December 2023.
