Exploration/discoveries
Equinor said it found between 14 million and 24 million BOE with its most recent exploration well in the Polynya Tubåen prospect.
Companies largely focused on deepwater acreage in the second Gulf lease sale held under the One Big Beautiful Bill Act.
Operator started planning the development before it made its latest North Sea discovery.
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Mexico’s Round 2.4 deepwater auction surpassed expectations as 19 of 29 blocks were awarded to 11 firms from 10 countries. -
Later this month, Mexico will auction off 35 shallow-water blocks in the Gulf of Mexico, as its attempt to revive its oil and gas industry moves forward.
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Despite an abundance of discovered resources, most companies are still running at unsustainable reserves replacement levels, necessitating further investment in exploration of conventional and unconventional reservoirs.
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BP announced two North Sea discoveries, adding to signs of a revival in play that was looking old, tired, and overpriced a couple years ago.
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Mexico’s Round 2.4 deepwater auction surpassed expectations as 19 of 29 blocks were awarded to 11 firms from 10 countries.
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The largest Gulf of Mexico lease sale in history is designed to jump-start offshore activity.
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The Mexican government continues to update its environmental regulations as authorities prepare for the first exploration and production (E&P) auction to feature blocks with unconventional oil and natural gas resources.
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At an initial production rate of almost 13 MMcf/D, BP’s new well has achieved the highest early-production level in 14 years for a well in the San Juan Basin of Colorado and New Mexico.
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Many new developments in African exploration and production hold tremendous potential to bring more energy and prosperity to the continent—and shine a light of affordable, abundant energy.
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As interest in unconventional resources has grown in Europe, so have concerns about the potential environmental impacts of their development.
