Management
The agreement follows the discovery of 724 million BOE in unconventional oil and gas reserves in November.
Westwood links 2026 exploration outcomes to policies, with operators offshore Norway finding seven times more resources than those offshore the UK.
The purchase includes approximately 260 producing wells and expands Caturus’ footprint in the Eagle Ford and Austin Chalk.
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Present industry solutions to the challenge of well spacing involve expensive geomechanical Earth modeling or fracture-geometry monitoring that is time-consuming, data-intensive, and geography-specific. -
The two largest oil companies in the US are shedding thousands of employees and contractors to cope with a steep decline in demand.
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More than half of the oil and gas production in the region is shut in.
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Hurricane Zeta is intensifying as it approaches the US Gulf of Mexico coast of southeastern Louisiana, where it is expected to make landfall around 4 p.m. CST today. View a video of Zeta posted by the US Air Reserve Hurricane Hunters.
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Describing it as a “bolt-on” acquisition, the Marcellus Shale producer EQT expects the deal will boost its gas production by 10%.
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In his first remarks as SPE President, Tom Blasingame announced that the theme of his tenure is “Survive, Revive, and Thrive.”
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Evacuations in the GOM began on Monday, but so far nearly 50% of current oil production and 55% of natural gas production in the region is shut-in due to Tropical Storm Zeta.
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The Canadian oil company consolidation formula looks a lot like the one offered by US shale producers.
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In an updated projection, Rystad said that a breakeven of only $50/bbl is needed to produce 100 million BOPD in 2025, reflecting the reduction in oil-production costs.
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The EPCI contract for the Breidablikk development includes provision of flexible jumpers and rigid pipelines as well as pipeline installation work. About 70% of the value creation in the Breidablikk development phase is expected to go to Norwegian companies.
