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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The deal includes Sandvik’s exploration rigs, consumables, production stock, and selected trademarks and patents. -
Hurricane Delta leads to shut-ins of 92% oil and 60% gas production in GOM as landfall is expected today.
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GOM production shut-ins increased to 80% of the oil and 49% of natural gas. Hurricane Delta weakened from a category 4 storm to a category 2 storm on Wednesday and is expected reach the US Gulf later in the week.
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The merger will effectively end the 86-year run of UK independent oil producer Premier Oil and give rise to one of the largest companies operating in the North Sea region.
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The acquisition of Weir’s lines of pumps, consumable parts, wellhead, and pressure-control products expands Caterpillar’s well-service capabilities.
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Hurricane Delta is expected to hit Mexico’s Yucatan Peninsula on Wednesday and reach the US Gulf later in the week. Twenty-nine percent of the current oil production and 9% of natural gas production in the Gulf of Mexico is shut in.
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With oil prices still low, Hess decided to sell a stake in one offshore project to help pay to develop a much larger one.
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The latest updates on the North American shale sector’s efforts to consolidate and restructure.
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Equinor plans to cut its global exploration staff by 30% in the next 3 years and plans to drill 30–40 wells globally this year. Ongoing labor strikes have led to the operator shutting in four of its platforms.
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A recent round of funding which raised $18 million positioned ReconAfrica to proceed with drilling and seismic programs for the Kavango basin in Namibia, said CEO Scot Evans.
