Asset Management
Industry fundamentals continue to strengthen as rising utilization and scarce replacement capacity support higher rig valuations.
The GRMS system of standardization and classification for geothermal resources, led by a coalition of stakeholders in collaboration with Project InnerSpace and the Society of Petroleum Engineers, will be published in November.
Argentina’s President Javier Milei met with TotalEnergies CEO Patrick Pouyanné and Eni CEO Claudio Descalzi in Paris to discuss Argentina’s energy sector, including projects linked to the Vaca Muerta shale formation and the development of the Argentina LNG export project.
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Bonanza Creek plans to buy HighPoint Resources and said it hopes to maintain an output of 50,000 BOE/D by focusing only on drilled-but-uncompleted wells in the near term. -
An ATCE presentation outlined how staged field development can help make smaller oil discoveries commercial alongside existing engineering solutions.
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With the acquisition of Schlumberger’s rod lift business, Lufkin gains several products, brands, and key proprietary software.
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To go big on capturing CO2, the oilfield service company is acquiring a company that specializes in going small.
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Two contracts awarded for flowlines and wellheads at ADNOC’s Abu Dhabi oil fields are expected to be completed in 5 years. A third contract to develop a bypass system for its Jebel Dhanna and Fujairah terminals is expected to be completed in 30 months.
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The Broadside exploration well in Block TTDAA 3 within BHP’s Southern Deepwater Acreage was drilled in September.
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Hess Corp. sold its stake in the Shenzi development to BHP for $505 million to help pay its share of the cost of developing discoveries offshore Guyana.
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Drilling rig scheduled to arrive on 27 October.
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Dutch oil major Shell is looking to further develop its North Slope oil position in Alaska. The company’s offshore unit applied to form the West Harrison Bay Unit offshore from the National Petroleum Reserve–Alaska with plans for drilling and exploration.
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Warrego Energy and partner Strike Energy spudded their second well, West Erregulla 3 (WE3) in the Perth Basin onshore West Australia.
