Asset Management
The long-term outlook analysis says a potential shift toward new construction could push 2026 production 3% above 2025 levels.
Lower operating expenditures and a changing asset mix helped UKCS operators cut average production costs by 9% year over year, despite relatively flat production levels, according to the NSTA.
The deal adds 40,000 B/D of production and expands Cenovus’ SAGD footprint with three Alberta assets.
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BP agreed 1 year ago to sell its interests to Premier Oil for $625 million. The companies later restructured the deal and BP lowered its cash value to $210 million. The transaction fell through after Premier was taken over by Chrysaor in October 2020. -
On a pro forma basis the newly combined oil company is expected to have an output of around 280,000 B/D, making it one of the top producers in the Permian Basin.
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Within the race for renewables, oil and gas companies are finding themselves in a proverbial rut as they reassess existing profitable models with future energy transition plans. What adds more difficulty is the question of speed in which companies pursue this conundrum.
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Six international and Egyptian companies will search for oil and gas in the Mediterranean and Red Sea with the drilling of 17 new exploration wells.
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Production has started on the Mahani field in Concession Area B of the Sharjah Emirate, the first startup from a new discovery onshore Sharjah in 37 years.
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The all-stock deal doubled Liberty’s working pressure-pumping capacity without adding any debt to its balance sheet, while Schlumberger retains a 37% equity interest.
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The two Calgary-based heavy-oil companies have closed on their all-stock deal that was valued at around $2.9 billion when it was announced in October.
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The cutting-edge technological developments in geothermal are devoted to drilling into deeper, hotter, and harder rock. Oil and gas expertise and know-how holds the key to cost reduction.
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Regionwide US Gulf of Mexico (GOM) Lease Sale 256 generated $120,868,274 in high bids for 93 tracts in federal waters. The sale on 18 November featured 14,862 unleased blocks covering 121,875 square miles.
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ConocoPhillips wildcat discovers significant natural-gas condensate resource.
