Asset Management
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 epands Cenovus’ SAGD footprint with three Alberta assets.
The Federal Reserve Bank of Dallas’ third-quarter energy survey reflects industry views on the drawdown of the US Strategic Petroleum Reserve, the outlook for Persian Gulf crude exports, and expectations for oil prices.
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Vår Energi cited increased work scope, continued impact of global supply chain challenges for spike in the estimated cost of the Norwegian Continental Shelf project. -
The decision to spend more than $700 million comes 4 years after the French giant shelved the project amid low oil and gas prices.
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The energy giant is set to gain new leadership in the new year.
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The sale had 307 valid high bids worth more than $190 million.
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The Biden administration seeks to cut the cost of enhanced geothermal systems by 90% by 2035.
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To combat rising prices ahead of winter, the UK will subsidize household energy costs and work to expand domestic energy supplies across the board.
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The Rosmari-Marjoram project will be developed utilizing subsea wells and solar power.
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The latest move to reduce output requirements comes after the coalition lowered its expectations for surplus crude in the market.
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ExxonMobil and Shell announced on 1 September that they have agreed to divest their 25-year-old joint venture Aera Energy. The California-based subsidiary reported an average production rate of almost 95,000 BOE/D in 2021, representing nearly a quarter of the state's total oil and gas output.
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Oil and gas maintenance managers rank reliability of equipment and an overload of new processes and procedures to follow as top concerns in a new survey.
