Asset Management
The Houston-based developer of AI-powered submersible robotics earned the Best in Show Award and a $10,000 prize.
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.
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Greenland opened three new offshore areas for application of oil and gas exploitation licenses off West Greenland. The areas are Baffin Bay, Disko West, and Davis Strait.
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Apache filed appraisal plans for its Maka and Sapakara oil discoveries in block 58 offshore Suriname. -
Beach Energy plans to drill at its Artisan-1 well about 32 km offshore Victoria, Australia, in the Otway basin, before the end of 2021. The well was delayed due to COVID-19.
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Total made a significant second gas condensate discovery on the Luiperd prospect, located on Block 11B/12B in the Outeniqua Basin, 175 km off the southern coast of South Africa.
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BP was the only operator to place a bid in the Canada-Newfoundland and Labrador Offshore Petroleum Board call for bids, which offered 17 parcels in the eastern Newfoundland region.
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Digital transformation offers opportunities beyond the technical goal of increased production. It may also enhance sustainability, the work/life balance, and the public’s perception of the industry.
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OPEC’s easing of production cuts originally planned for January may be delayed until mid-2021 because of the global increases in COVID-19 cases occurring in November.
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While the individual circumstances of upstream companies may vary, they all must take decisive action to pivot away from “business as usual” and instead, pursue new growth models.
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Financial analytics company S&P Global and information provider IHS Markit announced they have agreed to merge in an all-stock deal that values IHS Markit at $44 billion.
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ExxonMobil has trimmed its future spending by more than 30% and said it will seek to divest from gas assets in the US, Canada, and Argentina.
