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London-listed oil company Bahamas Petroleum (BPC) has been awarded the AREA OFF-1 petroleum licence offshore Uruguay. BPC said on Tuesday that it was chosen as the successful applicant for the award of an exploration licence offshore Uruguay by the Uruguayan national regulatory agency, ANCAP. Continue reading
Mexico’s Grupo R has received an early termination of a drilling contract with Hokchi Energy due to the current market situation. Hokchi Energy, a subsidiary of Argentinean firm Pan American Energy, signed an offshore drilling and logistics contract with Grupo R back in late January 2020. Continue reading
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced its operational update for the three-month period ended March 31, 2020 (“1Q2020”). All figures are expressed in US Dollars and... Continue Reading →
Emerson (NYSE: EMR) announced it has signed a multi-year agreement with YPF S.A., a major Argentinian energy company, for Emerson’s exploration and production (E&P) software for seismic data interpretation and visualization. This comprehensive software portfolio gives YPF a holistic subsurface view of its reservoirs and exploration areas, leading to a collaborative and integrated seismic interpretation... Continue Reading →
Just a bit more than 3 weeks ago, the head of Argentina’s state-run driller outlined an aggressive $1.8 billion spending plan for 2020 in the country’s Vaca Muerta shale region, based on $60-a-barrel crude. With global prices starting the year above $68, it wasn’t unrealistic. Now, all bets are off. Continue reading
Searcher has completed the reprocessing of an additional 8,008 kilometers of 2D seismic data offshore Argentina as part of the Argentina Super-Tie 2D Reprocessing Project. The expanded coverage over the Malvinas and Austral Basins adds to Searcher’s existing data in the area, comprising over 19,000 kilometers of high quality broadband reprocessed 2D seismic data. Continue... Continue Reading →
Mar 24, 2020 A price war between global oil giants is leaving many producers in Latin America struggling to cover production costs, increasing the chances of investment cuts and delays in the coming months. Global oil price benchmarks are experiencing their sharpest declines in decades, in a perfect storm, with declining demand in the face... Continue Reading →
Just weeks into his young administration, Argentina’s new president convened a meeting with executives from Chevron Corp (CVX.N), Royal Dutch Shell PLC (RDSa.L) and other oil companies in a bid to smooth things over with an industry which he had slammed as a candidate months before. Campaigning last year against the South American country’s former... Continue Reading →
Equinor and its partner Shell have completed a joint acquisition of the 49% interest held by Schlumberger in the Bandurria Sur onshore block in Argentina’s Neuquén province. The consideration for each partner for their 24.5% interest is USD 177.5 million. The block covers around 56,000 gross acres in the central area of the prolific Vaca... Continue Reading →
Mexico’s energy services provider Grupo R has signed an offshore drilling and logistics contract with compatriot Hokchi Energy, a subsidiary of Argentinean firm Pan American Energy. Grupo R said on Thursday that it would be using the Cantarell III jack-up rig to drill wells during the Hokchi field development campaign off the coast of the... Continue Reading →
Brazil Energy Insight 