Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Colombia's state-run oil company Ecopetrol (ECO.CN) has asked the oil regulator to suspend contracts for two fracking pilot projects for 90 days, the company and two sources told Reuters on Tuesday. The two projects - being developed in Santander province by Ecopetrol and U.S. oil major Exxon Mobil Corp (XOM.N) - have faced stiff resistance from environmental... Continue Reading →
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 66,000 barrels per day (bpd) to a record 5.413 million bpd in October, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
(WO) From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. All over Latin America, the upside of $100 crude has been blunted by nationalist policies that tightened government control of... Continue Reading →
With the current energy crisis and clean energy transition taking centre stage, companies are shifting focus to lower-risk core assets and regions, thus, Rystad Energy, an energy intelligence group, forecasts that the global oil and gas exploration spending and activities are expected to shrink even further this year as the number of licensed blocks and total acreage fall... Continue Reading →
(Reuters) - Argentina is on track to hit record oil output this year from its massive shale deposits, which are already responsible for record natural gas production, a key local official said on Tuesday, amid a national push to grow domestic energy supplies. Located in western Neuquen province, the Vaca Muerta shale formation is the... Continue Reading →
(WO) Latest analysis from Westwood Global Energy Group, a specialist energy market research and consultancy firm, reveals a healthy recovery roadmap for the global land rig market, driven by higher commodity pricing and mounting pressures around energy security. Westwood expects many regions to recover from the dramatic global downturn throughout 2020 better than previously expected. In... Continue Reading →
(Bloomberg) — U.S. shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas production, according to Deloitte LLP. High oil prices and disciplined capital spending mean American frackers are on course for their most profitable year... Continue Reading →
(Reuters) - Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 79,000 barrels per day (bpd) to a record 5.408 million bpd in September, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale... Continue Reading →
(Reuters) - Argentina's central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles to keep a lid on spiraling inflation that rose to a 20-year high of 71%, according to new data. The central bank raised the benchmark 'Leliq' rate for the 28-day term to 69.5% from 60%,... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), following best practices in corporate governance and transparency, informs its investors and the market in general the preliminary unaudited production data for July 2022 in the assets that the Company holds participation. (1) Macau Cluster had its production in May, June and July impacted by an... Continue Reading →
