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(OE) Brazilian oil company Enauta said Thursday that it has successfully replaced the seabed pump and returned to production a well at its Atlanta field, offshore Brazil. With the well, named well 7-ATL-4HB-RJS, online, the field returned to producing around 12,500 barrels of oil per day, contributing to the company's total production of around 21,500... Continue Reading →
(Reuters) - At the risk of being dropped from Texas pension funds, BlackRock Inc (BLK.N) has ramped up its message that the world's largest asset manager is a friend of the oil and gas industries. As a large and long-term investor in fossil fuel companies, "we want to see these companies succeed and prosper," BlackRock executives wrote... Continue Reading →
High oil and gas prices helped Spain's Repsol REP.MC to post earnings above market expectations on Thursday, giving it more financial firepower to spend on low-carbon operations investors are increasingly demanding of energy companies. Benchmark Brent crude oil LCoC1 and Henry Hub gas rose 70% and 86% respectively during 2021 as tight gas supplies collided... Continue Reading →
Partners Frontera Energy and CGX Energy plan to spend up to $130 million on their second exploration well on the Corentyne block offshore Guyana following positive results from the first well, Kawa-1. Frontera Energy is the majority shareholder of CGX and joint venture partner of CGX in the Petroleum Prospecting License for the Corentyne block.... Continue Reading →
(OM) Demand for floating rigs is soaring in the new year, with floaters making up 86% of the awards in February thus far, according to Evercore ISI’s latest Offshore Rig Market Snapshot. While no contract awarded was for more than four months, the firm commented that “day rates are clearly trending higher with Transocean... Continue Reading →
(Reuters) - A string of offshore oil discoveries has turned Guyana, a tiny South American country with fewer than 800,000 people, into one of the hottest exploration and production frontiers in decades. Since 2015, oil companies operating off its coast have found more than 10 billion barrels of recoverable oil and gas, a tenth of... Continue Reading →
(PetroleoHoje)The latest seismic data collected by PGS in the Campos Basin indicate a potential for emerging plays near the Urissane and Mairarê wells. The wells were drilled by Petrobras in 2020 and 2021, respectively, and Urissane generated an oil discovery at the end of January last year. According to John Cramer, Brazil Area Manager at... Continue Reading →
(Reuters) Guyana's President Irfaan Ali on Tuesday defended his country's right to develop its oil industry for its residents while insisting local goods and services requirements are not meant to block foreign investments. A string of discoveries off its coast is on the verge of turning the tiny South American country into an oil powerhouse.... Continue Reading →
Danish offshore vessel owner Maersk Supply Service said Tuesday it had secured an integrated solutions contract by Shell in Brazil, for a station-keeping assignment during the removal of the emergency Gas Lift Riser on the FPSO Fluminense. The scope includes responsibility for the station keeping, including vessels, heading control procedures, towmasters, survey equipment and deck... Continue Reading →
(PN) The King Maker rig, operated by PetroRio, concluded the third intervention in a year in the Tubarão Martelo field, in the Campos basin. The last one was in well TBMT-44. Carried out in just 27 days, a record in field wells, the intervention aimed to replace the equipment responsible for lifting and producing oil.... Continue Reading →
