Brought to you by Quest Offshore & Southern Cone Consultants
Oct 23 (Reuters) - In a windy, remote oilfield in Argentina, Chevron is bringing in US workers, equipment and expertise, betting it can recreate the Permian Basin shale boom that transformed the US oil industry two decades ago, this time in the Vaca Muerta formation, where success has long been elusive. The US oil producer... Continue Reading →
Oct 23 (Reuters) - SLB beat Wall Street estimates for third-quarter profit on Friday, supported by strong North American oilfield activity, while signaling recovery in parts of the Middle East following conflict-related disruptions. Repeated flare-ups in the US-Iran conflict, now in its eighth month, have pressured oilfield services companies with significant exposure to the region... Continue Reading →
Oct. 22 (seeking alpha) Weatherford International (WFRD) jumped 8.6% in Wednesday's trading after easily beating Q3 earnings estimates and saying its Venezuela business could reach its previous peak of $500M in annual revenue in the next few years. Q3 profit rose to $120M, or $1.66/share, from $81M, or $1.12/share, in the year-earlier quarter, while revenue... Continue Reading →
Oct. 22 (AP) A single figure sets Venezuela apart from the rest of the world: 303 billion barrels of so-called proven oil reserves. But experts say the country's estimate is inherently problematic and far from proven — rooted in exaggerated, aging data from a corrupt government. The number has long been touted by politicians and... Continue Reading →
Oct. 20 (TN) On October 18, the FPSO P-82 departed from the Tuas Boulevard Yard in Singapore, bound for the Búzios field in the pre-salt region of the Santos Basin—the field with the largest reserves and production volume in Brazil. The P-82 is one of six giant FPSOs commissioned by Petrobras; with a nominal production... Continue Reading →
Oct 19 (Reuters) - Oilfield service companies including Weatherford International, Baker Hughes, Halliburton and SLB are advertising dozens of jobs in Venezuela, according to company websites, an early sign that a Washington-backed plan to rebuild the country's energy industry is gaining traction. The hiring could help reverse a sanctions-era exodus of companies and professionals from... Continue Reading →
Oct 20 (Reuters) - Halliburton topped Wall Street expectations for third-quarter revenue and profit, as higher demand for its oilfield equipment in Latin America helped offset muted activity in North America and subdued revenue in the Middle East and Asia. Shares of the company, which kicked off the earnings season for US oilfield service providers,... Continue Reading →
Oct 17 (Reuters) - Venezuela expects nearly $76 billion in oil investment over the next five years under recently signed agreements, acting President Delcy Rodriguez said on Saturday, adding that a bilateral accord with the US includes plans to drill 250 rigs. Since the January ouster of President Nicolas Maduro, the country has been reopening... Continue Reading →
Oct. 19 (oilnow.gy) ExxonMobil is evaluating wells near its Ranger discovery offshore Guyana for possible tiebacks to a future development, with Rockhead among the wells drilled this year. John Ardill, ExxonMobil’s vice president, outlined the work in a LinkedIn post. The exploration and appraisal program is gathering subsurface data to assess a commercial development in... Continue Reading →
Oct. 17 - bp has identified signs of hydrocarbons in well 1-BP-14-SPS, the first exploratory well drilled in the Tupinambá block, located in the pre-salt layer of the Santos Basin. Drilling took place in September using Transocean’s Deepwater Mykonos drillship. The company acquired a 100% stake in the block during the second cycle of the... Continue Reading →
