The topsides fabrication and integration contract will be for the FPSO Jaguar, bound for the Whiptail Field in the Stabroek block offshore Guyana for Exxon Mobil.
Coming out of first-quarter 2024, drilling contractor Valaris expects a sustained upcycle for the offshore drilling industry supported by demand growth, OPEC+ production cuts and supportive commodity prices.
Exxon Mobil plans to drill longer, more capital efficient wells in the Midland Basin after a major boost from the $60 billion Pioneer Natural Resources acquisition. Data shows that Exxon is a leading operator drilling 4-mile laterals in the Permian’s Delaware Basin.
Chevron continues to prioritize Permian Basin investment for new production and is seeing D-J Basin growth after closing its $6.3 billion acquisition of PDC Energy last year, CEO Mike Wirth said.
Here’s a roundup of the latest E&P headlines, including a new contract award and drilling technology.
Exxon Mobil Corp. CEO Darren Woods said the company’s gas-to-power project in Guyana is a “win-win proposition particularly for the people of Guyana” when completed and hooked-up by year-end 2024.
Chevron and Exxon Mobil are feeling the pinch of weak energy prices, particularly natural gas, and fuels margins that have cooled in the last year.
Chevron Corp.’s planned $53 billion acquisition of Hess Corp. could potentially close in 2025, but in the meantime, the California-based energy giant is in a “read only” mode as an Exxon Mobil-led consortium boosts Guyana production.
The final part of Hart Energy E&P’s Deepwater Roundup focuses on projects coming online in the Americas from 2023 until the end of the decade.
Near-record associated gas volumes from U.S. oil basins continue to put pressure on dry gas producers, which are curtailing output and cutting rigs.