Jennifer
Pallanich
Hart Energy
E&P Highlights: Dec. 30, 2022
Here’s a roundup of the latest E&P headlines, including a field start up and a well drilled to a basin with record depth from the past week in the upstream oil and gas industry.
W&T Offshore Eyes Future Acquisitions Following Mobile Bay Transaction
A transaction with Munich Re Reserve Risk Financing provides W&T Offshore with the dry powder needed to continue to accretively grow through “attractive producing property acquisitions,” CEO Tracy Krohn says.
Report Shows US Offshore Oil, Gas Resources Down
The biggest change in undiscovered technically recoverable oil and gas resources offshore the U.S. were seen in the Gulf of Mexico region, the BOEM says.
UAE Oil Discoveries Bolster ADNOC Bid to Reach 5 MMbbl/d Capacity
United Arab Emirates' Energy Minister Suhail al-Mazrouei said on Nov. 23 the latest oil discoveries are part of state-owned Abu Dhabi National Oil Co.'s efforts to increase production capacity to 5 million barrels per day (MMbbl/d) by 2030.
Eni, BP Hit Natural Gas Offshore Egypt
he Nidoco NW-1 exploratory well hit gas-bearing sands for a total thickness of 100 meters, Eni said.
Acoustic Imaging Tool Provides 360-degree Downhole View
The approach leverages sound waves to give operators eyes inside their wellbores.
Equinor, Rosneft To Extract 250 MMbbl Of Oil At Russian Field
Oil firms Equinor and Rosneft expect to extract some 250 million barrels of oil and 23 billion cubic meters of gas during the first part of the development of the Severo-Komsomolskoye oilfield in Russia, Equinor said on Dec. 23.
Companies Opting For Shorter Cycle Times As Conventional Projects Decline
Recent IHS Markit report says a significant rebound in discoveries may not happen because since 2014 there has been an increased emphasis on exploring less risky maturing basins and short cycle-time unconventional projects.
BP Agrees To Sell Egyptian Assets To Dragon Oil
Reuters reported last month that London-based BP was nearing the sale of the Egyptian assets to Dragon Oil for over $600 million, citing industry and banking sources.
Canadian Natural Resources To Temporarily Shut In Oil Production Due To Wildfires
Oil and gas producer Canadian Natural Resources Ltd. said on Friday it would temporarily shut-in about 65,000 barrels per day (bbl/d) of crude oil production due to forest fires in Alberta.