E&P Highlights: March 17, 2025
Here’s a roundup of the latest E&P headlines, from Shell’s divestment to refocus its Nigeria strategy to a new sustainability designation for Exxon Mobil’s first FPSO off Guyana.
Chevron Buys 15.4MM Shares of Hess Stock on Open Market
Chevron Corp. reported that between January and March 2025 it purchased about 5% of Hess Corp. shares, according to a Securities and Exchange Commission filing.
Then and Now: 4D Seismic Surveys Cut Costs, Increase Production
4D seismic surveys allow operators to monitor changes in reservoirs over extended periods for more informed well placement decisions. Companies including SLB and MicroSeismic Inc. are already seeing the benefits of the tech.
E&P Highlights: March 3, 2025
Here’s a roundup of the latest E&P headlines, from planned Kolibri wells in Oklahoma to a discovery in the Barents Sea.
E&P Highlights: Feb. 24, 2025
Here’s a roundup of the latest E&P headlines, from a sale of assets in the Gulf of Mexico to new production in the Bohai Sea.
Exxon Aims to Boost Guyana Gas Production, Explore Export Options
Production capacity in Guyana is expected to surpass 1.7 MMbbl/d, with gross production growing to 1.3 MMbbl/d by 2030.
Exxon Seeks Permit for its Eighth Oil, Gas Project in Guyana as Output Rises
A consortium led by Exxon Mobil has requested environmental permits from Guyana for its eighth project, the first that will generate gas not linked to oil production.
Chevron to Lay Off 15% to 20% of Global Workforce
At the end of 2023, Chevron employed 40,212 people across its operations. A layoff of 20% of total employees would be about 8,000 people.
Exxon Enlists Baker Hughes to Support Uaru, Whiptail Offshore Guyana
Baker Hughes’ will provide specialty chemicals and related services in support of the Uaru and Whiptail projects in the Stabroek Block.
Chevron Targets Up to $8B in Free Cash Flow Growth Next Year, CEO Says
The No. 2 U.S. oil producer expects results to benefit from the start of new or expanded oil production projects in Kazakhstan, U.S. shale and the offshore U.S. Gulf of Mexico.