Chevron, Exxon in Dispute Over Hess Stake in Guyana Oil Block
Chevron’s $53 billion deal to buy Hess’ interests in the Stabroek Block offshore Guyana could be derailed as Exxon, CNOOC say they have first rights of refusal on the block’s interests.
E&P Highlights: Feb. 16, 2024
From the mobile offshore production unit arriving at the Nong Yao Field offshore Thailand to approval for the Castorone vessel to resume operations, below is a compilation of the latest headlines in the E&P space.
Exxon’s Payara Hits 220,000 bbl/d Ceiling in Just Three Months
ExxonMobil Corp.’s third development offshore Guyana in the Stabroek Block — the Payara project— reached its nameplate production capacity of 220,000 bbl/d in January 2024, less than three months after commencing production and ahead of schedule.
CNOOC Sets Increased 2024-2026 Production Targets
CNOOC Ltd. plans on $17.5B capex in 2024, with 63% of that dedicated to project development.
E&P Highlights: Jan. 8, 2024
Here’s a roundup of the latest E&P headlines including the second biggest deepwater gas find of 2023 and new contract awards.
Exxon Budgets for Massive Earnings, Double-digit Production Growth
Exxon Mobil plans to achieve $14 billion in earnings and cash flow growth between 2024 and 2027, anchored by production growth of at least 11% amid a continued focus on high-return, low-cost-of-supply, value-accretive investments.
E&P Highlights: Dec. 4, 2023
Here’s a roundup of the latest E&P headlines including a number of field development project contract awards.
What's Affecting Oil Prices This Week? (Dec. 04, 2023)
At the meeting OPEC+ agreed to reduce its oil production by another 700,000 bbl/d – which will come from Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman.
E&P Highlights: Nov. 20, 2023
Here’s a roundup of the latest E&P headlines, including expanded work offshore Gabon and new contract awards.
Exxon Eyes Total Guyana Production of 620,000 bbld with Payara Startup
Exxon Mobil is eyeing gross production of 620,000 bbl/d offshore Guyana in the Stabroek Block in the first half of 2024 with the start-up of its third project Payara, which has a production capacity of 220,000 bbl/d.