E&P Highlights: Aug. 12, 2024
Here’s a roundup of the latest E&P headlines, with a major project starting production in the Gulf of Mexico and the latest BLM proposal for oil and gas leases in North Dakota.
Gran Tierra Makes Oil Discovery in Ecuador’s Charapa Block
Gran Tierra Energy’s oil discovery at the Charapa-B6 well will be its fifth discovery in Ecuador.
US Extends General License for Petroleos de Venezuela Bond
The U.S. has extended the general license for Petroleos de Venezuela's 2020 8.5% bond.
Chevron Warns of Ongoing Uncertainties in Venezuela After Elections
Chevron, the only U.S. company operating in Venezuela, warned of ongoing uncertainties in the South American after recent presidential elections, and the company has already said it will not invest new capital into the country.
Oxy Faces Mounting Debt as Ecopetrol Declines CrownRock Deal
Fitch Ratings and Moody’s Ratings expected an Ecopetrol deal of $3.6 billion to help Occidental Petroleum reach its $4.5 billion to $6 billion debt reduction target.
The EPC Market Keeps Its Head Above Water
While offshore investments are rising, particularly in deepwater fields, challenges persist due to project delays and inflation, according to Westwood analysis.
Delek to Sell Retail Business to FEMSA for $385MM
Delek US Holdings will sell its subsidiary, Delek US Retail, to Mexico conglomerate FEMSA in a bid to unlock value, Delek’s CEO said.
Petrobras’ 2Q Production Rises 2.4% YOY to 2.7 MMboe/d
Brazil’s state-owned Petrobras reported average production of 2.7 MMboe/d in second-quarter 2024 as offshore production continues to ramps up.
E&P Highlights: July 29, 2024
Here’s a roundup of the latest E&P headlines including Energean taking FID on the Katlan development project and SLB developing an AI-based platform with Aker BP.
International, Tech Drive NOV’s 2Q Growth Amid US E&P Headwinds
Despite a U.S. drilling slowdown, slightly offset by Permian Basin activity, NOV saw overall second-quarter revenue grow by 6%, although second-half 2024 challenges remain in North America.