Drilling & production

The first export cargo of Catcher oil of approximately 500 000 bbls was lifted yesterday, earlier than anticipated, and has been sold at a premium to Brent.

Throughout the year, ExxonMobil has announced a number of discoveries, acquisitions and exploration activities in various countries, including Brazil, Cyprus, Equatorial Guinea, Guyana, Mauritania, Papua New Guinea, Suriname and in the United State's Gulf of Mexico.

The initial phase of the deepwater project consists to two development wells in Keathley Canyon 829 and a six mile subsea tieback to the Lucius plat form at Keathley Canyon 875.

Drilling leases for vertical and horizontal wells have been completed and the Ensign 965 Drill Rig has begun to arrive at PEL96 of the Southern Cooper Basin.

The ONZ-7 well was drilled to a total depth of 1167 m with five m of net conventional natural gas pay in the Hoot formation. The well came in on prognosis but reservoir quality exceeded initial expectations, encountering porosity in the pay section of 35.3%.

Halliburton has reported a loss from continuing operations of US$805 million for 4Q17, which it believes are a reflection of charges related to US tax reform and Venezuela receivables.

Independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2017.

Rising oil prices have drawn more eyes to the offshore markets. There are signs of green shoots after a period of depressed sentiment that started in late 2014, pushing asset values downwards through 2016.

Petrofac’s Engineering and Production Services (EPS) division has been awarded a new Offshore Manning Services contract by Chevron North Sea Limited (Chevron).

The Belgravia prospect lies within the north westerly graticular block of the WA-155-P(1) permit, adjacent to the Swell-1 exploration well.

The mobilisation of this drilling rig is in order to further energy development in Colombia.

Wintershall's investments in new wells help to secure supplies in Germany.

GlobalData forecasts that over US$39.2 billion in Capex will be spent by ExxonMobil on oil projects over the next four years, with onshore fields accounting for over half of the company’s crude production in this period.

Frontera Resources Corporation has provided an update regarding interim results on testing of the Ud-2 well, situated inside the 950 km2 Mtsare Khevi Gas Complex area, located in onshore Block 12, Georgia.

The launch, in parallel with engineering, procurement and construction (EPC) work for the conversion of the tanker, was marked with a two-day safety-engagement event.