Drilling & production

The tie-back project will reach a production of 40 000 boe/d in mid-2022.

The company has set annual capital spending through 2027 at US$20 billion to US$25 billion.

In the company's upstream business, approximately US$8 billion is allocated to currently producing assets, including about US$3 billion for Permian Basin unconventional development and approximately US$1.5 billion for other shale and tight assets worldwide.

Petrogas will employ the harsh-environment jack-up rig Maersk Resilient to drill the appraisal well.

The project involves the construction of a hydrocarbon collection system and the transport of gas and condensate to the new Jafurah plant, in the Eastern Province of Saudi Arabia.

The Buzzard Phase II development in the UK North Sea is expected to reach its peak production of approximately 12 000 boe/d in 2022.

Columbus is expected to be producing at its potential by early December.

The contract is for the Ron Tappmeyer jack-up rig.

Borr Drilling's Prospector-1 jack-up drilling rig has spudded the Q11-B appraisal well.

The company has started an interim three-well development programme at the concession in Egypt.

The extension will include one additional well at the Fenja field and two exploration wells within core areas of the Norwegian sector.

Continental Resources’ decision to acquire Pioneer Natural Resources’ Delaware Basin assets will raise the company’s production by around 58 000 boe/d to reach 390 000 in 2022, according to GlobalData.

Schlumberger, Weatherford and Baker Hughes were among the companies to receive contracts for wellheads and related components, downhole completion equipment and related services, and liner hangers and cementing accessories.

The assets Neptune is divesting include the producing Draugen, Brage and Ivar Aasen fields.

In its latest report, ‘Key Upstream M&A Deals in 2021’, the data and analytics company reveals that the total number of deals in the US upstream sector grew from 388 in 2020 to 420 in 2021.