Chevron is right in holding back in capital spending to boost production as its current priority remains in creating a strong balance sheet and generating free cash flow, says GlobalData.
The Liuhua 29-2 gas field is expected to reach a peak production of approximately 41 million ft3/d of natural gas in 2021.
The Railroad Commission of Texas issued a total of 732 original drilling permits in April 2021 compared to 456 in April 2020.
The agreement between APA and Egypt's Ministry of Petroleum and Natural Resources will consolidate the majority of the concessions in the Western Desert of Egypt operated by APA Corp. subsidiary Apache Egypt into a single new concession.
The new training centre in Nefteyugansk, Russia, was launched in October 2019 following Siberian Service Company’s investment in rig simulator technology developed by Drilling Systems.
The 6-1 well, spudded by Reconnaissance Energy Africa, is designed to evaluate the petroleum systems discovered in the first well (6-2) in an area of maximum thickness.
The acquisition will add 1 billion ft3/d equivalent of gas production to EQT Corp's current net production.
Eriell Group and Uzbekneftegaz JSC have put into commercial operation seven new gas wells in the Kashkadarya and Bukhara regions, as well as in the Republic of Karakalpakstan.
Located in water depths from 600 to 1200 m and about 150 km from the Angolan coast, Zinia Phase 2 resources are estimated at 65 million barrels of oil.
At completion, Ruby is expected to have the capacity to produce up to 16 000 gross bpd of oil and 80 million gross standard ft3/d of natural gas.
The first phase of the company's Morocco drilling campaign will consist of three appraisal/development wells, targeting an estimated total of 1.3 billion ft3 of P90/1.8 billion ft3 of P50, gross unrisked prospective recoverable resources in the Gharb Basin.
Exxon recorded 1Q21 earnings of US$2.7 billion, compared with a loss of US$610 million in 1Q20.
The company reported adjusted earnings of US$1.7 billion (US$0.90 per share - diluted) in 1Q21 compared to adjusted earnings of US$2.5 billion (US$1.31 per share - diluted) in 1Q20.
A paper published by LYTT advocates new, acoustic data-based methodologies to improve the diagnosis of well integrity issues and inform successful remediation and plug and abandonment strategies.
The company will acquire interests in four licences, two of which will be operated by the company, for a total initial headline cash consideration of US$9 million.