Exploration

Sapakara West-1 was drilled to a depth of approximately 6300 m (20 700 ft), and successfully tested for the presence of hydrocarbons in multiple stacked targets.

The 5600 km2 survey will be undertaken over 90 days and is an extension of Atlantic Margin surveys acquired between 2017 and 2019.

ANP announced the suspension in compliance with a request from the country's Ministry of Mines and Energy.

The project is due to commence in 2Q20 and last approximately 3 months.

The expanded coverage over the Malvinas and Austral Basins adds to Searcher’s existing data in the area.

The fully merged and migrated Tablelands and North Tablelands 3D datasets cover approximately 12 500 km2 in the eastern part of the Orphan Basin.

The US$300 million of incremental capital reductions will be driven by the deferral of activity in the Eagle Ford, improved capital efficiencies in the Delaware Basin and lower service-cost pricing.

The APA is one of two equal licensing rounds on the Norwegian Continental Shelf. The scheme was introduced in 2003 to facilitate exploration in geologically well known parts of the Shelf.

Global CAPEX for exploration and production firms (E&Ps) is expected to drop by up to US$100 billion this year, according to Rystad Energy.

The mean prospective resources associated with the Westphalian target area are estimated to be 3.95 million bbl, with an upside case of 6.69 million bbl.

The project in the Mexican sector of the Gulf of Mexico is scheduled to commence in 3Q20 and will take approximately 60 days.

Planned 2020 CAPEX on the company's UK producing assets is expected to be below US$45 million, reduced from the original forecast of US$65 million.

Origin Energy has temporarily paused shale exploration drilling activities at its Kyalla well site in Australia's Northern Territory in response to the Covid-19 pandemic.

The contract revenue was estimated at US$1 million, and AGS will receive a cancelation fee of 25% of the estimated revenue amount.

Searcher, in collaboration with Discover Geoscience, is offering an open-file seismic package to assist in the evaluation of the country’s second petroleum licensing round.