Exploration news
Hindustan Oil Exploration makes discovery offshore Mumbai
The two wells drilled and completed in Block B-80 are expected to have an average production of 8000 bpd.
Global E&P revenues projected to fall by US$1 trillion in 2020, says Rystad Energy
A Rystad Energy analysis shows that global E&P revenues are now forecasted to fall by about US$1 trillion in 2020, a drop of 40% to US$1.47 trillion from last year’s US$2.47 trillion.
Equinor drills dry well near the Oseberg field
Wildcat well 30/6-31 S encountered poorly developed sandstones in the Intra Heather Formation with poor reservoir quality and no traces of petroleum.
Neptune Energy begins drilling in Fenja field
Fenja is Neptune’s first operated development project on the Norwegian Shelf and is estimated to contain 97 million boe.
Union Jack Oil receives permit for testing of West Newton well
The decision document, received on 24 April from the UK Environment Agency, grants a variation to the permit for the West Newton A site and associated WNA-2 testing operations.
Sharp Reflections reduces upfront fee for Pre-Stack Pro Cloud plan to support industry
Pre-Stack Pro enables users to fully leverage 100% of their seismic data using advanced tools for AVO processing and quantitative amplitude interpretation.
Norway plans to extend Arctic oil exploration boundary
The government has proposed an extension of the so-called ice edge boundary to the constantly changing southern fringe of the permanent ice sheet.
PGS announces 1Q20 results
The company is reducing its 2020 CAPEX and cold-stacking two vessels in 2Q20.
Neptune Energy drills dry well in Norwegian Sea
Well 6507/8-10 S, 10 km east of the Heidrun field, will be permanently plugged and abandoned.
Seismic industry faces revenue collapse, says Rystad Energy
Rystad is estimating that the industry's revenues will fall this year by 51% in a US$30 Brent scenario and by 77% if the Brent falls to US$20, compared to levels seen in 2019.