Exploration news
Axxis Geo Solutions receives cancellation of North Sea contract
The contract revenue was estimated at US$1 million, and AGS will receive a cancelation fee of 25% of the estimated revenue amount.
Bahamas Petroleum postpones drilling operations until October 2020
The drilling of Perseverance #1, the company's first exploration well in The Bahamas, has been suspended by the Covid-19 pandemic.
Equinor makes CAPEX cuts
US onshore drilling and completion activities are being halted by Equinor.
TGS completes processing of Erlend Wild West seismic project
Erlend Wild West is a 3900 km2 survey consisting of 1900 km2 of data acquired from the west of Shetland region, offshore the UK.
PGS releases data from Indonesia surveys
The new seismic datasets from Indonesia will be used to support the country's upcoming 2020 licensing round.
ION divests from land seismic equipment JV
The company is to sell its 49% equity stake in INOVA Geophysical Equipment Ltd. for US$12 million.
Axxis Geo Solutions receives extension to Middle East OBN contract
The additional work is estimated to be totalling 7 vessel months and will continue into 2Q20.
Gulf of Mexico lease sale generates US$93 million in high bids
A total of 22 companies participated in Lease Sale 254, submitting US$108 587 185 in total bids.
Neptune Energy makes discovery in Germany
The discovery was made at the Schwegenheim exploration well in the Rhine Valley.
Lundin Petroleum makes oil and gas discoveries in Norwegian North Sea
The discoveries were made at the Evra and Iving exploration well, close to the Balder and Ringhorne field.