Oil & gas news

Penspen has been chosen to provide the procurement and construction of flowlines and wellhead installations for 51 wells in ADNOC Onshore’s oilfields at Shah, Qusahwira and Mender in Abu Dhabi, UAE.

The Lake Albert development encompasses the Tilenga and Kingfisher upstream oil projects in Uganda and the construction of the East African Crude Oil Pipeline (EACOP) in Uganda and Tanzania.

The contract is for Velesto’s jack-up rig NAGA 4 to drill seven firm wells, with an estimated contract value of US$17.68 million.

The agreement includes both 3D new acquisition offshore the Lamu Basin and reimaging vintage data offshore Kenya.

A series of tests were successfully performed on a Weatherford test rig in Houston, US, to demonstrate and verify the integration and functionality of the managed pressure drilling and automated well control technology.

The sale consists of approximately 78 700 net acres located in the Little Knife and Murphy Creek acreage interests in the Bakken in North Dakota, US.

Enverus' summary of 1Q21 US upstream M&A activity shows US$3.4 billion in deal value was transacted during the quarter – an 88% decline from 4Q20.

The duration of the survey is approximately four months and will be executed in 2021 using the company's ZXPLR deepwater ocean bottom node technology.

The majority of operators have stated that they are planning to operate within free cash flow to fund their future capital expenditures, which means that the next few years of oil and gas production growth in the US will hinge on the discipline of operators with their capital budgets, says GlobalData.

Oil prices fell today as a result of a steep rise in gasoline stock levels in the US and concerns over the AstraZeneca vaccine future usage.