Upstream news

Union Jack Oil plc, a UK and USA focused onshore hydrocarbon, production, development, exploration and investment company has announced a positive drilling update in respect of the Taylor 1-16 well, located in Seminole County, Oklahoma, USA, in which Union Jack holds a 45% working interest.

GeoPark has announced that it has signed agreements to acquire Repsol upstream oil and gas assets in Colombia.

Gran Tierra Energy Inc. has announced exploration success in Ecuador and a strategic joint venture transaction and partnership to accelerate value in high-impact Canadian Montney oil play with Logan Energy Corp.

Axess Group has secured a frame agreement extension with KCA Deutag, a drilling, engineering and technology company.

Valeura Energy Inc. has announced the successful completion of an infill drilling campaign at the Jasmine field in Licence B5/27 (100% operated working interest), offshore Gulf of Thailand.

The contract concerns the offshore facilities for natural gas production and transportation as well as the capture, utilisation and storage of carbon dioxide (CCUS).

Prospex Energy plc, the investment company focused on European gas and power projects, has announced an update on the schedule of the flow testing at the Viura-1B development well, which is expected early in December.

According to Reuters, a senior executive at Exxon Mobil said that US oil and gas producers remain focused on capital discipline, rather than radically increased production.

According to EIA, An average of 13.4 million bpd of crude oil was produced in the United States during August 2024, a new record according to data from EIA.

Kent, a provider of engineering and project management services in the energy sector, has been awarded a contract for engineering services by BASF to support the company’s gas treatment initiatives in the UAE.