Exploration ///

What's new in exploration

William (Bill) Head

Exploration: Not dead

Shale drillers target Eagle Ford for new exploration opportunities

The Eagle Ford shale in South Texas, long overlooked compared to its larger cousin the Permian basin, saw its biggest one-week jump in drilling activity in more than two years as explorers look for growth beyond the world’s biggest shale patch.

Emboldened green activists target Argentina’s offshore oil plans

Environmental activists in Argentina are trying to prevent new oil exploration in the resource-rich South American nation just days after forcing a governor in Patagonia to reverse course on silver mining.

Canadian Overseas Petroleum Ltd announces significant U.S. discovery

Canadian Overseas Petroleum Limited, an international oil and gas exploration, production and development company with operations focused in Wyoming, USA, announced a significant conventional light oil discovery at its Wyoming asset.

Enterprise buys into Permian natural gas market with $3.3B acquisition

Enterprise Products Partners LP agreed to buy Navitas Midstream Partners LLC from Warburg Pincus LLC for $3.25 billion in cash to add natural gas pipeline and processing assets in the Permian Basin, the world’s most prolific shale basin.

Government of Newfoundland and Labrador fails to fund offshore seismic program for 2022

The Government of Newfoundland and Labrador is not allocating funding for the 2022 offshore seismic program and as such, the program will cease for this year. The Newfoundland and Labrador Oil and Gas Industries Association is disappointed with this decision and encourages the Provincial Government to reconsider for this year and to plan an offshore seismic program for 2023.

Shell sends seismic vessel home after South African court loss

The vessel hired by Royal Dutch Shell Plc to look for potential oil and gas fields is on course to leave South African waters after community groups won a court case to temporarily halt the activity.

ExxonMobil tallies two new discoveries offshore Guyana

ExxonMobil announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana.

European court to decide if Arctic drilling violates human rights

The European Court of Human Rights is asking Norway to respond to charges by activists that allowing new oil and gas drilling in the Arctic during an environmental crisis may breach fundamental freedoms.

TotalEnergies, Shell place big bets on Brazil’s offshore oil

European supermajors TotalEnergies SE and Royal Dutch Shell Plc will join Brazil’s state-controlled oil giant at two key fields, marking the latest expansion in Latin America’s largest crude producer and an important victory for President Jair Bolsonaro.

Oil industry CEOs warn energy transition depends on fossil fuel investment

Buoyed by high oil prices, the bosses of the biggest explorers this week laid out a vision for the energy transition that hinges on more fossil-fuel investment rather than less.

WPC 2021: Baker Hughes sees ample oil supply, countering Halliburton’s prediction

A day after Halliburton Co. warned of an imminent oil shortage, larger oilfield rival Baker Hughes Co. offered a sunnier outlook.

WPC 2021: Halliburton sees a future of oil scarcity as spending falls

Halliburton Co., the oil industry's largest frac services provider, warned that the world is headed into a period of scarcity for oil after seven years of underinvestment following crude’s plummet from $100 a barrel in 2014.

Chevron’s Angola subsidiary signs 20-year extension for Block 0

Cabinda Gulf Oil Company Limited has signed a contract with Angola’s Agency for Oil, Gas and Biofuels aimed at extending the exploration and production of Block 0, in Cabinda, for another 20 years.

First oil

Kurt Abraham

Recovery is still moving forward

Shell gives up on UK’s Cambo field, in a win for climate activists

Royal Dutch Shell Plc pulled out of a controversial UK oil project, a win for environmentalists as the development of a new North Sea field was left hanging in the balance.

UK regulator sees untapped potential in North Sea oil and gas projects

The second Wells Insight report, published by the UK Oil and Gas Authority, highlights significant opportunities remaining in the UK North Sea basin, despite Covid resulting in a slowdown in 2020.

Biden’s Gulf of Mexico oil lease sale draws high-dollar bids

Oil companies spent $191.7 million buying drilling rights in the Gulf of Mexico on Wednesday, during a robust government auction that underscored the industry’s appetite for new crude as the White House seeks to shift the U.S. away from fossil fuels.

Biden’s offshore oil lease auction will test drillers’ appetite for risk

The Biden administration is selling drilling rights across the Gulf of Mexico on Wednesday in an auction that will test the oil industry’s appetite amid White House efforts to shift away from fossil fuels.

COP26: France falls in with group pledging to end oil and gas exploration

France has joined a group of countries and states that support fixing a date to end fossil fuel exploration, putting its name to an initiative that was snubbed by the UK

EQT’s CEO calls for more American shale investment to end energy crisis

The largest U.S. natural gas driller is using the global energy crisis to renew his call for more investment in domestic infrastructure such as pipelines, which he says will enable increased exports and ease shortages.

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